Here you go ossieblue - this article is pretty self explanatory...

Here you go ossieblue - this article is pretty self explanatory and should help to answer your query quickly & succinctly. Fyi it was an asset for equity swap with Xstrata.
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[Source: www.resourcesroadhouse.com.au]

Avanco dances samba with Xstrata
Monday, February 20, 2012

THE BOURSE WHISPERER: Avanco Resources has agreed terms with global heavyweight Xstrata Copper for a 100 per cent interest holding in the Pedra Branca project, located in Carajas Brazil.



Pedra Branca is located south of Avanco’s existing Rio Verde copper project, a location the company identified to offer potential synergies and economies for future mine developments.

Avanco has carried out due diligence, which it said had confirmed the Pedra Branca project to host a substantial copper-gold Mineral Resource.
On completion of the transaction with Xstrata, Avanco’s global Carajas Mineral Resource will double to:

32.54 million tonnes at 1.23 per cent copper and 0.37 grams per tonne gold for 401,000 tonnes of contained copper and 389,000 ounces of gold.

This figure includes a maiden JORC Mineral Resource for the Pedra Branca deposit of:

14.77 million tonnes at 1.30 per cent copper, 0.46g/t gold and 0.98g/t silver for 192,000 tonnes of contained copper, 218,000 ounces of gold and 465,000 ounces of silver.

Avanco claims potential exists to increase the size of Pedra Branca as it remains open in all directions.

The company said it intends commencing drilling at Pedra Branca immediately.

In consideration for the acquisition, Xstrata Copper will acquire a 15 per cent stake in Avanco and become the company’s largest shareholder and cornerstone investor.

Consideration for Pedra Branca, to Xstrata Copper, is an all script offer of 15 per cent of Avanco share capital as of the 1 May 2012.

This cashless nature of the transaction conserves Avanco’s funds, enabling it to continue with drilling and development studies at Rio Verde and Pedra Branca.

Avanco said entering a strategic relationship with the world’s fourth largest copper producer Xstrata Copper offers it a wealth of opportunities including access to Xstrata Copper’s technical and commercial expertise.


Ends.

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Also refer this ASX announcement dated 20th February, 2012:-

http://www.asx.com.au/asxpdf/20120220/pdf/424g3h223hvy2f.pdf