fundamentals, page-15

Some light reading as background for those feeling nervous about the process.

"Although the Brazilian legal system provides for two types of titles, one for exploration and one for
mining, it does grant security that the holder of an exploration licence can mine the ore body it has
eventually discovered. The government is obligated to grant a mining concession to a person that has
explored, identified a resource, obtained the approval of the exploration report by the DNPM, filed
applications for a mining concession in a timely manner and obtained the LI. The only reasons for not
granting the concession would be on the grounds of public interest or if the Federal Government
considers that it could have a negative effect on certain interests which are more important than mineral
exploitation. In the latter case, the applicant is entitled to be indemnified by the Federal Government for
any expenses incurred relating to the exploration work, in those cases where the final exploration report
has already been approved"

http://www.lagodourado.com/pdfs/articles/Summary_of_Brazilian_Mining_Legislation.pdf

In essence, as AVB have an approved exploration report it is just a matter of when not if they get full mining licence. The boxes are getting ticked...the process takes time.