kacy, thats is the most atrocious logic, even for your rather ADY-centric boloney factory.
Being out is never a risk, especially right now. The longer I've stayed out, the more certain I have become that buying was never the right choice. The longer I've stayed out, the mpore vindicated I have become in my position that all is not right in the state of CMSB and ADY.
Even Rincon failed to show me wrong, as right now, any good news from that quarter would be fabulous. Instead, resounding and deafening silence.
I reiterate; the iron ore mine (I use that term loosely, its more like an abandoned ROM pad) is a serial underperformer. The goals and milestones ADY set for itself have not been met and we see no progress toward them being met. We merely see more debt, more convertible debentures turning small debts into shares, we see PT paying one credit crd off with another and then converting that into shares, and we see no improvement in the volume of actual product moved.
Its now nearly October, and in October the fruit season winds up at Caleta and Caldera, which means that Admiralty cannot use the shiploading facilities at the waterfront because it is all being used for oranges or whatever. This happened last year.
TYhis means there is no ship. THere is no white knight invoice-paying MV Whitewhale. There is merely a 10-14 week shutdown over summer to await the end of the fruit season and desperate rearguard firfighting actions to avoid outright death.
Some clown was carrying on yesterday about how BHP could come and takeover ADY to get its hands on lithium, potash and iron ore. How it was such a bargain. Blah blah.
Well, if ADY can't sort its bottlnecks out (and thus far the ADY glassware is the only bottle with more neck than anything to hold a profit) then BHP can buy the lithium off the administrators - which appear to be Cornell / YA Global and NAB, who has a lien out over the stockpile on the dockside.
Add to My Watchlist
What is My Watchlist?
