I think we had some decent support coming in from the buyers although the sellers were out in full force. However, the selling didn't feel very desperate or panicked and we didn't end up that much lower than prior to the trading halt. From the price action, I think we still have some legs up over the next few days, as I think, even though the new project wouldn't significant add value to AVB, it proves that our management team knows how to navigate this region, now both in terms of mining and playing the politics.
This imo will further derisk the company. From the numbers, I think around a $200 mil market cap will be a reasonable assumption for how the company is doing now just based on production from AN (albiet this is still a bit high imo). Once you start factoring in some positive speculation on the performance of the company, probably around 250mil for PB (we are still a while away) and now 300-350mil for this new gold project.
If what the company promises comes true, 12-13c is not out of the question by next July.
AVB Price at posting:
6.1¢ Sentiment: Buy Disclosure: Held
