I cannot understand why so many investors are sweating on the...

I cannot understand why so many investors are sweating on the pending JORC.

ADY already has some 84 m tonnes in one mine and has another six mines awaiting results. If each mine has a similar tonnage you can estimate total reserves exceeding 600m tonnes. This is a massive resource!

Just stop and compare ADY's resource to Mt Gibson's ( MGX). Here we have a company with 103 mt resource, 800 m shares , a debt of $93m and a shareprice of $3. I acknowledge that their production is currently at 5.5mt per annum and rising to 10mt by F2010. Ours ( 400,000 t pa)is insignificant by comparison.

ADY's potential ( production anticipated to be 5 mt in three years time)just for the iron ore side compares favourably and shows just how undervalued the company is.

Once we have have the Wisco and Shougang contracts signed and cash advances of $80m plus Michael Clarke can put his skates on and go full steam ahead with infrastrucure, equipment, etc.

I suspect that Phil cannot go to China for the final signing until the Jorcs are available. Anticipate next week to be the start of positive announcements.