I don't find it entertaining, AVB holders have a right to be dissatisfied with how it ended up, I know it’s just how it goes sometimes. But (no one in particular) please let’s leave the taunts out, and that's all they are. I think in all honesty it was all more in the hands of the AVB directors than anyone else.
The senior AVB directors had lost faith in their ability to bring the projects online, they had lost faith in their ability to raise the SP. If anything, the Pantera announcement (Jan18) was the final nail in that coffin, if they could not push clear of the options number on that sort of news, they were in trouble. For all the drum beating on Centro Gold it was now looking to take longer and costs were being spent and the capex was added up with the rest, that was worrying them. With funding the value of AVB was perhaps double or even treble of where it was, money was the issue and none on the register were in a mind to help on that. Oddly and many may find it so, the exception being an odd friend in that area, Blackrock, who would have thought eh, and no not going there, I will put an IMO in. When the business was sold to PE for a cash lifeline last time, it was sold by the directors without ever really acknowledging it, these are passive, good hands-off friends we have funding us. That was in fact rubbish and it did not take too long to find out their true colours. I have said AVB holders dodged a bullet and I believe that to be true. Does that mean someone with the cash gets a super bargain, yes it does and OZL can walk away with a win, but please let’s show a little class. Not going into anything else, it’s over and done-with, OZL were in the right place at the right time, they have an entrepreneurial head in AC who browbeat the OZL board to spend what some there saw as too much. Most know this was taken for a song and that is all fine too, it could have gotten ugly, but it was all set-in train in 2013 with the London deal and could have ended much worse. AVB are no longer an entity, it is all over now. Cheers Phil.
OZL Price at posting:
$9.36 Sentiment: Buy Disclosure: Held