Ann: Half Year Interim Consolidated Financial Report 30 June 2015, page-31

Hi All,
Loving the exploration potential of AVB especially the "option agreement" by the DPM where Avanco can evaluate a number of area's with "rights" to select for acquisition. A very unique position to be in. All within existing prospecting licences in Carajas with some outside.
Great Pro Government endorsement for AVB's mining operations and implementation. Well done management.

REGIONAL EXPLORATION
"Several high value exploration licenses within the vicinity of Pedra Branca have been granted by the DNPM8 . Exploration personnel have been mobilised to the field advancing these targets using Avanco’s powered auger drill rigs An option agreement has also been recently executed, through which Avanco will evaluate a number of areas with “rights” to select for acquisition and further investigation via an earn-in structure. The agreement allows the Company to increase its land position within prospective licenses situated along preferred geological trends in the Carajas. Following the recently defined high grade upside along strike at Pedra Branca East, a step-out drilling programme has been planned and re-scheduled to commence after the completion of the Stage 2 studies. Management have been examining several new opportunities with a small number worthy of closer evaluation. Avanco is currently pursuing an option over a potentially interesting Base-Precious metals project outside of Para State. Limited scout drilling is underway with observations to date not conclusive."