Avanco Resources: First Production on Track for Q1 2016 — ‘and Debt Free’, page-3

The other detail I was very interested in and which will become clearer with the next quarterly was how much money left in the bank?

I note the balance of Blackrock's royalty stream payment is yet to come and they sit with A$43,446,000. Of course more has been spent in January and some items may be on-site but yet to be paid for. However, looking very healthy and the number at the end of the March quarter will be telling. How much will they have tucked away to move forward with the box cut, exploration drilling around AN to lift reserves and allow the usage of "capacity" to get them up to 18,000 tonnes etc.

When I read the Copper investing News PR piece in conjunction with the quarterly it becomes obvious that even if some level of the 'decision to mine' has yet to be announced, there is no doubt they are well forward with planning working on implementation. This fits with their comments at last years AGM that we should be in no doubt about the fact PB will be mined


"TP: At Pedra Branca we’re drilling the upper part of the eastern orebody, mainly to determine more precisely the best position for a box cut and the start of the portal for the ramp. Also, the underground engineering design is continuing and we’re establishing more infrastructure on the surface in terms of offices and communications.
Pedra Branca is another high-grade copper project within the same district as Antas. Current thinking includes starting small in the higher-grade eastern orebody, then looking to expand (if and when) to 35,000 tonnes per year of copper production plus gold credits. I can’t exactly say when we expect to start work on site, but any early construction will very likely be funded from cashflow out of Antas — we like our “no debt” status!"