# AVB - Avanco Resources



## imajica (12 November 2009)

just thought I'd start a thread for this promising explorer in Brazil. Located near Mirabela Nickel, Avanaco has already announced a JORC copper resource of : 210,000t at 11.65% Copper -impressive grades

market cap around 15 million fully diluted.


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## imajica (16 November 2009)

TOURO NICKEL PROJECT

The first diamond core drill hole has been completed to a total depth of 430.1 metres at the Touro Nickel Project on the Trindade South Property in the Carajas Mineral Province in northern Brazil. The drill hole intersected a variably sulphide mineralised differentiated mafic sill. The Company is highly encouraged by this initial result and further geophysical and drilling activities are being planned. The drill core is currently being sampled and results will be available over the coming month.
Diamond core drilling tested a previously identified high order electromagnetic (EM) target. The Company is also planning additional EM surveys in addition to Induced Polarisation (IP) geophysical surveys to define further exploration drill targets across the sill. The sill has dimensions of approximately 5km x 1.5km and remains largely underexplored.
•
The Company has identified a significant nickel sulphide exploration target. This target is of a similar geological model to Mirabela Nickel’s giant Santa Rita Nickel Project also in Brazil.•
Compilation of previous exploration indicates that an extensive nickel soil anomaly is present


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## imajica (17 November 2009)

20002570 shares traded today! about 10 times normal volume. 

up from 4c to 4.5 (15% gain) - closing on its high for the day - chartists would agree this is a very bullish signal.

announcement due any day now regarding nickel assay results and development of their high grade copper resource.


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## Nathan74 (18 November 2009)

I've been holding AVB for a few months now but was a bit disappointed with this mornings announcement on drilling results... _"0.09% Nickel from 282 metres"_. The share price has been smashed in early trade


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## imajica (18 November 2009)

The high grade copper resource alone is valued at much more than the current market cap. any news of a JV regarding the copper will see a flock of buyers joining the register. the nickel is the icing on the cake. Many traders bought in because of the initial drill assay result. It was not economic so they dumped it. The prospect is 5km x 1.5 km and people are dumping over a single hole! Once the dust settles, investors will once again see the fundamental value of AVB. Just give it time!


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## yoplait (8 February 2010)

*avb*

cant believe the lack of posts on avanco resources (avb) have a look at todays ann and tell me this isnt destined for great things


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## yoplait (28 February 2010)

Worth a listen on BRR you will be amazed i didnt realise the carracas is bigger than the pilbara region . when there nickel ground is proven up , which they seem to think could be bigger than mirabella resources , now thats sit up and take notice stuff and they havent even explored there iron ore ground lol


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## Nathan74 (9 March 2010)

Does anyone have any thoughts on the latest capital raising for AVB? I am quite interested in taking the offer up as the prospects for AVB look promising. But then again, I am a bit of a novice, especially when it comes to the resource sector.


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## happytown (4 August 2010)

2,000m diamond core drilling program underway at the Rio Verde Antas Sth deposit hi-grade zone

previous drilling results incl up to 38m @ 7.49% Cu from surface [4m @ 50.6% Cu], 26m @ 5.47% Cu from 18m [4m @ 28.0% Cu], 20m @ 5.12% Cu from 13m [2m @ 34.1% Cu]

as at 30/07, 18 holes for 1,008m completed, with assay results pending

current jorc resource:

Rio Verde Project Antas Sth deposit jorc resource estimate, 7.977Mt @ 0.83% Cu for 66,100t Cu, using 0.3% Cu cut-off [6.254Mt @ 0.71% Cu indicated; 1.723Mt @ 1.27% inferred] – incl hi-grade zone, 0.21Mt @ 11.65% Cu for 24,400t Cu [0.089Mt @ 12.72% Cu indicated; 0.121Mt @ 10.87% Cu inferred]

avb 



> ... anticipates ... 'decision to mine' status and receipt of the trial mining license, before end 2010.



from Jun qtr activities,



> ...
> 
> During the current drill programme significant widths of high grade copper mineralisation have been logged in a number of drill holes.



other projects include Touro Ni Project and Trindad Nth Fe Project (approx 10km from Vales N4-N5 Serra Nth Fe mine - biggest in world 6Bt @ 65% Fe)

all projects are in Carajas mineral province, Brazil

current sp 0.021 (note over 200m oppies with exercise price @ 0.015)

current mc (fully diluted) approx $15.7M, cash in bank $4.5M


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## happytown (19 August 2010)

ann out today

Vale, world's largest iron ore miner, have signed an option (for exploration and to potentially acquire) avb's trindade nth project

vale will undertake drilling program at trindade nth

US$2M payable for option for first 3 years

should jorc compliant resource (measured and indicated) result, royalty payments flow

max payments to avb, should vale proceed with option to acquire, capped at US$40M

further results from current drilling program at rio verde and new carajas transactions expected over coming months


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## happytown (21 September 2010)

further drilling results out today,

incl:

*9m @ 50.49% Cu from 18m*

sp up approx 120% today at one stage, settling down now

awaiting further drill results


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## happytown (21 September 2010)

close to 50% turnover in shares today thus far, day traders likely all over this one

the drill results are put simply, some of the best Cu interesctions going around, fully diluted market cap approx $40M


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## kash (29 September 2010)

This company has alot going for them. Big rise today on this news.
The Company is very pleased to advise that it has taken receipt from Vale 
S.A. (Vale) of an initial US$100,000 payment in consideration of the previously reported option agreement wherein Vale can exercise the right to acquire Trindade North from Avanco for up to US$40,000,000 arising 
29 September 2010 from in-situ iron ore royalties and other qualifying fees.

Also the drill report from there other prospect due soon with more great result by the look of it.
The results for the pending drill holes assays are expected soon, with *abundant copper mineralization having been already logged for *
*many of these holes.* The Company is anticipating to be able to report 
further results in the coming weeks.


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## happytown (30 September 2010)

at 10.5c (reached this am) it becomes a simple equation

400% profit in under 2 months

with further potentially stunning drill results to follow

direct shipping Cu ore


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## goldragon (1 October 2010)

Uggh... I bought it at 9.9c and now dropped to 9.0c hope it will raises


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## kash (1 October 2010)

Your 9.9c would look quite nice now( 8.8/9c would have been better). This little share has so much going for it. Great prospects, awesome drill result with more to come very soon. I brought this at 7c sold at 7.8, brought back in at 7c sold at 9.7. then i could resist/ or wait so i brought back in at 9.4. Was worried i would miss the jump up in price to ann. Glad to be holding these ones into next week.


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## happytown (4 October 2010)

happytown said:


> 2,000m diamond core drilling program underway at the Rio Verde Antas Sth deposit hi-grade zone
> 
> previous drilling results incl up to 38m @ 7.49% Cu from surface [4m @ 50.6% Cu], 26m @ 5.47% Cu from 18m [4m @ 28.0% Cu], 20m @ 5.12% Cu from 13m [2m @ 34.1% Cu]
> 
> ...




2 months to the day, sp reaches .17

700% profit

still half of the drill results to be released

decision to mine by end of year

direct shipping Cu ore


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## STRAT (4 October 2010)

happytown said:


> 2 months to the day, sp reaches .17
> 
> 700% profit
> 
> ...



Hi Happytown.
AVBOB has tranformed my year.
Im surprised at the lack of chatter on this one.


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## kash (4 October 2010)

Maybe they missed out. I have sold again today. Now hoping a settling back to 12.5-14c so i can buy again before ann.


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## Jeremy8888 (5 October 2010)

now up a little and running at 19.5! anyone any idea how high they could go??


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## Ruprect (5 October 2010)

*"now up a little and running at 19.5! anyone any idea how high they could go??"*

Now that is anyones guess! Having sold out of most of my options earlier, im sitting on the sidelines waiting for another opportunity. That may end up being wise or very very foolish!

Im trying to get a handle on what is going on. Is the music going to stop when all the traders exit? There have been some massive buy orders going through over the last 3 days, like in the millions at a time. Is that someone picking up for a portfolio or another company? Or is it just traders playing with the stock?

I still think traders, but they have been playing with it longer than i would have expected. Nevertheless, still at least another two announcements this year, more assay results and a decision whether to mine. There could be more upside if both those are positive. It has trader interest anyway so if they are involved, expect them to play again.


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## happytown (5 October 2010)

STRAT said:


> Hi Happytown.
> AVBOB has tranformed my year.
> Im surprised at the lack of chatter on this one.




hey STRAT

when you think about it, with the inceased interest in cu of late and the previous results from the hi-grade zone from avb, was surprised virtually everyone had ignored it - still that enabled some to load up around .02

you've had a nicer ride on the oppies, well done


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## Hurley18 (6 October 2010)

Is it still worth jumping on these bad boys or has the boat left the dock.. can't believe i missed these earlier


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## noie (6 October 2010)

I realized that was a poop response.. nothing is over..
The re rating from the recent sale is done.

Ihe company has some other irons in the fire (pun intended)

RIO VERDE HIGH GRADE COPPER PROJECT (their Main project) 

TOURO NICKEL PROJECT

both could produce results.


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## goldragon (6 October 2010)

can be a bright prospect share.

I think it worths more than the current value with all these announcements.. just my .02c


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## STRAT (7 October 2010)

happytown said:


> hey STRAT
> 
> when you think about it, with the inceased interest in cu of late and the previous results from the hi-grade zone from avb, was surprised virtually everyone had ignored it - still that enabled some to load up around .02
> 
> you've had a nicer ride on the oppies, well done



Hi Happytown.
Im pretty much (TA) only but
Bought AVBOB after a tip from a fellow (FA) member on Share Trader at 1c.
Have let some go as we do/must. What goes up so fast can always come down as quick. No body is more surprised than me as to how hard this has run. Never spent so much time lookin at depth day after day in my life. but 15 baggers can be a once in a life time deal for some and never for most so Im counting my lucky stars and doin my best not to blow it.
Potential upgrade in coming weeks could well set it off again but I wouldnt be buying in at these levels. The odds are no longer in our favour I reckon.

I have been rather surprised by the way the options have lagged behind the heads though. EX is 1.5c. I may well convert mine if it continues after the re rate levels out and I still hold when that happens.


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## neil79 (12 October 2010)

Be interesting to see where this one goes when they come out of TH. Good news and it's off again. I thought after the last big run it might have retraced a bit to form some support at lower levels. Anyways onwards and upwards from here and very happy to be holding this one long term.

Cheers and good luck to all holders


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## mr. jeff (13 October 2010)

neil79 said:


> Be interesting to see where this one goes when they come out of TH. Good news and it's off again. I thought after the last big run it might have retraced a bit to form some support at lower levels. Anyways onwards and upwards from here and very happy to be holding this one long term.
> 
> Cheers and good luck to all holders




TH  - NR:

MORE SPECTACULAR COPPER RESULTS AT RIO VERDE
The Company is very pleased to advise that it has received the outstanding assays for the recently completed 2,000m drilling programme at its Rio Verde Copper Project. The new results continue to support the presence of an exceptionally high grade copper zone and include the spectacular intercept of:
2.05 metres at 42.68% Copper from 49.0 metres.
Further exceptional results returned for the shallow high grade zone are:
ARVD-85 7.25m at 14.26% Copper from 49.75m
Incl. 2.05m at 42.68% Copper from 49.75m
ARVD-86 3.0m at 10.85% Copper from 58.0m
Incl. 1m at 23.6% Copper from 58.0m
ARVD-87 1.0m at 24.5% Copper from 40.6m
ARVD-89 1.3m at 17.98% Copper from 63.0m
ARVD-92 18.0 m at 2.06% Copper from 25.0m
Incl. 3.0m at 6.75% Copper from 39.0m
ARVD-94 42.0m at 1.23% Copper from 13.0m
Incl. 0.65m at 35.88% Copper from 51.35m
ARVD-95 18.0m at 1.77% Copper from 20m
Incl. 2.0m at 4.57% Copper from 30.0m
ARVD-96 2.0m at 6.93% Copper from 46.0m
ARVD-98 12.0m at 1.97% Copper from 24m
Incl. 1.05m at 6.53% Copper from 25.4m
ARVD-102 11.0m at 1.02% Copper 4.0m
Incl. 2.0m at 3.32% Copper from 11.0m

Drilling results clearly demonstrate that the high grade zone extends to over 300m laterally and remains open along strike and at depth. Interpretation also indicates the likely presence of a second as yet undiscovered highly mineralised structure existing to the north of the current high grade zone.
The Company is extremely encouraged by these results and is now planning an aggressive +10,000m follow up drilling programme aimed at further extending and discovering additional high grade copper.

They have come back to $0.16 today, a 20% decline from pre NR enthusiasm I guess.

These results are reasonably interesting.
some of the grades seem to be quite a lot higher than normal. 

! 

Has anyone got any idea where this leads the company. It seems they have amazing drill results and major further prospects. Possibly very promising.


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## mr. jeff (13 October 2010)

plus this in the Australian today;

Robin Bromby From:The Australian October 12, 2010 12:56PM

"We’ve noted the rare earth stock excitement, but it’s copper that is driving a junior like Avanco Resources. Seven weeks ago you could have picked up this stock for 1.5c – today it went through 20c and in the first two hours of trading there were an astonishing 2200-plus trades. That followed today’s announcement of more results from the company’s Rio Verde project in Brazil, with intersections including 2.05m at 42.68 per cent."

So there you go. Excitement all round. Hope some of you guys actually bought it rather than adding it to your watchlist!


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## richyrich (13 October 2010)

great company but in for a slaying tomorrow i will try to buy back more at 10-12cents if it gets that low,bad timing from director but i guess i would sell also and take my profit-i just hope he dosnt do the same to VOR time will tell good luck all


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## Nidz (14 October 2010)

G'day all. I have seen the sudden spike since new copper project and the jump to 20c or so.. I also see the director has sold off a heap of shares and prices have fallen back to 16c or so.. Anyone have any professional forecasts for what might go on here? I see upcomming projects but has this hit it's peak or is this the start of big things to come?


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## mr. jeff (14 October 2010)

I don't know how this will work out, but I can see that he was obviously waiting for this ann. before shuffling off 15M shares. 

the ann.:

13 October 2010
RE: CHANGE OF DIRECTORS INTEREST NOTICE
The Company advises that Mr Matthew Wood has sold 15,790,000 ordinary shares and 1,300,000 1.5 cent options.
The proceeds from the sale of these shares are being used to meet commitments including tax liabilities.
Mr Wood retains a beneficial interest in 15,945,000 ordinary shares and 6,203,000 1.5 cent options, representing 3.11% of the issued capital.
Mr Wood has no intention of selling any further stock, is a founding director and a long term supporter of the Company.

Hope this helps.
If this is a one off sale, then it could be an  good opportunity to have a bit of a sniff. 

By the way , it should be noted that I am watching only, and that there are much larger volumes per day (See chart) than 15M, so read what you will into this. Also note on the chart that there seems to be a good point of support at $0.15, but then again at 0.10. Current SP is $0.155
Happy hunting.


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## warthogjump (14 October 2010)

On the October 12 release it states that 

"The Company also expects to be able to announce news on further acquisitions in the Carajas Province in the coming month."

Could the share price positively spike again on these news?


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## Nidz (14 October 2010)

I see that this current spike will go back down.. I purchased earlier today @ 16.5 but I should have probably waited a little longer for the low point as it's now at 14c.. In any case I hope that the prices will jump again or they find more good copper. I'm counting on it!


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## UBIQUITOUS (16 October 2010)

Well well well. There appears to have been a mass panic caused by one director selling half of his stock. In the same way that the herd panicked to buy in case they missed the boat, then have now panicked in case they get left on board a sinking vessel. All fundamentals have gone out of the window. It's funny to watch. I bought some at 12.5c and may well buy more should the panic continue, although it looks as though it had abated by the end of the day.


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## dmaleny (16 October 2010)

i think people expected pure copper to come out of the ground going to 10 -12 cents short term ??  no reason why it would drop below 20c


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## warthogjump (18 October 2010)

Avanco soaring away to 16c after a close of 13.5 on Friday, without any new good copper news to help it ;p


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## Nidz (28 October 2010)

Fallen still to 11.5c.. I hope they have some good news re the copper drilling. As soon as they hit another hot spot I feel the price will rise once again.. They can go cold quite quickly and then bounce back as fast.


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## warthogjump (28 October 2010)

AVB's definitely gone down hill quite fast! Lots of $$$ down the drain if it doesn't get good news. 

How far you think the price can spike on some good news? 20c or more? or lower


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## Iggy_Pop (28 October 2010)

7 cents following the chart should be as low as it goes. Will not see some news for a while so maybe a good opportunity to top up. In my view it will repeat and go over 20c and maybe higher.


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## adobee (29 October 2010)

I think we could see AVB bounce back from here.. a bit of a turn around this morning.. I have started picking up around 13c.. I am hoping this turns into another sandfire.. If the director hadnt sold stock I think this would be more like 30c now.. he probably had some school fees to pay..


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## warthogjump (29 October 2010)

that's a shame, avanco should come before school fees! 

the company's released information on the annual general meeting and the acquisition of the nickel platinum project... share price spike on Monday?


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## MEGALADON (29 October 2010)

I undertstand the sell off was for Tax Obligations and "Portfolio Balancing" 

Given the big upside potential in AVB and current drilling, I wonder what other companies this particular director has in play? obviously ones with larger potential?

Time for some google searching?


