5c, page-39

"My perception is that BlackRock are going to "assist" AVB to make it happen."

All comments here are fair game. Playing the ball not the player so to speak.

I could not disagree with this more.

BlackRock are firmly in control. No question. Glencore basically controls AVB and in turn BlackRock has a fat stake in both Glencore and AVB.

I'm just using inductive reasoning here. BlackRock maybe setting up a royalty income stream ostensibly, but in reality, they could quite easily also be "landbanking" AVB and it, in its current form may never mine one gram of copper.

I'm sorry if this upsets people or investors who may have their heads in the stratosphere in terms of the future share value but to me this isn't bad news.

Think about what is more likely.

1. AVB actually mining and becoming a mid tier player in its own right.

or

2: AVB getting taken out of play via a takeover once they complete their mine.

My view is point number 2.
I see this as good news. Either one would be. But obviously the payoff on a takeover is far less than the present value of the future cash flows of mining copper for X number of years.