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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: siempre33	7/23/2007 10:56:56 AM
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ADY.AX +46% on lithium find....http://finance.yahoo.com/q/cq?s=ADMRF.PK,ADY.AX&d=v2 The following article appeared late this evening in the Sydney Morning Herald... smh.com.au Admiralty soars on $44b lithium deposit IT IS not every day that a resources company lays claim to be sitting on a deposit with a value of more than $44 billion. But that is what Admiralty Resources has claimed for the lithium locked up with potash brines at its Rincon Salar project in northern Argentina. Lithium is one of the boom metals thanks to increasing use in hybrid car batteries and those found in hand-held devices. Potash has been no slouch either as its fertiliser properties are in increasing demand in line with rising living standards in China and India. A new reserve estimate for Rincon, released yesterday, showed that Admiralty has both in spades. But turning that in-the-brines potential into a profitable business is another matter. Admiralty noted that the new reserve estimate would at least "assist with the current negotiations for project financing for which the construction budget is $US106.4 million". Admiralty reckons the brines at Rincon contain an expected 1.4 million tonnes of lithium and 50.8 million tonnes of potash. Shares in Admiralty soared 18.5c, or 46 per cent, to 58.5c.

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