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AVZ Minerals remains on track with DFS for Manono Project

The definitive feasibility study (DFS) is 82% complete and on track for delivery in the March quarter 2020.

AVZ Minerals Ltd - AVZ Minerals remains on track with DFS for Manono Project
AVZ holds 60% of the Manono Project with rights to secure additional interests

AVZ Minerals Ltd (ASX:AVZ) has confirmed it remains on track for completing its definitive feasibility study (DFS) on the Manono Lithium and Tin Project in the southern Democratic Republic of Congo (DRC).

The dewatering at the Roche Dure Pit has entered its final stages and positive results have been received from the phase II metallurgical test work.

Other ongoing work includes that related to power supply, transport studies, and increasing ownership in the project.

On track for delivery in March quarter

AVZ’s managing director Nigel Ferguson said: “The company remains on track to deliver its definitive feasibility study in Q1 2020.

“We continue to investigate our export routes and are looking to secure DRC Government benefits by way of supportive tax incentives and exemptions early in 2020.

Discussions ongoing with potential partners

“Furthermore, we are in ongoing discussions with a number of interested parties around longer-term partnerships involving offtake and debt financing.

“It is expected that the completion of the DFS will solidify these discussions into meaningful financing of the project.

“All in all, we achieved significant progress during 2019 and we look forward to another exciting 12 months ahead for our world-class Manono Project.”

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