AVB current SHARES 780,953,517, MC$109M @$0.14 PS;
High grade zones look impressive. AVB Rio Verde Copper Project in the Carajas region of Brazil. The Carajas is dominated by global majors (Cudelco, Xstrata, Anglo, Teck Cominco) exploring/developing large copper sulphide projects.
AVB Previous drilling confirming the existence of an exceptionally high grade copper zone: ARVD-80 32.0m at 14.79% Copper from 1.0m Incl. 9.0m at 50.49% Copper from 18.0m A maiden indicated and inferred JORC compliant resource for the Antas South Deposit indicating an exceptionally high grade JORC resource of: 210,000t at 11.65% copper, containing 24,400t of copper.
Near term drilling:
50,000m drill programme is aggressively expanded with five rigs already operation.
With drilling activity expanding and a number of new Carajas project developments at an advanced stage of negotiation, significant news flow is anticipated over the coming months.
Target price 20cents
AVB Price at posting:
14.5¢ Sentiment: ST Buy Disclosure: Held
