Whilst I agree that this is what the Aug 19 announcement states, point 6 is dramatically different to the following 2 sentances taken from todays announcement.
"On satisfactory completion of drilling, resource determinations and payment of US$10m to $40m, Vale will have satisfied conditions precedent and will have earned the right to 100% ownership of Trindade North."
"Vale has been granted exclusive exploration rights and can earn the right to exercise an option to acquire sole ownership of the property."
For mine, the utterances "100%" and "sole" means ALL of TN, not just the IO rights.
Lets hope AVB clear this up with a revised announcement. As it reads now, there is no recourse if other mineralisation is found.
I expect it is an oversight on AVB's behalf, but you never know until it is clarified.
HB
AVB Price at posting:
17.5¢ Sentiment: ST Buy Disclosure: Held
