why i've sold down, page-73

Here are a few questions that I would like answers to :

1. Why is the SP so low considering the copper in the ground... normally valued at 3% of Copper metal price?

2. Clearly in order to strike a deal with the Smelter, proof of economic feasibility would need to have been thoroughly documented and tabled. No point in wasting good money building a mine unless it is very profitable. So why has this long-promised document not been shown to shareholders, with only a few scant parameters and broad statements revealed at the AGM presentation. Is it because it is in Potuguese and most would not understand it?

Even something like the 2010 Study would be a brilliant reference document.

3. What is the future, if any, of Conceicao.?

4. A visual report was excitedly made about 12-24 hole. 12-25 next door is greeted with absolute silence. Is that because it is so stunningly long and copper-rich that Directors are still trying to pick themselves up off the floor? Or is it because it was drilled so long ago that Directors have simply forgotten its existence.

5. What is the current budget for EXPLORATORY drilling. i.e. subtract admin costs, conceicao drilling, and infill budget from $10m, and see what is left, and then indicate the number of years this is to be spread over. Also an indication of the split between PB and the western properties would be good because by my calcs, that leaves barely tea-money for the western properties.

6. Soil sampling and auger drilling ... I thought there was plenty of data, millions of dollars worth.... and certainly enough to start drilling. Maybe not. Where is this work being done? because that indicates where AVB is going to next. I have to Assume the soil collectors are cruising around Nova Esperanca.

7. When will the Vale transaction be completed.? A bit like wanting to know the lotto numbers in advance. No hope.

8. What is being done to establish whether PB East and West DO in fact meet happily at depth. Is this a priority, or is the tantalising possiblity better to have than the reality?

9. In 12 months AVB will be out of money. Where is the money coming from then to support the payment of the rent of the WA office, and the nice secretary.

11. .... and the biggest question of all...... WHAT is at AN and PB depth where all the sections show a projected widening of the deposit. Is this wishful thinking or reality? What about a vertical Christmas-hole straight down to find out.? Roll the dice.

12. Why is question 10 missing? because I completely appreciate why they are not chasing the million dollars from Vale, and it is a non-issue.

Pardon my frustration..... but a few answers to key questions, and concise statements about what is actually happening... (I have no idea what the next 3-month drill program is).. would put some solid support behind the SP, and push it above the 10c level that those not-so-sophisticated-after-all investors paid in Nov. 2010