mention of jv in fin review, page-4

I can't get the link to work but this is the article by Justin Baily

Seeking Chile Partners

Shares in minerals explorer Admiralty Resources have slumped 59% since hitting a 12 month high last May but on Monday the stock rallied 16.7% after it announced joint venture discussions. Admiralty is in advanced talks to form a joint venture to develop it's mineral and portconcessions in Chile. The miner's fully owned subsidurt, SCM Vallenar Iron, istalking to seven potential suitors. Theparties are eager to get a piece of the action and all have inspected the property. The successful joint venturer will provide funds to enable an "exhaustive" drillinh program. Uponcompletion of the drilling program, the joint venture partners can either acquire the right to earn a yet undetermined equity interest in Vallenar Iron or enter into a secured debt agreement against Vallenar Iron's assets for therepayment of funds lent.


I recently topped up my holding so now waiting for nice positive break out.