We hit a high of 67 and now are 23 so what have a look at other asx small miners and you will see it not an ady suffering. Spend a minute and have a look at the last 12 months of dyl, esg and hgo all are in the energy mining sector and guess what they are all down over 50% of there Mid last year highs. I'm also perplexed on why finance will be an issue with ady, the 10 year deals with the chinese will sure up finance on the io front and the litium tenders paying the profit upfront will take care of that side of things.
Have a read of the ann on the 17 jan "Part of the iron ore package is for the buyer to assist Admiralty to obtain from one of three major trading banks interested, a total funding package of approximately US 40 miliion which is the amount required to meet ourshort term expansion plan"
Then in an announcement on the 20 Jan "Admiralty has felt no effect from the subprime lending crisis and is experiencing keen interest from prime lenders to take on resources based an in particular those in the io business. Admiralty is raising additional debt using the creditworthiness of it's iron ore clients to secure an additional loan an assist in reducing the interest rate and increase the amount of debt it can borrow"
The way i see it finance seems not to be an issue on either the io or li side of things. So to all you baggers who want the sp to drop further good luck but i don't feel you will get in much lower. Lets fast foward 12 months and i'm sure you will be eating your words
ADY Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
