icarus, page-20

silsol

firstly what makes you think that ADY will receive $50m?

The person making that statement is not a director of Icarus.

Icarus is an investment company and has no experience in mining. We cannot even find any reference via GOOGLE.

Shareholders have been given no details as to which company will do the actual mining and export of iron ore.When will mining commence? What annual output? What cost dtructure? Etc etc

Shareholders have been given no details regarding when the $50m will be received?

There is no "guarantee" that $50m will be be forthcoming.It may end up being $10m due to similar historic mining problems.

Go back into history and see how many occasions ADY stated bullish sales and profit projections which never eventuated.

The question is ... can these directors who sold Rincon for a song (because it only contained a tin shed and a few ponds) be trusted?

I would not get too excited on what has been proposed. Especially since Prior has failed to provide all the details to date. Why the delay?

As for the other assets ADY has... well again we were told at the 2008 AGM that they could not be sold due to limited value. Who knows what is the truth from these guys?

That's the reason i sold out long time ago.

You need to be aware of the risks. I lost heaps.Suggest that you do not follow in my footsteps and do some real research.