In order for ADY to stay alive last Oct Phil only had to repay Hawkswood receivers.
He did say that ADY could have survived on little cash for several months until everything blew over.I am unsure whether he took into consideration the Besalco invoices that were outstanding.
YA Global had make him an offer for a loan at that time which I was told the company did not accept. As far as the other costs ( ie port ; Rincon, gear replacement etc) you quote they could have waited until larger funds arrived in 2009. Look at how many miners have been able to secure loans. Several from YA Global.
Anyway... love him as much as you like. He was in charge when ADY sp went from 67c to 1 cent. Great achievement for shareholders ?
In order for ADY to stay alive last Oct Phil only had to repay...
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