WRONG!
AVZ now expects the deal to be finalised in March.
AVZ Minerals (ASX:AVZ)
Lithium project developer AVZ says the completion of a $US240m cornerstone investment from CATH Technologies in the monster ‘Manono’ project will be “expedited”.
CATH will shell out the cash for a 24% direct interest, plus another ~$160m to get the ~$US540m project into development.
AVZ now expects the deal to be finalised in March.
“Finalising our agreement with CATH provides certainty of funding to progress development of the Manono Project, pending the award of our Mining Licence and Collaboration Development Agreement from the DRC Government,” AVZ’s MD Nigel Ferguson says.
“We are in close consultation with the DRC Government authorities that are undertaking the Mining Licence assessment and are confident of delivering a favourable outcome for all stakeholders.”
The stock is up from 4c to 82c since May 2019 – a gain of almost 2,000%.
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