AVB 0.00% 16.5¢ avanco resources limited

This is big news folks. I am not sure all of us fully appreciate...

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    This is big news folks. I am not sure all of us fully appreciate what this means.

    For me personally, after finance, management/governance has always been the biggest risk facing me as an Avanco owner. I have posted recently on the VOR forum about how mining juniors, particularly 'penny dreadfuls', are vulnerable to being manipulated, stripped and exploited by unscrupulous managers. It happens about 100 times more often than you read about it - and we read about it quite a lot these days.

    I think it was Evy Hambro, while on a visit to Australia earlier this year, who said that the great majority of the asx listed small cap miners were worth nothing and will likely go broke, while the remainder are significantly undervalued. And when I read 'go broke', I understand that to mean the share-holders, not/not the board members.

    So, every morning for the last couple of weeks I have woken to check to see if the much anticipated board reshuffle had been anounced. I wasnt checking for the mining licence. I am of course waiting for the mining licence, but I am not sweating on it. This board play however, evoked just a bit of sweat - it could have all gone badly wrong. But it didnt. They did what was necessary and did it in an efficient and professional manner. In so doing they have not just saved AVB a good chunk of free cash; they have also derisked the whole investment from the small share-holders point of view, given institutional investors greater confidence to plunge further in (once the FML trigger is pulled), and (importantly) removed a potential negative in the minds of business journos, who know who-is-who in the zoo. So its not just about todays SP, it is about the whole enchilada!

    Now, I can say publicly to Agent Cooper:
    "You were right (but on one point only); now come home, all it forgiven!".

    cheetah

    p.s. piast, you are not forgiven - go stand in the corner.
 
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