I have reason to believe that farlap may have know about AVB (and is just too shy to say).
We can probably agree that AVB failed to live up to its potential and its shareholders expectations. Management were too timid and lacked the necessary skills. So they got played.
But at least when the good ship Avanco went down, many long term sailors managed to swim to a Cameroon shore. With our pockets filled with Brazilian doubloons.
My observation is that the CAY mgt team look like a very different lot from the hapless AVB team. They are business people rather than nerdy miners (apologies to all the nerdy miners). And they plan to make a few bucks.
The other difference is that, while the AVB resource was very good, Canyon’s is world class. Which means that instead of being taken out by a very good company (OZL) they’ll likely be taken out by a world class producer.
Final difference is that AVB had a variety of regulatory and plant construction obstacles to overcome. They would have gotten there, eventually, and I believe OZ Minerals still will. But CAY’s path to success is so much simpler: dig it up and scoop it onto a train.
Because the business plan looks like a winner I’ve bought a bunch of CAY stock. A bunch. My only concern is that we’ll get taken out too soon and I’ll have to pay 100% CGT on my windfall profits! #>§@#!
CAY Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held
