Avanco Resources Ltd ("AVB")- very high grade cu

[Xerof]

Look what happened to TON - 400% gains in a week or two for those who sold on announcement day. Gee what a terrible shame.

TON got my comments when it spiked on the 'discovery'. I hope holders took that advice.

AVB had it's discovery spike a few years ago. It's now entering the move to production phase. Google 'mining co life cycle' for a graphic, but anyone with an interest in mining juniors will know this already.

Yes, Snap, there will be some tweaks to how this financing plays out, but you are being far too negative.

I'm not expecting a huge spike - I've said it repeatedly, this is a 5 year hold (now 4 year) from here, not a short term trade.

If the related party proposal is unfair, the other 2 12% holders, the organised proxy group of about 10% and other minor holders will be able to vote it down. I'm guessing here, but my pick is for an off-take agreement with Glencore, with some of the cash up-front (possibly in the form of a small CR) to cover a small shortfall from one or both jelly-arsed syndicate banks. But, I have been known to be wrong

[Xerof]

You and I both know one sucker who bought at AVB's post-announcement top last year then followed up with a TON post-announcement top buy too

Got to be cautious of these mining developers and the greyhound-betting-style trading that occurs with these HotCopper delinquents

Oh, is that why you non-holders show such an interest - poor old moosie lol, leave him be you bullies I see he's reincarnated on HC in his original moose outfit, doing TA on copper, ffs!

[robbo24]

Oh, is that why you non-holders show such an interest - poor old moosie lol, leave him be you bullies I see he's reincarnated on HC in his original moose outfit, doing TA on copper, ffs!

Disc: Holding TON (at a huge discount to Moose)
Disc: Holding AVB (at a huge discount to Moose)

[Xerof]

Disc: Holding TON (at a huge discount to Moose)
Disc: Holding AVB (at a huge discount to Moose)

Haha, so even more reason for Moosie roasting - I know it is in good spirit

[robbo24]

has anyone ask moosie lately if he is a trader or long term holder....me thinks he gets confused.
They call it the headless chook trade

I began recording Moosie Trader Strategy Updates on WhatsApp voice chat, to note every time he changed his mind on something.

Day before the TON announcement he swore black and blue not to buy TON

He is every step of the cycle in one: http://www.mackensen.com/images/emotion2.jpg

[psychic]

http://www.theaustralian.com.au/busi...-1227314280216

[psychic]

Here it is.. (well, the goss anyway)

Junior explorer Avanco Resources is poised to defy the funding freeze that has crippled the smaller end of the resources sector, moving to lock in about $80 million of fresh capital to support the development of its Antas copper mine in Brazil.

It is understood Avanco will announce this week that it has secured a $20m placement to parties including private equity group Greenstone Resources as well as a $15m royalty transaction with Blackrock. It will also look to raise another $45m or so through an entitlement rights issue.

The involvement of private equity and the royalty deal with Blackrock reflect the alternative funding avenues being pursued by small resources companies given the limited prospects of securing money through traditional debt and equity markets. The raising will replace a plan to secure $58m in debt funding from Brazilian bank Banco Votorantim. It’s believed the change was driven by Avanco’s desire to start construction shortly, given the looming dry season will provide a narrow window to build the mine with minimal chance of interference from weather.

It plans to develop its small but high-grade Antas deposit in Brazil into a mine capable of producing about 12,000 tonnes of copper a year, as well as about 7000 ounces a year of gold.

It is understood the placement will be made at a premium to Avanco’s volume-weighted average price over the past month. Its share register already includes commodities giant Glencore (holding a 12.2 per cent), Blackrock World Mining Fund (11.4 per cent) and Appian Natural Resources Fund (11.2 per cent).

[robbo24]

http://www.theaustralian.com.au/busi...-1227314280216

Reminds me of that fateful day last September when Moosie told me that FUNDING IS JUST AROUND THE CORNER, BIG BOYS A-COMIN!!!

[psychic]

Debt free and mining....

[robbo24]

does this mean a start to mining with no off take agreement.........that's a bit risky

I think in terms of the amount of information available, a placement to Moosie's "Big Boys" at a premium to the VWAP and offer to remaining shareholders shouldn't be too bad. My understanding is that any dilution will come from shareholders not taking up their rights.

It seems to me that dilution will be off-set by future off-take agreements (which can now probably be worked on properly), construction and drilling results - not to mention de-risking - should be good for the company.

Guess we'll see, won't we!