Just a reminder to all that AVB only said finance could be seen potentially in October. From Reserve Announcement.
"With debt funds potentially available in October and construction work commencing in the fourth quarter management envisage commissioning of Stage 1 to be late second quarter, 2015."
Nice to have an update with emphasis on the below:
"Due-diligence by the banks on the Antas Reserves and Engineering is on-going. Avanco does not envisage any surprises or delays arising from due-diligence and is aiming to complete the debt funding programme during Qu4. The Company is financially strong and can draw on its cash reserves to initiate site works as soon as preliminary funding terms have been confirmed with the syndicate. "
On top of that the company has once again re-iterated that it is 50m preproduction, 10m working capital and 10m contingency.
AVB Price at posting:
8.9¢ Sentiment: Buy Disclosure: Held
