AVB, significance of 6.8c close on Friday

I think I used to be smarter or more fleet-footed.

On 21/9/2010, I bought 100,000 AVB at 4.9c.  The next day, it announced a good copper find and the share price went up to 7.4c. I sold that parcel of ordinary shares (after one day) and made a very nice profit.

I used the money to buy options at 5.3c, to be exercised in March 2012 at 1.5c.  Hence, the option+exercise price was 6.8c, ie, lower than the ordinary share price on that day.  Unfortunately, AVB has been up and down since then but last Friday, it hit 6.8c again.  Because Vale is interested in AVB's banded iron (interspersed with gold bands), the market is starting to notice AVB.

The above is just one section of my AVB shares.  I bought ordinary shares at mostly at 2.0 and 2.1c in August 2010.  So I have a very nice profit out of this stock.  But I did buy a smaller parcel of options at 13.5c when AVB went ballistic.  This is a relative big loss but in absolute term, overall, I am still at more than 200% profit over 2 years with AVB.  And expecting more... as the exploration is only in small parts of its tenements (but the best parts).