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ADY - ADMIRALTY RESOURCES NL.


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IN REPLY TO A POST BY ADMIN1, Mon 19/01/04 08:31am   [READ POST]

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Anyone following this stock? I am interested in their 10% ownership of NILNAV and the non-invasive hip replacement surgery. seem to be getting a lot of priae in Europe from medical specialists in this field. Anyone got any comments?

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  • 1 month later...

Hi P-Plater

 

The 10% holding in NILNAV seems on the surface to be a very astute investment.

 

Revenue streams from that will allow the exploration activity to step up a gear, plus the $2m debt facility means shareholders should not be further diluted.

 

Certainly worth an inspection.

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ADY has been affected recently along with most other small mining specs. I have been accumulating during this weakness.

 

I spoke yesterday to one of the directors, to satisfy myself that all is on track, and was satisfied with his answers.

 

NILNAV is on track, the RINCON SALAR salt chemistry results are due very soon, and the due diligence on iron ore is also due soon.

 

I would expect further announcements shortly.

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  • 3 weeks later...

Announced Yesterday....................

 

Maanshan Iron and Steel Iron Ore Order

The Board of Admiralty Resources NL has received correspondence from

Maanshan Iron and Steel (MIS) regarding the samples of iron ore sent to them

from the Chilean iron ore prospect.

After MIS tested and analysed the samples, they requested details of when we

can ship the iron ore to them and in what quantities.

The Directors are still completing their due diligence on El Tofo and other iron ore

projects in Chile.

The Rincon Salar, Argentina

The board has had an interim report from Hazen Laboratories who have

indicated that they are two weeks away from completing their final evaporation

process testing on the Salar brine and they will require a further two weeks to

complete their analytical report.

Frank Edge

Director

 

------------------------------------

 

I like the phrase due diligence on EL Tofo and other iron ore project in Chile. This fits in with previous comments that iron ore demand from China was very robust

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Any thoughts and/or opinions on this co. anyone ??? http://www.ShareScene.com/html/emoticons/tongue.gif
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Recent quarterly activities report was very (unbelievably?) bullish on a number of fronts. Perhaps the enthusiasm of the new mgt coming through. The first iron ore attempt came up blank so not sure what the next try will do. Rincon still the big chance but still a pretty long shot.

 

Over (holding)

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