dhc, The infill drilling of Pedra Branca had nothing to do with finance of Antas North.They are simply expediting Stage 2 mine PB.
They were never wanting to spend money on infill drilling PB until they were confident they had finance for AN.So far except for the poor expediency in nailing finance it looks like going to plan.
Having said that there is a possibility that the banks now want to bed some terms to be involved in financing the much bigger PB mine.I would think AVB would not want to complicate things waiting to infill drill PB if the banks want to see more flesh of the carrot but you never know.
My only guess for this to happen is if there was a carrot for both parties.Although it should be 2 separate deals maybe they said if you prove the goods at PB and let us in we will do some sharp terms to fund both.
The quarterly did mention that finance for PB had started or something to that effect so we know that as fact.Whether it is linked to drilling PB is another thing but I cannot see them entertaining that type of delay for something we need to get moving now.
For what seems an eternity we should find out this quarter or we damn well better.
AVB Price at posting:
6.9¢ Sentiment: Buy Disclosure: Held
