where to now?

Where to now?
No one really knows but we can make some prognosis.

There is a short (hopefully) term drop in share price as predicted.
Some perhaps coming to grips with the disappointment with overburden problems continuing till April.
This overburen problem was the first concern I have with management process.
The surprise factor in past quarterly report and now the surprise factor of delay in removal.
However management has enabled share price to remain higher while fund raising was an issue.
The delay also seems strangely lengthy when cause was attributed soley to insolvent contractor.
One could well have the impression that management are taking the opportunity to remodel the open cut operation so as infrastructure and access will be in place for underground mining.
This would help to explain much of the past occurrences.

Price may also be under minor pressure by sellers taking profits with the idea that there will not be increased profits announcements with Dik in the first six months of 05 and the "tailing mine" will not be profitable till 06.

The unsettling? period of Congo election might also have an unsettling effect on AVM share price.
A likely time to add to holdings.

There are likely stimus factores which could strengthen share price too.

A re-evaluation by institution/brokers is likely based on knowledge of ore basis for the new mine, the likelihood that the new mine will be on the way soon and the eventual increase in profits from Dik once overburden has been removed and second ball mill in place.
And ----- eventually? --- ore upgrade from deeper drilling at Dik.

Proving the commercial viability of ore bodies and prospects now being drilled will not harm AVM share price either.

The sobering point is that so far institutions are looking short term.
They are more interested in actual profits than possible rich resources to be mined in following years.

So expect more of the past.
Periods of weakness balanced by new highs as institutions take the position that AVM is a great investment.
Long term.
Compared to other ---.

Cheers,

NT