AVY is my small flutter... a gamble... mainly (and illogically) because I have faith in the Directors and note now that Woody is involved as well... the good old gang. Having a good called horse (Azul) is fine, but the jockey (Directors) has to be smart too as he is in the drivers seat. (not that I ever bet on horses except at Melb cup time!)
It is Azul I am interested in... not the steamy god-forsaken malaria-riddled jungles of Burma. Forget it. I value my cash too much! It is March. Time for the next BIG payment for Azul. Cash.. folding stuff... straight out of the bank account. Decision time.
I am used to big hits like at AVB, 50m at 1.5% Cu plus gold etc... so even if it is shallow Tin, 3m at 1.5% seems pretty small time stuff to me... but I am no geo.
The Directors recently paid around 3.4c per share through Lotus as I recall, if you look at the shares they received for the cash they surrendered in the recent merger. How much cash they have collectively put into it before now, like at IPO etc I don't know. http://www.avenueresources.com.au/pdfs/HalfYearFinancialReport19Feb14.pdf
Reports on TAD 1 - 6 with intercepts of around 3 - 6 m averaging about 1.5% tin.
No big tin find to send the SP into the stratosphere.
They certainly did not get excited about that, and whether it is even vaguely profitable I have no idea. Money is running out fast. Three staff resigned in January, probably to cut running costs and because there simply was no work for THAT many people. Fair enough.
I will sit on my small investment.. for fun.
If I lose it, well I do, but the Directors will be losing infinitely more than me if it flops.
MY theory is that Azul should have been conclusively proved to be very profitable, even if no more tin is found. If it was bought on spec that heaps more tin was needed and would be found, then I would be OUT.
I like TP. A straight shooter. The sort of guy you would follow, and while every post cannot be a winner, this SHOULD be.
We will see.!
BTW.. recent "Change of interest of substantial holder" comes up as the Half-Year financial report on the Avenue website. Wierd. I hope they can manage to drill in the right spots and have not made any oversights there ...
TRI Price at posting:
2.5¢ Sentiment: None Disclosure: Held
