I note a fair few negative comments etc today. People who think...

I note a fair few negative comments etc today. People who think the company is just re-hashing old news.

Well I was cheering. Why? Because the agreement with Blackrock is now set in stone. It has now been made binding, meaning that as long as AVB satisfy the conditions precedent (FML and JORC which based on the drilling and progress with the DPNM appear only be formalities) Blackrock cannot exit the agreement and must provide the funding.

Also not to be discounted is that the BV funding is further along the chain. If they're looking for banks to syndicate the deal out to then they must consider it close. Whilst there can be delays syndication generally means that the deal is close. Basically once the syndication is sorted all the banks (and AVB) will have their lawyers sort out the documentation and spend a few weeks arguing over the finer details.