announcement, page-10

re: biggest volume since last october Gareth, bit of a joke, thought RDF might be too profitable for them as they seem to like buying dogs.

I guess ADRs will start trading when a buyer comes along, my understanding is that initially the Bank of NY will only create ADRs when they have a buyer. The process is that the potential buyer approaches Bank of NY, Bank of NY then contacts their Australian contact (say ANZ) who buys the actual stock and holds it in trust for BNY. BNY then issues the ADR. All probably done same day.

Once there is a number of ADRs on issue there will be a secondary market established with one or more market makers, same as the OTCBB stocks.