The TRUTH is that with all the positive news.... Update, Presentation, JORC upgrade, and now the Stage 1 assessment the SP remains stubbornly unchanged. It was 7.7c on the 21st Feb.. before all this preliminary news "barage", and that is what it is right now.
Sad perhaps... but it is the TRUTH.
Yes, it is certainly what one could expect prior to a capital raising... but that is not a bogey necessarily. As long as your SP does not change, where is the loss?? You would have shares in a stronger company. One that has money to do things.
But one has to discriminate between Fact and Speculation.
A capital raising as per an offer to shareholders, not a placement, is Always on the cards. It is the mathemetical probability of it, and that is pure opinion. To which we are all entitled.
In the end you simply do not have to take it up. I would be disappointed if it offered free Options, BOB's again, and missed them. I loved those AVBOB's!
I am ONLY talking exploration and company running costs here. Money to keep AVB drilling and paying great guys like TP, (yes even Scotty and Mac too), their wages. Mine funding of $50m or whatever will happen... from one of several possible sources. To me it is secondary. Important? of course. Even if it is delayed (as long as we snare the second-hand mining plant) what does it really matter???
I have reshifted focus back on the Vale Deal and the possibilities and flexibilities it offers!! At present it is my first choice for operating funds, not a CR.
It offers what I think is $35 - $40m.... and nothing less. Cash. This can come in a lump or it can potentially come in as I have proposed, some form of an initial pre-payment stream.... courtesy of the good offices of Vale. It was deliberately omitted from the Investor Presentation.
So for me, for now it is the Vale cash as a first source of working/drilling capital ... second is a CR!!!!
As mjp2 says.... money is running out rapidly.
In fact who is to say with certainty that Vale and AVB have not already agreed on a Price for TN?
Certainly I have to agree 500% with PGFin though...
"We as shareholders have little knowledge of the details around the option agreement with Vale".
Like everyone I hope the SP rises more to reflect all the good news. It deserves to.
AVB Price at posting:
7.7¢ Sentiment: LT Buy Disclosure: Held
