The last we knew (June Activities + Cash Flow statement) AVB had $3.6m left in the kitty after having overshot their budget for that quarter by some $800k (they spent $1.8m in the Jun Qtr after estimating (just 3 months earlier) that they would only spend $1m. Who knows what they have as at end September!?
They need cash but in the eyes of some, this is just another one of my unsubstantiated statements, even though its all there in black and white in the ASX release.
As for whether they will raise cash, I don't think you need worry too much - I am pretty sure they will get it. They reaffirmed as much earlier in the week - its just a case of whether existing shareholders get diluted, and by how much.
On a lighter note, ateam, one last thing....remember you are allowed to be positive on AVB yet hold no stock...but you are NOT ALLOWED to be a non-holder who is negative on the stock...even despite the share still trading where it was back in January (8c) and despite them saying a year ago they would be digging dirt out of the ground by now. Sloppy, sloppy....
Coop
AVB Price at posting:
8.1¢ Sentiment: None Disclosure: Not Held
