pedra branca update

One Opinion....

Like many people, the result from 12-25 was not what I wanted to hear. But hey that's exploration. Wanting isn't getting.

I had the impression from the AGM-reports that 12-25 was not that dissimilar to 12-24... but as it was an impression only, I must have misunderstood. So a disappointment, yes... but perhaps by going further north they will reconnect with the wandering ore body. No timetable for when they are going north here, just a vague reference to doing it.

Also the actual assay at 116m 0.83%Cu is down on what I had hoped for... I was wanting 1.1.% - 1.2% perhaps.... but still it is a long intersection.

12-26 is way over on the Eastern PB zone and is shooting under the 50m @1.3%Cu and 27m @ 1.4%.

Comment on finances says enough cash to drill for "up to" four rigs during the entire 2013. Up to means zero to four rigs at any one time. So in effect thay are saying if cash runs short they trim the rigs back to one, and can drill for ages at that rate. :)) So the statement about 2013 drilling being funded is one of those sound-good statements, but when you look at it closely is has little positive meaning.

2013(?) has a 5,000m PB and 5,000m Westerlies program. Conceicao is omitted, so looks like it is best forgotten about. No big deal. Footnote(7) says $10m. cash AT END of Sept quarter. We are Now nearly another quarter past that. So maybe $8.0m right now.... and getting less daily. A 10,000m (in a year?) drill program from $8.0m seems very tight, especially when two new guys are coming on board at some expense, and generally expenses can be expected to rise if prelim work for writing specs for and designing a real mine does in fact go ahead..

"These (drill) programs will roll out through the end 2012 and the first/second quarters of 2013".

Hardly a Let's-rip-into-it-type of dynamic approach. Perhaps the Westerlies are awaiting soil sampling results to direct the drill plan?? Perhaps not.

They have not published a current program that sets out at least at PB where they are planning to drill and when, (which naturally can be constantly varied) to present to shareholders... and talk hype about connecting the orebody at PB, the 1,000,000t Cu "target", finding the next PB etc... all good heady stuff for the crowd's digestion.... but where is the detail?

Where are they drilling right now I would like to know. All I see is hole 12-26... so much for up to four rigs. I thought they had three rigs on-site? maybe not.

Christmas period is sparse on drilling. Things do shut down. Weather will unavoidably slow drilling down now.
I am reminded that the JORC has gone up tenfold in a year. The share price is basically unchanged. What?

I am still a strong advocate/fan of AVB, beacause of its longer term outlook etc. Longer term. That does not change overnight... but I have searched this announcement for something to even open a can of beer for (maybe encouraging scout drilling at PB is worth a VB), much less the champagne... and find nothing of substance.

I am not here to talk up AVB. Like everyone I enjoy anticipating things (like 12-25).

All that I see of any excitement is NOT drill results... but the good old Vale Deal which is a company changer. Heaven knows when that will be finalised.

.. and the smelter deal, which is kinda anticipated and as long as the family silver is not sold off in the process it will be a positive for AVB, even if Anticipated.

So I have no idea where AVB is drilling or even if it is. Not even a mud-map program. I have reservations about its cash position which certainly cannot support a Dynamic aggressive drill program employing four enthusiastic drill rigs. Forget it.

So as for being company which you can make your fortune in overnight... a quick in/out.... I cannot see it. Patience and Faith.

.... that is just one person's Impression. To make money I believe you have to try and see and call it as it IS, have credibility and understand what is happening. IF my assessment is factually wrong then fair to argue, but if not then from the Truth springs WEALTH.... and it is the truth, free of wishful thinking that clears the way for profitable discussion. :) IMO.