What AVQ have found is not a new "discovery" as they claim on the front page of their announcement. If you read the details in the JORC Table 1 attached to the announcement, it says that they went in and sampled some of pits and trenches from the work which INCO did. I think the INCO work was done back in the 1970's. AVQ have sampled an area of erosion from where INCO excavated trenches to sample the laterite. It is not a new discovery at all. The details in the JORC Table 1 are as odds with the claims AVQ make on the first page of their announcement. Plus this area was drilled by INCO, so AVQ would have all the drill results from around this "discovery" plus all the pits which we dug in the area as well. I guess they can not release those old INCO drill and pits results as they would not be JORC compliant. However, what would be good would be for AVQ to show the estimated location of all the historical INCO holes and pits on their maps so people can see what areas have previously been drilled by INCO and how those areas relate to this "discovery". As usual RM is just hyping the project to try and get a bounce in the SP to save his capital raising. However, this time it just looks desperate and the details in the JORC Table 1 give it away. That is the god thing about having to include the JORC Table 1 with the announcement. You have to dig into the detail a bit but its all there.
AVQ Price at posting:
12.0¢ Sentiment: Hold Disclosure: Not Held
