besalco, page-2

Incredible that even ADY does not update shareholders with all the relevant info in order for us to make fact based decisions re our investment.

There is a court case ( Santa Barbara v Besalco) re production targets. One party says there are no targets the other says there are. The judge ( Don Juan Edardo Palma Jara) is to decide. Since the case was first lodged in June it makes you wonder why it is taking so long.

Todays ADY Announcement that it is increasing the Claim against Besalco is immaterial and a distraction in my opinion. The real reason for the announcement is that Vallenar has not paid Besalco for services rendered.

Besalco has issued an announcement on its Internet site dated 7th Nov ( over a week ago) stating that this is the second time( Sept & Oct) that Vallenar has not paid its bills.

ADY has chosen to focus on the Sept invoice and not disclose the Oct invoice. Obviously it is waiting for funds from various sources in order to pay the invoices. No wonder the Rincon funds are so important. During Oct it had debts to repay two large loans plus outstanding production invoices. What a mess !!!!!

Note that the Besalco announcement is not clear on another aspect re $950,000,000 owing.Lost in translation.Read it yourself under the publications heading. www.besalco.cl