Avanco

I have been a shareholder since 2010. In the period between then and now I have been through all the good times and hard times with AVB. Shared the ups and downs.

To me it has been a model company with a Board and operational Management consisting of wonderful people of the highest calibre. Top people. The market has never reflected the real value of AVB. A major disconnect. Proof of that statement can be seen in the fact that the share price was 7.7c on market and when 17c is offered, it is called fair by analyst reports.. or not enough by a few!.

When such a major share price disconnect exists, it can make it hard to hang in there and be a large investor. One can only live with "Oh, one day the market will recognize AVB's true worth just wait a bit longer"... for so long.

Over the years, it must have been frustrating and disappointing for AVB Management. The hard-earned glory and reward should include a steadily increasing share price. Not a sudden doubling!

Especially the painful times when new shares were issued "at market", when the market was just not a reflection of value.

As a passive investor, I often thought that I did not want a Great Announcement because on the day, the SP would only finish by being down! So much for the market.

I can only imagine the long hours, dedication, and time spent steadily building up relationships with locals, and majors too such as Vale... and others. The extra mile. Establishing a positive presence. You do not really see those things in Quarterlies. Maybe a line or oblique reference to it buried in an Annual Report and that's all.

Avanco's history has been a series of enormously positive strategic moves and astute acquisitions... with Tony Polglase at the helm. Today there may only be one hole in the ground, at Antas North, and a small one at Pedra Branca.. but the years of hard work have given Avanco several projects that are on the cusp of development. A suite of exciting profitable ready-to-go projects, not to mention extensive highly prospective exploration ground where preliminary and historic drilling has hinted at huge things to come. Getting to that point represents hard work and in the end a large intangible corporate value too. It takes years of unsung work to get there. How many beers with Vale, or contributions to local community causes. To now firmly hold the keys to several golden doors.

Anyway.. as said, the Market is not the measure of the Man.

What a great bunch of blokes at Avanco!!!

I have stuck with them exclusively over the years.. only venturing out to have an occasional very small and usually unsuccessful foray into some speccy... but always dropping the (remains) of that bit of capital back into AVB.

To list all the names of Management would be to run the risk of missing some. It is not just the Top Tier guys either, but the middle management too... right down the management structure. Everyone.

Anyone can be a cheap backrow unrelenting critic.. sniping ... tearing down. Those folk appropriately tend to stay in the back row... they never progress. Posting ill-informed nonsense about Avanco. I simply dismiss that for what it is.. and it is nothing.

I have travelled the path with Avanco management for eight years, albeit at a distance, following every twist and turn in the company.

A stimulating and educating experience for me.. and best of all.. (at the end of the day!) a Highly Financially Rewarding one too...

No regrets about hanging in there and while faith is not always rewarded, for me it has been.

Humble and grateful, and I have to pay tribute to the AVB guys, even if a few words is not a lot to give back to them.

To Avanco Management go my sincere thanks and appreciation.