Don’t forget AVB bought this land originally to mine the surface oar which was not economical for the big guys. We did the capital raising to see if there was copper at depth and now there is so were laughing.
Investment Highlights
• Carnivale! AVB continues to build momentum at its 100% owned Rio Verde project in the Carajas Region of Brazil. Recent drilling has confirmed extensive near-surface copper oxide mineralisation, with the latest holes at Antas South intersecting bonanza copper grades including: o 38m @ 7.49% Cu from surface (inc. 14m @ 18.99% Cu from 22m) o 26m @ 5.47% Cu from 18m (inc. 6m @ 21.02% Cu from 32m) o 20m @ 5.12% Cu from 13m (inc. 4m @ 21.53% Cu from 17m) • First mover on oxide strategy. The Carajas is dominated by global majors (Cudelco, Xstrata, Anglo, Teck Cominco) exploring/developing large copper sulphide projects with little consideration paid to oxide resources. AVB strategy is focussed on development of proximal near-surface oxide potential and is targeting first copper cathode production in CY10.
