ADY head grades are about 20%. This requires several tons to be extract hauled to the plant processed and the several tones carted and put on the waste dump.
These low head grades are a major reason ADY has lost a lot of money with iron Ore and can not produce iron ore at less than the contract price. The othe issue is scale, the iron ore operation is very small.
These bonus payments are beer money compared to their diesel bill.
ADY's iron ore is consuming cash not generating it, more so since the Iron ore spot price collapsed $90USD CIF China, below the contract benchmark price.
ADY Price at posting:
3.9¢ Sentiment: Hold Disclosure: Held
