Proactiveinvestors Australia AVZ Minerals Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia AVZ Minerals Ltd RSS feed en Sun, 16 Jun 2019 20:58:58 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - AVZ Minerals receives strong drilling results at Manono Lithium and Tin Project in DRC ]]> https://www.proactiveinvestors.com.au/companies/news/215765/avz-minerals-receives-strong-drilling-results-at-manono-lithium-and-tin-project-in-drc-215765.html AVZ Minerals Ltd (ASX:AVZ) has received strong results from mineral resource drilling in two diamond holes at its Manono Lithium and Tin Project in the Democratic Republic of Congo.

The diamond holes were drilled at Carrier de l’Este returning an average grade of more than 2% lithium oxide and with drill core recovery of more than 97% in the pegmatite.

Results confirm the continuity of the Carriere de l’Este pegmatite under alluvial cover and shallow dipping high-grade intersections present within wider zones of well-mineralised spodumene pegmatite.

READ: AVZ Minerals’ scoping study reveals US$1.6 billion net present value for lithium project in DRC

AVZ Minerals managing director Nigel Ferguson said: “These last two holes drilled at Carriere de l’Este are of the same lithium grade tenor and intersection widths as those reported on previously.

“Both holes 5 and 6, have drilled through high-grade zones averaging over 2% lithium oxide mineralisation which was also seen on holes spaced 200 metres along strike.

“Hole 5, for example, generated 56 by 1-metre assays greater than 2% lithium oxide with a maximum value in one sample of 3.97% from 166 to 167 metres deep.

“In excess of 50% spodumene”

“Hole 6 was comparable with 97 samples returning values greater than 2% including five individual samples grading greater than 4% lithium oxide which equates to each of the five samples containing in excess of 50% spodumene.

“The highest value from hole 6 was from 181 to 182 metres downhole and reported 4.65% lithium oxide.”

“Higher-grade zones within well-mineralised pegmatite”

Ferguson said: “Carriere de l’Este is unlike Roche Dure in that it has higher grade zones within well-mineralised pegmatite.

“Depending on future drilling, this may open up possibilities for high-grade blending with Roche Dure mineralisation to shorten payback periods and is definitely worth considering as we move through the mining study phase currently underway.”

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Tue, 05 Mar 2019 13:37:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215765/avz-minerals-receives-strong-drilling-results-at-manono-lithium-and-tin-project-in-drc-215765.html
<![CDATA[News - AVZ Minerals’ scoping study reveals US$1.6 billion net present value for lithium project in DRC ]]> https://www.proactiveinvestors.com.au/companies/news/206628/avz-minerals-scoping-study-reveals-us16-billion-net-present-value-for-lithium-project-in-drc-206628.html AVZ Minerals Ltd (ASX:AVZ) has revealed a pre-tax, pre-royalties net present value of about US$1.6 billion (AVZ’s 60% share: US$0.93 billion) for the Manono Lithium Project in the Democratic Republic of Congo (DRC).

The company’s scoping study has projected annual production of about 440,000 tonnes per annum (tpa) at a minimum of 5.8% lithium oxide concentrate from Case 1 throughput of 2 million tonnes per annum (mtpa) of pegmatite ore.

Key operating parameters

AVZ managing director Nigel Ferguson said: “The AVZ Minerals Board is extremely pleased with the results of the independent studies and intends to immediately commence a full feasibility study.

“The studies undertaken not only demonstrate the potential for excellent economic outcomes, but also highlight the long-life, low-cost qualities typical of world-class Tier 1 assets.

“The Manono Lithium Project is now the largest undeveloped hard rock lithium project globally in terms of grade, mine life and expandability.

“We are confident that the project economics can be improved further, especially in the areas of transport, processing, power costs by utilising a refurbished hydro plant at Piana Mwanga and the recovery of tin as a by-product which can add considerable value to the bottom line and has not been included in any financial modelling.”

Estimated timeline to commissioning

The positive outcome from the scoping study for 2 mtpa provides options for up to a 10 mtpa open pit mining operation.

AVZ’s scoping study for the 4 mtpa (Case 2) and a 10 mtpa (Case 3) is currently in progress.

The metallurgical test work and the full feasibility study is expected to take six months to complete and is planned to be delivered by Q2 2019.

