ADY 8.33% 1.3¢ admiralty resources nl.

looks like ady will win the $83 million

  1. 484 Posts.
    Looks like ADY will win the $83 million

    VALLENAR IRON’S CLAIMS AGAINST
    BESALCO’S UNDERPERFORMANCE
    The Company makes the following announcement with regard to its 60% owned Chilean
    subsidiary, Vallenar Iron Company (“Vallenar Iron”).
    On March 12, 2008, Vallenar Iron and Besalco Maquinarias S.A. (“Besalco”) entered
    into an arbitration process in Chile and on June 13, 2008, Vallenar Iron filed a legal writ
    against Besalco for breach of contract and seeking a financial indemnity in favor of
    Vallenar Iron in the amount of US $ 83,000,000 for lost production for the period from
    February to May 31, 2008. The arbitration process with Besalco is currently ongoing
 
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