Your remarks are 100% correct.
Harper at the AGM agreed that had they done a capital raising when the shares were over 50c they would have been on a winner. It most likely was Phil and his friends at Opes that did not want to dilute holdings. I was told that loans were the best route. what crap!
The company was destroyed due to an ego and the failure of those who were paid to control that ego to look after all our interests. Even Harper took a hit by paying 10c for his options. He thought like we us that Shougang would deliver the loan funds. That is what Phil told us? But loans never came. Plus all the funding options that Phil spoke about did not materialise. He even said that the lithium tenders were just to sus out the market as Rincon only had a tin shed.Judging by the Half Yearly, that tin shed was written off the ADY books at over $6m in Dec 2008.
Unfortunately we all learnt the hard way.
I cannot trust anyone at ADY as they failed me . sorry!!!!!!
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