1. The $30 million from BV is still non-binding
2. BV split the $58 million loan into $30 million and $28 million
3. The JORC 2012 Update excluded $10 million for working capital from the mine costs
4. Expert opinion was sort to justify the BR deal after the bank loan was split
5. AVB have probably spent around $7 million of the mine costs already from the cash in bank
6. It was decided not to spend any of the cash on exploration until the finance was signed off
7. AVB has about $30 million in the bank
From the points above, one outcome is that we end up with a bank loan of $30 million not $58 million.
AVB Price at posting:
8.8¢ Sentiment: Buy Disclosure: Held
