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’.