Ann: Manono Project Operational Update, page-3

Manono Lithium and Tin Project Operational Update

Highlights:
• Definitive Feasibility Study 82% completed
• Dewatering at Roche Dure Pit enters final stages
• Positive results from Phase 2 metallurgical test work received
• AVZ Power negotiations regarding the Mpiana Mwanga HEP station continue positively
• Transport studies continue with new options emerging
• Discussions with Dathcom stakeholders advancing to increase current AVZ ownership in the project

AVZ Minerals Limited (ASX: AVZ, “the Company” is pleased to provide an operational update on the Manono Lithium and Tin Project (“Manono Project”. The Definitive Feasibility Study (“DFS” is progressing well and remains on track to be delivered in Q1 2020. The DFS is currently 82% completed.

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Equity in the Manono Project Favourable discussions continue with senior ministers on securing extra equity in the project from AVZ’s Joint Venture partners, La Congolaise D’Exploration Miniere and also with Dathomir Mining Resources SARL.

AVZ’s Managing Director, Nigel Ferguson said: “The Company remains on track to deliver its Definitive Feasibility Study in Q1 2020. We continue to investigate our export routes and are looking to secure DRC Government benefits by way of supportive tax incentives and exemptions early in 2020. “Furthermore, we are in ongoing discussions with a number of interested parties around longer term partnerships involving offtake and debt financing. It is expected that the completion of the DFS will solidify these discussions into meaningful financing of the project. “All in all, we achieved significant progress during 2019 and we look forward to another exciting 12 months ahead for our world-class Manono Project.”


Roll on Q1 2020 I say