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## happytown (29 October 2010)

MEGALADON said:


> ...
> 
> Given the big upside potential in AVB and *current drilling*
> 
> ...




was not aware they are currently drilling

note the recent sp action was a response to the recently completed and fully reported 2,000m drilling program at rio verde - no more assay results are due to be reported from that drilling program

they are currently in the process of planning a 10,000m follow-up drilling program, expect more news on that in the qrtly report either today or monday


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## warthogjump (29 October 2010)

depending on if the resolutions are passsed or not on the annual general meeting nov 30, would it be expected to have a significant impact on the sp?


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## warthogjump (4 November 2010)

trading halt for capital???

what is going on?

share price spike up or decrease on monday? Too late to do anything now anyway!


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## cosmick (2 December 2010)

avanco has been going very well at the beginning, but lately it's been going down the pooper! im ashamed to say that i invested a huge amount into this company, and it has yet to pay off! what could they possibly be doing that will take so long to achieve?!!! it has been quite mentally unsettling knowing that i am losing money everyday, and i need some kind of reassurance! i bought at 18c and since then its been nothing but destruction 

help...anyone?


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## Iggy_Pop (2 December 2010)

I just bought a few more. There was always going to be a gap between announcments, with the major drill program announced last week, a popular capital rasing for sofisticated investors at 10c. Share price was always going to drop back a bit. The drill program ramps up next year, and with some positive results, SP will take off again.


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## cosmick (3 December 2010)

You gave me a glimpse of hope
But why is it that there will always be a minor drop after the massive rise? And what did you mean about the 10c shares?
Are you sure that things will pick up next year for sure?


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## Iggy_Pop (6 December 2010)

There was a capital raising for sophisticated investors at 10c, which is now all finalised. 
One can never be sure is things will pick up or not, need to run with alerts and stop losses to minimise losses. 

Also the Dillers and Diggers newsletter will have an influence on the share price, as after their recommendation to buy it took off. At some point they will give a sell suggestion and it will drop in price (LYC was reccomended a sell recently and dropped 30% in 2 weeks, but has since recovered most of it). If you are not subscribed, recommend the $89 as you can gain/lose much more as  they have a following which influences these small caps.

Off course this is only my opinion


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## warthogjump (16 December 2010)

cosmick said:


> You gave me a glimpse of hope
> But why is it that there will always be a minor drop after the massive rise? And what did you mean about the 10c shares?
> Are you sure that things will pick up next year for sure?




I can't believe I can see some posts back on AVB. Thought people had forgotten about this stock. Cosmick, you should go check out hotcopper for avb and it should reassure you, as it did me, that AVB will pick up a lot next year. There's so many things holders are waiting for, when they come into play, SP has to rise. 

For 1), they have the long awaited JORC not released yet, 

2) another a deal with major company Vale on the way for drilling, this will have major impact on the SP and has been has earlier been promised to be by the end of this year, but we'll see what happens as this isn't Vale's priority

3) because they started their 50,000m drilling programme, results are expected soon (2-3 months, shorter if lucky) and going by previous results, the results are going to be good! Once good results are released (again), SP will have to rise because this will simply cement people's "opinions" on how good a company AVB is

4) The price of copper is on the rise, and once AVB starts producing holders will be laughing, which is estimated 12 months, probably the biggest wait out of all things expected. 

The SP right now has fallen back down like the previous poster said due to the cap raising at 10c, BUT, the fact that the SP has not hit 10c since the cap raising is a very strong signal for AVB. 

Ultimately, if you wait, long term, next year it will pick up significantly. If you're hungry short time, you're probably going to lose the money you invested because there doesn't seem to be much happening ATM. 

Price prediction by a lot of experienced investors is $1 by end next year. It will be worth the wait, even if it falls short of that target.


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## Market Depth (2 January 2011)

cosmick said:


> avanco has been going very well at the beginning, but lately it's been going down the pooper! im ashamed to say that i invested a huge amount into this company, and it has yet to pay off! what could they possibly be doing that will take so long to achieve?!!! it has been quite mentally unsettling knowing that i am losing money everyday, and i need some kind of reassurance! i bought at 18c and since then its been nothing but destruction
> 
> help...anyone?




Hang in there Cosmic. This stock has potential, good support at 0.13, and trying to push higher, just need some news now, but from the looks of things , the selling has slowed to a crawl.

You gotta be careful when trading these Micro stocks, They can be very good to trade at times, but you need to do your homework first, and be 'In the Stock' before it takes off. If, however you miss the 'Take off', be patient and wait for the volitility to settle down. And don't buy what you can't afford to lose. I only ever use 2% of my trading capital on these little guys.


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## happytown (4 January 2011)

2011 - the year of the avanco

up strongly today

extensive drilling program underway

news expected this month/this quarter incls: drill results; resource upgrade; trial mining licence for Antas Sth; new economic study for Antas Sth; decision on potential cu dso; high quality copper project acquisitions; drilling permission for trinidade nth

to name a few

2011


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## warthogjump (4 January 2011)

cosmic almost covered your loss, at 17c now, its running quite fast. time to hold on tight it could be a rollercoaster of a ride!


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## Nidz (5 January 2011)

I had a grands worth @ 16.8c and yesterday when it peaked at 18c I decided to cash in and buy back at like 13-14c where it's been sitting for the past few months since the October peak when the project began. I think that will be the safe spot. It's not gotten over 17c in 3 or so months. It's hard to read as it could turnaround 4 cents in a day as we've seen.


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## cosmick (5 January 2011)

warthogjump said:


> cosmic almost covered your loss, at 17c now, its running quite fast. time to hold on tight it could be a rollercoaster of a ride!




thats wonderful news! i've been waiting so long for this day, my heart was beating so fast when i saw the number!
however, as you said, a rollercoaster is coming our way!
no rush, anyway, i can wait the year when it might come close to $1...now thats a return no one can say no to!!!
one of the great joys of life: watching your money growing without lifting a finger


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## Market Depth (5 January 2011)

A few 'Nervous Nellies' in there today, not to worry the overall market was down. I think the key point of today is a Close @ 0.165, half a cent higher than the 0.16 'High' in mid November. Should be looking for some price compression tomorrow or a reversal, depends on the market and the sector.


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## Nidz (6 January 2011)

I think without any signifficant announcement from the company, the safe buy in price would be around the 14c mark. The sweet sell price would be between 18 - 20c if it gets that high however the usuall turnaround is abour 18c. Hopefully they will make a new announcement soon with new drilling and good copper findings could push the price up some more.


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## warthogjump (6 January 2011)

another close at 16.5 today, which I'm quite happy with. After the spurge to 18c high the other day, I was either expecting a positive announcement or the sp to drop back strongly to the 13-14c range without news. We didn't get the news, but found support at 16c, which is good news of itself. 

One positive announcement, which could come at anytime from tomorrow to a couple months, will send avb flying if it's still holding around the 16c mark. T

I would imagine that although a positive announcement will skyrocket the sp, there will be significant profit takers (probably because so many buyers the other day looking for a short term profitable speculative stock) and the sell side could build up dropping the price a little again. 

imo, i would sell some stock in avb when the next +ve ann is issued, make a profit and buy back in later when the price drops and the short termers have taken their profits.


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## Market Depth (6 January 2011)

Managed to pick up a speeding ticket the other day too. Holding well today, fell into the 0.155 as the market sank, but turned around as the market pushed into the positive.


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## warthogjump (10 January 2011)

the buying pressure absent any announcement has surprised me. its fantastic news we have reached a 19c high today and I would expect higher on release of news. Would be very impressed with a close at 19c. AVB is dying to break loose, only matter of time now


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## happytown (10 January 2011)

AVB currently has 5 projects, all based in the Carajas Mineral Province of northern Brazil:

1. Rio Verde Cu Project (100%);
2. Serra Verde Cu Project (100% #);
3. Trindade North Fe Project (100%, Vale option to acquire);
4. Trindade South Ni Project (100%);
5. Southern Carajas Ni-Pt Project (earning up to 75%).

Avanco has recently commenced a major drilling program (see ann dated 24/11/10) totalling 50,000m across their various projects, comprising:

 25,000m @ Antas Sth Cu deposit - drill out and extensions
 10,000m @ Rio Verde - new Cu targets
 5,000m @ Serra Verde - Cu targets
 5,000m @ regional Cu targets - new projects
 5,000m @ Ni and Pt targets

1. Rio Verde Cu Project

Rio Verde (10km x 9km, 9,300ha) contains the Antas South Cu shallow oxide deposit, with an overall jorc indicated and inferred resource estimated in Jan 2009 at 8.0Mt @ 0.83% Cu for 66,100t Cu using 0.3% Cu cut-off (incl a high grade zone estimated at 0.21Mt @ 11.65% Cu for 24,400t Cu), based on 138 holes (73 diamond core holes for approx 5,200m and 65 RC holes for approx 3,200m), drilled on a nominal 100m x 25m spacing. The Antas South deposit extends over 2km strike length and is open along strike (to the NW and SE), with the high grade zone extending over 250m and open to the NW (Cu outcroppings at surface not included in jorc resource) as well as to the SE at depth (see ann dated 12/01/09).

 The Cu oxide exploration target at Antas South is currently 20Mt @ 0.8% Cu overall, with 0.5Mt of mineralisation in the high grade zone. The shallow Cu oxide deposit at Antas South extends from surface to approx 80m depth, with the potential for Cu sulphide mineralisation below the oxide orebody. The Antas North non-jorc deposit (1km N of Antas South) is believed to be Cu sulphide mineralisation overlain by a "significant Cu oxide zone" yet to be fully explored, with one hole at Antas North returning 49.3m @ 2.4% Cu (from unreported depth) (see ann dated 30/04/09 - March qrtly). However, drilling at Antas North encountered difficulties with core recovery, due to ground conditions, and after 10 holes in 2008 drilling was suspended (see 2008 Ann Rep).

 2008 drill results at Antas South (and included in 2009 jorc resource) incl:

 11m @ 1.65% Cu from 40m [2m @ 7.05% Cu from 48m] (030);
 12m @ 1.36% Cu from surface (09);
 56m @ 1.26% Cu from surface (021);
 20m @ 1.24% Cu from surface (027);
 14m @ 1.17% Cu from surface (046);
 10m @ 1.13% Cu from surface (031);
 12m @ 1.11% Cu from 36m (08);
 57m @ 1.07% Cu from surface [19.4m @ 1.91% Cu from 36m] (032);
 26m @ 1.02% Cu from surface [8m @ 1.63% Cu from 2m] (08);
 16m @ 1.0% Cu from 36m (012);
 53m @ 0.89% Cu from surface [19m @ 1.99% Cu from 4m] (01);
 62m @ 0.84% Cu from surface [32m @ 1.17% Cu from 20m] (045).

 2008 drill results from the Antas South high grade zone (and included in 2009 jorc resource) incl:

 38m @ 7.49% Cu from surface [14m @ 18.99% Cu from 22m] (017);
 26m @ 5.47% Cu from 18m [6m @ 21.02% Cu from 32m] (024);
 20m @ 5.12% Cu from 13m [4m @ 21.53% Cu from 17m] (049) (see for eg ann dated 17/09/08, note hole depths ranged from 21-75m AC/RC).







 2010 recently completed 34 hole, 2,000m diamond core drilling program at Antas South high grade zone proved the high grade zone extends over 300m laterally and remains open along strike and at depth (with indication of likely presence of second high grade zone to the north of the current high grade zone) with results, above 6.0% Cu, incl:

 0.65m @ 35.88% Cu from 51.35m (094);
 1m @ 24.5% Cu from 40.6m (087);
 1.3m @ 17.98% Cu from 63m (089);
 32m @ 14.79% Cu from 1m [9m @ 50.49% Cu from 18m] (080);
 7.25m @ 14.26% Cu from 49.75m [2.05m @ 42.68% Cu from 49.75m] (085);
 1m @ 14.0% Cu from 44m (081);
 1m @ 10.89% Cu from 52m (069);
 3m @ 10.85% Cu from 58m [1m @ 23.6% Cu from 58m] (086);
 2m @ 8.09% Cu from 28m [1m @ 11.83% Cu from 28m] (074);
 6.15m @ 8.06% Cu from 38m [3.85m @ 11.23% Cu from 40.3m] (072);
 2m @ 6.93% Cu from 46m (096);
 3m @ 6.75% Cu from 39m (092);
 1.05m @ 6.53% Cu from 25.4m (098) (see ann dated 12/10/10, note hole depths ranged from 35-82.7m).

 A jorc resource upgrade for the Antas South high grade zone is overdue and is expected to increase the resource tonnage as well as upgrade the resource from indicated and inferred to measured and indicated ("ready to mine status") (see ann dated 30/04/10 - March qrtly).

 The current 25,000m Antas South drilling program (the combined 2008 and 2010 drilling programs totalled approx 10,400m) is initially focussing on drilling out and expanding the high grade zone (see ann dated 08/11/10) which is open along strike and at depth (supra). It is then likely to test for 3 other potential high grade zones (incl one considered likely, supra, approx 250m N of current high grade zone) indicated in previous anns (see for eg ann dated 22/07/09, figure).

 Avanco released a scoping study on the economics of mining at the high grade zone in early 2010 outlining a plan to mine approx 20Kt of 25%+ Cu (oxide) as dso "out-of-pit" product, sales of which will enable it to self-fund (in the second year of mining) a 6,000tpm (sulpihide) second-hand flotation beneficiation plant to produce approx 5,000t  pa 20%+ Cu concentrate. The study only dealt with the first six years of mining the high grade zone, with the following results (based on Cu price US$2.50-3.00/lb):

 Total capex US$12.4M (incls US$2M pre-production capex being access, pre-strip (6:1 strip ratio), site establishment);
 Total revenue US$120M;
 Total cost of sales US$50M;
 Cashflow (NPV=0) before interest and taxes US$57M;
 Mining and processing opex US$51/t ore;
 Total cash cost (excludes precious metals credits) US$1.70/lb Cu.

 The dso "out-of-pit" operations can commence on approval of the trial mining licence (see ann dated 08/02/10), which the comapny was expecting to receive by the end of 2010 (see ann dated 30/07/10 - June qrtly). An updated study was expected to be finalised and able to support a "decision to mine" also by end of 2010 (see ann dated 21/09/10).

 The recent $20M capital raising, "massively oversubscribed", states that the use of funds will go toward, inter alia, "development studies" $1.5M and "working capital" $2.3M (see ann dated 08/11/10). Possibly the overdue jorc resource upgrade/increase and the updated economic study might await the results of the current 25,000m drilling program at Antas South, to include them. 

 Obviously a significantly improved Cu price combined with an upgrade and increase in the jorc resource of the high grade zone will impact on the revised economic study.

 Pre-production stripping is expected to commence at the high grade zone at the start of the dry season in 2011 (see ann dated 21/09/10), with the dry season running from July to October (see NI 43-101 Technical Report for INV Metals dated 27/10/10).

 The 10,000m Rio Verde new Cu targets drilling program will be targetting the Antas North deposit and four highly prospective prospects identified through Cu outcrops and subsequent soil sampling program, namely Paulinho, Lazinho, Clovis and Capivara, with Clovis in particular recording up to 2,000ppm Cu in soil sampling (see for eg Investor preso Oct 2008). Capivara is proximate to a potential high grade zone (see for eg ann dated 22/07/09, figure). None of the four prospects, Paulinho, Lazinho, Clovis or Capivara have yet been drill-tested.




The map below shows the drill targtets at Rio Verde (Antas South is the large red dot), as well as Serra Verde and the surrounding properties/tenements (Vale light green; Xstrata light blue; Teck Cominco/INV Metals light pink; Anglo American yellow; Lara Exploration brown/orange; Colossus minerals bright green; Others white - see Lara corporate preso November 2010).


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## happytown (10 January 2011)

cont/d

2. Serra Verde Cu Project

Serra Verde (7,500ha), approx 2 km N of Rio Verde, contains the abandoned historic Garimpo open pit mine where more recent channel sampling results carried out returned high grade results, incl:

 4.5m @ 16.50% Cu and 4.1 g/t Au;
 4.3m @ 8.92% Cu and 48.4 g/t Au;
 2m @ 7.77% cu;
 2m @ 7.02% Cu;
 9m @ 5.81% Cu and 4.48 g/t Au;
 9.6m @ 3.44% Cu and 3.29 g/t Au.

 Avanco believes the experience and knowledge they have gained in drilling out the relatively narrow Antas South high grade zone structure will benefit in the understanding of the potential for remnant high grade Cu mineralisation at the open pit.

 Two other Cu prospects at Serra Verde are the Alagoana and Pedro targets. The Alagoana target is a 1,500m NW trending Cu soil anomaly that has returned rock chip sampling up to 22.57% Cu, however previous wide-spaced drilling failed to intersect high grade Cu mineralistion, resulting in the need for tighter Antas Sth style drill spacing. The Pedro target, yet to be drill-tested, is a 2,500m NW-SE trending Cu soil anomaly connecting with the open pit (see ann dated 17/08/10).

 The 5,000m Serra Verde Cu targets drilling program will likely test the open pit at depth and along strike, as well as Pedro and Alagoana.

