p & d, page-118

Ajostu, nice post, thumbs up from me.

Some background if I may. Over the years of following the spec end, there have been hundreds of speculative outbreaks in the market, with the pom pom brigade arriving not long after. It usually goes like this:
1. a base, industrial or precious metal is enjoying an increase in price or a new 'discovery' is made (SFR, SIR are contemporary examples);
2. various clever spec end mgt teams seize upon this and start to manufacture some newsflow. The trending topics at the moment are nickel sulphide deposits and graphite deposits.
2. the share price becomes artificially inflated and invariable an opportunistic cap raising ensues.
3. the heat comes out of the commodity price or the drill campaign peters out.
4. the share becomes yesterday's hero. It is a short-term speculative bubble.
5. the cycle repeats itself.

So when posters start saying things like mgt should engineer newsflow, mgt should be more like XXX Ltd that is showing up on the HC banner for the day, I find these types of comments to be particularly mindless. At the moment, such short-term focused, non value adding posts seem to be clogging up this thread IMO.

I agree, btw, with many of your points apart from your conclusion which seems to be that AVB management is atypically worse than many speculative mining explorers. For me, they are on a par with many in a sector that is usually run by a bunch of geologists who are better at exploring than investor relations. By all means, vent and rail against this if you wish. But for some posters to go on and on and on about how 'poor' mgt are without providing this wider context is incorrect IMO. This is not analysis - this is self medicating for 'stale bulls'.

Sure, with AVB, there are things mgt can do better - off course there is. For instance, by telegraphing that they were stepping out 100m to the market, they set AVB up for a classic 'p & d'. Frustrating. In the past, much was made about the HGZ, Agua Boa, Serra Verde and other such campaigns - these have since simply fallen off the radar. Frustrating again. I am concerned about funding, too, and mixed messaged of where they are at with this. Frustrating again. But, and this is the key here, i once again do not believe this to be atypical of many other spec stock journeys.

Mgt have more wins than losses at the moment and AN/PB are well on the path to being profitable, albeit small scale, copper mines. That is the investment hypothesis here and I believe they will get there. If they do, then kudos to this mgt team as doing what they have done in the teeth of the GFC is a credit to them.

Hence I disagree with the inference on these threads that AVB is the Enron of the copper explorers, run by incompetents, charlatans and sharks. This, IMO, is not the case.

None of this, by the way, is directed at your thoughtful analysis.