Yep, I think you are very correct in surmising what has happened over the last 4 months...
“It is clear to me that when the TO failed to materialise prior to Xmas the company said OK then we drill this deposit out and go for a JORC and a decent SP on takeover. Trouble with that was by Xmas the wet season in the southern part of the DRC was in full swing..”
A good management team would have made contingencies for this development and had a firm plan to get drill rigs in and turning expeditiously. They should have flown the rigs in as had been touted by the company previously. Since no TO before Christmas they have been floundering around looking incompetent and scaring investors away. They need to do some serious work to right the listing ship, reestablish trust and stop spreading themselves thin over so many companies to the detriment of this one.
AVZ Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
