Did a little research on this one overnight...After a series of...

Did a little research on this one overnight...

After a series of good news announcements, it seems the fall in shareprice from it's high of 25c...in less than 4 weeks...may have been triggered by 4 key issues...

1. Failure to lodge half yearly accounts.

2. Director's resignation and cancellation of consulting services.

3. General market decline

4. Issue of 15m shares at 10c on March 4

The first is inexcusable, although I have noticed an appology was given to the market, which is a good sign it wont happen again; the second is a little concerning, although they were not key people; the third couldn't be helped and has been the same for most stocks and; the fourth has facilitated a much larger fall than might otherwise have been the case.

Some 700m shares have traded above current levels, which is almost twice those available to trade, so no doubt there would be some very unhappy holders of ADY shares at the moment...especially those who followed the Analyst Presentation from Colonial First State.

Just about the whole register is currently under water.

Some very impressive earnings projections eminating from this lot, in spite of this however, the share price is still languishing...which suggests the company might simply have a credibility problem, as evidenced by the markets apparent disregard for their projections.

It's either a great buy at current levels, or one to be avoided.

Time will tell.

Cheers!