any pending news expected, page-16

Trouble shooter.

The debt owing by vallenar is $18 million US loan by ADY to vallenar for working capital held as fixed and floating charge over all the assets of Vallenar of which we already own 60%. The money was provided when Wyndam was running the show via Farkas.

this has nothing to do with the current Belsalco litigation or Farkas mis-appropriations.

come 19th Feb if money is not paid. ADY will take charge of all assets Vallenar period.

Hence my earlier posts come 19th Feb we will one way or another cash payment vs possession of assets wecwill be $18 mill US balance sheet richer and then able to do the WISCO JV.

if the mine is in maintenance mode the costs will be very low. we did get a payment owing in Decemeber for sales owing. plus we a little cash in the bank.

My guess the directors are waiting for the deadline dates to do a new deal. finance etc, jv, or even buy out/take over.

Belsalco and farkas litigations will be extra change if we get lucky. you never know.

cheers
JD