quality specs - the eight elephants, page-52

I was surprised that AIV didn't get more out of their near-ology with Ivanhoe (IVA) and Merlin or the Ravenswood gold potential that was stirred up by some stunning results from Resolute (RSG). The priority for the Bulonga EPM application is significant due to GBZ's results at Milo and it would appear that AIV are putting together a very handy tenement package.

The Lake Chandler Potash project just hasn't done it for them yet, and if anything it created some tension that lead to ultimately a lower share price when the initial findings were released.

I was fortunate that up until recently I was always contacted by Doug Young on his Perth visits and I could sense from our meetings that they are very serious on the growth front but have struggled due to market conditions and a lack of broker support. (Now rectified to some extent with Shaws and Scintilla).

The stock never really sparked any great interest amongst my clients so I ended up ceasing direct coverage last year. Around 6c with their near-ology, tenement growth, and management I would suggest they are a worthy second-line opportunity.



Cheers

Budfox