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

[trackers]

Rights issue. 1:1.5 with free option for every 5 shares.. Raising 5mil. fully underwritten.

Release is incomplete however, no idea of record date (which as a non-holder if the most impt piece of information for me!.... Also surprised that copper prod 'commercial decision' to be made late 2010 - Not as near term as I had thought... Guess the Ni really has taken center stage

[steve fleming]

There was an interesting post on h/c by a pretty respected poster (that has since been moderated) that was adament that the cap-raise was going to be a 1 for 1.5 rights issue @ 2.5c togethor with a free option to raise $5.1m. The poster said the raising was being managed by CPS Securities. To me, this made sense, as a Director of CPS is Jason Peterson, who just happens to be one of the largest shareholders in AVB (through Celtic Capital).

So the h/c poster was 100% on the money - the terms of the isue were therefore obviously known early last week, but it took a week to announce to the market. The only thing i can think of, is it took a while to get underwriting commitments.

The rights issue is a bit disappointing, given the dilution, but to have it 100% underwritten @ 2.5c is a pretty good effort.

Probably some short term pressure, but the market will like the cash, and there will be some interesting news flow coming up with the Touro Ni drilling, additional acquisitions and the cu development.

Strat - i am doing OK, i'm a pretty deep sleeper, but my wife likes to tell me each morning apparently how she was up all night feeding!

[STRAT]

So the h/c poster was 100% on the money - the terms of the isue were therefore obviously known early last week, but it took a week to announce to the market. The only thing i can think of, is it took a while to get underwriting commitments.

The rights issue is a bit disappointing, given the dilution, but to have it 100% underwritten @ 2.5c is a pretty good effort.

Probably some short term pressure, but the market will like the cash, and there will be some interesting news flow coming up with the Touro Ni drilling, additional acquisitions and the cu development.

Strat - i am doing OK, i'm a pretty deep sleeper, but my wife likes to tell me each morning apparently how she was up all night feeding!

Im pleased to see they didnt issue more free options with longer ex dates and or lower conversion price.

Sleeping right through eh? Youve earned the title dad already then

[trackers]

So the h/c poster was 100% on the money - the terms of the isue were therefore obviously known early last week, but it took a week to announce to the market. The only thing i can think of, is it took a while to get underwriting commitments.

The rights issue is a bit disappointing, given the dilution, but to have it 100% underwritten @ 2.5c is a pretty good effort.

Probably some short term pressure, but the market will like the cash, and there will be some interesting news flow coming up with the Touro Ni drilling, additional acquisitions and the cu development.

Strat - i am doing OK, i'm a pretty deep sleeper, but my wife likes to tell me each morning apparently how she was up all night feeding!

Hi Steve,

Lucky you - Glad everything is going well with your new bubs.. Our first is due in 6 days! I'm an incredibly light sleeper so will see how we go

[jdg]

crumbs, people might fall pregnant just reading this thread...

it was an interesting raising - well thanks, steve. the delay was certainly unusual, but even more so was the fact that a poster on ST seemed more than aware of the details. i too felt that the copper project may well have advanced a little more quickly than a decision by the end of the year, and it seems clear they think the nickel may come up trumps (and this now appears to be their near term focus). a significant discovery there would certainly give things a dramatic boost. given the rights issue was expected, i'm happy to take them up (i'm only in the heads), but i do have the obvious concern as to whether or not management can actually make money from all of this potential. i really want to see the copper project proceed (to prove they have what it takes to make profit not just promises) before we begin looking to buy other tenements. this one is a roughy, but it really does have the feel of something rather big in the making. time will tell.

-j

[STRAT]

Somebody wants AVBOB this morning

[trackers]

Picked up some heads today, keen to take part in rights issue. Very happy I sold BOB's @ 1.9c last week....

[steve fleming]

Hi Steve,

Lucky you - Glad everything is going well with your new bubs.. Our first is due in 6 days! I'm an incredibly light sleeper so will see how we go

Wow...awesome news..you've got an amazing time coming up!

Nice sell with AVBOBs.

Record date is 18 March 2010 - so there is a little bit of time for people to get set for the rights.

It wouldn't surprise me if AVB have some good news lined up to ensure maximum take up, although being 100% underwritten the pressure is off a little bit.

[evilroyrule]

[QUOTE=steve fleming;296321]Wow...awesome news..you've got an amazing time coming up!

good god you make me feel old! still as the sire of four fillies and one colt captain fleming is right. amazing times.

im hoping that the tradition of the father paying for the wedding is now old hat. with four potential weddings i hope me stx/hzn grow big bloody wings! i never give advice on anything but i will say this. everyone will tell you their baby is a perfect sleeper. they are all lying! and if you ever wanted to read a parenting book try "nurtureshock". if you pm me happy to send to you. my wife read me chapters. i much prefer irvine welsh.

happy fatherhood fellas!

yes. your lack of lactation will shee you chastised for remainder of your life.

[fnb10]

Hi guys, new trader here. what does 100% under written mean? i am not sure whether to proceed with the rights issue or not, hence this question.
Cheers
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