 Avanco does not discount the potential for the discovery of a large IOCG type deposit, similar to that which TSX-listed INV Metals (in jv with Teck Cominco) is exploring for in their Rio Novo tenements (28,937ha) immediately adjoining the northern boundary of Serra Verde. The Carajas mineral province hosts 5 of the top 10 IOCG deposits (proven and probable reserves) on the planet (Salobo 789Mt @ 0.96% Cu and 0.52 g/t Au; Sossego 355Mt @ 1.1% Cu and 0.28 g/t Au; Cristalino 500Mt @ 1.0% Cu and 0.3 g/t Au; Igarape Bahia 219Mt @ 1.4% Cu and 0.86 g/t Au; Cento e Dezoito (118) 170Mt @ 1.0% Cu and 0.3 g/t Au). Serra Verde open pit is described as IO(poor)CGMo (similar to mineralisation in the Cloncurry district), a small deposit previously subjected to small-scale mining by garimpeiros, that form in association with large-tonnage (low grade) IO(rich)CG mineralisation, but tend to be relatively small though high in grade. The previous mining focussed on two 20-30m long CuFe rich massive sulphide lenses, composed of 85% chalcopyrite, grading 0.5-1.0 g/t Au. Two targets drilled by Teck, RN-1 (approx 3km N of Serra verde) and RN-6 (approx 1.5km N of Serra Verde) have been interpreted as Sierra Verde style mineralisation and returned results (from RN-1) incl 55m @ 1.3% Cu and 0.2 g/t Au [30m @ 2.0% Cu and 0.32 g/t Au], 64m @ 0.94% Cu [21m @ 1.74% cu and 0.32 g/t Au], 47m @ 0.55% Cu [15m @ 0.94% Cu and 0.22 g/t Au] (all from unreported depths) (see NI 43-101 Technical Report for INV Metals dated 27/10/10)

 # Note, whilst the Serra Verde Project is subject to a potential "back-in" to 51% by Barrick Gold, Avanco does not believe this will occur (see Avanco website).

3. Trindade North Fe project

Trindade North (4,966ha) is thought to be highly prospective for economic grades of iron ore, with aeromag surveys indicating two potential BIF targets with a combined strike length of approx 7km near the northern boundary. Rock chip sample results incl 54.2% Fe and 50.2% Fe. The property is surrounded by Vale (the largest iron ore producer on the planet) and next door to Vale's N4-N5 Serra North mine (biggest iron ore mine on the planet) and has Vale's iron ore railway running through it to the coast.

 Vale has signed an option with Avanco to acquire the Trindade North property on the following terms:

 On receipt/signing of regulatory permission to drill at Trindade North, Vale will pay Avanco US$350K (non-refundable) for a 2-year option;
 Vale to drill at least 2,500m at Trindade North within first year;
 For second year of option Vale must pay Avanco US$600K (after first year);
 To retain and extend option for third year Vale must pay Avanco US$1M;
 Vale will pay Avanco a royalty for any in-situ measured and indicated jorc resource estimated from drilling;
 Once Avanco has received US$10M (estimated), courtesy of all the above, from Vale, Vale can complete the 100% acquisition of Trindade North (payments to Avanco are capped at a maximum of US$40M);
 Any non-Fe economic mineralisation discovered will involve renegotiation of terms (Vale right of first refusal) (see ann dated 19/08/10).

 Vale has paid Avanco an inital payment of US$100K toward the non-refundable initial $350K payment and provided details of the proposed drill collar locations, awaiting only the regulatory approvals for drilling to begin and further payment of US$250K (see ann dated 29/09/10).

 With the potential of US$10-40M cashflow to Avanco from this deal, it will assist in Avanco's goal of becoming a self-funding leading Carajas junior explorer/producer.

4. Trindade South Ni Project

Trindade South (15,000ha) is thought prospective for Cu, Ni and Fe and is located approx halfway between Vale's Ounca-Puma Ni mine and the Vermelho Ni deposit, and contains the Touro Ni Project. Previous single hole exploration at Touro (no Ni assaying) results 9m @ 0.12% Cu from 139m and 5m @ 0.28% Cu from 288m and previous geochem soil sampling at an extensive Ni soil anomaly produced results up to 2,192ppm Ni, 846ppm Cu and 26ppb Pt (see ann dated 30/07/09 - June qrtly).

 Avanco has carried out two drilling programs at Touro, the first in Oct 2009 was a single diamond core hole to a depth of 430.1m testing the Ni soil anomaly (supra) associated with a high quality EM anomaly, intersecting a variably sulphide mineralised differentiated mafic sill (approx 5km x 1.5km) (see ann dated 26/10/09 - September qrtly). The hole intersected 130m @ 0.09% Ni from 282m, a "highly encouraging" result, coupled with an IP survey run over the sill detecting strong IP anomalies considered high priority drill targets, ground magnetic survey defining a 4km long magnetic anomaly and soil geochem sampling indicating existence of extensive Ni soil anomaly over 4km long aligning well with the magnetic anomaly (both trending EW to ENE), with Ni values up to 2,000ppm. Together these are thought to highlight the geological similarities to the giant Santa Rita Ni Project in NE Brazil (see ann dated 18/01/10).

 The second, a 10 hole, 2,000m diamond core program to test the IP and Ni-Pt soil anomalies over 2,400m of strike along the sill (see ann dated 11/03/10). Due to widespread flooding drilling had to be suspended after 4 holes for 722m were completed, with results over 2m intervals up to 0.38% Ni, 0.05% Cu, 17ppb Pd, 30ppb Pt and 108ppb Au. Economic grade mineralisation is believed more likely within the footwall  contact zone of the sill, N of the completed holes, with EM surveys and geochem soil sampling to be undertaken to determine new drill targets.

 Avanco has signed confidentiality agreements with a number of groups re potential joint junding future exploration at Touro (see ann dated 13/05/10).

 The 5,000m Ni and Pt targets drilling program may test the footwall contact zone as descibed supra.


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## happytown (10 January 2011)

cont'd

5. Southern Carajas Ni-Pt Project




Southern Carajas Conceicao licence block (approx 47,000ha) comprising four granted blocks and three blocks the subject of applications and is thought prospective for Ni, Cu, Pt massive/semi-massive sulphide mineralisation and Avanco has agreed to terms with TSX-listed Lara Exploration to earn 75% interest in the project by:

 Upon regulatory drilling approval, undertake 1,500m drilling within 1 year;
 Generate jorc resource within 3 years;
 Provide expl report and maintain good title (see ann dated 29/10/10).

 Both Xstrata (then Falconbridge) from 2005-07 (jv withdrawal attributed to Xstrata takeover of Falconbidge in 2007) and Teck Cominco from 2007-08 (jv withdrawal  attributed to GFC effects, although Teck stated the expl results weren't encouraging enough) had been jv partners with Lara at the four granted Conceicao licence blocks (as part of jv's with Lara over Lara's Araguaia Project which also incls the Vila Oito and Floresta licence blocks) and undertook various levels of exploration (incl surveys and drilling).

 Exploration at the four granted Conceicao blocks consisted of:

 Soil gridding survey during reconnaissance prospecting in 2005 by Xstrata;
 Heli VTEM survey over central part of block in mid-2006 by  Xstrata;




 Regional mapping, rockchip sampling, re-interpretation of Xstrata survey data, selection of target anomalies (Sul do Baiao near the northern boundary of the northernmost block and D grid on the southern boundary of the southernmost block) for drill testing in 2008 by Teck;
 Auger drilling and one diamond core hole were carried out at D grid and one diamond core hole at Sul de Baiao by Teck in 2008;




 Ground surveys were to commence on EM targets selected from Xstrata VTEM survey by Teck just prior to jv withdrawal;
 Ground surveys were carried out to review the Xstrata and Teck fieldwork indicating disseminated Cu-Ni sulphides in mafic intrusives and the Cu-Ni gossan anomaly by Lara.

 Rock chip sample results from Xstrata and Lara (Teck closed down program prior to obtaining results) ranged up to 5,272ppm Ni, 4,762ppm Cu, 131ppb Pt and 481ppb Pt. Soil sampling by Teck at D grid defined an anomalous Ni zone 1,200m long x 350m wide using 300ppm Ni soil contour with a N-S orientation. Teck drillied seven auger holes at D grid ranging in depth from 4-13.7m with best results 3.35m @ 0.63% Ni, 5m @ 0.53% Ni, 3m @ 0.5% Ni and one diamond core hole to a depth of 20.5m intersecting 4.5m @ 1.21% Ni from surface and one diamond core hole at Sul do Baiao to a depth of 18.4m intersecting 3m @ 0.48% Ni.

 No exploration details are known regarding the three Conceicao blocks subject to applications. Whilst the southernmost of the four granted Conceicao blocks is prospective for laterite mineralisation (at the southern boundary) the rest (of all 7 blocks) are considered prospective for large volume, low-grade sulphide mineralisation.




 Several Ni deposits are located in the proximity of the Conceicao licence incl the Serra do Quatipuru deposit approx 35km SW (Vale historical non-jorc resource 13Mt @ 1.3% Ni), several deposits directly adjoining Lara's Vila Oito block (Teck non-jorc conceptual resource 86Mt @ 1.3% Ni using 1.0% Ni cut-off), Vila Oito target deposit approx 30km N (Lara scoping exercise non-jorc conceptual resource 10-11Mt @ 1.3-1.4% Ni using 1.0% Ni cut-off) and Floresta target deposit approx 60km N (Lara scoping exercise non-jorc conceptual resource 5-6Mt @ 1.1% Ni). Lara does not consider Vila Oito or Floresta would be sufficient to support a stand-alone mine operation (see NI 43-101 Technical Report for Lara Exploration Ltd 20/01/10).

 The Araguaia Project Serra do Tapa, Vale dos Sonhos, Pau Preto deposits approx 100km N (Xstrata measured, indicated and inferred jorc resource 122.7Mt @ 1.33% Ni using 0.9% Ni cut-off), currently on care and maintenance and described as longer term growth option (see XStrata Mineral resources and ore reserves preso December 2010).

 All the above deposits are laterite deposits, there are currently no reported sulphide deposits in the region.  

 Avanco intends to carry out soil geochem and ground geophys surveys in order to define high priority drill targets this year. The 5,000m Ni and Pt targets drilling program may test any targets defined in the surveys.




6. Further project acquisitions

The acquisition by Avanco of several additional high quality cu projects in carajas is at advanced stage of negotiations - $3M has been set aside from the recent "massively oversubscribed" placement, for acquisitions (see ann dated 08/11/10)

 Avanco's stated preference is to pursue properties near exisiting projects, whilst avb's projects (Rio Verde and Serra Verde) are surrounded by majors like Anglo, Vale, Teck and Xstrata, there are several other properties within a 20km radius of Rio Verde and Serra Verde, incl several directly adjoining them, further, Avanco makes the claim it is going to become the leading junior explorer in the Carajas mineral province (see AGM preso dated 30/11/10).

 Interestingly, the TSX-listed Lara Exploration, who hold the Conceicao Ni-Pt Project that Avanco is earning into (up to 75%, supra) also hold several tenements directly adjoining the entire western boundary of the Serra verde Project and within 500m of the western boundary of the Rio Verde Project (see Lara corporate preso November 2010). The westernmost boundary of Serra verde adjoins a tenement owned by "individuals" described as JBSC (see NI 43-101 Technical Report for INV Metals dated 27/10/10).

 The above post is a reasonable factual representation of Avanco as it currently stands and is not intended as evidence supporting any of the future speculative share prices mentioned in this thread.


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## Adam A (10 January 2011)

Wow is that all your own work?

If so congratulations on one of the most detailed pieces ive read for a long time 

Thanks for sharing


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## happytown (11 January 2011)

cheers AdamA

it all comes from publicly available information, indicated by (see ... )


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## Adam A (12 January 2011)

Announcement released at about 6pm

quote
"The Company is very pleased to advise that it has obtained the required
permissions for drilling at the Trindade North Iron Ore Project in the
Carajas. The drill programme will be undertaken by Brazilian major Vale
SA (Vale) and rig mobilisation is expected over the coming weeks.
Exploration of Trindade North has been ceded to Vale through the
previously reported option agreement1. On satisfactory completion of
drilling, resource determinations and payment of US$10m to $40m, Vale
will have satisfied conditions precedent and will have earned the right to
100% ownership of Trindade North." end quote

and more 

quote

"EXPLORATION UPDATE
The 50,000m copper and nickel platinum drill programme is ongoing
with initial focus on the continued drill out and testing of extensions to
the very high grade Antas South copper discovery at the Rio Verde
Project. One diamond rig has completed approximately 250m for 4 holes
with *high concentrations of copper mineralisation logged in some holes.*The Ramp up of additional drilling rigs is imminent and will be directed
at testing new high value copper targets at Rio Verde and the
neighbouring Serra Verde Property.
With drilling activity expanding and a number of new Carajas project
developments at an advanced stage of negotiation, significant news flow
is anticipated over the coming months."end quote

Will be interesting to see how the market reacts tomorrow ( my bold highlighting)


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## kalin (12 January 2011)

news looks good.. id be expecting a nice boost to the share price..


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## warthogjump (13 January 2011)

kalin said:


> news looks good.. id be expecting a nice boost to the share price..




hopefully we can top 23.5, but i reckon there will be a lot of profit takers acting on this news. therefore could expect a boost in selling price followed by a drop (doubt it will drop below 19c though). we'll see what happens, next few months is going to get much more exciting! avb's barely started hehe


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## warthogjump (13 January 2011)

wow, the opening really beats me. an opening at 18.5 and then a drop to 17.5. don't really understand that. when i said there would be profit takers, I imagined that the sp would have to go up at least into the 20's for short termers since the sp has been around 17-19c for a little while now. Had heaps of opportunities to sell at that price, I really don't understand why sellers are selling on release of the update at around the same price. 

could possibly be the bigger buyers dragging the price down to try and get in at a lower level because they anticipate spectacular drill results soon. but how long can this last!


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## happytown (13 January 2011)

yesterday's post-market ann was not likely to put a rocket under the sp for the following reasons:

the regulatory drilling approval at trindade north was expected, there was no surprise that it was going to be approved - after all it is brazil and its is vale

what we have now is vale obliged to drill 2,500m over the next 12 months

the trindade nth news that will have the potential to affect the sp is likely to be the drill results as that will indicate the fe quality and be the determinant as to whether vale continues with the option to acquire by embarking on a resource drilling program - the vast majority of the money possibly due Avanco is the royalty courtesy of a measured and indicated resource

at this stage the only money due to avanco is the $350K for the regulatory drill approvals (which they have received or are in the process of receiving)

the information re the antas sth drilling program was that 4 diamond core holes have been drilled for approx 250m and that high concentrations of copper mineralisation were logged in some of the holes - that's not news, they are drilling in the antas sth high grade zone, news would be that they didn't log high concentrations of copper mineralisation in any of the four holes drilled to date

the assay results will be the information the market is looking for, also this represents a mere one percent of their planned antas sth drilling program

if the assay results can show the antas sth high grade zone mineralisation extends substantially and that there are other high grade zones at antas sth, again the market will likely respond

it is very early days in the current drilling program 

wait for the assay results

would also like to see them extend some of the drilling deeper to test the expected sulphide mineralisation thought to be below the oxide orebody

don't forget the sp is up 800% since aug last year - go back a couple of pages to the aug 2010 postings


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## happytown (16 February 2011)

attaching drill hole location grids for the antas sth cu deposit to assist in better understanding of the current 25,000m drilling program underway

the grids are based on all the holes (incl aborted) that avanco have released the following information on:

hole co-ordinates (eastings/northings)
hole depth
cu intersections (or nsi - no significiant intersections, and awaiting assay results)

consequently it includes ARVD-01 - ARVD-034 (2008 diamond core/RC); ARVA-01 - ARVA-60 (2008 RC); ARVD-069 - ARVD-102 (2010 diamond core); and ARVD-103 - ARVD-109 (2011 current drilling)

it does not include details for ARVD-035 - ARVD-068 (2008 diamond core); and ARVA-61 - ARVA-65 (2008 RC) [requests for these hole details have been refused by the co - note these grids were not provided by the co, the details were taken from co anns]

the first grid contains all avanco's reported holes

[note due to the maximum size limit for attachment files the text may not be clear]

diamond core - purple; RC - red; current - green

the second grid contains the 2008 diamond core/RC program (ARVD-01 - ARVD-034) and includes hole no's, hole depths and all cu intersections

the third grid contains the 2008 RC program (ARVA-01 - ARVA-60) and includes hole no's, hole depths and all cu intersections

the fourth grid contains the 2010 diamond core tighlt-spaced hgz program (ARVD-069 - ARVD-102) and contains hole no's, hole depths and all cu intersections

the fifth grid is a close up of the hgz (0.21Mt @ 11.65% Cu for 24,400t Cu) and includes all significant cu intersections as well as the cuurent drill hole locations


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## cosmick (20 February 2011)

WHEN WILL AVB EVER PICK UP IN SP AGAIN!!!!
this has been driving me crazy, im borderline broke because of it


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## happytown (21 February 2011)

cosmick said:


> WHEN WILL AVB EVER PICK UP IN SP AGAIN!!!!
> this has been driving me crazy, im borderline broke because of it




you posted on 02/12/10 



> i bought at 18c



yesterday the stock closed at .17

your investment at that point was down .01 or approx 5.5% and you post



> im borderline broke because of it



the sp is now .165, down approx 8.3% (from your purchase price)

are you now actually broke?

you posted on 05/01/11 that you 



> can wait the year when it might come close to $1



you have not posted any analysis or research on this thread that would indicate a $1 (or close) valuation or target

why do you think avanco might come close to $1 this year?


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## skc (21 February 2011)

happytown said:


> you posted on 02/12/10
> 
> yesterday the stock closed at .17
> 
> ...




