Ann: Avenira launches Share Purchase Plan, page-17

Hi @Barry81 thanks for the invite to comment.

Unfortunately the need to pay bills has kept me busy, and  so I haven't really had a chance to review the SPP.

I am disappointed that management didn't lean more heavily on the banks back in January, when they announced their financing package. Working capital is one of those aspects of project financing that often seems to be overlooked, or rather, under estimated by mining companies.

For a gold miner, it's probably not a big deal, the money is in your bank account within a few days of the bar landing at the refinery. But for a bulk commodity, that needs to establish its bona fides in the market, it could take a while to establish, regular, reliable income. So a much larger working capital amount is required.

As for me taking up the SPP. I already have too much exposure to this company, so I won't be participating, and I have never bought the "average down" philosophy, that I read in this, and many other threads. If everything goes pear shaped, all you have done, is expose yourself to a greater loss.

Cheers

MinerAeros