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AVZ Minerals halted ahead of investment update announcement

The company is focused on developing the Manono Project, potentially one of the world’s largest lithium-rich LCT (lithium, caesium, tantalum) pegmatite deposits.

AVZ Minerals Ltd - AVZ Minerals in trading halt ahead of Yibin Tianyi Lithium Co Ltd strategic investment update
The Manono project is in the south of the Democratic Republic of Congo in central Africa

AVZ Minerals Ltd (ASX:AVZ) is in a trading halt pending an announcement in relation to an update on a strategic investment by Yibin Tianyi Lithium Co Ltd.

The trading halt will remain in place until the beginning of regular ASX trading on Thursday, April 2, or when an announcement is released to the market, whichever occurs earliest.

Shares last traded at 5.2 cents, up from 4.5 cents on March 23.

Manono preliminary recoveries

Last week shares rose about 7% after AVZ revealed preliminary recoveries from the Manono Lithium and Tin Project in the Democratic Republic of Congo.

Managing director Nigel Ferguson said at the time: “As part of the recent flotation test program, we now have initial recovery figures for the tin and tantalum from the undersize, -0.5 millimetre fraction, that can be compared for the first time to the dense media recoveries for these metals from the Phase 2 metallurgical program.

“This has allowed us to complete a mass balance for the heavy mineral fractions for the first time.”

Testing has shown that tin and tantalum is well liberated and easily recoverable from the -0.5 millimetre material.

Six initial broad spaced, non-representative, alluvial tin and tantalum samples were produced from the test-work, which AVZ believes shows ‘exciting upside potential’.

Quick facts: AVZ Minerals Ltd

Price: 0.064 AUD

ASX:AVZ
Market: ASX
Market Cap: $175.04 m
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