meryl lynch, page-11

thanks for your in depth suggestions BUT No Thanks!

Who has been responsible for the collapse in ADY's shareprice?

Phil borrowed funds to purchase additional ADY shares because of his belief in his ability to maximise ADY's financial position. No different to borrowing funds to buy an investment property.

Did Blumberg warn his friend Phil to cancel the loan and close his account? No. Everyone with an account went under. The reason why will be known in time. I am sure that Blumberg did not want to loose his hard eraned capital.

As for ADY...

let us not forget that Santa Barbara ( iron ore) was managed by Leonard Farkas Klien up until Phil purchased the additional stake. Maybe that is why its performance re exporting ore was not up to scratch. We now have a new MD in Michael Clarke. Lets wait and see how he performs. To date ships are coming and going. Revenue is increasing.Its now a matter of new funds to increase production and export.

The lithium reserves are being managed by others in Argentina. All has gone to plan. They now are waiting for funds in order to build the new plant and maximise production. Nothing wrong with that approach.

In case you have forgotton a company trequires funding in order to produce the goods. Funding is either via loans ( which equates to debts)or capital raising.

All the fundamentals are in place for ADY to prosper.

Lucky for us the Opes disaster has occured before contract announcements were made. Otherwise there would have been nothing to make the shareprice recover.

ADY/RLL will recover .. it is just a matter of time as excess stock is cleared by Receivers.