The earlier announcements indicated $50 million for mine development. This package is for all costs including contingency, working cap etc as well. They are being thorough.
If they accept one of the royalty/smelter type deals they may be home with no dilution. All of this is just to move stage 1 along and facilitate stages 2,3 etc.
IMO, very good announcement. The most amusing component of the HC reaction is so many posters complain about; no news, slow communications, leaking ships, no sign of the money for mine etc. Well, we have just been delivered important news, early in the process but I bet not before they are comfortable that this is now a matter of technical completion rather than hope. They would not risk that at this stage in the process. Imagine how people would react. All the criticisms are answered, not that I ever thought there were grounds for most of them.
Management have pulled off a fantastic result for share holders and themselves over a 5 year period that effectively commenced at the start of the GFC. They won't be the only company to have done so but there will not be many who survived this period.
AVB Price at posting:
7.0¢ Sentiment: Buy Disclosure: Held
