no rerate on this announement, page-13

Thanks MMM,
but comparing PNA to AVB seems to be a long term view, whereas this particular thread relates to the short-term. PNA is a miner, and AVB is still only exploring/establishing its resource: ie AVB is still to release its initial JORC.
The EPS and market calculations you refer will be pure speculation up until AVB is actually mining. And until then (most likely post 2012 IMO), isn't raising through dilution far more likely?