I suppose if he had pre-spend his 600% profit... then he is entitled to say he's going broke...


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## happytown (21 February 2011)

skc said:


> I suppose if he had pre-spend his 600% profit... then he is entitled to say he's going broke...




particularly if he spent it all on a new aeron


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## cosmick (23 February 2011)

happytown said:


> you posted on 02/12/10
> 
> are you now actually broke?
> 
> ...





well when you have a lot of money tied up in shares that are not going up, its like not having the money liquidity to spend on everyday necessities!


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## 4thekids (3 March 2011)

Firstly thanks Happytown, by far and away the best post I have seen on any AVB thread on any site. 

I may not have posted here before but been a semi regular reader. Personally I like AVB and think the story will continue to develop throughout 2011, for that reason I hold plenty of them and will keep accumulating during this sell down.

What do people make of the latest announcement? Reading between the lines there is more to come. I look forward to the day a trading halt comes out pending announcement of drill results, as I thought the announcement this week with no halt was a solid one.  

4TK


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## happytown (4 March 2011)

cheers 4tk and welcome,

prefer posting on the avb thread on this forum rather then the other, primarily due to the ease of posting images here - the trade-off being that at times you are the only ghost in a ghost-town

will be posting some more info on avanco, possibly over the weekend, from the NI 43-101 reports on the rio verde and serra verde properties as well as some other info re the geology of the area as well as the current drilling, incl the recent results


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## warthogjump (28 March 2011)

cosmick said:


> WHEN WILL AVB EVER PICK UP IN SP AGAIN!!!!
> this has been driving me crazy, im borderline broke because of it





its alright man I have felt what you have felt before , everyone has

the worst thing you can do is sell now, so you have no choice to keep waiting

when the drill results come out the sp will sky rocket and you will recover your loss with a profit, so imo when the results are out, just sell and get rid of this stock because otherwise you're always going to be panicking when it drops  a few cents and too much panic is not good for a man


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## TheAbyss (14 April 2011)

Volume picked up nicely on this today leading into news from drilling results due in the near term.

High grade copper is topical at the moment and AVB seem to just keep finding more high grade CU so looking forward to the next results which are due this month.

In for a bit at .15.5 cents


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## topsy99 (15 April 2011)

Let's hope you are right. Leading merchant banks seem to be talking down commodities. Going against this trend would be a good strategy.
I have my buying set at 12 cents.  So each time it touches 12 cents I pick up more.
Lets hope I dont see 12 cents again.

Dont lose patience. Have bad experience with my patience. Recently owned Alkane and couldnt get over $1.05 with in 2 months of selling out they touched $2.60. I must be lead in the saddle bags.


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## cosmick (16 June 2011)

wat the hell is going on with AVB!!!
why is it going down the pooper!!!!!! (Crying...)
WHY! 
can someone really explain why?
cheers


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## STRAT (23 June 2011)

cosmick said:


> wat the hell is going on with AVB!!!
> why is it going down the pooper!!!!!! (Crying...)
> WHY!
> can someone really explain why?
> cheers



Gudday Cosmick.

Chart
AVB is in a gradual down trending trading range on light to moderate volume which could be deemed Par for the course after such a massive spike ( Sept 2010 ). 

At a critical point right now.
Back into the range or off the cliff.


General.
No news 
Down trending copper price
Down trending markets
General sell off all round.

All these contribute to a lower SP.

Like all things, your buy price determines your stress level.

Im still holding some AVBOB at 1c and not too stressed.

Yet!

In addition the pencil pushers that were the driving force behind the re rate have probably moved onto new start up projects. FA aint my thing but if you are interested in researching these guys, let me know and I will dig up a few names and tickers for you.

So wipe away those tears dude. Harden up as they say lol. This is a tough and cut throat game. If you end up loosing a few bucks the most important thing is to figure out why. Remember why and try not to do it a gain.


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## happytown (4 July 2011)

toph and 4thekids, here's the latest condensed version courtesy of happytown/flurnt


this is not the same company it was six months ago [conversation with management - tp]

on the seventh month anniversary (give or take a bit) of the commencement of the current drilling program, some brief thoughts on avanco

first, some rough statistics of completed holes (with further detail below) in the current drilling program (as of most recent ann 20/05/11):

approx  8.2% of drilling program completed (46 holes for 4,079.05m of 50,000m completed)
approx 52.2% of completed holes assays received (24 of 46 holes)
approx 88.0% of holes with assays received confirmed cu intersections (21 0f 24 holes)
approx 41.6% of holes with assays received resulting in greater than 5.0% cu intersections (10 of 24 holes)
approx 47.6% of holes with assays received confirming cu intersections resulting in greater than 5.0% cu intersections (10 of 21 holes) 
approx 23.8% of holes with assays received confirming cu intersections contain discrepancies (5 of 21 holes)

1. trial mining licence 

brazil is similar to australia, in that mining approvals are states concerns' unless issues arise that require federal/national government approval (eg environmental, national security, etc)

the rio verde property (where antas sth hgz, the subject of a trial mining licence application, is located) is currently only subject to state approvals (para state)

somewhat recently elections were held in brazil across both federal/national and state level legislatures

the federal/national government was re-elected, however there was a change of government at state level in the para state - to a government arguably more business friendly than its predecessor

nonetheless the usual political jockeying for jobs has been underway in earnest (incl and crucial in this discussion, at the state levels of the departmento nacional de producao mineral (dnpm)) resulting in the current state of inertia surrounding licensing approval in para state

management, whilst not communicating to shareholders publicly re the apparent delays, are working hard behind the scenes [applying pressure] and remain confident of the requisite approvals being granted in a timely manner [conversation with management]

in a nutshell, the recent change of government at state level is delaying the approval processes of all companies in para state, not just avanco

avanco's trial mining licence application patiently awaits the approval process to recommence

it is important to remember that mining is the principal source of revenue for para state (and further the largest fe mine in the universe and 5 of the 10 largest iocg deposits in the universe are located in para state and all within 100km of avanco's rio verde and serra verde properties)

2. jorc resource upgrade

although a jorc resource upgrade was alluded to by avanco in 2010 anns, as being expected toward the end of 2010, based on the 34-hole 2010 diamond core drilling program at the antas sth hgz, no work specifically toward this has or is currently being undertaken by avanco (with the exception of the current drilling program, which will obviously lead to resource upgrades at some point in time in the future)

ie there is no jorc resource upgrade overdue or expected anytime in the near future - avanco is concentrating on the current drilling program, indeed the institutional investors who ponied up the cash recently, did so on the proviso that avanco concentrate solely on the current 50,000m drilling program (such that even though they recognise the 'easy' money that can be made from mining the dso hgz ore, they want the focus to be the drilling program [conversation with management])  

however, the current jorc indicated and inferred resource (oxide and transitional) at antas sth stands at 7.977mt @ 0.83% cu for 66,100t cu, using 0.3% cu cut-off (6.254mt @ 0.71% cu indicated, 1.723mt @ 1.27% cu inferred), which incls the antas sth hgz, with a current jorc indicated and inferred resource of 0.21mt @ 11.65% Cu for 24,500t cu (0.089mt @ 12.72% cu indicated, 0.121mt @ 10.87% cu inferred) - the hgz extends over a strike length of 250m, with the overall antas sth cu oxide deposit strike length extending over 2,000m (see ann dated 12/01/09)

note the larger tonnage, lower grade cu cut-off jorc resource at antas sth (17.622mt @ 0.48% cu, using 0.1% cu cut-off) is being ignored for the purposes of this discussion for the following reasons - these are resources, not reserves (jorc reserves are economically mineable deposits, rather than simple in-situ deposits) and conservatism is being applied here, and in announcing the jorc resource avanco stated it was targeting a resource of 20mt @ +0.8% cu (oxide) (ann dated 12/01/09) and the xstrata deal uses a theoretical jorc resource (for the back-in) of 100mt @ 0.75% cu (see ann dated 21/03/11 footnote)

following on from the 2010 diamond core drilling program undertaken at the antas sth hgz, the hgz has been determined to extend to over 300m (see 2010 sep qrtly rep, dated 29/10/10)

results received so far in the current 25,000m antas sth drilling program have extended the hgz a further approx 75m to approx 375m (see ann dated 11/05/11)

the hgz has increased from the jorc resource 250m to the current 375m, an increase of 50% - a basic extrapolation would suggest a potential hgz resource currently standing at 0.315mt @ 11.65% cu for 36,750t cu (this however does not take into account the grades or the intersected lengths from the 2010 and current drilling programs), a simplistic and flawed approach, nonetheless suitable for the purposes of this discussion

the overall size of the oxide orebody at antas sth has also been increased due to the current drilling program (this however will not be incl in the guesstimate)  

potential current global rio verde resource (incl current jorc, extrapolated additional hgz non-jorc and historical non-jorc, non-ni 43-101 resource [for antas nth])

current jorc resource 7.977mt @ 0.83% cu for 66,100t cu (incl current hgz jorc resource of 24,500t cu) 
extrapolated additional non-jorc hgz 50% increase resource 0.105mt @ 11.65% cu for 12,250t cu
historic non-jorc, non-ni 43-101 resource at antas nth 5.07mt @ 0.8% cu & 0.24 g/t au for approx 40,500t cu & approx 39,000ozs au (based on noranda's 2000/2001 9-hole, 2,834.75m drilling program and barrick's 1999 3-hole, 494.2m drilling programs [see amec ni 43-101 tech report pp 6-1, 10-4, 10-6, 11-3, 11-6 - note the amec report states the au grades as 0.24 g/t and also 0.3 g/t, with this apparent discrepancy (possibly rounding up) the lower 0.24 g/t au is being used here])

for a potential current total in-situ non-jorc resource of approx 13.152mt @ 0.9% cu for 119,000t cu & 5.07mt @ 0.24 g/t au for approx 39,000ozs au [noting that it is non-jorc and a resource guesstimation not jorc reserve, ie in-situ guesstimation not mineable reserve]

3. recent deal with xstrata

put simply the recent deal with xstrata to pick up extra tenements adjoining (and consequently expanding) the rio verde property is a testament to managements deal-making abilities - a big plus

an additional 14km prospective for cu with the only costs to avanco being those associated with the drilling underway and to be undertaken on these additional tenements and the annual upkeep cost of the tenements (approx 2 - 4 reals per hectare per year) [conversation with management]

be aware that xstrata are not obliged to contribute anything financially toward these tenements (as they are now 100% avanco's responsibility), unless they choose to exercise their right (through an option) to 'back-in' to 70% of the properties the subject of this deal, and this is only if avanco "discover a copper resource with potential to support the production of 80,000 tonnes per annum of copper metal for a life-of-mine greater than 8 years", which avanco, in a footnote, compares to 100mt @ 0.75% cu (see ann dated 21/03/11, pp 2, 3) - cf this with supra, avanco's current jorc and non-jorc resources

if avanco discovers a cu resource, on these additional properties, capable of supporting, for eg, 60,000t cu for lom greater than 8 years, xstrata does not have a right to back-in 

the back-in targets are also a good indicator to avanco of the type of cu operations that xstrata would potentially consider mineable re a takeover scenario (70%, or 56,000t pa production cu with lom greater than 8 years)

avanco has allocated 5,000m of the current drilling program toward the rio verde extension properties that are subject to a potential 'back-in' option - it is highly unlikely that 5,000m of drilling will lead to a resource of 100mt @ 0.75% cu, ie, it will be some time before a resource of that size, if it is present, will be determined through drilling programs  

/contd


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## happytown (4 July 2011)

4. vale fe drilling

whilst the drilling has now been underway for almost 3 months, the drilling results will be released at vale's discretion (see ann dated 15/04/11, p1 and footnote p2)

a quick perusal of the vale website indicates it is not a company that releases regular drilling updates, it has many operations (indeed, as of several weeks ago, there was no indication anywhere on their site of the deal with avanco - at least no indication that could be located)

for avanco it is all about whether drilling proves up a measured and indicated resource (such that a measured and indicated resource will trigger royalty payments to avanco) 

as far as the vale deal is concerned, they are required by the end of august 2011, to have drilled at least 2,500m at trindade nth (where 5 rigs are currently drilling) and pay avanco us$600k for the second year of the option (see mar qrtly rep, dated 27/04/11, p 3)

the current level of drilling by vale is unknown beyond 5 rigs currently operating - how many metres are they drilling [scott thinks it may be 5,000m], how tight is the drill-spacing, is this merely exploratory, will it lead to a measured and indicated resource, or just an intial inferred or indicated and inferred, thus requiring further drilling to estimate a measured and indicated resource - don't forget vale has a potential 3 year option, we are only approaching the end of the first year    

5. current drilling program

the anns relating to the current 50,000m drilling program are:

24/11/10 - "major drilling program commenced"
31/01/11 - "dec 2010 quarterly report" (rio verde antas sth 5 holes completed, 1 hole aborted, 2 holes in progress, 2 rigs, no assays)
02/03/11 - "carajas copper exploration update" (rio verde antas sth 14 holes completed, 2 rigs, assays for first 4 holes; serra verde pedro 2 holes completed, 1 rig, no assays)
13/04/11 - "rio verde drilling expanded" (rio verde antas sth 3 rigs, 16 holes core at lab; rio verde extension agua boa 1 rig; serra verde pedro 1 rig)
14/04/11 - "serra verde copper project drilling update" (serra verde pedro 9 holes completed, 1 hole in progress, 2 rigs, 1 holes core at lab)
27/04/11 - "mar 2011 quarterly report" (rio verde anatas sth 24 holes completed, 3 holes in progress, 18 holes core at lab, 2 holes core in yard; rio verde capivara 2 holes completed, core at lab; rio verde extension agua boa 1 hole in progress; serra verde pedro 10 holes completed, 1 hole in progress, 9 holes core at lab, 1 holes core in yard)
11/05/11 - "rio verde project high grade zone open along strike" (rio verde antas sth 24 holes completed, 3 holes in progress, assays for further 11 holes, 7 holes core at lab, 2 holes core in yard)
20/05/11 - "new copper discovery at the serra verde project" (serra verde pedro 20 holes completed, 1 hole in progress, assays for first 9 holes, 3 holes NSI, 8 holes core at lab, 3 holes core in yard)

total completed holes to date:

rio verde antas sth - 24 [1,827.05m = av 76.1m]
rio verde capivara  - 2 [95.5m = av 47.8m]
serra verde pedro - 20 [2,156.5m = av 107.8m]

total - 46 [4,079.05m = av 107.8m]

total holes with assays received to date:

rio verde antas sth - 15 [15 of 15 holes confirmed cu intersections]
serra verde pedro - 9 [6 of 9 holes confirmed cu intersections]

total - 24 [21 of 24 holes confirmed cu intersections, ie approx 88% of holes drilled with assays received have confirmed cu intersected]

the total assay results reported thus far are:

ARVD-103, 60.4m, 2.1m @ 9.21% cu from 38.0m [incl 0.7m @ 23.72% cu from 39.4m]
ARVD-104, 44.1m, 18.7m @ 0.4% cu from 2.0m
ARVD-105, 70.0m, 11.0m @ 0.3% cu from 16.0m & 1.0m @ 18.83% cu from 57.4m
ARVD-106, 74.9m, 25.0m @ 0.2% cu from 9.0m, 5.0m @ 0.62% cu from 44.0m, 0.8m @ 18.98% cu from 62.0m & 1.2m @ 0.51% cu from 62.8m (originally ARVD-106 was aborted due to core loss and was replaced by ARVD-106A, which is now known as ARVD-106)
ARVD-107, 50.0m, 18.4m @ 0.58% cu from 0.6m & 13.0m @ 0.55% cu from 32.0m
ARVD-108, 74.1m, 27.35m @ 0.26% cu from 0.65m
ARVD-109, 106.3m, 41.2m @ 0.25% cu from 2.8m
ARVD-110, 141.6m, 14.2m @ 0.38% cu from 5.8m, 4.0m @ 0.54% cu from 51.0m, 0.6m @ 5.53% cu from 63.1m & 1.0m @ 1.28% cu from 104.0m
ARVD-111, 69.0m, 23.0m @ 0.56% cu from 22.0m [incl 5.05m @ 1.12% cu from 29.95m] & 6.0m @ 0.46% cu from 50.0m
ARVD-112, 70.5m, 27.6m @ 0.65% cu from 3.7m & 9.0m @ 0.99% cu from 41.0m
ARVD-113, 74.5m, 38.0m @ 1.53% cu from surface [incl 3.0m @ 2.82% cu from 20.0m]
ARVD-114, 71.8m, 6.5m @ 0.38% cu from 21.5m, 1.85m @ 28.17% cu from 59.7m & 2.45m @ 0.54% cu from 61.55m
ARVD-115, 61.2m, 6.0m @ 0.45% cu from 11.0m, 1.2m @ 0.44% cu from 20.0m & 0.8m @ 26.75% cu from 21.2m
ARVD-116, 101.3m, 2.75m @ 3.6% cu from 91.95m [incl 0.5m @ 14.31% cu from 91.95m]
ARVD-117, 60.35m, 3.9m @ 6.05% cu from 43.1m [incl 0.7m @ 17.63% cu from 43.1m] & 1.4m @ 1.87% cu from 93.3m

