high risk high gain cashed up joint venture

this is an interesting stock

$19M in cash

just merged with a high cost canadian coking coal producer (around $120 a tonne costs) however coking coal is relatively high revenue earner

risk is cash drain if canadian producer cannot turn a profit

main interests of AVA are establishing two coal fired power stations in mid-WA and Botswana for South African supply

the AVA JV partners in these projects are major power generation companies thus cash will not be a problem for the other half

all depends of governments approving these projects I suppose

I do not know that much actually

any comments are appreciatated