Supposedly the reason for the money worries was low production caused by not being able to crush larger pieces of ore, but I make this point in the latest presentation of 20 october(on the wbsite under investor centre) they talk about 3million tons on fines that have been there since the sixtys. at a ratio of 11/1 the value would be 18million US at $65 a ton why did they not use this ore over the last year. The report tells of a glossy future for ADY and Rincon but at the time of the release the lithium was well on the way to being sold(charge resources was set up on the 20th)The negotiations must have being going on well before this date. This shows that the management were not keeping the market informed about the state of company and in fact were releasing false statements to us all. If you have a chance, look at the glowing forecasts about the demerger and Iron ore future The Directors of the company are accountable for the releases and ASIC and the ASX should investigate
ADY Price at posting:
1.9¢ Sentiment: None Disclosure: Held
