you got your news and still complain, page-6

Hawkswood's administrators know how tough credit is right now, and
that if they applied to wind up ADY it would take them years. these
usury rates, so long as there are partial payments coming through to them,
would be quite satisfactory to them. I daresay a similar deal is being
hammered out with YA Global now (billions of dollars of iron and lithium
as the security v $10m and $20m of debt), with say a similar step up rate for a few months

even without this hawkswood and YA crunch, I don't see Merrill Lynch
ponying up $200m. its going to be a year or more before anybody would
entertain lending that sort of money to a company like ADY, all i hope
is that they cut overheads (dunno how much there is of that which could be cut)
and sell as much iron/lithium as they can with their current capacity.

the other option for ADY is to issue more shares, which they have done
plenty of already, but at the current shareprice would really do in
all the rest of the shareholders' value. i got the feeling they might need
to do at least a bit of this in the next month or two, to get some interest payments
to Hawkswood and YA Global.

PT has convinced financiers before, sounds like he gives great
presentation (he is a BS artiste extraordinaire). a bunch of others
are suing ADY but by the sounds ADY is suing ANZ and Chileans for much
greater sums, i got the feeling lawyers will make more for ADY in the
next year than miners will.

the question for me now is whether to average down in the next few
days or hold out for the next placement (3c mentioned on HC tonight)