2018

Sales revenue of $46.1 million, cash costs average $1.49/lb. Royalties $3.2m Gross profit $7m and net profit of $1.1 million, EPS of 0.05 cents.
Latest: cash costs increasing at $1.51/lb and $1.83/lb.
Management took the decision to reduce plant throughput for the remainder of December.
Reliance on lower grade material will likely continue early into the first quarter 2018

Conclusions:
AVB is high COP relative to peers partly due to high power costs,
AVB cannot seem to contain, control or reduce COP
Miserable profit on sales of $1.1m when copper prices are high
Royalties are high and on production not profit, they are three times higher than profit.
Co has a higher reliance on continuing high copper prices than peers.