Ann: Response to ASX Price Query, page-8

“No, the Company is not aware of any other explanation for the recent trading in its securities. We note that over the last 20 trading days, the AVZ share price has traded in the range of $0.23 to $0.30. The Company also recently completed a capital raising, as announced on 28 February 2018, at a price of $0.25 per share. The intraday high you refer to in the Price Query Letter of $0.255 is well within the range of trading prices during the month of March 2018.
On 2 June 2017, the Company announced that it had appointed Airguide International Pte Limited (“Airguide”) as its Strategic Advisor to facilitate and advise the Company on key relationships and a broader work program aimed at securing value-added commercial agreements with relevant counter-parties in China. Mr Michael Langford is one of Airguide’s principals.
As announced on 13 March 2018 the Company signed an MOU with Beijing National Battery Technology Co (“BNB”) for potential investment and offtake opportunities
  AVZ Minerals Limited ABN 81 125 176 703
Level 2, Suite 9, 389 Oxford Street, Mt Hawthorn, WA, 6016 T + 61 8 9380 6789 F + 61 8 9380 6761 E: [email protected] W: www.avzminerals.com.au
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AVZ Minerals Limited

with the Company. BNB was introduced to the Company by Airguide. During this week representatives of BNB visited the Manono Lithium Project in the Democratic Republic of Congo with AVZ Management and Airguide representatives, including Mr Langford, in their capacity as a strategic advisor to the Company.
The Company has been made aware of the Twitter Posts referred to in the Price Query Letter. The Company is currently completing a 20,000 metre drilling program at the Manono Lithium Project with an initial focus on the Roche Dure Pegmatite. The Company has previously released drilling results on this pegmatite on 28 July 2017 and 12 September 2017 reporting intersections of 202.8 metres @ 1.57% Li2O and 1078ppm Sn and 235.03 metres @ 1.66% Li2O and 1078ppm Sn respectively. The Company made further announcements in relation to the current drilling program on 19 February 2018 (drill hole MO18DD001 intersected 295.05m of pegmatite) and 6 March 2018 (drill hole MO18DD002 intersected 282.95m of pegmatite) and also provided visual estimation of spodumene contents ranging from 10% up to 40%. The Company has also previously advised of an exploration target for the entire Manono Project, including an exploration target for the Roche Dure Pegmatite alone. The pictures of the core shown in the Twitter Posts are from drill holes MO17DD001, MO17DD002 and MO17DD003 for which the Company released the results to the market on 12 September 2017, 28 July 2017 and 22 August 2017 respectively. The Company does not consider the Twitter Posts provide an explanation for the recent trading in its securities.”