ADN pre-DFS target of $0.26 to $0.35, page-345

Much has changed since the late June date that we were told the DFS would drop. In some ways it’s a pity strong impressions were given and expectations based on them. I’m sure plenty of traders were anticipating this and the accompanying boost to the SP with money to be made. This has not happened so they’ve reduced/closed positions and moved on. And let’s not forget the shorters .

The flip side of this is that the company must remain agile & responsive to developments as they occur. The DFS is such an important milestone that it can’t be released one day to stick to an arbitrary ”deadline”, only to be rendered obsolete the next day by a major commercial development, eg BOA! It must reflect and be based on all the relevant factors in play at the time of release. Hence, the delay is good news.

Yes, it’s disappointing that the SP has fallen but in the long term it doesn’t matter to us LT shareholders. The only relevant, credible news flow we’re receiving is comprehensively positive so relax.

GLTH

P