good day, page-4

Hi Macleod
You raise some very good points and I do not begrudge you of them as they are certainly valid points.
I can not answer in all honesty when details of the jv will be released. All I can say imho (and there is a lot of contention about this) is that JA has got ady to a point where there are 15 interested parties 3-4 who seem genuinely serious re the i/o. Nothing was mentioned of the port. I thought it would be good to go to the agm with a jv of sorts under our belt. However, Buddfox made an extremely good point that any jv partner would want all debts cleared. Hence ya global out of the picture. That will not happen before the agm imho. Of course ya global are happy to keep making massive margins by lending ady money.
Your second point re directors is a moot point as we have a new director forking out his own cash at market to buy shares and I think the current board and ja will want maximum value for their shares. Let alone re establishing credibility after the thomas fiasco. Maybe to a degree you are right, thomas is a very slick used car salesman and I would not put it past him to lie to the board. I had a conversation with ja re previous management earlier in the year. In a manner of speaking he said ady would not make mistakes of the past and he wanted global out of the picture for good. At every contentious board meeting there will be security eg telstra, james hardie and qantas etc etc. Ady lost a lot of value so of course there was going to be security for aggresive shareholders. As for lawyers being there, they are a cancer on society and will be everywhere they can get their grubby little hands on extra money. Of course this is all imho
Happy sailing
PGamble
P.S Yes Brett050 I will try and get to the agm but live in sydney.