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Tue, 09 Oct 2018 13:55:00 +1100 https://www.proactiveinvestors.com.au/companies/news/206628/avz-minerals-scoping-study-reveals-us16-billion-net-present-value-for-lithium-project-in-drc-206628.html
<![CDATA[News - AVZ Minerals drills record 341.62 metre lithium pegmatite intersection in DRC ]]> https://www.proactiveinvestors.com.au/companies/news/199771/avz-minerals-drills-record-34162-metre-lithium-pegmatite-intersection-in-drc-199771.html AVZ Minerals Ltd (ASX:AVZ) has recorded the largest lithium pegmatite intersection to date from its Manono Lithium Project in the Democratic Republic of Congo.

The intersection was drilled as part of AVZ’s ongoing 20-kilometre drilling program, results from which will be used to establish a maiden lithium resource estimate in July.

Intercepts with excellent grades of lithium and tin

The 341.62 metre intersection included an upper interval of weathered rock beneath which the fresh-rock intersection was 302.10 metres down-hole length at 1.54% lithium and 875ppm tin.

An adjacent hole intersected 299.88 metres of the Roche Dure pegmatite, with the fresh-rock interval being 268.75 metres down-hole length at 1.55% lithium and 751ppm tin.

A third drill-hole intersected 303.16 metres of this pegmatite, with the fresh-rock interval being 278.96 metres down-hole length at 1.58% lithium and 1053ppm tin.

 

Additional drilling is required to confirm the true thickness of the pegmatites.

AVZ’s managing director Nigel Ferguson said: “This bodes well for the calculation of the maiden JORC compliant mineral resource in July and ongoing drilling for the complete pegmatite body and updated resource calculations.”

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Thu, 28 Jun 2018 17:47:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199771/avz-minerals-drills-record-34162-metre-lithium-pegmatite-intersection-in-drc-199771.html
<![CDATA[Media files - AVZ Minerals bullish on expectations for DRC lithium project ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9147/avz-minerals-bullish-on-expectations-for-drc-lithium-project-9147.html Thu, 26 Apr 2018 14:24:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9147/avz-minerals-bullish-on-expectations-for-drc-lithium-project-9147.html <![CDATA[News - AVZ Minerals in trading halt responding to ASX query, lithium drilling continues ]]> https://www.proactiveinvestors.com.au/companies/news/194895/avz-minerals-in-trading-halt-responding-to-asx-query-lithium-drilling-continues-194895.html AVZ Minerals Ltd (ASX:AVZ) entered a trading halt yesterday pending the release of a response to an ASX query.

Notably, over the past 12 months, shares have rallied from 2.8 cents in April 2017 to a high of 37 cents in January 2018.

Shares last traded at 22.5 cents before being halted.

Focused on developing the Manono Project

AVZ is focused on developing the Manono Project in the south of the Democratic Republic of Congo (DRC).

Manono is potentially one of the world's largest lithium-rich LCT (lithium, caesium, tantalum) pegmatite deposits.

Drilling at its present rate will allow an initial JORC resource calculation by the end of the June quarter 2018.

20,000-metre resource drilling program progressing well

Most recently, AVZ provided a drilling update, where it outlined that four drill rigs were now on-site concentrating on the Roche Dure pegmatite.

The company’s 20,000-metre resource drilling program commenced in early February 2018 and is well funded considering AVZ raised $15 million later that month.

Following completion of drill holes MO18DD001 and MO18DD002, detailed on 19 February and 6 March respectively, progress has been made with the completion of six additional drill-holes.

Impressively, each of the first two holes intersected over 280 metres of pegmatites each.

Assay results are anticipated to be received before the end of the month.

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Fri, 13 Apr 2018 08:44:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194895/avz-minerals-in-trading-halt-responding-to-asx-query-lithium-drilling-continues-194895.html
<![CDATA[News - AVZ Minerals extends strike ahead of 20,000 metre drilling program ]]> https://www.proactiveinvestors.com.au/companies/news/189215/avz-minerals-extends-strike-ahead-of-20000-metre-drilling-program-189215.html AVZ Minerals Ltd (ASX:AVZ) has intersected significant thicknesses of lithium-mineralised pegmatites within the Manono and Kitotolo sectors of its Carrier De L’est prospect.

The pegmatite is located in the Democratic Republic of Congo.  

The presence of lithium mineralisation within pegmatite in this area increases the all the best strike length of the Carrier De L’est pegmatite by some 750 metres.

