Is there any underlying reason why you would think Indian Ocean Capital would be involved with Admiralty?
The only situation I can think of is that perhaps they were involved in the $2million placement back on the 11th March 2010.
The last I heard of IOC was that they were involved in a placement with a company called Mamba Minerals. Apparently IOC would not assist Mamba unless certain directors resigned from the board of Mamba. I think it may have turned sour and the placement did not proceed.
Perhaps ADY have gone to IOC for advice on alternative funding options, both to stay open and to may be calculate how much additional funding they could get to commence mining operations should any partcipation of a joint venture partner be limited and less than the amount ADY require.
Its something we would never know for sure until some form of announcement.
That's just my thoughts anyway.
ADY Price at posting:
3.5¢ Sentiment: Hold Disclosure: Held
