ya global, page-3

quite simple, because YA will be one big investor in Charge Resources and they convert their debt into RLL-equity.

it is no rocket science that one of the most cunning (and ruthless) PIPE players in the universe like Cornell (YA) would let ADY go along with an RLL-demerger while Cornell has no forced conversion trigger.

just look at the history of Cornell/ADY convertbiles and the misleading information provided by PT.

“The most exciting development was the
commissioning of the lithium carbonate
and potash pi lot plant at the Rincon,
Argentina heralding the first phase of
production for this exciting project”.

“As part of our funding strategy, we
are seeking to sell 10% of
production (1,600 tonnes oflithium product) in a tender for
ten years (16,000 tonnes in total).
Our clients will pay as a lump sum
the “operating profit” component
discounted on a historical cash flow
basis. This money will be used
to build the final plant. It will be
supplemented by bank debt and
project finance”.
[Source: ADY annual report 2/10/2008]

This is misleading information again by PT - no update on the tender lately - this "deal" will definetly go to the courts and the monies will be freezed until this issue is resolved. ADY is a public listed company but PT acted like the CIA.

The only thing that surprises me is that PT still is in charge. After all the lies and misleading information he provided (stockpiles, forced conversion of first Cornell installment, tender....) ASIC and ASX should replace him a.s.a.p.

Lenni