The Speculation Thread, page-82

Havent been on these forums because nothing ever seems to happen with AVB.

So the speculation is that sick of waiting for our "imminent" credit comittee approved finance facility from a consortium of Brazilian banks who also wanted to expand the relationship and get into the action on Stage 2, and which led our esteemed Board to start drilling in a u-turn on strategy, the company has now turned to Glencore to fund the mine through an offtake agreement?

Why the hell then have been waiting on our behinds waiting for Bank Valdermort to get its act together and not had extensive discussions LOCKED AWAY eons ago with Glencore?

Why would Glencore aka Mining Behemoth now all of a sudden have an interest in an offtake with a small miner in Brazil it could well have organised months and months ago and could actually be close to receiving actual copper right now?

Did our esteemed CEO wake up one recent day, have his porridge, have a bright idea and call Glencore for an offtake?

It doesnt make any sense at all.

If im allowed to speculate then my money is on Blackrock mining fund. They wanted a royalty deal rather than shares because they dont want their returns determined by companies as a simple shareholder and want a direct piece of the resource itself to maintain some control. Who can blame them. They are probably frustrated at the pace of developments (like we all bloody are) and are probably going to take a bigger royalty cut for funding us. That means dilution of the asset and probably a higher implied financing cost (pending final terms) and would represent a failure of the company's financing attempts. Then again could be a strategic move to get Bank Valdermort moving, or reduce the level of syndication needed.

If it means we mine sometime before 2020 then so be it, its the cost of getting to production.