I reckon the risk has increased. No jorc, no feasibility study and they claim they will start mining in a few months. q1 '19 is just around the corner. What a joke. Good luck boys. If they start mining without jorc and feasibility study then going bankrupt is a real possibility. They have $0 cash. Who is gonna fund this mining project without any feasibility study? RM himself? Like building a house and constructing the roof first without any foundation.
Imagine RM walking into ANZ bank and asking for a project loan while he has no independent studies to back up any claims such as capex/opex/average grade/proven and probable. They'd kick him out within 5 minutes. Financiers have no idea if this is viable, customers have no idea what they are getting.
Either there will be huge dilution soon at a discount and they will start mining without any proper groundwork or they will never start mining. Either way it's a losing proposition for people buying now.
They claim they are upgrading camp and such. In what way? No detail in any of their announcements. Yesterday's announcement was a one pager which could have been written by a person who never heard of AVQ. I reckon that's just the way they like it. Wool over shareholder eyes. If they actually give details then people can start to question.
They got no cash to upgrade anything anyway.
Huge gap on the charts down to 9.7 cents.
AVQ Price at posting:
13.0¢ Sentiment: Sell Disclosure: Not Held
