well well well, page-54

I think the thread title is fitting - it is indeed a point that offers much room for people to decipher the exact value of the deal & why Xstrata would make this move.

** Firstly Xstrata is willing to offload Pedra Branca for 15% of Avanco which really means ? ?

** 15% of AVB = $11M at current market price

** Why would Xstrata outsource the resource for a minority stake if they saw a large potential to move forward ? ?

** Doubling AVB's resource means effectively Xstrata's sale value of Pedra Branca then values AVB's current resource @ $11M or now $22M combined.

Obviously the deal also has benefits & contrarian could say that Xstrata see a very large upside in Antares so the move is more of a strategic muscle into Avanco's current holdings & 15% gives them a good base to launch an aquisition over time or a blocking stake if someone else tries to jump ahead.

On the other side if they see very little potential in their current holdings or are attempting to tighten cash & don't warrrant any further exploration there then they've done a super deal for mitigating their risk yet still remain open to any discovery there that they may of mistakenly written off.

Pretty open to everyone as to who got the better deal & it will only be known in time