quarterly summary, page-5

Kingkev

I think you are way to pessimistic. There is a language to reports, they often telegraph what is imminent but which can't be directly stated just yet. The language of this report is of significance in my opinion. From finance to regulatory relationships to growing assets.

"...a select group of South American and international banks are evaluating the project with a view of providing credit-approved term sheets in coming weeks."

I read that statement as saying, we are very close, the banks are interested in doing business and we will get a result within a very short time frame. That is in addition to the indicative term sheets they have from other finance options. This is a very sound mining proposal. It stacks up incredibly well on all levels and most importantly as a long term investment. I have no idea how the market will treat it on a daily basis but it should be a VERY reassuring report for the people that want to be holding when we start production at stages 1, 2, 3 etc. AVB have an ever increasing amount of copper and the "process" is unfolding as it should.

To have the powers that be on board is a very important asset. It makes sure that when inevitable speed bumps occur they send in the state bulldozer to get rid of them.

AVB have pulled the dream team back together at this point in history for a reason...Wayne Phillips resigned as mining services head at Kinross to resume his board position and take care of mine building, regulatory etc. Luis Azevedo is already earning his way with regulatory relationships, legal prowess etc. Things are obviously progressing towards their expected conclusion.

Building a company and building mines are all "processes". It's not like a 100 metres dash where there is a defined ribbon to cross. The process is on going. However, if I was to attempt to ascribe a ribbon it would be getting stage 1 finance in place with a healthy bank balance still in place. It is apparent that the company believes this is only a few weeks away AND that they are being very cautious with the spending until it is locked in.

Well done AVB.