the silence is heart warming, page-11

AU Mining will be the last resort option to fund the entire project and it is unlikely to come to that but important to know that that option is a possibility in a worst case scenario.

Ron and Wally will be doing all they possibly can to insure that there is as little equity dilution as possible.
They are substantial shareholders and don't want to be diluted to oblivion either.

Unlimited QE has awoken this market and the shareprice appreciation in ATV in recent weeks is from a trickle of new investment that seems to be growing and gold is still only in the 1760's and consolidating ready for its next big push.

Gold in the 2000's will have a dramatic positive effect on the profitability of the Touquoy project and more and more people will be looking towards gold and finance will become easier to find for quality gold projects.

Patience is required and Wally and Ron have shown they have enormous patience and any delays for the next few months can only be good because a big jump in the gold price will boost the appeal of the Touquoy project to prospective lenders and financiers and a rocket under the shareprice also vastly reduces the potential amount of dilution.
Every cent the shareprice rises the more the company is worth and the less dilution there will be.

As an interesting aside at the moment most fund managers are unable to invest in small companies like ATV because the market cap is too low but once the market cap is over 50 Million a lot of these types of funds will have more flexibility to invest and will help sustain the large rises in shareprice in the future.

Numbers has put his valuation on ATV at 50 cents which as the gold price rises will only increase and when sentiment truely turns and the market wakes up to ATV and the potential of the Touquoy project the share price will be a lot closer to 50 cents than the current 4 cents in my opinion.