Yes, it is still a long time till August 2013. While we travel through this period of uncertainty, we should not forget that Drake owns 20% and now has a senior director on the AVQ board. Also there will be news on the renegotiated contract with Solomon Copper in NQ coming out soon and we expect exploration updates on the other projects. 1.7c has been the support level for some time now and was not surprising that we dipped from 1.7c to 1.6c yesterday on low volumes when the ASX lost 2% on the same day. Currently on paper Drake has incurred a $2 million loss approx. I'm sure that this type of loss would have been considered and their director will be watching closely. For us uninformed small share holders, we cannot ask for a better representative for a speculative stock.
Interesting to note that some weeks ago, Drake grabbed 5% of AZS and haven't added to that position since. I would assume that Drake would have a limited "small" amount of funds for this end of town and they could be keeping some in reserve for AVQ (money to develop Isabel perhaps?). Conjecture maybe but they may be waiting to see how much cash AVQ gets from the new deal with Solomon Copper.
AVQ Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
