I was pretty tempted to put in a bid at 12.5c, but didn't end up pulling the trigger and it moved back up a pip. Plenty of volume has traded at that level in the past so I think this range will provide some decent support.
I think the problem with AVZ at the moment is that it's moved from the exciting exploration stage to the "reality setting in" stage. Normally mining stocks stay in that first exciting stage a little longer and would generally run up until a solid JORCed resource had been proven. But AVZ has completed this stage prematurely, simply due to the fact that the resource is so large that it's obvious the size or grade isn't going to be a problem.
No amount of extra drilling is going to really make a difference to peoples' opinion of the resource itself. It could lose or gain a few hundred million tonnes of resource and make little difference to whether or not the project will make it to production. So now all that's on investors' minds is the minefield of hurdles to contend with as it attempts to move to production.
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