Mapping has established that within the “extension corridor” the Carrier De L’est pegmatite outcrops within an area of approximately 100 square metres. 

The additional work also comprised pitting and grab sampling of pegmatites, and the results of these activities will come to hand in 2018.

High-grade samples collected from fresh pegmatite

Infill and extensional sampling that has been undertaken in recent months has progressively featured high-grade lithium mineralisation.

Results ranged from a minimum of 1.43% lithium to a maximum of 4.46% lithium for 12 samples collected from fresh pegmatite.

Consequently, results from the current sampling program will be much anticipated.

20,000 metre drilling program to commence in January

AVZ is of the view that the Carrier De l’est pegmatite is at least 5500 metres long.

This additional, potentially high-grade zone of 750 metres indicates that the full strike length of this pegmatite is, not fully defined.

Consequently, much hinges on the 20,000 metre drilling program that should be completed by circa March/April 2018.

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Fri, 22 Dec 2017 13:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189215/avz-minerals-extends-strike-ahead-of-20000-metre-drilling-program-189215.html
<![CDATA[News - AVZ Minerals joins $500M club as investors bet on lithium potential in Africa ]]> https://www.proactiveinvestors.com.au/companies/news/186661/avz-minerals-joins-500m-club-as-investors-bet-on-lithium-potential-in-africa-186661.html AVZ Minerals Ltd’s (ASX:AVZ) market cap crossed $500 million intra-day on Thursday as it prepares for drilling at the world-class Manono Lithium Project in the Democratic Republic of Congo.

The company’s share price has increased sevenfold during the past six months, last closing at $0.275.

Last week, AVZ entered into a contract to complete an initial 20,000 metres of drilling at Manono.

READ NOW: AVZ Minerals to start drilling world-class lithium project in Africa

The contract covers the initial 20,000 metre phase of a planned 40,000 metre drill program to define the resources at the Kitotolo and Manono Sectors of the Manono project.

The 20,000 metre program is expected to take 3 months to complete.

AVZ is planning to commence the drilling in December, and will initially target the Roche Dure pegmatite, Kitotolo Sector, where recent drilling returned the following results:

- 235 metres at 1.66% lithium oxide from 24.5 metres; and
- 202.8 metres at 1.57% lithium oxide from 65.5 metres.

Significantly, the results from preliminary drilling indicate that the Manono pegmatites could potentially be one of the largest hard rock sources of lithium in the world.

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Fri, 03 Nov 2017 08:41:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186661/avz-minerals-joins-500m-club-as-investors-bet-on-lithium-potential-in-africa-186661.html
<![CDATA[News - AVZ Minerals' shareholders win big through option conversion ]]> https://www.proactiveinvestors.com.au/companies/news/186229/avz-minerals-shareholders-win-big-through-option-conversion-186229.html AVZ Minerals Ltd's (ASX:AVZ) shareholders are cashing in on the surging share price, with circa 3.7 million $0.03 options being converted into fully-paid shares.

With the company last trading at $0.19, this provides a six-bagger.

There is the potential for plenty more to come, with 214 million options outstanding exercisable at $0.10 on or before 15 April 2019.

AVZ has now outlined its drilling program at the Manono Lithium Project, which has the potential to be one of the largest hard rock sources of lithium in the world.

READ NOW: AVZ Minerals to start drilling world-class lithium project in Africa ]]>
Thu, 26 Oct 2017 11:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186229/avz-minerals-shareholders-win-big-through-option-conversion-186229.html
<![CDATA[News - AVZ Minerals to start drilling world-class lithium project in Africa ]]> https://www.proactiveinvestors.com.au/companies/news/186149/avz-minerals-to-start-drilling-world-class-lithium-project-in-africa-186149.html AVZ Minerals Ltd (ASX:AVZ) has entered into a contract to complete an initial 20,000 metres of drilling at the Manono Lithium Project in the Democratic Republic of Congo.

The contract covers the initial 20,000 metre phase of a planned 40,000 metre drill program to define the resources at the Kitotolo and Manono Sectors of the Manono project.

The 20,000 metre program is expected to take 3 months to complete.

AVZ is planning to commence the drilling in December, and will initially target the Roche Dure pegmatite, Kitotolo Sector, where recent drilling returned the following results:

- 235 metres at 1.66% lithium oxide from 24.5 metres; and 
- 202.8 metres at 1.57% lithium oxide from 65.5 metres.

