agm, page-19

IndianOcean

I agree with all your points.

1. JA did say that no feedback until they actually had ASX news.

2. Yes he would be in a position to discuss ADY's future after an independent review took place. I recall that someone he knew would do that and report back early 2009.

3. He would travel to Sth America as he never saw Rincon nor Vallenar even though he had been a director for some time.

4. As for rewarding directors with shares for motivation... JA had been rewarded 1m options for assisting ADY's collapse. Lets reward him again.

5. We now have over 2billion shares. More of our money in order to prop up the company and ensure his renumeration. He still has not purchased one share in ADY. Thats confidence!!!!!

6. Voting for shares was a disgrace. They begged with a show of hands.
JOKE!!!

7. The spinning of a JV is now qualified that it may not happen. Another joke. If no JV ADY will die as it has no cash to pay bills.

8. Lets wait another year. By then directors will have received more bonus's.

In summary a year has lapsed and all that the Board has achieved is to use our money to repay debts.Was happy for a capital placement at 50c when the shares were at 60c plus with less dilution. But no our finance guru has issued millions at sub 2c. Well done John!


I just wonder if ADY will actually sell Vellenar within 6mths. They will say ( similar to Rincon's tin shed quote ) that its just several iron ore pits that are not worth that much.