"Make sure you understand the risk,IF they do not have $3m by Oct 30,ADY is gone!!!!!"
That's nonsense. ADY have the option to pay more interest and have the Oct repayment deferred to December if they want.
Saying "They have signed over 100% of ADY to Hawkswood" is not correct. That only means the hawkswood receivers have priority over shareholders to any of ADY's assets.
Even based on the vastly undervalued mining assets in the annual report, ady has total equity of $58m. But we all know the combined value of the ady's mining interests is worth more than $66m.
I conclude - ady will have no problem getting further finance if they want it and is at no risk of going under.
But if they have found a cashed up JV partner then wooooosh!
ADY Price at posting:
5.4¢ Sentiment: Buy Disclosure: Held
