AVQ are likely to get pinged by the ASX again. In todays announcement they spoke about "robust economics" for San Jorge which is hard to do when you don't have a resource or even a Scoping Study for the project. Some compliance guy in the ASX will probably pick up on that in a few days. They allude to being able to use the INCO data in their resource estimation for San Jorge which they will not be able to do. None of the INCO data is JORC compliant so it will not be able to be used in the resource estimation. A JORC Competent Person would not sign off on it. Therefore, their 2,500m of drilling will be all they can use to estimate the Mineral Resource. I suspect the resource will be released in November or December. AVQ will need to do another capital raising before the end of the year as this drilling will use up all their free cash. Commencing drilling is a good step forward though. The results are going to be interesting.
AVQ Price at posting:
22.5¢ Sentiment: Sell Disclosure: Not Held
