if Vale wanted to take AVB they would of made a move before they reached the agreement on the IO....
the "potential" revenue for AVB from the agreement was very close to the actual market cap of the company at that point with no consideration for the copper assets....
at that point the sp. was much lower & they could of made a play at under 10c a share & would of come across as a pretty freakin nice premium to market so an attractive proposal holders and good chance of gaining control - but they didn't...
Obviously they want more understanding of what's there without the need to undertake the work themselves....
Prove a resource & the chances are they may be prepared to walk in & pay a higher price - majors don't waste time & gamble on purchases they want to buy proven resources that they can mark against price over a defined period.
AVB Price at posting:
16.0¢ Sentiment: None Disclosure: Not Held
