Hi guysI've been reading through recent posts here on ADY an am...

Hi guys

I've been reading through recent posts here on ADY an am appalled at those who claim to be in the know. If a select few have been given information it sounds to me like it is inside info and price sensitive. If management are giving this out, I am shocked and will place a big black negative marker against management of this one.

Funnily enough the bulls on this one have almost convinced me to sell my holdings because of their arrogance and claiming to be in the know. Zed asks some very good questions of you guys and responding by attacking him merely shows your lack of what really is the value of ADY's projects. Zed does you a favour by asking you to go over your numbers because it makes you question all angles.

By the way, you all seem to have forgotten the US$1.7m p.a that is receiveable for the NILNAV royalty. That underwrites at least 5c a share of value for ADY, although with any capital raising that will be diluted. That is why I am here, little downside and if they can just find a way to produce lithium carbonate, rather than chloride they may well be a 20c stock soon.

Regarding the valuation report, I'm with the bears. It is complete bollocks. It is either plainly wrong or badly written. You simply cannot multiply and NPV by any number especially a P/E. Don't try and tell me the interpretation because I know my stuff and have written many valuation reports myself and am qualified in that area. Nevertheless, even the low case NPV, coupled with NILNAV and other potential projects supports are price north of here.

IMO the best way to develop Rincon is to partner with an existing player (SQM) to use their knowledge and skill. That would be a massive endorsement of the project.

Also, for what it is worth, I don't think the Iron ore projects will fly at current iron ore prices. I hope they can find some desperate Chinese steel foundrys who will stump up. ADY would never be first in line to get into these projects if they were easily commercial.

Flash