ADY admiralty resources nl.

ship to sail next two weeks

  1. 4,287 Posts.
    Good morning passengers
    Nearly two weeks ago I posted under the above heading. Has the ship sailed? Well if i'm honest the answer is no. However, a lot of things have started and imho are starting to happen. I notice there is a lot of negative sentiment on here. I understand the disgust and anger towards pt's actions in the past and this forum is about discussion and differing points of view. However, we have a new captain at the helm who imho is honest and forthright. So as I said in the other post, if you think the ship is going to sink it is time to sell your position. So what has happened in the last two weeks?
    We have had a suspension
    We have had an annual report
    We have had a rights offer
    Mike Clarke is no longer a director
    Where does this leave us as holders???
    Imho the suspension means nothing and was not the beginning of the end.
    The annual report clearly outlines a path for production and how that is going to take place, though I have to admit I missed the part on the rights offer.
    The rights offer imho is a chance for holders to gain a greater percentage of the company at a discount and one way or another global will be gone. That can be nothing but good for the company. Others might think this is a final cash grab by the company.
    Mike Clarke is no longer a director of ady but is still in Chile and will stay on as part of the team. This is great news as he has the inside knowledge to get a jv up and running in Chile imho.
    The future?
    In the next month we will see imho:
    Rights offer close and be taken up in part/full
    Ann regarding sale of i/o and mining pieces (it may be earlier than that)
    PROVEN resource upgrades, not just inferred and indicated
    At the end of November we will have the agm
    JA's option will expire or transfer over to fullypaid shares at 10 cps
    Future direction of jv - although I think Buddfox will be closer to the mark with his call in December of jv partner. As things stand my bags are packed and I might be buying more luggage. Thanks for reading folks and happy sailing.
    PGamble


 
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