Homebrand,BlackRock are in AVB for the royalties. They have...

Homebrand,

BlackRock are in AVB for the royalties. They have stated that their global focus has shifted towards royalty payments. I can't see any reason why they would sell their share holding when this position gives them a say in how AVB runs the business. The better AVB performs the more royalties BlackRock receives. BlackRock would be happy working with a small company like AVB as they would be able to apply more influence as opposed to working with a multi-national.

In fact, it will be intersesting to see how BlackRock protects their deal with AVB as we progress to Stage 2. It would not surprise me if they increase their stake to fend off challengers.

Glencore is the big unknown. They will most likely buy out AVB at some stage. How this pans out with BlackRock is too far away to contemplate.

As for our share price, I think Glencore and BlackRock would care little but like most they would be happier if our price was higher. Right now with a MC less than $100 million we are a juicy take over prospect for companies a lot smaller than Glencore and BlackRock.

Sure if our price is higher, Glencore and BlackRock would have to pay more if they want to take a bigger stake but for them it is still only "loose change".