highlights for 2008 with more revenue 2009

I can't see why HC members are down ramping this stock, ADY has blue sky from here, so they have to pay Hawkswood who is in recievership, so what, its a debt all companies have debt, atleast they are paying it, the Annual report is great, so who ever holds ADY don't worry the will get back to 10 cents i recon soon

Highlights for 2008
In August 2007 our ownership in Cia Minera • Santa Barbara
increased to 60%.
• Cia Minera Santa Barbara shipped 224,000 tonnes of iron
ore worth CFR USD$16m to WISCO, Wugang Iron and
Steel Group, China.
• In a strategic co-operation with WISCO the CFR price
was increased by 9.5% in line with earlier year increases,
and WISCO agreed to defer 4 shipments until 2009 when
CMSB has panamax or cape vessel facilities available.
• The calculation of the resources by SRK Consulting in
Chile of iron ore at Japonesita, Japonesa and Mariposa
mines reached 194.1 million tonnes of indicated and inferred
resources at a Fe cut off grade of 15% and 9% per
cent respectively.
• The process to produce lithium was improved substantially
using new methods and technology developed by our team
in Argentina. The key benefit is very high recovery rates
and a patent application regarding the process has been
made.
• The lithium carbonate pilot plant was constructed in November
2007 and started operating in January 2008 and
the first lithium carbonate and potash was produced at
99.0% purity.
• Rio Grande mirabilite (sodium sulphate) mine was purchased
in August 2007 and commissioned in Januar y
2008, and is producing at 140,000 tonnes per annum.
• Successful negotiations with the Traditional Owners and
Northern Land Council at Bulman, NT resulted in receiving
four new exploration licences and the recommencement of
exploration for lead and zinc. Thirty two drill holes were
drilled in June and July 2008 with encouraging results.
• We successfully raised US$25.6m in converting notes and
placements of A$6m during the year.
The 2008 Annual report provides an overview of Admiralty
Resources’ main operating activities for the year ended 30
June 2008.