You'd almost think that AVB were running to schedule. Which they're not. We've had schedule delays from the AGMs in 2012 and 2013. Full regulatory approval was expected by end 2012. The world cup did not last the entire time. The finance deal has been in limbo for 18 months and you can think what you like, I think that's an embarrassment.
There was a great line from the 2010 AGM presentation: "The Vale deal demonstrates ability to do business in the region". How true that was.
There are a number of conclusions we might draw from this. At least one of the following is true. (a) AVB are clueless when it comes to proposing reasonable timelines. (b) Brazil is a lousy place to do business, hampered by painfully slow beaureacracy.
Can you see why some of us might be concerned that getting utilities up mightn't be as easy as it sounds?
I think Awoonga dug up a really useful piece of info: that getting power to site would take 3 months and would only happen after financing.
The rest of you can talk your book as much as you like. And if you want to believe management are geniuses then good for you. If the mine were operating by now I'd agree with you.
AVB Price at posting:
8.3¢ Sentiment: None Disclosure: Held
