It is unsubstantiated that Tony Polglase’s Overland Resources base metals project in the Yukon was a complete & utter failure.
It is unsubstantiated that the Yukon project indeed failed DESPITE 3 years of resource upgrades that consistently improved the economics of the project.
It is unsubstantiated that Tony Polglase and Matt Wood’s Lichvaz mine was a failure that NEVER produced a single $ of profit let alone the tens of millions forecast by the models.
It is unsubstantiated that Tamaya Resources subsequently had to write down the entire $141m of the Lichvaz assets, and that even after going into Administration, the receivers couldn’t even sell Lichvaz for $1.
It is unsubstantiated that the broader market has zero interest in AVB.
It is unsubstantiated that Vale no longer have any interest in contributing to the project (where have those tens of millions gone?).
It is unsubstantiated that TP mentioned (in a Boardroom Radio interview) in early 2010 that a scoping study for the Tocantins River barging option needed to be addressed. And if it has since been addressed, why hasn’t it been mentioned since? Is this still an issue or has it been resolved? (please go and check the recording).
It is unsubstantiated that to date – greater than 3 months since announcement – that the $58m loan facility is still not a done deal because AVB haven’t secured the $12m equity component.
It is unsubstantiated that the company blew its Jun Qtr cashflow budget by 85% (spent $1.85m in lieu of $1m forecast a mere 3 months earlier).
It is unsubstantiated that AVB have less than $3m left in the kitty as at Sep-13?
It is unsubstantiated that the company was unable to fulfil last year’s AGM/Annual Report vision to be mining by 2nd half 2013.
It is unsubstantiated that as a result of the above sorts of clouds, the share price has done NOTHING since falling of a cliff in November 2012 (from 13c and to 8c) and is STILL at 8c 11 months later in Oct-13.
It is unsubstantiated that the share price remains 45% below the levels it traded at between October 2010 and April 2011
It is unsubstantiated that the share price remains 20% below the levels it traded at between July 2011 through October 2012.
Please advise which of the above ACTUAL HISTORICAL events are false.
By all means I respect your right to draw your own different conclusions, and form your own judgements about the viability of AVB however please don’t mislead readers on HC by inferring that I have no substantiated basis for outlining the above FACTS. Try also to debate the issues, rather than play the man/woman.
I may not agree with your conclusions, but I will respect your right to debate the issues and have your own opinion. However when posting in future try and support your own 10c price ramps with substance of your own. Your posts will then have more credibility of their own.
Goodbye
AVB Price at posting:
8.1¢ Sentiment: None Disclosure: Not Held
