AVZ Minerals halted with news pending on Manono Lithium and Tin Project DFS results

AVZ Minerals Ltd (ASX:AVZ) has an announcement pending in relation to definitive feasibility study (DFS) results for Manono Lithium and Tin Project in the DRC and is in a trading halt.

Securities will remain halted until the earlier of the start of normal ASX trading on Tuesday, April 21, 2020, or when the announcement is released to the market.

The company has a market capitalisation of approximately $141.3 million and securities last traded at 6 cents, up from 4.5 cents at close on March 23.

Commitments for $3.6 million placement

The company has this month received commitments for a placement of fully paid ordinary shares to raise A$3.6 million before costs.

The placement is to Lithium Plus and other eligible sophisticated and professional investors including a global institutional investor, all of whom are non-related parties.

Last week the first $1.8 million was raised through the issue of 40 million shares with the remaining half expected to be completed shortly.

Closer to Yibin Tianyi investment

AVZ has also been moving closer to a $14.1 miRead More – Source