AVZ Minerals halted with news pending of binding offtake agreementDespite a global pandemic, chairman John Clarke said the company had delivered significant progress for its world-class Manono Lithium and Tin Project in the DRC.
https://static1.*.com.au/thumbs/upl...17-15-34_96a619612f50deb78b8aebe7b2ee8bfb.jpgThe halt is in place until Tuesday, December 29, or when an announcement is released.
AVZ Minerals Ltd (
ASX:AVZ) has been granted a trading halt by the ASX with an announcement pending in relation to a binding offtake agreement.
This halt will remain in place until the beginning of ASX trade on Tuesday, December 29, or when an announcement is released to the market, whichever occurs earlier.
The company has a market capitalisation of approximately A$269.5 million and shares last traded at 9.8 cents.
“Significant progress”Last month, the company’s non-executive chairman John Clarke told the company’s annual general meeting that despite a global pandemic the company had delivered significant progress for its world-class Manono Lithium and Tin Project in the DRC.
Clarke said: “Our team is diligently working towards securing multiple offtake agreements and project finance deals and, while we would all like these deals to have been signed and delivered, it does take time and effort to make sure the company secures the ‘right’ offtake agreement and the ‘right’ finance deal for the long-term benefit of AVZ.
“The company believes, once these contracts are executed, the board will be ready to make a final investment decision to mine our flagship project.”
Financing optionsAVZ is also progressing negotiations around financing options with several entities in Australia, Europe, the Middle East and South Africa.
Besides this, the company has made progress in discussions on the creation of a Special Economic Zone in Manono and the potential refurbishment of the Mpiana Mwanga Hydro-Electric Power Plant.
Notice no mention of CHINA! 
