"Todays announcement needed to nail down some deals ..."
Combi, I think you are wrong there. They dont need to nail down any deals right away because they are cashed up.
Revenue for August todate is US$7,140,000. Plus US$6.5m recently raised for working capital. ADY is owed US$39m buy CMSB - due Feb. ADY may receive US$83m from Besalco due to breach of contract.
This should alleviate many concerns the market has.
Furthermore, the Hawkswood loan and YA facility are to be replaced with Shougang/Santander or other facility. There is no reason to believe the loan deals wont be done as expected.
It also helps to know that iron ore production and sales is continuing and the business plan is sound and on track. That has reassured my confidence in ADY. I'm glad to have topped up at 13.5c.
You should know better than laying to boot into PT for informing to market on progress. Lets see what the Rincon Update has to say before jumping to any conclusions.
ADY Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
