Acadian Mining Corporation ADAIF

RE: RE: Buumms

[ja_prufrock]

From my 12/07/09 post:

4) I suspect that the Aussies will run this show and the ADA legacy mgt will be puppets with office spaces and token titles while they develop an exit strategy for them.  It would not suprise me to see the Aussies use the RRO assets as an exit strategy for the legacy mgt  and spin them both out the door together.  But who knows; maybe they see value in RRO, also.  Give them time to see where they want to go. 

It is impossible to know what deals, (if any), were struck between  Diamond Joe and the Legacy Mgt to complete the infusion of rescue funds into ADA.  If, indeed, Legacy Mgt ends up with ADA's interest in RRO,  this could be part of a prearranged deal, but that begs the question of why Joe put his own men into RRO.  The thing that now appears certain is that ADA has raised some cash ($1.96MM) and, apparently, still has the mill.  It will be interesting to see who actually bought the ADA interest in RRO, and what now happens with the Diamond Joe/RRO equation.

Respectfully,

JA_P