BuddfoxxYour commentary is astute.....Bottom line if you are...

Buddfoxx

Your commentary is astute.....

Bottom line if you are negotiating a jv with serious liquidity problems (which until this announcement was an issue) you are going to struggle to get a deal and attractive commercial terms.

This announcement is beneficial on a number of fronts.

1. It allows ADY to be able to be in a favourable position to negotiate a good jv deal on attractive commercial terms. It has already flagged there are numerous players interested in doing jv which further validate the potential seen in its Chilean operations

2. It removes the immediate risk of a further capital raising and negative dilution consequences as now has funds can use to employ/put into jv for drilling programme

3. It provides the ability to bring forward and execute a drilling programme to firm up resource potential for Chilean assets.

I was looking for a catalyst to hold a core holding in ady as opposed to just trading it. I think I now have that cataylst.

With conclusion of jv announcement, 5 cents by Christmas for this stock is reasonable...

With commerncement of drilling program target of 10 cents would then be realistic possibility........

Cheers

Londoner