Management were relying on Huayou to exercise their options to...

Management were relying on Huayou to exercise their options to get them through the rest of the drilling program. Unfortunately, Huayou is not willing to spend a single dollar more on AVZ until they are certain of the resource size. 8 drill holes just doesn't cut it for them.

3.2% to be held by the Americans does not scream 'Strategic Partner' to me. They saw an opportunity to make a quick profit and ceased it. They have zero interest in the deposit.

Drilling costs money and it's money we don't have so I guess this is the last resort for management. The chinese are not prepared to fork out any more at this stage. Let's just hope that $15 m is enough to cover the drill program, no more CRs, no more performance rights to mates, no more dilution.

AVZ cashed up and ready to produce some results that will drive the price up.