Ann: Investor Presentation, page-13

I agree the price movement does not make any sense but I can see why it might not make sense. The small cap market has not been rising despite the ASX 200 making progress the last few days. In the small cap segment the market sentiment seems to be more or less as I posted previously - "show me the money now". If it is not apparent that there is some immediate return then in almost every case the uncertainty prevailing in the macro market will trump positive rhetoric about guidance and outlook. AVA is not the only one suffering this trend despite reasonable potential and future metrics improvement. The outlook here was quite positive without giving any dollar figures but I think AVA holders have seen this language before and are aware that updates are often a long way apart and have not met the outlook sentiment that was expressed. Personally I am sitting underwater on what I have got and would only move forward when I see that the progress matches the rhetoric and is consistent. In this market consistency is an important element in overcoming the uncertainty.