no comment, page-6

Options way out of the money...so an enterprise value of just $5 million.....(ie market cap minus cash).

JORC 240,000 tons of copper @ 11.5% - at surface

Compare AVB with $30m Queensland Mining Corporation, and their announcement today.

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QMC shares lift after Flamingo drilling May 18, 2010 - AAP

Queensland Mining Corporation Ltd (QMC) says it has hit a high grade copper mineralisation at its Flamingo copper-gold project.

Shares in the company defied market gloom to jump one cent, or 9.52 per cent, to 11.5 cents by 1420 AEST, following an announcement of the find.

QMC said the very high grade sulphide mineralisation was found the Flamingo project, located 110 kilometres from Cloncurry in Queensland's northwest.

The drilling program found an inferred resource of 117,000 tonnes, at 6.0 per cent copper and 1.8 per cent gold.

"The company is very excited about these encouraging initial drill results, particularly the high copper and gold contents," QMC said in a statement to the stock exchange.

It said 12 of the 15 drill holes yielded copper grades of above 0.2 per cent, representing an overall strike rate of 80 per cent.

2010 AAP
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