All I did was take the working capital they raised in the last raising and divided the working capital component by my estimate for a quarter ~400k. These guys only really get motivated when they don't know if they can pay director fees. 2.1m / 400k = 5.25 quarters. There is only a few more months until they can raise capital again without shareholder approval. I am sure the sophisticated investors will agree this year at the AGM that AVB should be able to raise as much as they can off market. We know they don't want to buy at market because the price would go through the roof there is just not enough people willing to give their shares up at current prices. The next raising will secure enough capital to complete the mine. The mine will be built and commissioned and then somebody will ask what about the mining licence. Its xmas eve tomorrow we better ring up and see where it is because we are shipping concentrate next week. And then a phone call, an email and an ASX release later will be in business.
AVB Price at posting:
9.1¢ Sentiment: Hold Disclosure: Held