Significantly, the results from preliminary drilling indicate that the Manono pegmatites could potentially be one of the largest hard rock sources of lithium in the world.

AVZ’s share price has increased sixfold during the past six months, last trading at $0.207.

READ NEXT: AVZ Minerals shares hit record high on world-class lithium potential

The Roche Dure pegmatite holds potential for significant lithium and tin mineralisation given the expected thickness of up to 220 metres and a potential strike length of circa 2,100 metres.

Earlier in the month AVZ signed a memorandum of understanding with Shanghai Greatpower Industry Co., Ltd for potential investment in the company and off-take opportunities.

Greatpower is headquartered in Shanghai with operations in the Democratic Republic of Congo.

It is an integrated commodity group with a focus on sourcing and producing battery raw materials and products for the battery sector in China.

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Wed, 25 Oct 2017 12:33:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186149/avz-minerals-to-start-drilling-world-class-lithium-project-in-africa-186149.html
<![CDATA[News - AVZ Minerals shares hit record high on world-class lithium potential ]]> https://www.proactiveinvestors.com.au/companies/news/185985/avz-minerals-shares-hit-record-high-on-world-class-lithium-potential-185985.html AVZ Minerals Ltd's (ASX:AVZ) shares continue to rocket higher as the latest results from the Manono Lithium Project show the potential that it could be the largest hardrock source of lithium in the world.

Shares last traded at $0.185, and have peaked at $0.19.

By 1pm today, circa 13 million shares have changed hands for a market value of $2.3 million.

Looking back, shares could have been snapped up for a couple of cents at the start of 2017.

Latest news

AVZ is progressing drilling to define a compliant resource under the 2012 JORC Code at the Roche Dure Pegmatite.

Initial results support the potential for high value ore.

The company then has a number of other large pegmatites to target at the project for resources.

Off-take

Earlier in the month the company signed a Memorandum of Understanding with Shanghai Greatpower Industry Co., Ltd for potential investment in the company and off-take opportunities.

Greatpower is headquartered in Shanghai with operations in the Democratic Republic of Congo.

It is an integrated commodity group with a focus on sourcing and producing battery raw materials and products for the China battery sector.

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Mon, 23 Oct 2017 13:13:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185985/avz-minerals-shares-hit-record-high-on-world-class-lithium-potential-185985.html
<![CDATA[News - AVZ Minerals discovers largest pegmatite within the Manono Kitotolo system ]]> https://www.proactiveinvestors.com.au/companies/news/184094/avz-minerals-discovers-largest-pegmatite-within-the-manono-kitotolo-system-184094.html AVZ Minerals Ltd (ASX:AVZ) shares are set to be actively traded at the open, with the company revealing the latest drilling results from the Manono Lithium Project, located in the Democratic Republic of Congo (DRC).

The Carriere de L’Est Pegmatite, with a length of about 5,500 metres, is the largest pegmatite in the project.

Highlights from MO17DD007 include: 250.93 metres at 1.48% lithium and 913ppm tin from 1.9 metres.

The thickness of intersected pegmatite and the geometric relationship between the location of MO17DD007 and mapped pegmatite boundaries suggests the thickness of the pegmatite may be 280 metres.

The next drilling program will be focussed on resource definition, extension drilling and initial mineralogical test-work.

About Manono

The Manono Project is held by AVZ Minerals (60%), a DRC State-owned enterprise (30%) and Dathomir Mining Resources SARL (10%).

AVZ recently secured a commitment to raise $13 million from a subsidiary of Huayou Cobalt, the largest cobalt chemicals producer in China, via the issue of shares at $0.07 each.

The company last traded at $0.125.

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Mon, 18 Sep 2017 09:55:00 +1000 https://www.proactiveinvestors.com.au/companies/news/184094/avz-minerals-discovers-largest-pegmatite-within-the-manono-kitotolo-system-184094.html
<![CDATA[News - AVZ Minerals drills exceptionally wide lithium intersection at Manono project ]]> https://www.proactiveinvestors.com.au/companies/news/183788/avz-minerals-drills-exceptionally-wide-lithium-intersection-at-manono-project-183788.html AVZ Minerals Ltd (ASX:AVZ) has drilled an exceptionally wide intersection of 235 metres at 1.66% lithium from 24.5 metres at its Manono Lithium Project in the Democratic Republic of the Congo (DRC).

The company’s shares were last trading circa 6.9% higher intra-day, at $0.155.

