whats worst case cash backing?, page-15

Pedjudi,

The iron situation effects the probability Vale will pay any money for the agreement it has with AVB.

Hence when pricing for worst case cash backing ATM of $12mil maybe $11mil as the company is a going concern (ie spending money on current business)

I read one other poster that dared to be bearish wrote on AVB a capital raising is likely - with no Vale payment by say June 30, 2013 ....only 1 year away...given cash burn required for all current ambitions.

No interest in this ATM for me until mkt cap close to cash backing...IMO DYOR

Regards

Hawkish