Thank you all for the comments. I think the copper project still...

Thank you all for the comments. I think the copper project still has value and is highly leveraged to the copper price. Thus if I'm the management, I will spin off the Finland and Ecuador assets into a new listing vehicle, and distribute free shares on a pro rata basis to AVI's shareholders.

1) Everyone loves free stuff, including free stocks of a new company

2) Any new capital raised for exploring Finland and Ecuador will not further dilute shareholdings of AVI

3) Any capital raised for AVI will be continued working on the copper project, with the priority of proving and improving its economic value (higher NPV and IRR, lower payback and initial capex). All these steps are setting up for future sale of the asset and the whole company in the future (though it may take 2-3 years)

4) Selling the copper project now DOES NOT solve anything. Yeah, AVI has capital to explore Finland and Ecuador for now and postpone the raise, but I actually consider selling the copper project NOW is selling minority shareholders short. Selling the project at less than the amount invested destroys value.