Aviva (AVA) Had a gold project in Kenya which they recently sold to African Barrick Gold for $20mn. They also get a further $10mn as further ounces are found but don’t worry about that. Has a coal project on Botswana – Mmamantswe which they are keen on and may buy further packages in the area to build their base. Rob Kirkland and MD Lindsay Reed they are good operators. Cash Backing on this is a tick over 12 cents per share. Been well below cash backing at about 8.5 cents as waiting for funds to hit account – that happened 26th of Oct! Just waiting to see what they do with the cash and I think a copper/gold project in Africa is on the cards – and pretty soon. Been slowly trading up and sellers drying up and I think once they put a new project in place the market will react well to this. Relatively safe bet below cash backing and on the move so a good time to jump in