ASVD-01, 70.3m, 4.0m @ 0.16% cu from 20.0m
ASVD-02, 117.4m, 4.0m @ 1.31% cu from 72.95m, 0.8m @ 0.77% cu from 78.95m & 1.0m @ 0.79% cu from 82.0m
ASVD-03, 81.0m, 2.5m @ 2.86% cu from 46.25m
ASVD-04, 96.0m, 2.0m @ 0.35% cu from 11.0m
ASVD-05, 132.5m, 10.8m @ 1.84% cu from 100.2m [incl 3.15m @ 5.65% cu from 107.85m (incl 0.75m @ 18.94% cu from 108.85m)]
ASVD-06, 91.0m, 1.0m @ 7.28% cu from 60.0m, 1.9m @ 0.92% cu from 63.0m & 2.53m @ 1.38% cu from 72.07m [incl 0.93m @ 3.26% cu from 72.07m]
ASVD-07, 90.6m, NSI
ASVD-08, 124.8m, NSI
ASVD-09, 105.6m, NSI

some points of note about the current drilling:

a) after the very reliable 2010 34-hole diamond core drilling program contract had been completed (see ann dated 21/09/10 - "recently completed"), avanco 'let the drilling contractor go', who moved on to other work with their experienced crew and reliable rig/s, avanco began planning a 10,000m follow-up drilling program (see 2010 sep qrtly rep, dated 29/10/10), avanco were then approached by institutional investors, the $20m placement/funding was agreed to and carried out (see ann dated 08/11/10 - on the provisio stated above that the major drilling program was to commence asap [conversation with management]), and then the 50,000m drilling program commenced (see ann dated 24/11/10 - "drilling has commenced") - due to the rapid nature of the change in drilling program, the urgency of commencement, and the unavailability of the preferred drilling contractors, avanco had to do with drilling contractors who were not experienced with the antas sth hgz and with rigs that were not ideally suited to the program (resulting in a very slow start to the drilling program), thankfully avanco have now been able to harness their preferred drilling contractors, who have recently become available

b) the wet season was particularly severe - the local para state rag, o liberal, ran stories and editorials detailing the significant flooding in and around parauapebas (eg, "heavy rains cause flooding and damage in parauapebas", 12/03/11; "heavy rains punish parauapebas" - '… besides the urban areas, many rural communities were affected by the flooding …', 17/03/11)

c) the recent NSR(no significant result)/NSI(no significant intercept)'s recorded at serra verde (ASVD-07 - ASVD-09) are not uncommon during exploratory drilling, indeed both avanco's 2008 and 2010 drilling programs returned NSI's (eg 2 of 34 holes drilled in the 2010 antas sth hgz drilling program were reported as 'no significant value' (see sep 2010 qrtly rep, p6, dated 29/10/10), and the 2008 rc/diamond core programs at antas sth reported at least 12 NSI's)

d) the high grade intercepts are continuing and being encountered outside the current hgz at rio verde antas sth, as well as at the new serra verde pedro copper discovery:

1.85m @ 28.17% cu from 59.7m (ARVD-114, hgz extension)
0.8m @ 26.75% cu from 21.2m (ARVD-115, hgz extension)
0.7m @ 23.72% cu from 39.4m (ARVD-103, hgz)
0.8m @ 18.98% cu from 62.0m (ARVD-106, hgz)
0.75m @ 18.94% cu from 108.85m (ASVD-05, new potential hgz serra verde pedro discovery)
1.0m @ 18.83% cu from 57.4m (ARVD-105, hgz)
0.7m @ 17.63% cu from 43.1m (ARVD-117, hgz extension)
0.5m @ 14.31% cu from 91.95m (ARVD-116, hgz extension)
1.0m @ 7.28% cu from 60.0m (ASVD-06, new potential hgz serra verde pedro discovery)
0.6m @ 5.53% cu from 63.1m (ARVD-110, potential new hgz at antas sth) 

10 of 24 holes (approx 41.6%) with assays reported resulting in intersections greater than 5.0% cu

/cont'd


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## happytown (4 July 2011)

there have been some discrepancies re the initial assessment of core coming out of the ground v assay results returned from the lab, as follows (serra verde pedro holes):

ASVD-02 reported as intersecting "7.23m of primary copper sulphide (chalcopyrite) from 72.87m and a further 0.75m of primary copper sulphide (chalcopyrite) from 90.45m" (see ann dated 02/03/11, p1 and 14/04/11, p1 - "0.65m of mineralisation from 90.45m")

ASVD-02 assay results from lab reported as 4.0m @ 1.31% cu from 72.95m, 0.8m @ 0.77% cu from 78.95m & 1.0m @ 0.79% cu from 82.0m (see ann dated 20/05/11, p 3) - no assay results reported from 90.45m

ASVD-05 reported as "intersected the mineralised zone (disseminated and semi-massive sulphides) over 13.95m and is terminated by 0.8m of semi-massive sulphide - chalcopyrite" (see ann dated 14/04/11, p1)

ASVD-05 assay results from lab reported as 10.8m @ 1.84% cu from 100.2m [incl 3.15m @ 5.65% cu from 107.85m (incl 0.75m @ 18.94% cu from 108.85m)] (see ann dated 20/05/11, p3) - the 13.95m appears to be the 10.8m intersection plus the 3.15m higher grade intersection included in the 10.8m, ie the true intersection (10.8m) had been originally overstated by approx 29%

further there have been some discrepancies reported in the assay results, as follows (rio verde antas sth holes):

ARVD-103 assays reported as 2.1m @ 9.21% cu from 38.0m (see ann dated 02/03/11, pp 1,2 & 7 & 2011 mar qrtly rep, p6, dated 27/04/11), but also reported as 2.1m @ 9.67% cu from 38.0m (see 2011 mar qrtly rep, pp 1 & 2, dated 27/04/11) - note the 2011 mar qrtly rep reports it as both 9.21% & 9.67% cu

ARVD-111 assays reported as incl 23.0m @ 0.56% cu from 22.0 - 55.0m, ie 33.0m (see ann dated 11/05/11, p4)

ARVD-117 assays reported as 3.9m @ 6.05% cu from 43.10m [incl 0.7m @ 17.63% cu from 43.10m] & 1.40m @ 1.87% cu from 93.30m (see ann dated 11/05/11, p5), yet the hole was reported as drilled to a depth of 60.35m (see anns dated 27/04/11 mar 2011 qrtly rep, p6 & 11/05/11, p5), ie cu intersection reported approx 33m beyond eoh

out of 21 holes with assays reported so far confirming cu intersections, 5 holes (or approx 23.8%) have apparent discrepancies (which may seem minor), management needs to eliminate this sloppiness [note, there also appear to be discrepancies as between drilling details reported in avanco's 2007 prospectus (as well a recent avanco ann) and the historic drilling details as reported in the amec 2006 ni 43-101 technical report on the rio verde and serra verde properties, which list all the details of the historic holes at rio and serra]   

now looking at the drilling targets:

a) capivara - 2 shallow scout holes have been drilled in the current program testing "outcropping mineralisation", with both identifying "near surface mineralisation"  (see ann dated 11/05/11, p2), with ACAD-01 drilled to a depth of 44.85m and ACAD-02 (10m W) drilled to a depth of 50.65m (see 2011 mar qrtly rep, p7, dated 27/05/11)

both barrick and noranda drilled 1 hole each at capivara (approx 250-300m NW and SW of avanco's recent holes - barrick's RVD-14 (NW) drilled to a depth of 206.85m and noranda's  NRV-01-15 (SW) drilled to a depth of 430.15m, with both holes returning NSI (see amec tech report pp11-3 & 11-6)

madalosso (that would be antonio, you'll find him listed on the front of avanco's anns under directors/officers) in a 2000 internal barrick document described capivara as "defined by a massive strongly oxidized cu-au vein that outcropped, and also by a strong airborne tem anomaly in the vicinity" - by the time amec visited capivara in 2005/2006 "the vein was illegally extracted by garimpeiros", whilst "the trench that was left behind (now flooded) measures approximately 8m by 3m", however "a small stockpile of malachite-chrysocolla rich vein material was left behind" (amec tech rep, p9-1), a picture showing this stockpile looks like a giant sneezed all over the ground (picture, p9-2 - see 1st pic below)

an outcrop (picture - see 2nd pic below) at one end of the trench described by amec as "hydrothermally-altered metabasalts with thin (2cm to 4cm thick) veins of chalcocite", was rock-chip sampled with the result 2.45% cu and 0.56ppm au (amec tech report, pp 9-2 & 9-3) - the amec mineralised outcrop is reported as being approx 30 and 40m W and 42m S of the recently drilled avanco holes (see amec tech report, p14-2)

b) drilling at depth below the hgz - some of this drilling (at up to 300m depth) will be targeting (from the hgz) a hill next to the hgz (but not part of the hgz) which covers an area of approx 2.5 sq km, as management believe it to be structurally significant and a possible source of the shallower antas sth orebody  [conversation with management] - the deepest hole drilled in the 2010 hgz drilling program was only to a downhole depth of 82.7m (ARVD-072)

as far as historical holes drilled at antas sth, noranda drilled 5 holes (diamond core) and barrack drilled 11 holes (6 diamond core, 5 rc), with the closest to the current hgz being noranda's NRV-00-03, which after a change of azimuth became NRV-00-04, and barrick's RVD-08 and RVD-09

the three historical holes were drilled to downhole depths of between 196.35m and 287.0m

NRV-00-04 was drilled to a depth of 196.35m (3m @ 0.48% cu & 0.83 g/t au from 51.5m & 1.05m @ 1.37% cu & 0.39 g/t au from 92.15m) and is approx 6m W and 35m S of ARVD-082 and approx 19m E and 24m S of ARVD-086 [incl 1.0m @ 23.6% cu from 58.0m] 

RVD-08 was drilled to a depth of 287.0m (17.24m @ 0.42% cu from 55.0m [incl 1.0m @ 1.44% cu from 62.37m] & 0.95m @ 1.8% cu & 0.35 g/t au from 98.85m) and is approx 6m E and 26m S of ARVD-123 (awaiting assays), approx 6m E and 46m S of ARVD-125 (awaiting assays), approx 39m W and 1m S of ARVD-117 [incl 0.7m @ 17.63% cu from 43.1m] and approx 39m W and 11m S of ARVD-115 [incl 0.8m @ 26.75% cu from 21.2m] 

RVD-09 was drilled to a depth of 217.3m (34.8m @ 0.28% cu from 4.9m) and is approx 76m W and 5m S of ARVD-116 [incl 0.5m @ 14.31% cu from 91.95m] and approx 76m W and 15m S of ARVD-114 [1.85m @ 28.17% cu from 59.7m]

c) ongoing drilling at the hgz - the results from ARVD-123 and ARVD-125 will be crucial for at least 2 reasons, if they come back with high-grade cu intersections it will increase the hgz orebody length to the NW from the current extension provided by ARVD-115 and ARVD-117, and further, beyond ARVD-123 and ARVD-125 to the NW (and recognising the narrow nature of the hgz exposed by avanco's tightly spaced drilling) there is potentially several hundred metres of potential NW-trending possible hgz as yet to be tested by drilling


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## happytown (4 July 2011)

d) iocg targets

i) clovis - madalosso (supra), again in the 2000 internal barrick document "suggested that the clovis [one of the targets for the current drilling program] showing at rio verde, which occurs within a magnetite-rich breccia zone (small breccia pipe) that cuts a mineralized post-tectonic granite is an olympic dam-type iocg deposit and is similar to one of the deposits at sossego" (amec tech report p 8-1)

10 historic diamond core holes were drilled at clovis (7 holes for 1,712.8m by noranda and 3 holes for 727.6m by barrick), with 3 holes recording NSI

the holes recording cu intersections were:

RVD-04 (b), 237.5m, 13.85m @ 0.76% cu from 10.5m [incl 1.0m @ 4.5% cu from 21.3m] & 22.02m @ 1.13% cu from 75.08m [incl 0.75m @ 13.6% cu & 2.78 g/t au from 83.94m]
NRV-01-26 (n), 147.3m, 1.3m @ 2.4% cu & 0.34 g/t au from 56.8m
NRV-01-13 (n), 261.95m, 22.15m @ 0.51% cu from 25m & 24.8m @ 0.59% cu from 51.7m
NRV-01-24 (n), 250.1m, 3.5m @ 1.23% cu from 117.5m
NRV-01-22 (n), 300.4m, 23m @ 0.49% cu from 8.0m
RVD-15 (b), 344.35m, 0.9m @ 1.4% cu & 0.1 g/t au from 243.85m

and approx 2km W, NRV-01-28 (n), 224.55m, 6.5m @ 1.05% cu from 137.5m (see amec tech report, pp 10-4, 10-6, 11-3, 11-6)

interestingly no holes have been drilled in the classic NW-SE antas sth hgz trend aligning with RVD-04 [incl 0.75m @ 13.6% cu] 

ii) serra verde - as previously stated, inv metals (who have a jv with teck cominco on properties adjoining the northern border of avanco's serra verde property) described the serra verde historic garimpo open pit as an io(poor)cgmo deposit (the only known one of its kind in carajas), which tend to be relatively small in tonnage though high in grade, and that formed in association with large-tonnage, low-grade io(rich)cg mineralisation (see inv metals ni 43-101 technical report on rio novo property, dated 27/10/10, p 23)

the garimpo pit (see 1st pic), aka, valdomiro garimpo, 'historical mining commenced in the gold-enriched supergene zone on top of a massive sulfide lens … reported in 2005 that the massive sulfide lens measured 20m by 30m by 6m … reported that during a reconnaissance study conducted in 2001, that there were in fact two 20 to 30m long lenses, the current size of the garimpo (now idle) measures approx 170m long by 30m in width … depth is estimated to be 50 to 60m … ground tem conducted by barrick over the garimpo indicates the presence of a strong conductor approximately 150m to 200m below surface; however the limited amount of drilling in the area did not intersect massive sulfides. it is possible that the plunge component of the lens was not considered when the drill program was laid out. madalosso [in 2000] collected sixteen channel samples averaging 1m long in the northern (deepest) area of the pit … the impression of a southeasterly plunge component to the lens' (see amec tech report, pp 9-6, 9-7)

the 16 channel samples (of approx 1m lengths - see 2nd pic) results were:

approx 1m @ 112.5 g/t au, 2.35% cu & 69,000ppm mo
approx 1m @ 1.8 g/t au & 1.14% cu
approx 1 m @ 42.5 g/t au & 6.6% cu
approx 1m @ 0.5 g/t au & 28.5% cu
approx 1m @ 110 g/t au & 8.4% cu - in total reported as 4.3m @ 48.4 g/t au & 8.92% cu

approx 1m @ 12.2 g/t au & 16.95% cu
approx 1m @ 2.1 g/t au & 13.5% cu
approx 1m @ 1.0 g/t au & 1.14% cu
approx 1m @ 25.9% cu & 6 g/t ag
approx 1m @ 0.4 g/t au & 26.4% cu - in total reported as 4.5m @ 4.1 g/t au & 16.47% cu

approx 1m @ 0.5 g/t au & 24.5% cu
approx 1m @ 29.45 g/t au & 17.9% cu
approx 1m @ 0.5 g/t au & 23.35% cu
approx 1m @ 0.2 g/t au & 25.9% cu
approx 1m @ 45.6 g/t au & 7.53% cu
approx 1m @ 0.3 g/t au & 24.49% cu - in total reported as 6.5m @ 10.9 g/t au & 21.1% cu (see amec tech report, p 9-9) 

barrick carried out a 5-hole drilling program in the area of the garimpo pit (see 3rd pic) with the following results:

SVD-01, 209.6m, 29.8m @ 0.47% cu & 0.2 g/t au from 109.38m [incl 20.5m @ 0.61% cu & 0.14 g/t au from 109.38m] & 31.87m @ 0.33% cu & 0.2 g/t au from 150.8m [incl 14.27m @ 0.44% cu & 0.4 g/t au from 150.8m]
SVD-02, 165.86m, 24.9m @ 0.43% cu from 4.7m [incl 12.5m @ 0.97% cu from 4.7m] & 38.63m @ 0.16% cu from 80.24m [incl 5.16m @ 0.67% cu from 80.24m]
SVD-03, 231.5m, 20.94m @ 0.26% cu & 0.1 g/t au from 27.24m, 9.57m @ 0.38% cu & 0.4 g/t au from 125.75m, 13.01m @ 0.22% cu from 191.49m & 14.44m @ 0.26% cu from 212.76m
SVD-04, 250.5m, 6.75m @ 0.14% cu from 2.13m, 6.9m @ 0.39% cu from 120.6m & 7.88m @ 0.13% cu from 154.0m
SVD-05, 391.5m, 20.05m @ 0.17% cu & 0.1 g/t au from 296.6m (see amec report pp 10-6, 11-7)


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## happytown (4 July 2011)

e) antas nth - likely to be drilled by rc rigs due to previous avanco diamond core drilling in 2008 having to be suspended due to core recovery failure

as discussed supra, noranda and barrick undertook drilling at antas nth, with noranda completing a non-compliant resource estimate, at least 3 stringer veins were intersected (see 1st pic below), with a section drawn through 7800E showing the main stringer 'a' having a true thickness of approx 40m and being thought to be open at depth (see amec tech report, pp 9-5, 9-6 - see 2nd pic below)

the historic drill results from antas nth are:

