Agree Macleod,
How many people bought into ADY for the lithium. This companies shares were selling for up to 67 cents in 2007 and were selling for between 16 and 18 cents when ANZ was selling and then recovered to 28 cents in June 2008. With 1.13B shares on issue then, that gave the market capitalisation of A$316M.
The company is now valued at A$38M assuming all the shares are issued under the rights issue. A difference of A$278M.
Even though shareholders paid up to 28 cents a share for ADY in June, they sold Rincon for US$22.2M to Sentient in December 2008.
I would like to know why they never tried to raise those funds from shareholders via rights issue so that we each had a chance to protect what was probably our main reason for investing in ADY.
The movement in prices of companies with exposure to Lithium since then confirms this was a bad decision to sell this project.
Do you have any information on if Philip Thomas has had any further dealings with Sentient since the sale?
Regards
SP
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Mkt cap ! $13.14M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 3009074 | 0.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.6¢ | 295279 | 2 |
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