I know that's what you thought I said Awoonga but it's not "what...

I know that's what you thought I said Awoonga but it's not "what I said". Go back and read what I did say.

Given you claim great delight in stirring I didn't feel the need to elaborate any further at the time. I stick with what I did say. Heavy equipment was already in action.

From yesterday's announcement; "In the interim site works over the pit, rock dump and haul roads will proceed under MACA’s direction using local contractors." Now read between the lines. What does that statement mean? Also, given your comment in the post above, "There is nothing new from what we heard in the Q2. In two months...". The implication is clear that this work has been going on for two months or more with the use of local contractor's heavy equipment.

   "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."

Re exploration. Nothing has changed. All we know is that they are telling us nothing of substance. It doesn't imply that nothing is going on. In fact, given TP's style of management/communication it implies the opposite? Perhaps they are saving exploration results for a time when they deem them of greater consequence? Think about what is said above and think also about what is NOT said.

"A Scoping Study will lead to a “Decision to Mine”17 before the 2015 year end, with the Pre-Feasibility Study (PFS) expected to be finished in the first quarter of 2016."
Read that slowly and carefully Awoonga. It is not saying the scoping study might lead to a decision to mine. It is saying that "A Scoping Study will lead to a “Decision to Mine” before the 2015 year end". As they stated at the AGM, (remember?) there is no doubt about mining but the study is essential to work out the strategy/details of how they mine the 3 times bigger, richer ore body of Pedra Branca.

Money in the bank:
They have managed to cover operational costs out of the pathetic interest they will be earning on their US$ bank account. What is not said is how much extra cash have they accumulated/saved due to the free fall of the Brazilian Real? Given they have previously stated that the majority of the construction expenditure would be denominated in Brazilian currency they should be sitting very comfortably. I will be very surprised if the US$7 million contingency fund is ever touched. I imagine it will go towards the ramp attack at PB in good time. That will help with the acceleration of build and production at stage 2. Don't forget that as they build that ramp they will hit the orebody, i.e. mining will commence on a small scale from PB at an earlier stage than most expect. That is why, in my spreadsheet, I attribute some modest production to PB.

There's more revealed in there Awoonga but I better leave you something to deduce as the assuming is leading you to speak (and I quote you)... " Bull@@@@!!!!!!!!!!"



I've added a few extra columns on the right with outlying values high and low for copper. It gives a graphic example of how well we can expect to do even with poor copper prices due to the first quartile costs nature of AVB's deposits.