answer from maria from email sent over wend

Email reply received this evening at 6pm.
===========================================================

Dear Jim,
Thank you for your email.
Please see the responses to your questions below.
Kind regards,



Maria Vazquez

Investor Relations

Admiralty Resources NL

Level 14, 200 Queen Street

Melbourne VIC 3000

P: +61 3 9642 8787

F: +61 3 8677 6949

E: [email protected]

W: www.ady.com.au




Sent: Sunday, November 16, 2008 1:43 AM
To: ADY Investors
Subject: concerned investors questions



Hi,

As a extremely concerned shareholder with 1 million + shares (at 10 cents average) in the company I am deeply concerned with the current status.
I would appreciate if you could answer the following questions.

1)Were there monies received at the end of October / early November for Iron Ore shipments? I believe that 3 million AU$ was due on Oct 31.

No monies have been received in October or November for shipments.

A$3m were due to be paid to Hawskwood by 31 October 2008. The payment has not been made and the full Hawkswood loan (A$11.8m) is

still outstanding.

a)If not when will ADY receive it.

Vallenar Iron did two shipments (80,000 tonnes) at the end of October but they have experienced contractual issues with the buyer, who has

finally withdrawn his offer. Management has rearranged for WISCO to take the two shipments at US$74.50 per tonne. Monies will be

received once the paperwork is sent to Itochu, WISCO’s agents. Estimated time: 5-10 December


b) If the money was received , was it used to pay the initial Hawkswood installment or is it in the bank? N/A

3) In the Deal with Charge, The Binding MOU was signed on Friday 31/10. When was the binding contract signed?

The contract is to be signed once the funds are available to be transferred to ADY’s account, which hasn’t happened as yet.


4) Can the binding MOU / Contract be made available to shareholders so they can look at the terms?

No, it is a confidential agreement between the two parties.


5) Is there a penalty for Charge if they break contract? and if so what is it? No

6) Have ADY contacted ORE to see if they were interested in a JV for RLL?

7) Has there being any discussion with any other companies besides Charge? BHP or any car manufacturers?

8) Have any companies expressed any interest in buying RLL since Charge deal was announced?

The Company will not disclose any information with regards to the parties that have been contacted/interested for/in the sale of Rincon.

9) Is there a plan B, if the charge deal falls through?
If the contract with Charge doesn’t materialize, the Company would have to reevaluate the situation along with Hawskwood Investments’s receivers.

The Company will refrain from commenting on any future decisions that it may take as they are only speculations at this stage.


Thanks and regards,
Jim