Importantly, the highlight drill-hole extends the proven length of the Roche Dure Pegmatite at the Manono Lithium Project to at least 2,100 metres.

The pegmatite’s average true thickness is interpreted to be 200 metres and the latest drilling has proven the pegmatite extends down-dip more than 250 metres and remains open.

The assay results for the samples from the Roche Dure Pegmatite included significant results for tin, with 37% of samples exceeding 1000 ppm tin and a peak concentration of 9110 ppm tin.

Following the breakthrough drilling, AVZ has upgraded the exploration target at Manono to between 1 to 1.2 billion tonnes at 1.25% to 1.5% lithium.

The latest results confirm that the Manono Lithium Project is world-class in both size and grade.

AVZ is now awaiting results from another drill hole, which intercepted pegmatite over at least a 240-metre true thickness.

The Manono Project is held by AVZ Minerals (60%), a DRC State-owned enterprise (30%) and Dathomir Mining Resources SARL (10%).

AVZ recently secured a commitment to raise $13.02 million from a subsidiary of Huayou Cobalt, the largest cobalt chemicals producer in China, via the issue of shares at $0.07 each.

The company’s share price has increased by circa 356% in the past three months.

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Tue, 12 Sep 2017 11:11:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183788/avz-minerals-drills-exceptionally-wide-lithium-intersection-at-manono-project-183788.html
<![CDATA[News - AVZ Minerals gives timeline for final assays from Manono lithium project ]]> https://www.proactiveinvestors.com.au/companies/news/183484/avz-minerals-gives-timeline-for-final-assays-from-manono-lithium-project-183484.html AVZ Minerals Ltd's (ASX:AVZ) highly anticipated final drilling samples from the Manono lithium project have arrived in Perth and are currently being processed.

The timeline has samples from hole MO17DD001 early next week, to be followed by hole MO17DD007 a week later.

Results so far have confirmed high-grade lithium mineralisation over a strike length of four kilometres.

Highlights include: 45.74 metres at 1.59% lithium from 50.5 metres at The Mpete pegmatite; and 65.86 metres at 1.51% lithium from 167 metres at the Tempete pegmatite.

The market reaction has been stunning, with shares in the company last trading at $0.13. A couple of months ago they could have been snapped up for $0.03.

Driving momentum is a $13 million investment at $0.07 from Huayou Cobalt, the largest cobalt chemicals producer in China.

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Wed, 06 Sep 2017 08:05:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183484/avz-minerals-gives-timeline-for-final-assays-from-manono-lithium-project-183484.html
<![CDATA[News - AVZ Minerals' shareholders quadruple money on option conversion ]]> https://www.proactiveinvestors.com.au/companies/news/183203/avz-minerals-shareholders-quadruple-money-on-option-conversion-183203.html AVZ Minerals Ltd's (ASX:AVZ) meteoric share price rise of late has been rewarding for those shareholders holding options, that have sprung into the money.

AVZ has just completed the conversion of 20.5 million $0.03 options, meaning the company will receive circa $615,000, but the paper value is closer to $2.2 million based on the last traded price of $0.115.

The company has also issued and allotted 7.5 million shares for zero consideration following a performance milestone being met.

AVZ now has 1.7 billion shares on issue.

The rocket in the share price came after a deal with Huayou Cobalt, the largest cobalt chemicals producer in China.

Huayou Cobalt will invest $13 million into AVZ at $0.07, with the focus to be on the Manono lithium project in the Democratic Republic of the Congo.

Recent results have confirmed high-grade lithium mineralisation over a strike length of four kilometres, with highlights including: 45.74 metres at 1.59% lithium from 50.5 metres at The Mpete pegmatite; and 65.86 metres at 1.51% lithium from 167 metres at the Tempete pegmatite.

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Thu, 31 Aug 2017 12:27:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183203/avz-minerals-shareholders-quadruple-money-on-option-conversion-183203.html
<![CDATA[News - AVZ Minerals trades 249 million shares for the week, finds comfort in valuation ]]> https://www.proactiveinvestors.com.au/companies/news/183014/avz-minerals-trades-249-million-shares-for-the-week-finds-comfort-in-valuation-183014.html AVZ Minerals Ltd (ASX:AVZ) is one of the most traded stocks on the ASX as it progresses its cobalt development strategy with funding from Huayou Cobalt, the largest cobalt chemicals producer in China.

