This is the bear market for copper where the bottom nearing ( if not already here). Easy to bash the share price. I like many others here are positioning for an inevitable rebound in copper prices. The key difference with avb being that it is growing and able to withstand low copper prices should they drag on longer than I expected.
Not sure why others are bashing the new PB plan. It essentially is having the mine being developed minus the plant. This will save a lot of capital expenditure and time. lets assume the total capex to get Mine+plant up is 150m whilst just the mine+AN plant upgrade is 50m. This can be done in less than 8months. This can easily be funded via existing cash, future cashflow or loan facility.
Trucking the ore 50km might seem expensive but this is Brazil and the AN plant will benefit from economies of scale.
When copper recovers or avb starts having enough cash, they can build the plant at AVB. This will lead AN with spare capacity to either toll treat other nearby deposits owned by other companies or even start expanding Antas south.
This plan is definitely better than waiting multiple years to build up cash or incurring a crippling amount of debt or dilution to get a second plant running. Good risk management and not over stretching themselves in very volatile times.
