Just wanted to post here that a mate of mine who is a legend of the professional investing community and an absolute top bloke, and who has supported AVL for a very long time including for years when it was YRR, and who introduced me to the stock, has finally given up on AVL and sold. He has made some outstanding investments over the years as a professional investor and had rationally invested in YRR and then AVL based on the resource in the ground - what was a reasonable decision.
I know he reads this forum so I just wanted to shout out to him to say thanks for being a long term supporter of AVL and trying to adhere to the spirit of holding and supporting a company, and not complaining.
For me I thought a few things to point out: -very sad day as this person's dream in YRR/AVL was not realised despite holding for probably ten years or more. I feel really sad that he's done the right thing and chosen a good asset and prepared to hold and support capital raises, and this has not worked. -This is an absolute legend of a person who has worked hard all his life and raised a great family, and a return on this investment would have been the icing on the cake. -time to highlight that all of this with AVL is taking way too long and this is now well beyond the horizon of what a rational investor could conceive as a fair amount of time to hold a stock -AVL is failing to deliver a world class asset in a country that is probably the easiest place in the world to develop a resource. I know other companies that streaked ahead on mining development in countries where workers needed armed escort just to get to the mine and there was constant threat of armed conflict or natural disaster. -AVL is not delivering on the investment proposition that many hard-working Australians would believe to be possible. Invest in a mining company with a world class resource and get a good return over ten years
Come on Vincent and team
That is all, and thanks for your understanding. I'm personally down to my last 1/3 of holding in AVL having sold some shares in the low-mid 3c which I will do again,
Best wishes HB
AVL Price at posting:
2.1¢ Sentiment: Hold Disclosure: Held
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