I don't think It is a typo. The first 5% of additional interest from Dathomir has already been confirmed but not fully paid. AVZ are required to pay $5M to actually complete that transtion. Upon payment of this &5m, AVZ's interest in Manono project will be 65%.
And and I feel like, 1. This equity placement was a pre-condition for a binding offtake agreement with CATL 2. CATL did not get involve in equity placement but its associates company where it has large investment got the placement 3. Chinese altogether increasing share holding for a future take over 4. Huayou will have to buy on or off market to maintain 10% holding 5. This is all depends on Shareholder's voting at the next AGM.
overall it is a good announcement where I see more positives than negatives.
AIMO
AVZ Price at posting:
4.6¢ Sentiment: Hold Disclosure: Held