With all due respect, the share price sits where it sits because the market has next to no interest in any resource related stocks at present, let alone a speccie (no matter how de-risked AVB is becoming by the day). Two years ago, any half baked resource play could have announced the opening of an envelope and the share price would have jumped 20-30% overnight. Have you checked the price charts of small cap resource stocks across the board, had a look at the likes of SFR, SIR, TGS, HCH, CDU etc etc etc all compared to where their share price sat 12-24 months ago? It has Zilch to do with the fact AVB have yet to announce finance. I'm very surprised Happy Hippy didn't take you to task on that comment because he's been telling all and sundry that finance signoff won't move the share price northwards.
Awoonga, seriously if you are coming to the AGM, ask them the questions you are seeking the answers to. They will be forthcoming with responses. As much as we all like to think that the world of business and mining should be as simple as 1 + 1 = 2, you know that isn't the real world. At any given time, the board has far more data, offers and advice in front to them than we ever get to see, such as flagging the arrival of significant headwinds in the global stockmarkets for resource majors and minnows alike. That would have been on their board table last year and no surprise that we now find ourselves smack bang in the middle of a prolonged downturn and lack of interest in resource plays. So they proceeded with caution, smart move in my book. Thankfully, the cycle will turn as it always does for resources (spent years working for BHP and North Ltd so lived through plenty of cycles). When it does, AVB will be as well placed as anyone to make us all some good money. I'm just not sure some have the patience.
If the Board saw the approaches from BlackRock and Appian as insurance in their discussions with the bankers and financiers to ensure the Banco finance got over the line, again, prudent management in a market that is so far off its highs it ain't funny. Again, ask the Board in Perth or any small resource hopeful Board for that matter what it is like out there doing business (or trying to in the last 12-18 months) and the answers will make your hair stand on end. RE PB, what if there is a far more 'potentially positive' reason that they haven't started? What if other opportunities are currently or about to present themselves? See it just isn't always that black and white and it wouldn't be prudent for the Board to be flagging every strategic decision and move publicly just because we small shareholders would like to get up each day knowing when and why. Sometimes saying too much is counter productive. Believe me, they are thinking about more than just next week and next year and so are BlackRock and Appian.
In a perfect world, the Board of any company would explain to shareholders weekly why every decision they make was made and for what reasons. It is impossible for them to do so for a whole range of reasons including regulatory, commercial competitive tensions, legal, negotiation tactics, governance and even differences of opinion between Board members and management themselves about strategy (this is healthy imo). We've all asked for better communication and it is on the improve but at the end of the day, they are the people that shareholders have either voted in or we shareholders have decided to invest in the company that the Directors have established. We all have a choice where to put our money!
Gotta say, it is a bit ridiculous imo to be slagging off the Board about the wording of the latest update about when finance will be signed off. Seems like no matter what the Board do, they are damned if they say nothing and damned if they say anything at all. For some posters, anything the AVB Board say and do is never good enough. I truly hope you get on the plane to Perth, it will enlighten you in a lot of ways having Tony and Simon answer your questions. You will also see that the AVB shareholders in attendance are not clueless flag wavers, most have and do a lot more detailed research than they let on about on this forum. And they 'hate' a drink and a laugh so if nothing else, you'll go home with a hangover.
AVB Price at posting:
9.0¢ Sentiment: Buy Disclosure: Held