Last week AVZ traded 249 million shares.

The company opened the week at $0.145 on Monday, before hitting a high of $0.175 for the period the next day, followed by its $0.095 low on Wednesday.

Trading though seemed to find a more comfortable range on Thursday and Friday, trading in a narrow band between $0.115 and $0.13.

Go back one-month and the shares were trading at $0.06, and a month before that were half this value.

Huayou Cobalt makes a big paper gain

Huayou Cobalt is investing $13 million into AVZ at $0.07, and based on Friday's close of $0.125, the group is sitting on a paper gain of nearly 80%, or circa $10 million.

AVZ's focus is the Manono lithium project in the Democratic Republic of the Congo.

Recent results have confirmed high-grade lithium mineralisation over a strike length of four kilometres, with highlights including: 45.74 metres at 1.59% lithium from 50.5 metres at The Mpete pegmatite; and 65.86 metres at 1.51% lithium from 167 metres at the Tempete pegmatite.

Assays have been received for five holes of the initial seven-hole drill program at the Manono project, which covers circa 188 square kilometres.

The final holes are highly anticipated.

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Mon, 28 Aug 2017 09:05:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183014/avz-minerals-trades-249-million-shares-for-the-week-finds-comfort-in-valuation-183014.html
<![CDATA[News - AVZ Minerals' share rally takes a breather after latest lithium results, more assays pending ]]> https://www.proactiveinvestors.com.au/companies/news/182829/avz-minerals-share-rally-takes-a-breather-after-latest-lithium-results-more-assays-pending-182829.html AVZ Minerals Ltd (ASX:AVZ) has been a stock market star, hitting an intra-day high of $0.175 yesterday, which at the time was a 17-bagger over the past 12-months.

Profit takers did enter pushing the stock down to close at $0.12, following the release of exploration results.

What has been driving the interest in the company was a $13 million investment from a subsidiary of Huayou Cobalt, the largest cobalt chemicals producer in China, via the issue of shares at $0.07 each.

Even at yesterday's closing price, the group is sitting on a very handy paper gain.

AVZ's focus is the Manono lithium project in the Democratic Republic of the Congo.

Recent results have confirmed high-grade lithium mineralisation over a strike length of four kilometres, with highlights including: 45.74 metres at 1.59% lithium from 50.5 metres at The Mpete pegmatite; and 65.86 metres at 1.51% lithium from 167 metres at the Tempete pegmatite.

Assays have been received for five holes of the initial seven-hole drill program at the Manono project, which covers circa 188 square kilometres.

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Wed, 23 Aug 2017 09:19:00 +1000 https://www.proactiveinvestors.com.au/companies/news/182829/avz-minerals-share-rally-takes-a-breather-after-latest-lithium-results-more-assays-pending-182829.html
<![CDATA[News - AVZ Minerals reveals high-grade lithium mineralisation at the Manono Project ]]> https://www.proactiveinvestors.com.au/companies/news/182771/avz-minerals-reveals-high-grade-lithium-mineralisation-at-the-manono-project-182771.html AVZ Minerals (ASX:AVZ) has confirmed high-grade lithium mineralisation over a strike length of four kilometres at its Manono lithium project in the Democratic Republic of the Congo (DRC).

The highlights assay results include:

- 45.74 metres at 1.59% lithium from 50.5 metres at The Mpete pegmatite; and
- 65.86 metres at 1.51% lithium from 167 metres at the Tempete pegmatite.

Assays have been received for five holes of the initial seven-hole drill program at the Manono project, which covers circa 188 square kilometres.

Importantly, three pegmatites in the Kitotolo sector have been drill tested confirming the presence of lithium, tin and tantalum mineralisation over a strike length of four kilometres.

These results support the exploration target of between 400 and 800 million tonnes at 1% to 1.5% lithium at the Kitotolo Sector alone.

Additional resources are also expected to be defined within the northern Manono Sector.

The Manono Project is currently held by AVZ Minerals (60%), a DRC State-owned enterprise (30%) and Dathomir Mining Resources SARL (10%).

AVZ is planning an extensive reverse circulation and diamond drill program to commence in early Q4 2017.

The company recently secured a commitment to raise $13.02 million from a subsidiary of Huayou Cobalt, the largest cobalt chemicals producer in China, via the issue of shares at $0.07 each.

AVZ’s share price increased by circa 271% in the past three months and was last trading at $0.115.

