Pedjudi,The iron situation effects the probability Vale will pay...

Pedjudi,

The iron situation effects the probability Vale will pay any money for the agreement it has with AVB.

Hence when pricing for worst case cash backing ATM of $12mil maybe $11mil as the company is a going concern (ie spending money on current business)

I read one other poster that dared to be bearish wrote on AVB a capital raising is likely - with no Vale payment by say June 30, 2013 ....only 1 year away...given cash burn required for all current ambitions.

No interest in this ATM for me until mkt cap close to cash backing...IMO DYOR

Regards

Hawkish