for what it is worth

After loosing so much on this stock... thanks to Phil and directors.

I am looking for any positive from what is left in the ADY shell. Naturally I would want the "New Board" to confirm details at the AGM.

1. Need confirmation that the Wisco one million tonnes pa supply contract for 5 years is still in place.

2. Need confirmation that once Besalco is terminated at year end that Michael Clarke can get production up to deliver the 1 million tonnes of final product.

3. Need confirmation whether new crushers are required in order to increase production.

4. Need confirmation whether Leonardo Klein has a valid legal claim re the dispute on payment by ADY for the last 10% of Santa Barbara.

5. Need confirmation that ADY has a watertight agreement that Leonardo's 40% will be forfeited if he does not make the $20m payment in Feb 2009.

6.I have received more up to date info on ADY's valuation IF they produce 1.3m tonnes. Details are subject to confirmation from M Clarke.

The valuation is estimated at 20c per share.




VALLENAR


Tonnage I/O Price Earnings USD

1,300,000 $65 $84,500,000

60% ADY Equals $84,500,000

Less OPEX @ $40/Tonne (60%) $31,200,000

EBIT = $53,300,000

Finance Costs $0 $53,300,000

NPAT (30%) USD = $37,310,000

AUD $1.00 = 0.65

NPAT AUD AUD $57,400,000

Shares on Offer = 1,134,457,841

E.P.S. = 0.0506

P.E. 4 0.202

Share Price = $0.20




Do your own research as i have lost heaps on this stock... thanks to Phil!