massive, page-101

Kalenn:

I hold stock because (a) it's a small part of my portfolio and (b) I'm happy with the risk profile. Like I said, I like the company, just not because of management. I'm also a big believer in the global copper macro story. I think there we would agree.

Would I rather a $5 or $50 million free cash flow operation? I'd like a $5 million free flow operation followed by a $50 million free flow operation. If the 2010 plan was so cheap and feasible, AVB could have been mining long ago and using the profits to fund expansion. Which back then was what they said they were going to do.

Change in strategy or broken promise? I can't remember ever reading an ann which explained why they didn't pursue their original 2010 strategy.

In 2010 they used the phrase "very near term production"
In 2011 they said "for any early mining activities, a trial mining licence is required"
All through 2012 and 2013 they said "non dilutive".

I'll go with broken promise.