conditions precedent, page-66

Hi Awoonga,

Seriously mate, honestly, I don't own them and I am not buying them. My views on AVB's ability to get this mine producing long term are well known. :) but I don't expect they are going to blow up anytime soon, or anything drastic like that. I keep posting here because the debate and discussion is interesting to me - as it probably is for most that are here. Its a robust exchange of views (the occassional petty taunts aside, that is! :) )

Like many of us, I have seen lots of great mining stories whither on the vine. I remember one I was caught up in myself years ago that turned pear shape pretty quickly after they started mining and all it did was underline - again - the great uncertainty of it all (this was years ago, and an unrelated company). Turns out - as is often the case - the actual reserve just didn't back up what the modelling said it would.

I certainly agree with you and others that AVB would be a lot higher if market sentiment wasn't so bearish but be that as it may - there are some speccies that are still rising in price despite this extreme pessism, but AVB isn't able (thus far) to attract much of those investment dollars (I mean share buyers/rising stock price here).

In the immediate term though, for what its worth, I would be pretty confident that AVB will get the deals done to get that $12m into the coffers. Money is tight for the junior sector, but I am reasonably confident AVB have a strong enough network they can call upon - and thus - access to funding to kick start the Brazilian loan agreement.

By the way, on the markets, it has been the big banks (until today's reversal) that have caused large part of that 10% correction. Banks shares started going nuts in late April - having already run strongly, and steadily since late last year - but after they went ex-dividend, the prices of WBC, NAB & ANZ have all collapsed. Same with WOW, TLS & WES. Mums & Dads chased those stocks for weeks because of the yields but once the RBA cut interest rates, the overseas selling hit us like a tidal wave. Everyone was locking in profits before the AUDUSD collapsed and - bingo -all those yield stocks have been crunched. BHP & RIO have been weak since late March but the correction of the last 3 weeks is because banks etc have been dumped. If we took out the 4 banks, the recent slump wouldn't be as bad.