Running discussion on SP, page-1313

"What I guess we can agree with, since I think you are as conservative as me to what is going to happen with AVZ when compared to some other posters, is that the estimates by some on this forum of measured and indicated resources above say 500 mt ore requires a lot more drilling, and certainly won't be happening with this stage 1 program."

I do agree with that. And I like your systematic method of outlining how you get your results and making your assumptions clear.

But even your assumptions seem to accept that 20,000 metres of drilling will have occurred by end of June (if I am not mistaken) - you expect 60 holes by end of june (for the initial JORC) and that seems to me to be a fairly heroic assumption.

To be brief - I think the resource here is likely very large - I accept the research other posters have posted to that effect. I liked the research of mineralised and 8horse and Dr_Manhattan and others. I even see good looking research on ML's twitter now that I occasionally check it out (which I dare not not do).

But my concern is that the hyping frankly is larger than the resource. So I am in a quandary, I currently expect that, unless a lot of current, vocal retail shareholders abandon the stock, (which I don't believe they will do) there will be a series of disappointments arising from good results failing to meet unrealistically high retail shareholder expectations and I expect those good results will be coming in consistently later than management predicts that they will deliver them - because I think management is on a significant learning curve and it is showing.

I hope to be pleasantly surprised by management performance in future - but great performance by management (in terms of hitting their deadlines) now really will be a surprise. BTW - I would not mind if their deadlines weren't so unrealistically soon - I don't see the government in the DRC changing until end of year and so am in no particular hurry. Might make sense for actual mining to take place with a new government in place and more planning anyway. More time passing means more road building. Trying to lock in deals for offtake etc at this point may mean only those players willing to risk other chinese companies delivering will be interested.

To me the very best value would be obtained by AVZ drilling and JORCing the heck out of it. And I don't think ML is really needed to sell the resource once it is proved - though I have no problem with him being used to do that so long as he separates his analysts twittering from his strategic matchmaking.

Sorry for ranting.