jorc announcement, page-47

I hope you are right The Ace.... good news coming and lots of it..

Assuming you are right... and we have a JORC resource of X million tonnes of high grade coal... and contracts for off-take are signed... would it not be possible for the Adavale Directors to negotiate a "coal prepayment" with the buyer... enabling them to raise further cash for mine development.... this is what Indo Mines did in Indonesia and raised four million dollars.. without a potentially damaging dilution of share holders equity at these very weak share price levels..

This of course if ADD do require additional capital...they may not...after all we know per the Quarterly released in April they still have several million dollars on hand.. enough surely to commission a small Indonesian coal extraction business.. Or is the cash on hand being held back for Dicky Poole's half yearly performance bonus... maybe he's getting paid for every million dollars he wipes off the company's market capital..

The weak Aus dollar is a two edged sword The Ace.... To commission the project in Indonesia the company needs to settle in US dollars... though prudent operators that they are.... I'm sure our Directors hedged at ninety three cents..

With regard to Speculationing's thoughts on investors...very good question..given hindsight I'm fairly sure most holders here would not have invested when they did.. perhaps potential investors could be refered by our Directors to our Japanese share holders... I'm sure they would provide a glowing reference given that they paid twenty two cents for their shares.... and could sell them today for two point five cents... that is if they could pick themselves up of their samurai swords first..