RVD-02 (b), 147.3m, 21.41m @ 1.5% cu & 0.39 g/t au from 125.89m (to eoh)
RVD-06 (b), 145.25m, 21.23m @ 0.65% cu from 3.5m [incl 4.53m @ 2.1% cu from 20.2m]
RVD-11 (b), 201.65m, 50.72m @ 1.42% cu & 0.48 g/t au from 73.85m [incl 0.6m @ 11.3% cu & 1.86 g/t au from 118.29m]
RVD-02-A (n), 132.15m, 75.81m @ 0.9% cu & 0.47 g/t au from 125.89m - note this noranda hole is a continuation of the barrick hole RVD-02
NRV-00-01 (n), 348.2m, 55.34m @ 0.68% cu & 0.16 g/t au from 106.2m [incl 18.75m @ 1.03% cu & 0.2 g/t au from 106.2m]
NRV-00-02 (n), 288.75m, 28.79m @ 1.01% cu & 0.21 g/t au from 158.21m
NRV-00-05 (n), 381.5m, 11.94m @ 0.71% cu & 0.11 g/t au from 228.46m
NRV-00-08 (n), 434.75m, 4.39m @ 1.58% cu & 0.77 g/t au from 92.77m
NRV-01-11 (n), 442.5m, 6.01m @ 1.43% cu & 0.14 g/t au from 360.65m
NRV-01-14 (n), 300.6m, 11.07m @ 1.0% cu & 0.5 g/t au from 164.43m
NRV-01-23 (n), 219.2m, 1.5m @ 2.47% cu & 0.88 g/t au from 14.75m
NRV-01-25 (n), 287.1m, 9.6m @ 0.79% cu & 0.04 g/t au from 175.9m (see amec tech report, pp 10-4, 10-6, 11-3, 11-6)

note the high-grade intersection in RVD-11 of 0.6m @ 11.3% cu from 118.29m

f) gold intersections at antas sth

from the historic drilling at antas sth carried out by noranda and barrick, one barrick hole had a significant au grade intersection, RVD-07 (located in the far NW extremity of the current antas sth orebody - not the hgz)

from the 16 holes in total drilled at antas sth by barrick and noranda, 9 returned au intersections, being (and not incl the cu intersections):

RVD-01 (b), 214.0m, 4.12m @ 0.22 g/t au from 105.14m
RVP-03 (b), 1.0m @ 1.32 g/t au from 20m & 1.0m @ 1.32 g/t au from 23m - note the P indicates rc hole 
RVD-07 (b), 182.7m, 1.0m @ 9.44 g/t au from 17.4m
RVD-08 (b), 287.0m, 0.95m @ 0.35 g/t au from 98.85m
NRV-00-04 (n), 196.35m, 3.0m @ 0.83 g/t au from 51.5m & 1.05m @ 0.39 g/t au from 92.15m
NRV-00-06 (n), 306.25m, 5.3m @ 0.35 g/t au from 85.9m & 9.9m @ 0.05 g/t au from 118.3m
NRV-00-09 (n), 309.75m, 52m @ 0.06 g/t au from surface [incl 28.75m @ 0.08 g/t au from surface]
NRV-01-10 (n), 211.0m, 10.05m @ 0.1 g/t au from 115.9m
NRV-01-16 (n), 339.7m, 1.3m @ 0.02 g/t au from 95.05m (see amec tech report, pp 10-4, 10-6, 11-3, 11-6)

all historic holes at rio verde are seen in 3rd pic below


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## happytown (4 July 2011)

6) brief comparisons of relevant iocg deposits, by taking a brief look at olympic dam, cristilano and sossego

olympic dam - initially 9 holes were drilled in 1976 (RD1, RD3-10), with the results being (not incl the depth of intersections):

RD1 - 38m @ 1.05% cu
RD3 - NSI
RD4 - NSI
RD5 - 92m @ 1.01% cu
RD6 - NSI
RD7 - NSI
RD8 - 14m @ 1.2% cu
RD9 - 94m @ 0.38% cu
RD10 - 170m @ 2.12% cu (see asx-listed tasman resources preso, "the vulcan project", dated 02/05/11)

cristalino - approx 20km S of rio verde

'mineralisation is concentrated in a NW-SE trending, sinsitral transpressive zone of shearing over  a drilled length of 2,200m and thickness ranging from 10s of metres to 500m. the shear zone is several hundreds of metres in width and is a splay of the carajas fault. the ore zone is generally brecciated and is found in the volcanics below the iron formation and in the lower sections of the iron formation itself. in general the iron formation forms the upper limit to ore and may have acted as a capping … two styles of mineralisation:  (i) 60% of which is crosscutting stockwork veins and veinlets, and (ii) 40% breccia ore where the breccia fragments are surrounded by sulphide veins and a sulphide matrix … principal sulphides are chalcopyrite and pyrite in a 2:1 to 3:1 ratio. the copper was introduced after the magnetite and amphibolite alteration, although the highest grades are associated with the amphibole zones … grid geochemistry and geophysics from 1984-87 led to 2 anomalies being drilled in 1988 with some 13 holes in two prospects. the second phase of work was commenced in 1997-98 with more grid mapping, geochemistry and geophysics, culminating in a drill intersection of 38m @ 1.4% cu, 0.25 g/t au between 76 and 114m depth … according to cvrd, the reserves amount to 261mt @ 0.73% cu' (see porter geoconsultancy website, iocg 07, iron oxide copper gold in south america, 4 to 13 june 2007, international study tour)

sossego - approx 40km W of cristalino

'mineralisation is hosted along a regional WNW-ESE striking shear zone … ore is located in two adjacent centres, sossego hill (the sossego-curral zones) and the larger sequeirinho (the pista-sequeirinho-baiano zones) which has a length of 1.6km and thickness of 150 to 200 m in its central section … dominant sulphides are chalcopyrite with subsidiary siegenite and millerite, and minor pyrrohtite and pyrite in the sequeirinho orebodies, although pyrite is relatively abundant in the sossoego hill bodies … at the commencement of mining in 2004, reserves were quoted by cvrd as 250mt @ 1.0% cu (see porter geoconsultancy website, iocg 07, iron oxide copper gold in south america, 4 to 13 june 2007, international study tour)

7. suggested reading (and this represents a small portion) for those interested in some papers on sera verde, the immediate region surrounding avanco's properties and vale's history in the immediate region:

"mineralization and hydrothermal alteration related to the cupro-auriferous sera verde deposit, carajas mineral province", reis & villas, revista brasileira de geocienias, vol 32(1) 2002, pp 69-86 (portugese, requires translation, free translation tools on net - yes this is about serra verde)
"palladium and platinum minerals form the serra pelada au-pd-pt deposit, carajas mineral province, northern brazil", cabral, lehman, kwitko-ribeiro & costa, the canadian mineralogist, vol 40 2002, pp 1,451 - 1,463 
"predicting the impacts of sera leste: a case study in companhia vale do rio doce's influence on southern para", hayes, spring 2007 (details briefly vale's history in the curionopolis-parauapebas region)
"radar, geologic, airborne gamma ray and landsat tm digital data intergration for geological mapping of the estrela granite complex - para (pa)", inpe-9858-tdi/868, sao jose dos campos, 2003 (149pp portugese, requires translation)
"spacial and temporal zoning of hydrothermal alteration and mineralization in the sossego iron oxide-copper-gold deposit, carajas mineral province, brazil: paragenesis and stable isotope constraints", monteiro, xavier, de carvalho, hitzman, johnson, filho & torresi, miner deposita, vol 43 2008, pp 129 - 159

cheers


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## misterS (4 July 2011)

Flurnt/happytown -  Seeing that information gathered together and placed in historical context with some interesting observations was great to read. Thanks for generously sharing your work.

cheers


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## happytown (5 July 2011)

cheers misterS,

the carajas is such an exploration rich environment

here are some pics from the crpm

in the 1st pic, 220 is the serra verde historic open pit, with the red splotch being the estrella granite complex

the 2nd and 3rd pics are cross-sections indicated on the 1st pic by the straight black line running from top to bottom

in the 4th and 5th pics, the black square is the square comprising of the first pic (which comprises all of rio verde and the new rio verde extension as well as serra verde - by memory trindade nth is just out of the 1st pic)

cheers


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## happytown (5 July 2011)

for some reason the 1st pic in the above post will not upload

few more pics,

geological map of the carajas,

some landsat images,

n-s schematic of the serra verde deposit,

surrounding area geology of the serra verde deposit

cheers


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## enrich (11 July 2011)

Thankyou for sharing your wealth of knowledge Happytown a lot of it goes over my head but what i get out of it is be patient and rewards will come here with AVB Once again thankyou and WELL DONE


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## Donga (15 July 2011)

enrich said:


> Thankyou for sharing your wealth of knowledge Happytown a lot of it goes over my head but what i get out of it is be patient and rewards will come here with AVB Once again thankyou and WELL DONE




Many thanks Happytown - wonderful effort. Recall you from nearly two years back and did very well from your coverage of the stock at the time, think it was PRU. Rarely visit ASF these days, this review has made it across to the forum I now play with (as Upmarket) and these posts of yours on AVB were referenced, may have to get in the habit of ASF again.

Good to see you firing on all cylinders with AVB and thanks again.


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## redned71 (18 July 2011)

G'day happytown.

Just wanted to add my thanks for what is the best & most informative post I think I've ever read online. Much appreciated.

SWC posted the link on HC is how I found this. So I've now joined this forum. If this is an exampole of the quality of posters here, it must be a great site.

Looking forward to an interesting time ahead.

cheers,

ned.


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## happytown (18 July 2011)

cheers enrich,

here's a couple of books i have found interesting in gaining a better understanding of exploration activities:

field geophysics (john milsom);
geological methods in mineral exploration and mining (roger marjoribanks);
geological structures and maps (richard lisle);
introduction to mineral exploration (moon, whateley & evans)

and there is always

mining valuation handbook (victor rudenno)

generally speaking, feel free to ask any questions

cheers donga (upmarket, sign of the road travelled i take it)

cheers redned

and no i am not an example of the quality of posters here, there are others far more knowledgeable and generous with their posting

just a heads-up with posting over here, the mods here would delete a large number of posts on the hc thread if they were posted here (for low-content, ramping, unsubstantiated price targets, etc)

the upside of that is you don't have to sift a lot, the downside is sometimes this thread resembles a ghost town

i post on both forums, with the lengthier posts and pics over here

and cheers for posting a link to here swc

with the latest results released last week am currently updating info to post here, as well as an updated drill hole location grid for the antas sth deep drilling showing the historic holes as well (posted some drill hole location grids at post 72 after i found the co's lacking somewhat)

cheers


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## Ding (24 September 2011)

Gday, 

 I am a AVB holder and i consider myself patient but I am getting a little worried about the worlds markets and the risk that AVB will fold in the near future. Now is a great time to buy or a time to get out and cut my losses???????


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## 4thekids (19 October 2011)

Ding said:


> Gday,
> 
> I am a AVB holder and i consider myself patient but I am getting a little worried about the worlds markets and the risk that AVB will fold in the near future. Now is a great time to buy or a time to get out and cut my losses???????




I hope you bought at the low!!

4TK


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## warthogjump (24 November 2011)

Ding said:


> Gday,
> 
> I am a AVB holder and i consider myself patient but I am getting a little worried about the worlds markets and the risk that AVB will fold in the near future. Now is a great time to buy or a time to get out and cut my losses???????




im worried about the world markets too, but if anything can bounce, it's avb...


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## Kalenn (6 March 2013)

Are people still reading this thread?


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## happytown (1 April 2013)

There is certainly the appearance that Avanco's announcements to the market regarding the Trindade North property, the subject of a potential deal with Vale which the Company states could be worth up to us$10-40m (for a company with a mc of approx $80m), have not told the full story, particularly insofar as information publicly available on Brazilian government websites

At least the following information are known knowns (however not through reading Avanco announcements):

1. on or about 01/08/12 the dnpm issued avb mineracao ltda with a non-approval of the final exploration report for trindade north;
2. on or about 09/08/12 avb mineracao ltda commenced legal proceedings against the dnpm;
3. said legal proceedings were subsequently terminated by the judge;
4. on or about 20/03/13 the dnpm issued avb mineracao ltda with a rejection of the final exploration report for trindade north

the above must have some impact on the Vale deal for the following reasons:

1. avanco ann dated 31/07/12 states vale have invited avanco to discuss the option agreement - note first avanco ann re vale or trindade north in 8 months;
2. vale failed to pay the us$1m option payment due on 12/08/12;
3. language used in avanco anns since refer only to avanco and vale being committed to continuing to negotiate an acceptable outcome;
4. the original us$10-40m deal was premised on the delineation of a resource in the measured and indicated categories yet the rejection of the final exploration report was due to the dnpm determining the lack of exisitence of a deposit being demonstrated (note, a deposit is defined as an individual mass of mineral substance or fossil, either outcropping from the surface or undergoing underground, of economic value) 

perhaps the company will provide an update to the market re trindade north this week

cheers


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## ddcc (1 April 2013)

Happytown
Really interesting post thanks for sharing.

IF your information is correct.
The AVB anns  re Trindale North temaments  would apear to be flaky and misleading.

Looking back over your posts over past few years indicate you have researched AVB thouroughly, and  have talked to TP at various times, so i presume you would be reasonably informed with reading between the lines and AVB present position.

Do you mind me asking what is your take on the obvious lack fo clarity here, and what appears to be  AVBs stuggling present  position, particularly regarding SP and current negative sentiment re AVB generally.

ddcc


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## Kalenn (3 April 2013)

MOI signed between AVB and Para state for smelter.


http://noticias.orm.com.br/noticia....ação+do+cobre+no+pará+é+assinado#.UVtkupNmh8E

Google translation below:
*Agreement intention of vertical copper in ParÃ¡ is signed
A copper smelter should be installed in the region of CurionÃ³polis, southeastern state*

27/03/2013 - 23:18 - Para
An important step in the development of mineral ParÃ¡ was given on the afternoon of Wednesday (27), when the Memorandum of Agreement for Technical and Scientific Cooperation for vertical copper in the state was signed by the Secretary of State for Industry, Trade and Mining (SEICOM) and Avanco mining company, headquartered in Rio de Janeiro.

The document provides for the 'development of studies, projects and activities for technical knowledge on the viability of options for vertical installation to blister copper plant in the state of Para'.



According to the Director of Advancement, Luis Mauricio de Azevedo Ferraiuoli, to date, more than $ 50 million has been invested in research to verify the possibility of creating mines in South and Southeast of ParÃ¡ Also according to Luis Azevedo, a copper mine should be installed in CurionÃ³polis region, southeast of the state. The contract shall be capable of generating 12 tons of fine copper and approximately 40,000 tonnes of copper concentrate by the year 2015. The production should be started in the next year if all licenses that are in process, such as environmental, are released.

According to the State Secretary of Industry, Commerce and Mining, David Leal, the agreement will add value to the activity to the state. 'No country develops exporting its raw materials, so this project is important to the state as we increase the region's economic flow generating jobs, "he said.



Only the first phase of the project, covering 16 000 hectares of mine, at least 200 direct jobs will be created in 20 years. In the construction of the mine, 600 people will be hired in two years, said Azevedo.

'We expect to begin construction of the mine in the last quarter of 2013 and we should take a year and a half to operation. And if all goes well and we operate in a year. Everything will depend on the supply of equipment, "he said.

Director of Advancement yet complete: "Brazil is a country that imports and exports fine copper concentrate. If we can verticalize in the state, the entire production will be for the domestic market. Of course, everything should be supported by fiscal policy to stay competitive, but the main thing is that a number of industries will benefit from by-products of copper ', he concludes.


