Hey Blue Turtle...If you open up a map of the Carajas...

Hey Blue Turtle...

If you open up a map of the Carajas Region...what you will discover is...AVB average grades of 1.5% Cu and .5 gram Au, are above average...being highly typical of IOCG magmatic intrusive or faulted hydrothermal structures found throughout the Carajas Region...

If AVB ends up with 100mt of global resources, translating into over 1 million ton of Cu equiv...This with TCO on production OPEX averaging a low US$1500 per tonne, Average price of Cu of US$8000, conversion rate at 95% and recovery at 95%, discount rate of SFR's 8%...IRR is a very healthy plus 90%...in-situ valuation is greater than 25 cents and post production NPV greater than $1...meaning for this style of deposit, DCF valuations for AVB's future production and hence mining in this region is profitable as long as that TCO can be managed efficiently...

Your comments may be confused with the high grade primary zone oxidized hydro-thermals at Antas South, dissimilar to the dyoritic/aporitic based sulphides at Pedro Branca...I agree with you that AVB can use cash from development of near surface mineralization at AN and AS to pay for further development at depth for mining at PB...which is exactly what TP has spoken about many times...but I don't agree with you that AVB will always be vulnerable to a take over by a cashed-up major player, assuming Xstrata will prevent that for obvious reasons...

I think Copperroad stated correctly of AVB's current predicament being the lack of strong decisive bigger players in the AUS: ASX...I also believe there are a couple of forced sellers currently holding the price down...then distorting the nominal SP..when they finish "mucking us around"..IMO prices will resume an upward trend...
Best regards to all ...dyor