So, after the few days, who was right, who was not-so right:
From the ANN:
AVZ Minerals Limited (ASX: AVZ) announces it is offering by way of a prospectus, a Share Purchase Plan (“SPP”
to raise a minimum of A$5 million (up to a maximum of A$10 million before costs) to advance its Manono Lithium and Tin Project (“Project”
in the Democratic Republic of Congo (“DRC”
and for general working capital.
The SPP will afford the Company’s Eligible Shareholders the opportunity to participate and support their Company. The SPP will be underwritten to A$5 million by Patersons Securities Limited (“Patersons”
which is acting as Lead Manager and Underwriter to the offer. The New Shares (as defined below) will be issued at a 20% discount to the VWAP trading price over the 5 trading days before the date of issue of the New Shares and will only be offered to Eligible Shareholders (as defined below) free of brokerage and fees
