Hi All,Whilst we are looking at JV partners, we should probably...

Hi All,

Whilst we are looking at JV partners, we should probably use the original contract with Cometals, a division of iron and steel manufacturer CMC, which is listed on the NYSE with a market capitalisation of some USD$1.84billion, as a starting point. Under the agreement, Cometals would purchase a minimum of 1.5 million and a maximum of 3 million tonnes of iron ore per annum, over a minimum five-year period, from 2006.

Remember, that this US company began the first discussions with buyers of fines & sinter feedstock, back on 28 April 2006. No doubt, there could be 2 JV partners – there should be a local one, due to government regulations, plus accessibility of local workers. ADY has been heavily supportive of the local economy.

The mining world moves very slowly. I believe, that what we saw with ADY, over the last 5 years, is not dissimilar to the slow start that PNA, GBG, FMG, POS & SBM experienced. The right project combined with the appropriate direct/ management often takes up to a decade.

Now, is possibly the time for ADY.

I remember very clearly the ADY run from .057 ‘years’ ago...it was the first run that i missed, due to fear. This share carries so many burns, that people have forgotten about it. Although, it was the greatest traded share in 2008, no one will jump in until, it is back at around 13.5 cents.

A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful. I think, that Buffett said this.

Note PGamble is on the right track “I have a feeling it may be two seperate jv's for the port and i/o.”
I’m personally still looking at China & sussing out Sinosteel!

I’m only an amateur daytrader, so I don’t pretend to be an expert, but, my goodness, you can glean a lot of knowledge from googling, with a glass of wine!

Cheers Mika