Adanac Molybdenum Corporation AUAYF

RE: Financial delay

[7phigyers]

Wow, VENman clearly you have no idea of the burn cash rates this mine has and will be achieving.That 15M is but a fraction of the total financing needed to biuld this mine.Look at it in these terms. 600M + to build the mine Initially we were proposing to be in production early 09. So if we started building the mine in Jan. 08 and give it 18months to construct that's an average of more that 33M in spending per month.And remember we did have a full construction contingent on site until the shut down in late Jan. Drilling was to continue and still is as far as the most recent news release pertaining to it goes. And even if those costs weren't factored in in the 15M they recieved in December they have staff to pay as well as the long lead items to make payments on. The list goes on and I could continue,but the long and short of it is that money is long gone and then some. I just hope they left a litte money in the kitty to keep things afloat,cause the reality of losing those long lead items will be a pill too bitter to swallow. One bright note is that they have been hiring key people in the finance and accounting departments ,and assuming they wouldn't hire these professionals for a short period to only close their doors and leave a tidy little mess of paper work, their intentions must be to give them something to manage.But I digress. Here's to hopin' the long painful bleed of unfavorable NR's are done. AUA long. L8R