ADY 15.4% 1.1¢ admiralty resources nl.

in a matter of 2 months

  1. 219 Posts.
    In a matter of 2 months we have gone from-

    - We are producing lithium carbonate 99.3% purity after a 100-120 days process when our competitors
    have been in the business for many more years than we have and are producing lithium carbonate 96-
    97% purity and after a 8-9 months process.
    - We are producing 10,000 tonnes of sulphate of potash every two weeks from Rio Grande.
    - Equipment for Rincon and plant for Rio Grande has been ordered and we are waiting for delivery.
    - The tender process continues and progresses satisfactorily.
    - The demerger will be voted for once the remaining tasks (which are minimal) are finalized and we have
    full approval from the ATO, ASIC and the ASX.
    - FUTURE: With the appropriate funding, which part of it will come from the offtake agreement in the
    tender, RLL is poised for a great start.

    to fire sale.

    Even these statements require answering.

    - Where is the money from the potash production 10,000 tonne every 2 weeks at $190 per tonne. Is this included in the sale price?
    - The equipment that has been ordered. Has ADY paid for it and is it included in the sale price?
    - The tender process. Well that is a humungous question on its own.

    What has happened over the past 2 months for this to collapse totally. AND DON'T BLAME THE CREDIT CRUNCH. That is an easy copout.
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