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AVZ Minerals in trading halt ahead of announcement on Yibin Tianyi Lithium Co placement

The trading halt will remain in place until Tuesday, March 3, or when an announcement is released to the market.

AVZ Minerals Ltd - AVZ Minerals in trading halt ahead of Yibin Tianyi Lithium Co placement update
AVZ's next milestone is the completion and release of a DFS for the Manono project

AVZ Minerals Ltd (ASX:AVZ) has been granted a trading halt by the ASX ahead of an announcement regarding an update on the Yibin Tianyi Lithium Co Ltd placement. 

The trading halt will be in place until the beginning of regular trade on Tuesday, March 3, 2020, or when an announcement is released to the market, whichever occurs earliest.

Shares last traded at 9 cents after hitting a new 12-month high of 10.5 cents on Monday, February 24.

Positive phase-II test results

The company received positive results from phase II metallurgical test work at the Manono Lithium and Tin Project in the Democratic Republic of Congo earlier this week.

The bulk test produced around 160 kilograms of concentrate of 6.1% Li2O with a 60.1% lithia recovery.

As well as delivering impressive results in terms of lithia recovery, the results also support AVZ's selected definitive feasibility study (DFS) flowsheet.

The completed phase II optimisation work demonstrated AVZ's laboratory test work is scalable to a full-size operation.

Quick facts: AVZ Minerals Ltd

Price: 0.063 AUD

ASX:AVZ
Market: ASX
Market Cap: $178.83 m
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