..."Vale SA has invited the Company to discuss the “Option Agreement” and future exploration programmes pertaining to the Trindade North Project (TN). Current terms oblige a $1m payment to Avanco on Vale electing to pro-long the option for a 3rd year. Vale has the right to exercise the option to acquire 100% of TN by advancing Avanco a minimum total of US$10m (capped at $40m). Vale has not reported any new exploration this quarter. The Company continues to seek approval of the “Final Exploration Report” from the regulatory authorities".....
Cheers
AVB Price at posting:
6.7¢ Sentiment: Hold Disclosure: Held