Hmm,
How does the value of a company increase when it sells the best part of it's only major asset with no guarantee of further income? remembering said company gains 4m in cash, but burns over a million a year in administration fee's. Do you really think they will put that cash to good use, or keep paying director's fee's and releasing useless quarterly activity reports?
Just think for a second why they NEED to sell the asset? To buy another asset? To fund exploration even though we have a proven MEASURED category JORC resource(that had million's spent on getting it to JORC) in the northern tenements with a previous mining operation? To fund a mining operation given that 4 million will allow us to have approximately four Chilean workers and three shovels for mining? Or for Administration costs?
I just don't see the need for asset sales in a depressed market unless it's really good deal, and this is not a good deal.
With no debt, no future spending commitments; ADY should sit on it's hands and wait for a good deal. Then when the market returns start looking for a JV. If they then can't get a deal then, do a deal like the one proposed by Icarus.
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Mkt cap ! $17.92M |
Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
---|---|---|
4 | 1411111 | 0.9¢ |
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Price($) | Vol. | No. |
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1.1¢ | 252740 | 1 |
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4 | 1411111 | 0.009 |
2 | 190000 | 0.008 |
8 | 1090106 | 0.007 |
6 | 1400000 | 0.006 |
7 | 1256449 | 0.005 |
Price($) | Vol. | No. |
---|---|---|
0.011 | 252740 | 1 |
0.012 | 245041 | 2 |
0.014 | 349343 | 2 |
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0.016 | 636341 | 2 |
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