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AVZ avz minerals limited

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Ann: Manono Lithium Project drilling program, page-110

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ddzx

37,911 Posts.

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30/05/18

13:12

Post #: 33374737
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Originally posted by bpinvestnstocks ↑

"From previous announcements I thought they had holes from 6-12 at the lab and was expecting assays, overdue by over 2 weeks by their own previous announcement. Here is the statement from P1 from the 30th of April announcement.......
"Assay results from holes MO18DD006 - MO18DD012 are anticipated to be received in the next two weeks""

I thought that too.

Management's poor performance in communication and governance is starting to be a drain on the stock price in my opinion. I saw Nigel Ferguson on some videos and actually liked the guy. He seemed down to earth and came across as a fairly ordinary bloke just telling the story of his company without any personal ego coming across. But he is not performing as a Managing Director in my opinion - he is still dropping the ball on communication with shareholders and has dropped the ball on governance (as per the ASX inquiries).

They speak English in North America. Couldn't Nigel speak to the North Americans. Seems the only thing JNS did last time was hook up one north american investor who was a client of a canadian broker and that north american investor came on at a significant discount to the share price. Didn't seem like a great deal. Frankly I'm concerned a similar result might see AVZ announcing another anonyous placement at 10cents plus options - I just don't see AVZ as appealing to north americans given all the chinese involvement already, including in the road construction, and the difficulties of their ever getting a controlling stake.

Could not the ALS pre-processing have been done on-site earlier than this?

Perhaps, we are not getting explanations as to why previous estimates and anticipations weren't met because AVZ management have been relying on what they were told or have been reluctant to explain in announcements that they had difficulties in the DRC with organisations or processes publicly (moving the pre-processing to site rather than Lubumbashi might be consistent with this) when they need to continue working there. Perhaps. But in the absence of any explanation from management as to why their previous guideances are not met, the market naturally starts to wonder about the competence of management that is making the announcements.

Rant over.

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i was not a shareholder at the time but the 25 cent raising was an excellent raising. raising $15M at an excellent price obviously requires a discount

26 February 2018
AVZ TO RAISE $15 MILLION TO FUND PHASE 2 DRILLING AND PRE-FEASIBILITY
AT THE MANONO PROJECT
Highlights
• $15M placement to North American institutional investor
• Funds to be used for planned Phase 2 drilling and pre-feasibility programs at the Manono project
The Board of AVZ Minerals Limited (ASX: AVZ) is pleased to announce that it has mandated Cantor Fitzgerald Canada Corporation (“Cantor”), part of a global financial services firm, to manage a $15 million capital raising. Cantor has received a firm commitment for 100% of the placement from one of its North American institutional clients.

Last edited by ddzx: 30/05/18

AVZ Price at posting: 15.0¢ Sentiment: Buy Disclosure: Held
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