Thanks to kingkev http://hotcopper.com.au/posts/14130311/single...

Thanks to kingkev
http://hotcopper.com.au/posts/14130311/single
I enjoyed watching this, I know a fair bit on copper but I found this most informative. If anyone wants to know a little more about copper and how it forms and is exploited, I highly recommend this. If you do want to see something more tangible and directly related to AVB make a note of the grades talked about in the video and then have a look through the AVB grades and quantity that have been found in only a very short time.
With so little cash that they have had to worry about the running costs on even tiny rig numbers and almost no room to move at all, must have been many fingers crossed when I look back at the numbers over the last 4/5 years, yet on and on they progressed and when some cash appeared they grabbed it with both hands because they know all too well it is the lack of cash that kills in this business NOT dilution, which is a load or crap anyway, you must have investment cash to build a miner.

The truth is, you were looking at a far too condensed (underfunded company) register, which could only go for debt or equity to seriously move forward. AVB had to increase one or the other to have a sensible structure to become a miner, it would be plain stupid IMO to see a CR in the situation AVB were in as anything but a very big plus, and should the syndicated debt seal the package they would have done splendidly on both debt and equity funding.

I contend they could not have done what has/is being done with only that $23m CR, even with Blackrock's stump up unless you want to struggle away year after year inching towards being a miner, crunch the numbers, this is potentially a spectacular earner which makes both the debt and the equity look positively puny on successful mining, yes yes I know we have risk to worry about, please anyone wanting to point that out again, just hold it for sec will ya, we are all in the markets we know it already.

When the SP is handsome every man and his dog will be saying these guys are special, I say they already have been. Now with cash, a vastly experienced management team, potential projects in every direction, imagine what is possible on the tenements they own without going cap in hand to the pitiful collection of characters who would swoop to offer multiple hooks on a distressed miner should they have been cornered. I do think they were in a very tricky situation on a couple of occasions, just my take. But do go and look around in the industry in this space where money has run short and you see the teeth of utterly ruthless lenders, we did not have to go there. And I do not think enough credit has been given, hence my little Friday rant.

Lets see how long I have to wait for further drilling details and the full $58M of debt funding, not long I say.
Now this should give our contrarians something to whinge about.

As always DYOR!!!