getting the $12m is the key, page-2

Agent Cooper,

Under some circumstances all you suggest above is possible. However, you have fallen into the same trap that I see many who "think to hard" on HC do. You've effectively ignored the content of the companies communication. It really is simple and the agreement for $58 million makes it even more simple.

"Avanco is pursuing funding for the minimum US$12m loan equity component by targeting transactions where Stage I will be fully financed with limited dilution to shareholders. Several Term Sheets inclusive of Metal and Royalty Streaming options are being examined."

AVB's communication style is sometimes a little conservative but if you go back and read historical releases you will find that they actually delineate their strategy and execute effectively. AVB is run by a group of very well experienced miners. That experience has already held shareholders in good stead with an excellent exploration campaign, the winning of the Xtrata tenements in a competitive situation and now the process of securing finance is rolling towards a close. They will soon be doing what they do best of all, producing cash flow.

Cash flow:

12,000 tonnes equivalent at $3.21 a pound and 84c C1 costs for the first 3 years, by which time stage 2 will likely be running and quadruple the cash flow.

12,000x2240x(3.21-0.84)= US$63,705,600 free cash flow or US5.7c per share.

Yes, there are costs to come out.
Yes, the price of copper could fluctuate up or down.
Yes, we could quadruple that production to 50,000 tonnes inside 3 years.

Ultimately, it all comes down to execution risk now and I believe that is where AVB will actually do its best work...it's already being demonstrated.