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## happytown (3 April 2013)

here is a screenshot of the dnpm 'file' on the trindade north property that shows the dnpm 'events' from 01/08/12 onwards:





[note - the above has been manipulated insofar as compressing the 2 columns together]

in the above, it is important to note 3 things:

1. the use of 'departmental' phrasing;
2. the use of abbreviations;
3. it is in portuguese

the event description dated 01/08/12 reads:

318 - AUT PESQ/RELATORIO PESQ NAO APV ART 30 II CM PUB

318 refers to the event description code
AUT PESQ refers to the licensing phase of the property at the time of the event, here AUT PESQ means AUTORIZAÃ‡ÃƒO DE PESQUISA, which roughly translates to search authorisation, which actually means exploration authorisation - thus at the time of this event, 01/08/12, the dnpm licensing phase for the trindade north property was exploration authorisation
RELATORIO PESQ NAO APV ART 30 II CM PUB, means the final exploration report was not approved courtesy of article 30 item 2 of the brazilian mining code, which reads as follows:




note article 22 item v reads as follows:




[above information re the dnpm 'file' can be confirmed by accessing the sistemas portal at the dnpm website]

as mentioned in previous post, avb mineracao ltda, titleholder of trindade north, commenced legal proceedings on or about 09/08/12 against the dnpm, in the ninth federal court, as follows:




the attorney mentioned, cabral, works for ffa legal, of which luis azevado is a partner (recently made a director of avanco, see ann dated 17/12/12)

the legal proceedings had several hearing dates including on 27/08/12, where an extract even mentions Vale carrying out the exploration because it was an extension of a mineralised structure on their own property and having the priority to negotiate the reserves, as follows:




the legal proceedings were subsequently terminated by the judge under article 267 item viii of the brazilian civil procedure code, due to avb mineracao ltda withdrawing the action

[the above information re the legal action can be confirmed by accessing the brazilian justice dept/ministry website, 'jusbrasil']


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## happytown (3 April 2013)

further, on the dnpm 'file' on 20/03/13 the event reads:

319 - AUT PESQ/RELATORIO PESQ ARQ ART 30 II CM PUBL, which refers to the the final exploration report being 'rejected', as follows:




[note, the 'rejection' comes from friere, johnson, friere & martins, brazilian mining code, juridica editora, 2008, (containing portuguese and an english translation of the relevant legislation) as the term arquivamento, by itself, translates to archiving/filing, however, it is clear that the meaning is rejection and the result is that the property becomes free - note rejection is arguably the worst possible outcome of the four decisions the dnpm can issue regarding the final exploration report]

the importance of the final exploration report and its approval or otherwise is not known as to the vale deal 

however, an approval of the final exploration report allows the titleholder to proceed to the requerimento de lavra licensing phase, the application for mining concession/lease phase

piecing together the above information, the following has occurred:

03/06/11 - avanco (through its subsidiary) submitted the final exploration report
31/07/11 - avanco first informed the market of its submitting the report
01/08/12 - the dnpm issued a non-approval of the report
09/08/12 - avanco (through its subsidiary) commmenced legal proceedings against the dnpm
27/08/12 - likely next day of hearing legal proceeding - avanco arguing?
05/09/12 - likely next day of hearing legal proceeding - dnpm presenting defence [note dnpm file event 04/09/12 defesa apresentada], here if the first mention of the termination process re art 267
10/09/12 - dnpm event documento diverso protocolizado, basically documents docketed/lodged/submitted/recorded, ie avanco submitting paperwork to the dnpm
12/09/12 - likely next day of hearing legal proceeding, all about article 267 termination
23/01/13 - likely final day of hearing legal proceeding
04/03/13 - dnpm event torna s efeito desp nao apv rel, ie torna sem efeito despacho de nao aprovoao do relatorio de pesquisa - makes no effect no approval of the dispatch survey report
20/03/13 - the dnpm issued a rejection of the report
22/03/13 - dnpm event documents submitted by avanco
25/03/13 - dnpm event documents submitted by avanco
28/03/13 - dnpm event recurso protocolizado - recurso can mean, amongst other meanings, appeal or resource, both somewhat applicabale here

note the 10/09/12 dnpm event was originally recorded as a REQ LAV/ not an AUT/PESQ (see explanation of requerimento de lavra above) indicating avanco were pushing ahead with an application for mining with trindade in spite of the non-approval and over the weekend of 04/03/13, the dnpm websites portals, sistemas and sigmine both reverted to an AUT PESQ for the 10/09/12 entry (retrospectively), as per dnpm 04/03/13 event above

one thing is obvious, avanco have been very active the last week or so with the dnpm

imo avanco have tried several attempts to 'strongarm' the regulatory authority, the dnpm, by taking legal action and then submitting req lav's in the face of a non-approval and have failed

the one plus is that they still appear to have exploration authorisation licence over the property

is the us$10-40m deal still on the table, or is vale now in a stronger position to squeeze avanco

again the question of the importance of the final exploration report to the vale deal

however why they have chosen not to inform the market about the above information which has been publicly available (for those who truly understand the term dyor) is a question for the company to answer, or not

cheers


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## happytown (3 April 2013)

[thanks mods]

further, as to the licensing phase for trindade north being reversed by the dnpm from REQ LAV/ back to AUT PESQ/ from the 10/09/12 documento diverso protocolizado REQ/LAV to subsequent dnpm decision on 04/03/13, the following illustrate this occurrence:




the above comes from a dnpm list of properties in the parapuaebas region dated dec 2012 and clearly shows the property in REQ LAV/ licensing phase (and cf the 10/09/12 entry from the dnpm file 2 posts back showing it as the reversion back to AUT PESQ/)

further the following 2 images from the sigmine portal show the trindade property - note the sigmnine portal uses a clolour coding to signify the current licensing phase of the property

the first image shows trindade north in the REQ LAV/ phase and is dated approx 02/03/12:




the second image shows trindade north in the AUT PESQ/ phase and is dated approx 04/03/12:




note the red colour coding in the property bottom left indicates the CONC LAV/ phase, ie mining concession granted

it is important to note that the company has made no announcements to the market in general, or to shareholders in particular, regarding either the, what appear to be, negative regulatory decisions regarding the trindade north final exploration report, first issued in aug 2012, or the legal action commenced against the regulatory authority, in sep 2012, even though both of these happened more than six months ago

recognising this and the importance of the vale deal (much-touted by the company), a legitimate question may be to ask what else is the company not announcing to the market in general, or shareholders in particular

cheers


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## ddcc (5 April 2013)

Interesting details hp.
You cant help feel that all this legal stuff was at least part of the reason why AVB didnt recieve the 1 mill in august.

It seems totally amazing though you would think a mention even if only brief via an asx ann as you say, would have been the least they could have reported. Im not a solicitor but makes you wonder are they complying by ASX rules.

Even the article posted by Fred a few days ago about the MOI signed between AVB and Para state for the smelter ,
 even though it seems very positive, its still a worry theres no mention by mangt. As you point out what else are they not telling us about.

You cant help feeling were not far from a few anns to cover all this, not to mention the outstanding drilling results, but the most important of all some news of how they are going to finance a mine.

Cheers for all you great info

ddcc


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## bookworm (8 April 2013)

It is probably a very difficult situation for AVB Management.  

On one hand this TN problem has caught them off-guard.  Sure there is a duty for full disclosure, but then there is a duty to do the best you can for shareholders too.. act in their interests.  The two can be opposed at times.  Any announcement would only ever be a small part of a very BIG story dealing with the complex inter-relationships between all parties.  The ever shifting legal situation.  So it is probably not something you could fully explain in a few lines, even with the best of intentions.  

The requirement is for FULL disclosure and to do that you would need a book.  Full disclosure too can involve sensitivities between the parties.   To be open about this hiccup is counter-productive. Much of the situation could be classified as commercial-in-confidence anyway.  Private. 

So any attempt by AVB at detailed disclosure and explaining would be inadequate, necessarily far from the full story and thus damaging and misleading by nature.

In their situation I would simply lump it all together under "sensitive negotiations" which yes, also broadly encompass the ups and downs of legal dealings.  No more.

On public forums you can get idiots and sheep.  Some idiot says oh TN has fallen over, and all the sheep take up the cry.  The SP tanks, the sheep-shearers move in and fleece them, and then when it all sorts itself out...  up the SP goes.  And the (somewhat poorer) sheep go back to criticising Management.. their favourite hobby.

Sometimes you need to treat shareholders like mushrooms. In their own interests. Sometimes you just shutup and keep a lid on things... and get on with the job.. heaven knows that job is hard enough. 

I agree with that approach.  I love knowledge, but a little of it is a dangerous thing.. especially in this case.
At some point you gotta trust management. Mr. Polglase et al.  They are working hard, doing their absolute best to get it over the line, worrying, sweating, working, losing sleep.... to get there.    They do not need the dimwits you find on some public forums, the dumb and ill-infomed armchair-critics.  

I much prefer to be a rich mushroom than a well-informed pauper.    I sift through what comes up here, the amazing research done by HT (well done my friend!!!), keep my own counsel, and follow it with great interest.


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## Kalenn (9 April 2013)

Very well said Bookworm.


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## simonhhh (11 April 2013)

It is complex situation for AVB Management.  

AVB has a duty to  act in the best interests of shareholders. Any announcement would only ever be a small part of a very BIG story dealing with the complex inter-relationships between Vale, AVB and DNPM.  This constantly changing legal situation requiring alot of sensitivity by all parties.  Full disclosure too can involve sensitivities between the parties, but in this instance to protect all parties including shareholders TP is wise to consider this classified as commercial-in-confidence. Until such time resolution is completed. To act prematurely here definitely would be deemed inadequate, damaging and misleading from a legal perspective i.e. as you say

 "....lump it all together under "sensitive negotiations" which broadly encompasses the ups and downs of legal dealings.  No more..."

THese public forums contain individuals with deceptively and speciously hidden agenda...trolling around offshore Dept Minerals websites in foreign websites leaves these individuals open to misinterpretation, miscalculations and incorrect conclusions to say the least...then coming here to feed into shareholders existing anxieties is scurrilous and meddling with this ongoing criticism of AVB Management... thanks for nothing

AVB's decision to shut-up and keep a lid on things...is not only WISE but necessary to protect AVB's future and also in consideration of ongoing discussions re: finance Stage 1 at AN ... I have been involved in Exploration Projects myself and clearly understand this imperative... i.e. stay focused and get on with the job

In this instance a little knowledge, is a dangerous thing...I know TP etal are working VERY hard to get this project over the line...  And I also agree they need dimwits, meddlers, muck racking idiots and "ill-informed armchair-nitwits on these public forums like a hole in the head...  

I say just let AVB management just do their job...and support the share price to aid the finance package to be approved....others can "bugger off"

Best regards
simonhhh


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## Kalenn (11 April 2013)

and another good post. You have to suspect the capability or the motives of some posters.


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## happytown (11 April 2013)

updating latest information re trinade north from the dnpm (brazilian regulatory mining authority) website

as mentioned previously, the dnpm issued a rejection of the final exploration report on the 20/03/13, the result being that the property becomes available

the property is now in requerimento de pesquisa phase with 3 applicants seeking exploration authorisation licensing over the property as follows (and note the colour-coding change in the property, supra):




in the above screenshot (taken 2 days ago) which can be verified by anyone who simply accesses the dnpm sigmine portal, there are clearly now 3 applications live on trindade north

further:




the above (agin another screenshot from sigmine 2 days ago that can also be verified today) clearly shows the 3 applicants with avanco (note it is avanco resources mineracao ltd subsidiairy this time, as opposed to avb mineracao ltda subsidiairy that held the 850.283/1999 aut pesq licence over the property), with avanco third in line, indeed the sistemas portal shows they missed out by approx 40 mins on being first on the priority list - and note all req pesq's were lodged on the 21/03/13

[note the above image has been manipulated insofar as it is 2 shots 'stitched' together to allow it to be viewed as one]

what the above shows factually, is that as far as the dnpm is concerned the trindade north property is currently available for an aut pesq (exploration authorisation) licence and that avanco appears to be third in line priority-wise

as this all appears to show that avanco is not currently the legal titleholder of the trindade north property, what of the vale-avanco deal over the trindade north property

it is to be understood that avanco appear to have lodged an appeal (see post above), however they were unsuccessful in their attempt at injunctive relief previously

more than happy for anyone, including the company, to present facts to counter anything posted above

*and it needs to be understood, all of the above posts re this issue contain publically available information that can be verified by anyone who wants to verify it 
*
cheers


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## Kalenn (11 April 2013)

Spoke to Scott Funston  seconds ago.

Summary; No dramas, the long and short of it, "all tenements are in good standing" a direct quote from Scott which said he was fine on being quoted on. He also had a few other choice words but I better not repeat those.

Let's move on to the next beat up...hope whoever just sold a parcel was intending to sell before this non-issue arose.


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## Kalenn (11 April 2013)

Flurnt

How good is your Brazilian and your understanding of bureaucratic process over there?

I would argue any one reading your posts is relying on those factors very heavily. My information...and translations lead me to a different conclusion to yours.

I am still curious about your motives ...you don't seem to hold stock or post on other stocks.


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## happytown (11 April 2013)

Kalenn

clearly a non-issue to you

the suggestion that people go and verify for themselves (which would include translating it themselves) is inherent in my posts on this subject

you read my motives, as i explained them, before you tou'd my post linking hc to here

post up your translations


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## Kalenn (11 April 2013)

I already have...all tenements in good standing.

PS wasn't me who TOU'd your dodgy post.


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## toph (11 April 2013)

Gidday happytown and Fred108 (Best to use ASF nics on this forum dontcha think?))


happytown...I tried to join ASF a couple of years ago when we were discussing AVB regularly,but ASF wouldn't accept my email address....today,lo and behold,no probs...)
I know you have been in and out of AVB often,as have I.

It was interesting reading your last few posts re TN,but it seems that the meaning has been lost in translation?...Although I do remember there was a "discrepancy" in the size of the Serra Verde tenement..(the prospectus and AVB's initial ASX releases showed it as a 10kx10k square tenement when in actual fact Vale owned the southwest quadrangle)


Best to believe Scott Funston's "all tenements are in good standing" I'd say.




Hi Fred......"How good is your Brazilian"?....getting kinda personal there..)



Cheers


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## Kalenn (11 April 2013)

Toph

Nothing like a close shave    and I didn't start the stripping competition.
Have to confess my personality will step up when challenged though...if u get all the inuuendo


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## toph (11 April 2013)

Fred108.....I'm hearin ya...tudo bem,tudo bom...


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## Kalenn (11 April 2013)

tudo bem


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## Kalenn (11 April 2013)

Acho que a discriminaÃ§Ã£o Ã© chamado para aqui


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## happytown (11 April 2013)

g'day toph,

you know i could have sworn years ago in those discussions you posted in repsonse to me calling the co, that when you ring the co, you only hear what you want to hear (words to that effect)

welcome

why do you think that the regulatory authority's website shows the information that it shows re trindade north

and which parts do you think are lost in translation, specifically

how many of you have taken the time to go to the brazilian websites mentioned

and kalenn, again post up your translations of the information on those brazilian governement websites that lead you to a different conclusion as, no doubt i am not the only one who would be interested to see your translation of the dnpm information and for that matter the extract of the legal case - you seem to have some grasp of portuguese, yet rather than providing your translation, which could have been definitive for all, you instead ring scott for an 'answer'

i note that nowhere in the websites that are provided above and are specific to what is discussed here, is there a translatable phrase that reads 'in good standing'

awaiting your portuguese expertise here kalenn, sincerely

post up the translations and clear this up


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## Kalenn (11 April 2013)

My translations ...

I agree there has been some argee bargee re the application to have the exploration licence for TN converted to a mining license but I do not believe, as you have translated, that the tenements are now in the possession of other parties. I believe Vale attempted to take a short cut with the DPMP and they said go back to the drawing board and do it the way we want it done. I suspect that is exactly what Vale are now doing.

Nothing I have read suggests anything other than a delay...as stated by the company at the AGM.


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## toph (11 April 2013)

Fred108 said:


> Acho que a discriminaÃ§Ã£o Ã© chamado para aqui




Hey Fred...I'm "lost in translation" lol...but I think I've got the gist of it. I'm a member of a few stock forums and as you know I'm in the naughty corner of one,so I'm happy to post here!


happytown is the reason I joined ASF as I've always found his posts informative.



Cheers!



Gidday happytown......Yes,I do not believe in calling the company for the reason you stated,but when Scott Funston is happy to have a direct quote stated on a public forum (according to Fred) that "all tenements are in good standing" then I'm ok with that.
Doesn't mean that I'd take a position in the co based on that,though.

We as posters have to be careful of posting possibly defamatory statements....I would hope that Funston would not be quoting misleading information in this instance.

As to your other questions,I have NO idea,sorry.

I'm watching with interest to see how the AVB saga plays out.


Cheers!


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## happytown (11 April 2013)

interesting fred,

one point, there is no translation that tn is in the hands of other parties, there is information on the dnpm's website that appears to indicate that tn is currently the subject of 3 req pesq's, by 3 different parties, one of whom is a subsidiary of avanco - meaning 3 parties currently have applications in to the dnpm for an exploration authorisation licence for trindade north

note this is a req pesq, not a req lav (according to the dnpm website), so why would an avanco subsidiary have lodged a req pesq

fred, i understand you have spoken to the office and you have no reason to doubt what you were told

from my perspective, my question is why is the dnpm website showing the information that it is showing (and still showing that information)

even allowing for translatory concerns by some, there is clearly some information differences as between the 2 parties, and with one of those parties being the regulatory authority, it may not be prudent to dismiss it out of hand


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## bookworm (13 April 2013)

.. well really I am new to all this and am a dummy when it comes to shareholding. ..  so I apologise to all here for that and beg your kind forebearance.   

There are some pretty clever posters here.  HT, fred, toph, simonhhh...

If Mr Scott Funston  said "all Avanco tenements are in good standing" I suppose it all depends on what he means by good standing. If he means that TN is still the property of AVB he can claim the defense of being technically correct insofar as it is still their property as far as THEY are concerned. However as far as dnpm are concerned it is no longer AVB's property and is open for applications, but nothing can be awarded possibly until the outcome of this appeal is settled.  A counter-tactic.

So be shy of interpreting Mr. Funston's bland declaration as being all is Rosy. Interpreting.  He did not actually say Trindade North is ours for a further X years, Exploration Report has been accepted, and there is no dispute about TN with dnpm.... I presume. 

So it could potentially be what they call a half-truth. Potentially.

Now I have nothing against half-truths. It can be a useful tactic. Quite legal and clever.   I indulge in a few myself occasionally with care. But the danger is when people try and interpret half-truths to mean what they would like them to mean.... if you get my drift.  Also if bluster is added to a half-truth to try and give it further veracity through vehement indignation, rather than a measured, detailed rebuttal  .... a clear thinker might be forgiven for smelling a rat....          

If what HT posts is TRUE, and HT has not spent weeks faking it all up, then rather than personally attacking HT, then why not examine the implication of his research???  Verify his claims first of course...  far more sensible I would have thought.

Anyway, looks to this dummy like you have a situation where AVB says "Its ours!" and DNPM say "No its not!"   As pistol/sword duels are outlawed, I suppose it is off the the Appeal Court. Or have a tug of war.. winner take all. 

If No 1 applicant is actually Vale then it is not the end of the world I suppose.

If No 1 applicant is Mrs Jones of Moone Ponds,Vic, and she gets it, well I suppose Vale will be knocking on her door with an Option Agreement too .  How to be an instant millionaire in one easy lesson.  

