Predicting the future is crystal ball gazing at best.After our...

Predicting the future is crystal ball gazing at best.

After our disappointment with ADY thanks to an average talented Board what can we see ahead?

1. Rincon sold this week for say A$36m.

2. Loans ( Hawkswood; YA Global; Investors; etc)of A$28m all paid by next week. ADY now has funds to pay directors salaries and resignation packages.

3. Besalco invoices (US$3.6m ?) for Sept and Oct paid in full.

4. Income from the Oct sales from Wisco of iron ore. Say US$3.5m

5. Phil Thomas resignation from ADY and new appointment as consultant with owners( UK based) of Charge Resources.

6. Besalco court case seeking US$80 plus of damages for contract failure settled out of court for a few million pesos. Will the Chilean court favour Aussies against the locals? NO

7. Resolution of court case ADY seeking US$1m overpayment to Wyndham. ADY deserves the refund as it advanced it in error ( bad bookkeeping by Phil) back in 2007 and Leonardo has invested it at a profit.

8. Resolution of court case by Wyndham against ADY for late payment for the 10% of Santa Barbara and ADY sp fall. Sorry Leonardo. You tried not to pay taxes and got caught out could be the verdict.

9. Wyndham Ex does not pay the US$20m loan to ADY for the 40% Vallenar stake. Did you ever expect to retain that 40% Leonardo? Sorry I forgot that you are no longer on the Wyndham Board.In this environment US$20m for such a small stake is very expensive.

10. Possible JV with Wisco to develop all the iron ore tenements. But wait... Wisco in in the drivers seat as production increases each each until 6m tonnes pa is achieved.

11. Withdrawal of writ re Leonardo milking Santa Barbara. We cannot afford to upset the next Chilean president otherwise our iron ore asset will be taken over.

12. The sell price you say? Well 2c by Christmas 2008; 7c by end 2009; 12c by end 2010.

Thats all folks!!!!