Ann: Results of Annual General Meeting-AVB.AX, page-126

Thanks Guys, if my head wasn't in a fog I could probably do a lot better.

I may be repeating myself but just in case no one has mentioned it...

There is no concern about off take partners. The current partner is taking all concentrate and wants to take all concentrate. What AVB want is a second partner as a contingency partner in case of a smelter blowing up or such with the current contract. Cashflow is essential to an operating miner so if one partner goes down and declares force majeur for any reason you need a second partner to take up the slack. Obviously they want that second partner to offer as good a deal as well. (I've heard the terms of the deal are about as good as this type of deal gets).

I think TP is conservative by nature which in this macro may be a very good thing. I don't think that means he hasn't got scenarios ready for a better copper price though. I think it just means he wont build expectation in the market without it being the current operational plan. Not the best thing if you want a quick movement in the share price but not necessarily that bad otherwise.

TP on boardroom with Kalenn asking the questions ... Better than water board torture