Who knows anything for sure ......  

.. anyway I am a high-principled church-going person. I detect some unabashed personal accusations of hidden agendas, accusations of beatups, and caustic asides. That is intimidation... or to use a trendy term, bullying.

I would love to continue to pop in here to wonderful ASF for a visit or lurk now and then but if that is the tone of this forum.. that is, any opinion disagreement or a publishing of factual material is met with intimidation, then I am off to the pub.  Respect for the viewpoint of others I was taught. Politeness.   Pleeeeese....  Ok, off I go to confess my sins....   and let me tell you there are quite a few of them!  and that is NOT a half-truth


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## bookworm (13 April 2013)

As I said.. beware of repeating half-truths like "All our tenements are in good standing"

It's technically correct!! ... sure... but you could be forgiven for even subconsciously being led by it to make other assumptions.....  the devil is in the interpretation of assertions... the detail.

... my last post said "I am a high-principled church-going person."

Likely you took that at face value (and interpreted it)!! 

I ride my pushbike through the local church grounds each morning.  So.. I am "church-going".

I am technically right!  but do you think my statement was... misleading??  It was TRUE enough.. but YOU intepreted it to suit what you wanted to believe.    It was a half-truth.

As for high-principled? I confess that was more of a lie than a half-truth.   Sorry.

50 posters and 50 different opinions as to what exactly "good standing" of all tenements means... LOL  Brazil dnpm probably have their own thoughts too but unlikely to be regulars here on ASF.

Ya gotta be precise, well-researched and factual  .... like HT.    Agreed  ?  And if a quotable Company Statement cannot be that, then....  it is... obfuscation? and dodgy.   Surely?

Anyway, sincere thanks to ASF for allowing me to humbly present my somewhat uneducated thoughts.   What a great public forum!


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## toph (13 April 2013)

Greetings bookworm....

No one's ever accused me of being clever before lol....Sceptical and cynical,yes....


I must confess I share the same thoughts you expressed re interpretation of the spoken word...


Anyhoo,IMO,the tenement table in the last annual report says it all.....



" Renewable on approval of the Final Exploration Report by the National Department of Mineral Production. Final decision awaited."



We await...


IMO,It would be a setback financially if TN wasn't renewed,(no Vale funds forthcoming),but as we all know,copper is the main game for AVB


Cheers


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## toph (13 April 2013)

Hi bookworm...just saw your last post....lol


My SIMPLE interpretation is Yes,the tenement is in good standing while awaiting renewal and Vale/AVB discussions are prolonging this approval process....I hope the outcome is in AVB's favor!


happytown.....
I hope a previos post of mine didn't give the impression that I was dismissive of your efforts in presenting this info....it's Much Appreciated by me....I'll have a little time tomorrow to check out the other 2 applicants,unless you have any research on them you'd like to share...


Cheers!





Cheers


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## happytown (14 April 2013)

not at all toph - re the dismissive

the moi posted upon previously was recorded in the official gazette several days ago, as follows (tranlsated):

"HARD-EDGED CONCEPT EXPERIENCE AND TECHNICAL COOPERATION AGREEMENT

PUBLICATION NUMBER: 508260

PARTS of the agreement: the Secretary of State for industry, Commerce and mining-SEICOM and AVB MineraÃ§Ã£o Ltda.

OBJECT of the agreement: Scientific and technical cooperation in developing studies, projects and activities related to the technical knowledge on the viability of options of verticalization of BLISTER COPPER PLANT in the STATE of PARÃ, from mining projects of the AVB and the SEICOM side, the institutional development of AVB, in the form of support and guidance, especially in the areas of project development with a view to mineral production, with a focus on technical feasibility, environmental, forms of financing, identification of deployment and logistics area. SIGNATURE DATE: March 27, 2013

FORCE of the agreement: 3/27/2013 to 3/26/2016"


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## toph (14 April 2013)

Cheers happytown....

Had a look at the other 2 applicants re TN (Terrativa and Infinity....)with little success....couldn't log into Terra's website without registering and my lack of Portuguese stymied my efforts.




No matter....IMO,the TN/Vale situation does not inspire confidence that AVB can be successful in the Carajas...Polglase has mentioned previously that AVB's credibiliy with the mining authority depends on AVB being able to demonstrate that they can do business in the Carajas....IMO,that's being questioned here with 2 applicants being able to come over the top re TN....

Who knows what machinations have been happening behind the scenes,but ISTM that Vale are calling the shots here.


AVB's original plan was to become the 2nd producer in the Carajas via the DSO and use that as leverage...for whatever reason,that plan has not come to fruition and IMO,AVB is destined to be no more than subservient to Vale/Xstrata.


For holders' sakes,I hope that Wood pulls off a lucrative corporate deal.


PS...If I was holding,I'd be waiting to see how it all played out.....fingers crossed that holders who bought near the highs aren't burned.


Cheers


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## happytown (15 April 2013)

toph,

i don't question the quality of the company's copper projects, which imo are very good assets, or the company-wide expertise to make best use of those assets

cheers


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## bookworm (15 April 2013)

With the 2016 Olympics coming up, I would like to see Avanco and its bosum-buddies Para State government ask if the Bronze medals can be cast using copper from The Antas North mine. Supplied free of course.

What a wonderful gift from Australia, Avanco and Para State.  Maybe even use gold/silver scavenged from flotation tanks, but might charge for the gold.   

What a coup that would be!!!   (provided AN is a goer by then.... haha)

Like TN tenement exploration-applications that are current (which we don't mention)... it is first in best dressed, so get going Avanco.


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## happytown (15 April 2013)

bookworm,

and this is why the copper projects are such good assets

and it is an example of Avanco's getting going

pedra branca - a little over 12 months since the deal was done and 3 resource upgrades

still methodically drilling out a great resource

and a perfect example of the company's expertise in action from deal-making, to resource expansion, to joining the production pipeline (in due course)

there is no denying the company's expertise in copper

cheers


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## bookworm (16 April 2013)

Yes, exactly HT,

which is why I have all my investment eggs in the basket of this one company.  AVB

In Sept 2010 AVB/AVBOB jumped from 2c (the happy time) to around 20c on news of a chalcocite 50% Cu hit, then remained in the teens for the next six months.   Subsequently, as you know, their corporate performance has been stellar. PB, jorc, Xstrata, Vale deal, massive tenement gains ... and they are poised now to become a highly profitable real miner. The cash from AN to be ploughed into an even bigger mine at PB.  

If you were a medium term investor and more than two years ago paid 14 cents for an AVB share when AVB had absolutely nothing compared with what they have today you might have reasonably expected to see your 14c share rise in value. Logical? 

So as an investor you got it right.....   picked the right company from many... .  so hard to do in itself...  and not just at some short term price peak either.. and your reward??  

To see your 14c avb share decline to 6c.  

So you can plot AVB SP and AVB Fortunes on the one graph and see one in general decline and one on the monotonic rise.  180 deg out of synchronism.

So what useful conclusions can be drawn from that ?  other than the obvious one of don't invest in good companies. 

Don't try and pick winners, flip a coin instead.. 

One Answer  : pick a company like AVB at 6c and go for it.  A stock where its SP has not tracked its fortunes. In fact the two have been historically opposed for a long time, trendwise.  The simplistic argument being that the SP has a lot of catching up to do. That the gap between the fortune line and the share price will narrow, at some point.  

In AVB's case this argument is especially compelling now because

1.  AVB share price cannot get any lower than 6c surely.  (haha.. maybe)

2.  The AVB fortune line continues to trend up strongly with expected granting of mine finance, vale cash coming in, and especially management hints of further projects/tenements... and Xstrata still have an obligation to offer AVB first refusal on any unwanted copper tenements.... no small thing.

I am sorry for those who bought in as new investors at 14 cents or whatever..... but be encouraged.

BUT for a new investor, I suggest just forget delving too much into the all the nuts and bolts and just look at it from the above simplistic approach. 

The two important Trends.   Massively opposed for a long time.  So forget the trees (vale cash, drill results,etc) and see the forest.

As a gambler, er I mean investor, it could be (close to) a sure thing?


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## bookworm (16 April 2013)

RE   :"HARD-EDGED CONCEPT EXPERIENCE AND TECHNICAL COOPERATION AGREEMENT

PUBLICATION NUMBER: 508260

Yeah HT ... Directors must hate these public forums....

Look at the recent incident of the AVB- Para State smelter partnership to investigate a blister plant.....   

..when news of it got out, the indignation was deafening...!   " we are not told, management keep us in the dark, we are poor forgotten shareholders....  the vitriol !"

I mean I was as guity as anyone and got really excited about it. A smelter on our doorstep tomorrow and the company makes no announcement!!!

OK... turns out it was no big deal. An hour or two a week... and great investment in public relations with the authorities.   A very useful thing to have some direct lines at times.  But naturally the local Brazil media, through politicians media units fanned it all up way out of proportion.... 

It was nice, sure.  But so minor and so far off the Main Game as not to warrant a formal Announcement.  It will likely rate a modest line or two in the Quarterly.

To make a big deal of it, to actually make a fanfare Announcement would lay one open to deceptively making a big deal out of something small in the interests of trying to push up the SP.  

So poor management were dammed if they did and dammed if they didn't announce.  They must grit their teeth often.  Well it goes with the high salary... at least they can always afford new teeth then, no probs. 

So integrity won over expediency.  That is one reason why I am an AVB Man.   

A reason why I literally hero-worship AVB Management, MW, TP, SM etc... and while I take the mickey occasionally out of some, it is done through a regrettable sense of humour. . but then I was born with that and can't help it.


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## toph (16 April 2013)

bookworm and happytown.....Whilst I don't share your faith in management,I do think that AVB is a good risk vs reward play from this level.

If I was holding,I certainly wouldn't be selling now.


Cheers and l hope you're well rewarded for your patience!


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## prawn_86 (17 April 2013)

A lot of recent discussion on this thread. Good to see some analysis 

First glance to me it appears to be one of those typical small cap companies that always promises but never delivered. I have seen numerous companies targetting 'near term copper production' but have never made the step from explorer to producer.

I would put money on them not being profitable within the next 5 years, but hope for holders sake i am wrong


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## Bushman (7 June 2013)

TH, finance deal is through ... phew what a wait. 

Now we await the details.


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## speedyj1 (8 August 2013)

Any thoughts on were this stock is heading??


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## warthogjump (15 October 2013)

speedyj1 said:


> Any thoughts on were this stock is heading??





I've been registered on these forums and holding avb for a very long time, but it has been a while since I made any post. 

All I have to say is I have been holding avb for a little over 3 years and have averaged down many times. I initially purchased days before its all time high of 23.5c at around 11c I think. Then it boosted to 23.5c and I thought dang I'm sitting on a winner. Unfortunately, share price dropped, but I still believed in the company so used quite a few opportunities to buy in at lower prices and average down. 

Nevertheless, despite all the positive announcements and moving forward of the company from a fundamental perspective, the share price has done nothing but move backwards since its good climb 3 years ago. I mean we were comfortably sitting well within the teens even after the spike we had 3 years ago, then what? We move forward fundamentally, but move backwards sp wise?

Maybe it's the overall market sentiment not wanting to get caught up on spec stocks in this day and age where the market is more uncertain than ever with the US barely holding its feet, but all I've seen is a stock that hasn't budged in the last 3 years, in fact gone down. 

So what am I going to do with this cap raising the company newly announced? I hope the sp spikes and I will sell, take whatever profit comes my way and walk away to another investment. It has simply been too long for me to be in this stock and see no progress to the sp. Not to mention the cap raising is just going to provide more dilution and accordingly less value to each share we hold, it's going to take even longer for the company to move up. I'm going to be on those buggers that sells into the news this time.


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## warthogjump (16 October 2013)

my advice is sell now! avoid more loss / less profit if you keep holding.

this company is going to take many more years to move anywhere.

Like I said I have been holding for 3 years and we have moved backwards and based on the face of the last ann we are going to do more moving backwards for a while yet. 

unless you want to lock your shares up and forget about cashing them in for the next 10 years, sell now!


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## piggybank (6 January 2014)

warthogjump said:


> my advice is sell now! avoid more loss / less profit if you keep holding.
> 
> this company is going to take many more years to move anywhere.
> 
> ...




You maybe right yet. However, the company asked to be put in a trading halt today which was accepted. I also noticed that last Friday an Amended Announcement - Results from Drilling Programmewhich can be read here - http://stocknessmonster.com/news-item?S=AVB&E=ASX&N=663450 - was an update of the paper put out on the 23rd December entitled Exceptional Early Results From Reserve Drilling Programme.  Since the 12th December the price has gone up 37%, do we have any geologists here who can inform us if this is the biggest thing since Tutankhamun? 

It will be interesting to see how the market reacts when the Trading Halt is lifted?

Thanking those in advance who can shed some light on the report

Regards
PB


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## LRG (9 October 2014)

My view is it is ready to rocket now FML approved, plant and equipment for mine in transit for stage 1, stage 2 and 3 potential is pretty darn good. Keep this on your radar, IMO it is going to be the next SIR!


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## happytown (20 April 2015)

whoa, whoa whaaa ...

(with aoplogies to banjoplus)

there was movement at the station for the word had got around,
avanco were about to dig a great big whopping hole in the ground

the question is - a hole for them or a hole for the mine

today, a t/h pending an update on finance, arguably overdue

other anns of interest,

the recent (16/04) ann re "Extension of time to hold AGM", as per ASX Listing Rule 10.1, due to:



> ... the Company [is] currently negotiating a number of proposals including those from related parties ...




At least one of these negotiations could likely to be an off-take agreement with Glencore (approx 12% shareholder) for the Antas concentrate.

Previously the co has stated that it was in discussions with smelters in Brazl and internationally.

The international smelters being likely Aurubis' smelter in Hamburg and Glencores smelter in Rouyn-Noranda, Quebec.

Avanco have previously stated that Glencore is interested in the Antas concentrate, see for eg "Maiden Reserves exceed expectations for Antas Copper", dated 17/09/14, specifically:



> ... Glencore is a major shareholder of Avanco and has expressed interest acquiring the Antas concentrates."



 (see p8, last sentence prior to md signature)

That ASX Listing Rule 10.1 includes marketing (off-take) agreements as between related parties, is apparent from anns such as those made by ERA (eg dated 30/04/14), where ERA was granted a waiver by the ASX from complying with Rule 10.1 (incl the shareholder approval and independent review otherwise required by), when entering into a new sales and marketing agreement for their uranium oxide with Rio Tinto Uranium.

could all the cards be about to fall into place
or could shareholders end up with sulphide egg gas on their face

or could it be the lond-awaited trinadade north vale deal finally coming to fruition
for the possible answer to that one head on back a few pages for some free tuition


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## LRG (20 May 2015)

unfortunately, looking more and more like another dud pick for me


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## koppercatz (3 June 2015)

Don't give up hope too early LRG. It could well be argued that with the current financing plans finished in a few weeks that AVB had never been in a better position to finally reward us patient share holders. 

News will come as we head into AGM time as well.


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## LRG (12 July 2016)

koppercatz said:


> Don't give up hope too early LRG. It could well be argued that with the current financing plans finished in a few weeks that AVB had never been in a better position to finally reward us patient share holders.
> 
> News will come as we head into AGM time as well.




No still a DUD!


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## warthogjump (31 August 2016)

warthogjump said:


> my advice is sell now! avoid more loss / less profit if you keep holding.
> 
> this company is going to take many more years to move anywhere.
> 
> ...





it has been 3 years since my last post in October 2013 and the sp of this stock has almost halved! Unbelievable...I am looking to re-enter now as I believe a return to the 8c range is imminent 
This company at a 5 year low with increasing fundamentals only a matter of time before it bounces back now ALL IMO


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## warthogjump (5 October 2016)

Picked this one again 
We are going up guys - good to be back!


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## pixel (5 October 2016)

warthogjump said:


> Picked this one again
> We are going up guys - good to be back!




Trading Halt.
They're getting a Brazilian  project transaction.


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## warthogjump (10 February 2017)

warthogjump said:


> Picked this one again
> We are going up guys - good to be back!



Hit the nail on the head on this one - it's almost doubled in price since I picked up a few months ago. Things are looking excellent for this company now!


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## greggles (27 March 2018)

OZ Minerals acquiring Avanco Resources for 8.5c cash and 0.009 OZ Minerals shares per Avanco
share. The Avanco board has unanimously recommended that shareholders accept the offer, subject to no superior proposal being received. Looks like a done deal.


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## warthogjump (19 April 2018)

I'm not sure how done the deal is - some shareholders are very unhappy with the bid. It will be interesting to see what transpires in the next few weeks before the offer period closes. I will be holding tight.


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## greggles (2 May 2018)

The OZ Minerals takeover of Avanco is now a done deal. AVB management has accepted the offer and recommend that shareholders do the same.


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## warthogjump (9 May 2018)

greggles said:


> The OZ Minerals takeover of Avanco is now a done deal. AVB management has accepted the offer and recommend that shareholders do the same.



Yep - it's a Done deal because OZL have 35% relevant interest in AVB and have had to extend the offer in an attempt to get more...


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## System (12 July 2018)

On July 11th, 2018, Avanco Resources Limited (AVB) was removed from the ASX's official list in accordance with Listing Rule 17.14, following compulsory acquisition of the Company's securities by 
OZ Minerals Limited (through its wholly owned subsidiary OZ Minerals Brazil (Holdings) Pty Ltd).


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