well well well, page-49

"Xstrata have downside alright..140,000,000 AVB shares and the lose of 200tons of JORC copper etc."

I don't see how 140 000 000 shares in another company can be classified as downside. With respect to the loss of 200 tons of JORC copper,I don't consider this as downside either...at most,it's mitigating risk by sacrificing potential upside If AVB do strike it rich, Xstrata would benefit by the increased value of their holding in AVB

"This is a long term relationship" You don't know this

"I think its a major vote of confidence that they put this amount of trust in AVB. Must like the management.Xstrata was happy to let AVB explore that on their behalf."

I don't believe this is a question of trust at all. They are letting AVB take all the risk and the costs, and ensuring that they share in the upside...Just a sound business deal that anyone with any commercial acument would endorse