avl presentation

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    Just a quick few lines on yesterday's presentation by BT. Have tried to be as accurate as possible.
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    Bill Turner said nothing really new of course, but few comments suggest that things are dropping into place very nicely.

    * Expecting political risk insurance greenlight for Stage II from arm of world bank by end of June
    * Evaluation of Stage II should be in soon
    * Stage II to be fully debt funded by Rand on much more generous terms than for stage I (ie, LIBOR + 2.5% - NO toll per pound as with stage I)
    * AVL expect to make a decision regarding stage II in approximately 6 weeks (mmm, few others have been saying exact same thing)
    * Current drilling under resource expected to increase open cut from 120 metres to 140 metres.

    Overall, very satisfying presentation from a shareholders point of view. Future certainly looks very bright.

    Bill said he will be in Sydney and Melbourne over the next few days doing other presentations for brokers.



 
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