While the Half Yearly accounts look miserable put it in context guys.
1.The auditors going concern clause mentioned negative assets however the bulk of liabilities is $17 mill YA Global loan. It has been reduced and the balance can be converted to shares at ADy's discretion.
2. Losses accrued yeh yeh. all start ups have them. look at Fortesques metals losses getting the Pilbara mine up and running its in the billion. they are profitable now but.
3. we are in maintenance mode only. so costs are minimal. We cannot start producing until we know we can do it profitably i agree. we do need more capital to increase to a higher volume. and IO metal prices have dropped.
4. again this company will sink and swim depending on March 24th outcome for balance of Wyndam shareholding.
Keeps your fingers crossed.
"Jo i know you have been burnt bit i give you a question why would YA global accept share alteratives to getting their cash. There must be more in it."
We all know this stock is high risk.
JD
ADY Price at posting:
1.7¢ Sentiment: Hold Disclosure: Held
