charge resources, page-6

PT's expertise is in investment banking, asset management, company structures, etc. So I would expect the RLL sale is above board and in compliance with the governance.

I dont know anything about Charge Resources except that it was setup on the ANZ Opes settlement date. Maybe things did not go PT's way. Opes did more damage to ADY than we can calculate.

Anyway, Charge Resources paid the entire market cap of ADY just for one of its assets so how could you complain about that?

On the bright side. ADY have gone from being close to bankrupt to having ~ $30m in cash with no debt. (I have included the two io shipments in this amount.)

ADY now has three quarters of the current market cap in cash and no debt!

They also expect to receive more funds via the Wyndham, SantaFe, Besalco litigation and will ship io again in Feb.

They could get a JV going with WISCO soon too.


Lets face it ADY could not develop RLL -> out of cash.

They could not demerge RLL with the HW receivers holding the assets and they could not get the money to pay out the receivers.

No doubt Charge Resources will float RLL asap. That will provide the funds needed to keep it going and upgrade the plant. If you only bought ADY for RLL then sell out and get in on RLL when it floats.