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Surf...I certainly get your point about the profit erosion. I...

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pickawinna

381 Posts.

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14/03/18

10:48

Post #: 31739530
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Originally posted by SurfsUpDoods ↑

What i am saying is that in their negotiations, AVB like to give away small %'s of the pie.
This could be justified - e.g. can't buy debt.
Those %'s add up.
Even though we have no debt we have on going royalties.
At least with debt, it eventually stops.

Now, we have not seen the rest of the Centro story unfold. A lot of expenditure to come.
More royalities? BR or another fund going to sharpen their pencil?
Slowly the $500M gets eroded away!

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Surf...I certainly get your point about the profit erosion.
I really think this time we will be debt funded. I reckon that is why management is cracking on with drilling and feasibilities...so they can get financing sorted.
Impressive to think how soon we could be mining one of the bigger gold deposits in Brazil

AVB Price at posting: 7.6¢ Sentiment: Buy Disclosure: Held
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