Definately in the the same camp as Kalenn with the BULLISH...

Definately in the the same camp as Kalenn with the BULLISH sentiment from MW and SM.
As soon as I walked in - I got a good vibe at my first AGM For Avanco.

Seeing MW and SM for the first time and also SF and DM there. Although it seemed SF and DM didn't say much.

Questions were asked throughout the AGM which was good. Simon was given the honour of running through the operations presentation as MW mentioned TOny was in important talks in Brazil at the current time. No mention what.
It was also said - that MW had just got back from Brazil after being there on a Roadshow with 10 others - ranging from people from Australia,London and Canada.

HIGH calibre manangement - is currently being hired. One is to look after Antas North and production.. Within weeks

POSITIVE vibe from both MW and SM in my books - and a very confident SM on the current drilling at Pedra Branca.
The widest intersection on Pedra Branca 606300mE page on the presentation -- brought a continuous smile to his face. Stating in his 20 years in his profession - this is something he hasn't seen before and is amazed at it being open at dept still.

They both confirmed that AVB is going places - they have excellent people on the team both in Perth / Brazil. With combined experience of close to 150 years in the industry.

Re- Stage 1 development slide - they did say that Full Regulatory approval granted by end of 2013 - not 2012 as stated..

SM did mention that teams ( auger )are on the ground currently at PB and commencing ground prelim work on the licenses that are awaiting approval - looking good ( SM muttered some words - positive on what they are seeing already )

MW did talk about there is no talk on the board of share consiladation or even RIGHT's issue - after a shareholder asked the question about it.

Pedra Branca and the new infrastructure around - SM was very chirpy with this .. Saying the new highway and new airport would make PB easily accessible. 10 mins drive from airport. Very happy with this .

SM also mentioned the LAB issue which was mentioned previously. and quoted as saying they are using VALES old Labatory service as VALE have there own at SOSSEGO mine in which they are using. I think the name of the lab was INTETEK. They are happy with AVB being on board.

Sorry - I did forget - that MW did mentioned that the 10m currently in the bank is for SM and drilling programs. The proposed 50mil required to get Antas North up and running will be through debt funding / or off-take partner .

MW - did let mention ( although softly ) that while he was in Brazil - that he was in talks with a SMELTER- that was all that he said though ... and discussions with OFF - TAKE deals are ongoing..
That's about it for the first update and feedback . Will check through my notes again and add more later. any questions please ask away .. will try and help.

Hope that helps - sorry about any typos I was madly typing away while having some lunch. 1pm here in the WEST.