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Tue, 22 Aug 2017 13:19:00 +1000 https://www.proactiveinvestors.com.au/companies/news/182771/avz-minerals-reveals-high-grade-lithium-mineralisation-at-the-manono-project-182771.html
<![CDATA[News - AVZ Minerals raising $13M from the largest cobalt chemicals producer in China ]]> https://www.proactiveinvestors.com.au/companies/news/182289/avz-minerals-raising-13m-from-the-largest-cobalt-chemicals-producer-in-china-182289.html AVZ Minerals (ASX:AVZ) has secured a commitment to raise $13.02 million from a subsidiary of Huayou Cobalt,  the largest cobalt chemicals producer in China, via the issue of shares at $0.07 each.

The company is planning to use the funds for the drilling and the initial metallurgical testwork programs at the Manono lithium project in the Democratic Republic of Congo (DRC).

In addition, AVZ is also raising a further $1.98 million from institutional and sophisticated investors via the issue shares at $0.07 each.

The Manono Project is currently held by AVZ Minerals (60%), a DRC State-owned enterprise (30%) and Dathomir Mining Resources SARL (10%).

The project contains “LCT” or lithium-caesium-tantalum pegmatites which are well known for hosting significant amounts of lithium.

AVZ intends to embark on a diamond and reverse circulation drilling program commencing in the third quarter, with the objective of defining a resource by early 2018.

Huayou Cobalt or Zhejiang Huayou Cobalt Co., Ltd. is a Chinese company listed on the Shanghai stock exchange, with a market capitalisation of circa US$5.8 billion.

Huayou will acquire an 11% interest in AVZ by investing $13.02 million.

The Chinese company owns and operates a number of copper and cobalt mines in the DRC, exporting concentrates back to its processing and refining facilities in China.

The company’s proven track record in operating in the DRC, and in developing and financing mines, is expected to bring the Manono Project into production on the fastest possible timeline.

AVZ’s shares have surged by circa 140% during the last one month, closing at $0.092 on Thursday.

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Fri, 11 Aug 2017 08:42:00 +1000 https://www.proactiveinvestors.com.au/companies/news/182289/avz-minerals-raising-13m-from-the-largest-cobalt-chemicals-producer-in-china-182289.html
<![CDATA[News - AVZ Minerals to update on due diligence ]]> https://www.proactiveinvestors.com.au/companies/news/177762/avz-minerals-to-update-on-due-diligence-177762.html AVZ Minerals (ASX:AVZ) has been granted a trading halt by the ASX, pending an update on the Manono Transaction due diligence.

The Manono Project is potentially one of the largest lithium-rich LCT (Lithium Caesium Tantalum) pegmatite deposits in the world.

The halt will remain in place until the opening of trade on Wednesday 17th May 2017, or earlier if an announcement will be made to the market.

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Mon, 15 May 2017 14:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/177762/avz-minerals-to-update-on-due-diligence-177762.html
<![CDATA[News - AVZ Minerals to update on transaction ]]> https://www.proactiveinvestors.com.au/companies/news/177020/avz-minerals-to-update-on-transaction-177020.html AVZ Minerals (ASX:AVZ) has been granted a trading halt by the ASX this morning, pending an update on the Manono Transaction.

The company has recently been conducting technical due diligence.

The halt will remain in place until the opening of trade on Tuesday 2nd May 2017, or earlier if an announcement is made to the market.

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Fri, 28 Apr 2017 10:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/177020/avz-minerals-to-update-on-transaction-177020.html
<![CDATA[News - AVZ Minerals to outline capital raising ]]> https://www.proactiveinvestors.com.au/companies/news/172259/avz-minerals-to-outline-capital-raising-172259.html The halt will remain in place until the opening of trade on Tuesday, 31st January 2017, or earlier if an announcement is made to the market.

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Fri, 27 Jan 2017 10:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/172259/avz-minerals-to-outline-capital-raising-172259.html
<![CDATA[News - AVZ Minerals Ltd to lift cash balance ]]> https://www.proactiveinvestors.com.au/companies/news/169503/avz-minerals-ltd-to-lift-cash-balance-169503.html The halt will remain in place until the opening of trade on Tuesday 29th November 2016, or earlier if an announcement is made to the market.

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Fri, 25 Nov 2016 11:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/169503/avz-minerals-ltd-to-lift-cash-balance-169503.html