Ajostu,
You said, "...However I am worried that the PB east extension may have turned out to be a fizzer. This seemed so exciting at the AGM but they haven't built on that momentum at all. Hope I'm wrong and PB-E grows...."
I wouldn't worry too much. The ore is still there in the ground and they'll drill to find out how much there is when they are ready. I'd personally put the focus more on what could have convinced them to not drill yet? My hint would be to focus upon the very brief commentary in their official reports to the market. They typically say next to nothing yet manage to cover their buts in terms of "technically" having informed the market. So, when they say the following, what are they not saying.
"Following the recently defined high grade upside along strike at Pedra Branca East, a step-out drilling programme has been planned and re-scheduled to commence after the completion of the Stage 2 studies. Management have been examining several new opportunities with a small number worthy of closer evaluation. Avanco is currently pursuing an option over a potentially interesting Base-Precious metals project outside of Para State. Limited scout drilling is underway with observations to date not conclusive" and that they have negotiated earn-ins on new tenements in the Carajas region. I'd suggest that there is no accident that these sentences follow each other ...
They have made it very clear that they are ahead of schedule and under budget. It's only the "sky is falling in" crowd who put conjecture around those points. The mystery is more what are they doing that we are not yet hearing about? What opportunity was sufficiently interesting to induce them to hold off that extension drilling for six months? When will we hear about it?
I have absolutely no doubt that AVB management will continue to find more copper with their focus on the importance of economics that allow share holders to prosper through the cycle. I also have no doubt that there will be another copper bubble after the current episode of low prices. For me the unknown is the timing of the next bubble in the copper price not the inevitability of it occurring.
Read the half yearly again and read the Hartleys report...they were on the ground a few weeks back. I've spoked with some of the analysts who were on that site visit and IMO they were seriously impressed and excited for the future of AVB. The upcoming LME week event may see some additional news filter through...at the very least a new video ?
and check the weather report
No rain equals time and dollars saved...
http://www.weather.com/weather/tenday/l/BRXX2868:1:BR
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