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AVZ Minerals' shareholders win big through option conversion

Shareholders are making six-bagger gains from the conversion of $0.03 options.

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Drilling at Manono is nearing

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

Quick facts: AVZ Minerals Ltd

Price: 0.054 AUD

ASX:AVZ
Market: ASX
Market Cap: $153.28 m
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