quarterly summary

Well, as per usual AVB surprises with significant news in the quarterly update. My summary;

Licence almost completed for permanent mining.

Confirmation of power availability from state.

Confirmation of very supportive relationship with state authorities.(Ultra important)

Multiple financiers interested in the project with results expected within WEEKS . Weeks, not months.

Healthy current bank balance with the stated intent of nurturing that bank balance until financing is locked in. (You can stop worrying Poet)

First quartile production costs confirmed which means the price of copper can drop to the extent that 75% of the world's copper miners will go out of business and we will still be making a profit.

Further hits at PB resulting in a resource that will allow greater than 35,000 per year. I suspect they'll come back to further drilling there when they are closer to making mining decisions and they have free cash flow from stage 1. That could see the resulting stage 2 mine grow to 50,000 tonnes per year? JORC of 1 million tonnes equivalent contained appears likely in the next few months.

Sao Jorge providing evidence of commercially available copper. Stage 4?

Serraria looking like it could be stage 3 with strong historical hits of 16m and 38m at 1.18% copper from near surface. Would love to see what is coming out of the holes there. This is potentially another very low cost mine in the making.

TN, as forecast by the company at the 2012 AGM, may take longer to see a financial return. Looks like we may be using our recently appointed legal director's services to negotiate a successful outcome there. We have actually already made money out of it but I continue to expect a result in AVB's favour in time. Nickel back on the shelf for now.

Conclusion:
Stage 1 financing via debt imminent and seeking least dilutive options. Stage 2, 3 , 4 etc self funding and at lower end of cost curves. 2014 production target remains. Exploration continues to find exploitable copper even when they are going slow to conserve cash! Why would you be invested anywhere else?