18th Feb 2019. Hon. Tovosia responded in Solomon Star, page-43

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dangs260

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19/02/19

20:50

Post #: 37490719
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Originally posted by mboose ↑

Sepi there is nothing wonderous about being in SI unless one has a solid business. AVQ does not. Many good Aust public company’s have gone to the wall in their efforts (chasing their tail) to operate in SI. Gold Ridge mine is a prime example.
Gold Ridge is a brilliant Au mineral resource, great length of mine life projections on proven reserves but ........ it is a nightmare to overcome the SI social problems associated with it.
The last operator of the project St Barbara (SBM) went from a respected company with a valuable share price down to 0.07 cents. All on the back of trying to operate a SU gold mine. The company invested and lost over AU$250M in capital expenditure on the Gold Ridge project. After acquiring Gold Ridge they had a torrid period of completely renovating the Gold Ridge mine plant back to operational status, producing and pouring gold on site. The BoD’s made the decision to leave SI and returned to their Aust roots and projects and in a short period have returned their shareholders faith in them and today SBM is again a multi dollar ($5.00) share on ASX.
Why did SBM leave Si.?
They left SI because they could not overcome the social issues and costly vandalising disruptions to the actual mine, the site and processing plant.
The deep complexities of traditional SI cultures make it very frustrating and difficult for outsiders to operate successfully within SI society.
SBM BoD’s recognised this, cut their losses and re-established themselves as they have.
AVQ’s board and CEO have no expertise in exploration or mining. The board has no industry depth. There is no consciousness to the absurdity of how much RM is rewarding himself while the company slowly expires imo.

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why in God's name would you hold with these views??

AVQ Price at posting: 7.8¢ Sentiment: Buy Disclosure: Held
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18th Feb 2019. Hon. Tovosia responded in Solomon Star, page-43

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