HBAs you might recall 5 months ago I didn't use Au credits,...

HB
As you might recall 5 months ago I didn't use Au credits, since we didn't have a JORC resource, as we have now...so why leave it out now? IMO arbitarily assigning "2%" is the reason this type "rule of thumb" valuation produces variable results, not at all reflecting intrinsic valuations or NPV for AVB...then adhoc adding in cash in bank to this equation is not relevant being a deferred expense for future liabilities, totally unrelated to EV...De-risking AVB is only a matter of time when the remaining 20,000m infill, depth and strike extension drilling will convert inferred to measured...

IMO the fact that AVB is undervalued not dissimiliarly to other small cap explorers...This is as much due internal risk factors you mentioned...as it is due to macro externalities i.e. eurozone mess, china contacting growth, softer base metal prices, the "broncos" losing this season, etc..so if you want to include big risks ahead for the entire Mining Industry...be my guest, but lets not single out AVB of the small caps and shovel approbrium on it, before we get the remaining drilling, geo-phys analysis...etc completed...

Call it, as you will HB, so be it, but I tend to see the glass half full...as opposed to half empty...IMO pressure will build post April meeting with Xstrata in...we are long overdue for drilling ann's...TP told SWC that the Hong Kong Mining Convention recieved a great deal of interest for AVB over the last couple of days...so who knows the extent of the response there...IMO a re-rating IMO is strong possibility in the 2nd Qtr...