Hi ashc, I agree with your figures but some of the k's should be...

Hi ashc, I agree with your figures but some of the k's should be m's I think, like this...

"If Rincon produces 17,000t p.a as projected and prices of lithium go up about $10,000 t then net profit before tax will be around $180m per annum. This is without free potash 80,000t at $750 and we get some $60m of additional revenue. This free potash is worth alone $750 million based on a PE of 15. On top of this is revenue from other chemicals, and the potential to increase lithium to $68,000 t p.a. Taking this into account profit before tax of some $250 million sounds reasonable."

But I think you are wrong on the Shougang contract. PT has already said Shougang are going straight to contract and he has it in his hands now. I believe the reason for this is Shougang wants to lock in their supply and they dont want to pay spot prices or have someone else butt in. The visit by the Shougang president and his experts in June is about how they can expand the io mine and port facilities. ADY has no need to raise more capital after the contract is signed as the secured loans will take care of any running costs and expansion until the money comes in.

I think you are a bit tough on PT. ADY is no small task and he is working for peanuts on a shoestring budget. Opes was not his fault! If you were here when it happened he was just as shocked as us when his own shares got taken. Unlike you, I dont criticize people unless I could do the job better myself. He at least deserves some support for what's been done so far.

I dont think we will be waiting as long as that for the sp to go up. Firstly there is anz with no more disposable shares, the Shougang deal, the demerger, the release of the prospectus for the demerger, income from io sales, substantial shareholder notice(s),the Shougang visit, Shougang JV, etc etc etc...

I think PT should give you the job of writing the prospectus for the demerger. Then everyone can read just what ady is really worth!

cheers...