"Vallenar Iron has a debt with Admiralty for a total of US$44m. The loan is to be repaid by February 2009 (18th I recall). Should Vallenar Iron not be able to repay the debt, ADY will enforce the fixed and floating charge that ADY has over Vallenar Iron's assets and mining concessions." ADY Investor Relations
So ADY gets 44 million or 100% ownership.
"Vallenar Iron has a debt with Admiralty for a total of US$44m....
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