Running discussion on SP, page-5066

For the record, my view has always been that SH value will be maximised here if AVZ took this to mining themselves and had the development scaled appropriately so that it can utilise the tin/tantulum credits in the tailings (or at least have dedicated pits for producing tin/tantulum and even niobium), as well as develop some form of rail option.

However, the market, rightly or wrongly has priced AVZ as a TO target largely in part to the messages from management (whether read correctly or incorrectly by the market). If you asked punters out there most I think would say the AVZ messages have been more around TO as against mine development IMO for the majority of last year. The only positive I did take from the April 2018 video was that AVZ might be changing its mind set to if price not right we will take it to mining ourselves, which is my preference btw (mine it and let SH be happy - i.e. those in here for the long haul, short termers will not be sohappy). As I said, very difficult to gauge what management is thinking but certainly my view for the period to December 2017 at least was that management didn't really want to take this to mining themselves, and that might also explain in my own mind why drilling was so delayed after the first 7 drills in 2017. Mindset appears to be changing so lets see what their plans are now.

In any event, if TO still remains their preference they still need to understand market dynamics and what scale and size AVZ can enter the market to extract the best TO price available. I would prefer they were not taken over but that is just my view. IMO IMO IMO

All IMO