I think we can bet on 10.5c to 11.0c for the next 3 days. In the short term the Q2 report will determine where our price goes over the next few weeks. Normally a quarterly wouldn't add much to what has been factored into the current share price. However, if I am a typical example, there is a higher level of anticipation that the Q2 Report may fill in what hasn't been broadcast regarding the activities over the last 3 months.
The FML may be more pivotal to our overall plans then we first envisaged. That is, we may be holding some spending back to be safer than sorry.
Some have said that the FML is a make or break. While we are 100% certain that the FML is a formality, until we have the signed piece of paper it is still not 100% certain. This is backed up by BlackRock signing a binding terms of agreement but still the Ore Reserve and FML conditions have to be satisfied.
I would expect that one part of the approval process is local consideration. If the FML was rejected does that mean we are sunk altogether? While it would be a significant blow, we still have other mining options with PB in particular and other tenements.
IMO, the odds are that we will get the FML for AN. But until we do, we may be holding back spending on Stage 2 and 3 just in case. Very unlikely, but a delay to Stage 2 and 3 is not as critical as making sure that Stage 1 is a definite and underway.
AVB Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
