I understand your point, but I think while risk may increase under current financial crisis, we should also understand that financial crisis or not, investment money will still flow into the markets. The due diligence is there for a reason, and if the investment banks are still happy with what they see, and if fundamentally nothing has changed with ADY, then there's no reason to think that they will fail to raise the required funds.
I think the following from PT out of the Q&A is also another good example and again, I agree. It is a common theme with many companies at the moment.
The response to the previous question has created concern over the iron ore deal. we saw 18.5c get wiped out and people raising doubts about the company. Are you able to return some confidence to the market by releasing a positive announcement before the SP gets smashed?
ADMIRALTY RESOURCES NL Answer from Phillip Thomas, Executive Director
While we have an interest in the share price, we do not release "positive news releases" for the sake of it. We have a complex business, we are working diligently to a strategy and to date we seem to be achieving the strategy we set out to implement, which is to attract major buyers to buy our iron ore at a premium.
If traders want to "smash" the price while we are increasing revenue, then so be it. There are about 40-50m shares that willing to trade for losses and gains on a daily basis, this is life, the same thing happens in BHP, ANZ, etc.
I have on past occasions released great announcements in line with my continuous disclosure requirements, and the share price hasn't moved or, in fact, on one occasion, it went down.
Earnings is the only thing in my humble view that will take the price to 60 cents again.
ADY Price at posting:
7.9¢ Sentiment: Buy Disclosure: Held
