Yes, we need to start making real progress. There are many small steps being taken that need completion to ever get to mining and they all take time. And they are working their way through them.
Its the other things, the important progress steps that have stalled. Take Blesberg. How long can it take to get samples analysed? Does it ever take 4 months, and that's after the slowest drilling program in history. Wasn't a Jorc meant to be released in March?
1 battery sale then nothing in nearly 18 months.
Electrolyte plant built and samples tested. So are we now waiting until the PFS is finished before anything can change here?
And even the PFS is now sometime next year. The company was talking to metallurgical consultants in the last quarterly, yet they have only just employed them to undertake the process now. Why waste another 3 months.
The flow of real news has all but dried up and as such a one off fantastic announcement of a large resource increase has been seen as a chance for many to get out and look for greener pastures, knowing that they can get back in at some point in the future at the same price or lower and not tie their money up for so long.
Plus I still believe some of the new investors who got a share and option for .015 is having an effect here even though most may be happy to wait. When its a news free zone as it has been of late, another few million shares from the recent raisings added to the exodus of disgruntled holders will drag this down for a while yet, unless something amazing is announced.
Another cap on the price is looming as some holders sell at .015 or above to convert the unlisted .0147 options before the end of the year, rather than throw in new money.
Of course the lack of progress can be a chance to buy in for new investors who haven't had the long frustrating waits between any significant news and can see this with fresh eyes and enthusiasm.
I've held companies for long periods and sold out as nothing they promised ever seemed to happen, only to see the sp take off almost immediately after I've sold.
I'm taking a contrary position on AVL as I still believe their is plenty more upside than down over the next year, so have added another couple of million shares in the last few weeks. I've bought some AVLO as well @ .005 for a bit of leverage that I will sell if AVL starts going for a run.
AVL will have its day in the sun, the risk though is whether current shareholders get diluted out of it by then.
Many cheap options sitting there that will hold down the sp going forward, even though they will bring some cash in to AVL. Another 80m shares and $2m (aprox) in cash and expenditure to earn our 50.03% of Blesberg
Let's hope we get a steady flow of news once it starts, otherwise each announcement on its own will get swamped by sellers.
Things can change very quickly in the fortunes of a company, in both directions. I hold quite a few WPG and thought they were going ok with their Challenger gold mine. The shares
have recently sat around .036 - .04 so I added to my holding as it was well under the sophs buy in at .048 in June. After the annual report came out it dropped to as low as .018
Management seems solid and hold plenty of shares so I have added more during this recent carnage. Its the same at AVL. Time will tell if it pays off with either company. I'm backing the jockeys as much as the horses in both companies now.
AVL Price at posting:
1.5¢ Sentiment: None Disclosure: Held
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