60% of Vallenar Iron Company. Sole assets: 54Kt of iron ore concentrate sitting on a dock in Chile. No sign of any production. The Long Crowd, as I will call the evergreen dupes of this rickety FAIL-bucket, continually remind us of how PT always keeps the market "fully informed". Well, where is the statement saying "yeah, we have 54kt of concentrates and we are trucking and mining and concentrating like crazy to make you, our esteemed shareholders, bazillionaires"?
Nowhere. Why? BEcause they are NOT making a poofteenth of a gram of iron ore concentrate right now and to say otherwise to the market would be misleading and illegal. Pay close attention to what is not being said. What is not being said is that Vallenar Iron is actually making iron ore. How is God's good graces will ADY make enough money to dig itself out of debt if it cannot make more iron concentrates? It fired Besalco, remember? They haven't advised you that ANY new equipment is turning up to site, nor that any new contractor is due to mobilise, nor have they put out any information about their ability to pick up the production rate from a truely embarassing220Kt per annum for the whole PREVIOUS FINANCIAL YEAR.
Goodness sakes, I sound like a broken record, but so be it; if you ave an average buy in price of 20c, take your 20% thats left and get the hell out of ADY before its too late. You can find better and equally risky lithium dreams in ORE or GXY. You can find 20% p.a. risky as hell listed property trusts all over the place.
Seriously, this is unsolicited rambling and not professional advice, t is a broken record going round and round in a groove, but the message is clear and gogreen, kacy, raynkaye and the other Long Crowd dupes have never, ever, once, satisfied me that they even see the writing on the wall in any way aside from big red texta graffiti saying "ramp this mofo so you can get more than 5% of your 60c buy in price back".
ADY Price at posting:
4.1¢ Sentiment: Sell Disclosure: Not Held
