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AVZ Minerals in trading halt with Strategic Economic Zone update pending

The trading halt will remain in place until Wednesday, February 19, or when an announcement is released.

AVZ Minerals Ltd - AVZ Minerals in trading halt ahead of Strategic Economic Zone development news
The company is focused on developing the Manono project, potentially one of the world’s largest lithium-rich LCT pegmatite deposits

AVZ Minerals Ltd (ASX:AVZ) has an update pending in regard to the Strategic Economic Zone development and has been granted a trading halt by the ASX.

The trading halt will remain in place until that start of normal trading on Wednesday, February 19, or when an announcement is released to the market, whichever occurs earliest.

AVZ's shares last traded at 8.2 cents, up from 4.3 cents on January 10.

DFS on track for March release

The company remains on track to release a definitive feasibility study (DFS) for the Manono Lithium and Tin Project in the DRC by March 31, 2020, with the study around 95% complete.

Pit dewatering is also progressing at Roche Dure with works 99% complete as minor pit floor clean up and the final dewatering of residual water continues.

Managing director Nigel Ferguson recently said: “We are no longer an exploration company having commenced site works for mining and are migrating towards becoming a fully-fledged mining company.

“With the DFS expected soon, financing and offtakes to soon follow, we are stepping up to ensure a successful mining operation is established at Manono.”

Quick facts: AVZ Minerals Ltd

Price: 0.061 AUD

ASX:AVZ
Market: ASX
Market Cap: $166.84 m
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