How will the survey findings impact the company’s resource estimates and overall valuation relative to other copper projects in Newfoundland?

The VTEM survey is a high‑resolution, deep‑penetrating geophysical tool that is especially effective at mapping conductors associated with massive sulfide bodies. In the short‑term, the market will price the announcement on the basis of probability‑adjusted upside: if the survey delineates new, strong conductors over the two claim blocks, Aventis can quickly move to targeted drilling, which historically adds 30‑50 % to inferred copper tonnage for similar Newfoundland targets. That “geophysical upside” will be baked into the equity price within days to weeks, lifting the forward‑looking resource‑based valuation multiple (e.g., $/oz Cu in‑situ) toward the upper end of the peer range (≈ $0.80‑$1.10 /oz) that currently applies to more advanced projects such as the New‑Bourbon and the Bay du Nord corridor.

Conversely, if the VTEM results are muted—showing limited or shallow conductors—the company will likely have to defer or downsize its 2025 drill program, which would compress the resource forecast and pressure the market to re‑rate AVE toward the lower end of the peer multiple (≈ $0.45‑$0.60 /oz). In that scenario, short‑term traders may look for a profit‑taking bounce off the initial hype and consider a modest sell‑or‑hold stance, while longer‑term investors would await any drilling confirmation before re‑evaluating the valuation.

Actionable take‑away: Keep a watch on the technical release (expected within the next 2‑3 weeks). A positive VTEM anomaly should trigger a buy‑on‑dip or add‑to position, targeting a 5‑10 % upside as the market re‑prices the resource potential. A weak or inconclusive result warrants a partial exit or tightening of stops, especially if copper prices stay flat, since AVE’s valuation would revert to a discount relative to more advanced Newfoundland projects. In parallel, monitor peer‑group drilling updates (e.g., Vale’s Voisey’s Bay expansions) to gauge relative credit and maintain sector‑wide exposure through a basket of Newfoundland copper juniors.