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78.0¢ avz minerals limited

Few Points from the AGM, page-113

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19/12/18

00:22

Post #: 36899929
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Originally posted by Smiile: ↑

First post for me, newbie investor in shares – thought Iwould go along to the AGM.

Was really helpful to meet up with Ronin1 and others – deep respectfor you guys who, along with Deboss, asked the important questions!

Some summary comments from NF I noted whilst he gave hisaddress/presentation. Disclaimer – they are my understanding of what he saidand may can be seen out of context! DYOR. They are:

Address/AGM:
There is only one other larger resource (withlower grades) and “we will be knocking that off soon”
China “recognises the resource”
“Grade is king” and “we can get above 6%concentrate” and “we can bring the grade of iron oxide down to 0.44%”
“ICE will be a thing of the past within 5 years”
“..the industry is falling short on output”
“Not stepped into the feasibility study yet butdoing prep”
Discussing OT “with various including outside China”“to put us into production”
Still looking at “various options” re transport/roads– I took this to mean outside of what is already available (Later mentioned inpresentation that they are “investigating other routes as well”).
“Share price has floundered” and Nigel expects “Lithiumprocess will be up and running next year”
Nigel is “going to Beijing next month”. As yetcautious OT and China because “If one company gets involved then the others stayaway” (Need the right deal first).
Re alleged non-disclosed MOU. Nigel couldn’t discussbut no further info would be made available because its “not going to happen”.

Presentation (Nigel and other board members)
Will “be a billion tons if we keep going down” (Nigel’sspeculation)
“Possibly do a blasting trail next year”
“Will take 3 to 4 months to pump the water out”
The pegmatite/lithium is “really hard”
The Governor is onboard – motivated to get roads/bridgesbuilt to assist development of a link into the south west of DRC (also saidseeing him on a regular basis)
Likely to get a good tax concession (cant recall%)
Simplest route is Dar es Salaam – various roadsneed to be built and two major bridges. One bridge being built now. (Thesebeing progressed via Governer).
Barges/ferry – (got a bit lost on comments here)
Rheet (who is a civil engineer) says that whathe has observed re road/bridge – looks like good/well built
Current scoping study has power via diesel.Hydro power also being explored. Likely to cost “$50m to get the plant back infull working order” and “$10m to get one turbine powered up and working = 9mw)
Re 30% DRC gov shareholding – is a free carryinginterest. Likely to assist when getting permits ect.
There is no more drilling planned
Have $4.4m in the bank today (diff topresentation due to payments made)
Will have to do financing, OT and/or have “cornerstoneinvestor”.
Definitely looking to sell tin/poss Tantalum –need metallurgic assessments
OT – explore in the new year.
Possible new engineer project manager (Board member?)re mine building look to appoint in Jan 2019
Share price falls – doesn’t know why other thanappears to be
Wont be selling any of the resource – would createcompetitor
Election in DRC – no current oppositioncandidate atm so don’t foresee any changes. Have good relationship with themines minister.
Main challenge going forward is the transportroute (other aspects of the project all okay).

Overall I found it aninteresting experience – got the impression that being at the AGM and voting doesn’treally change the outcome (most votes already cast and in favour). Was helpfulto hear comments as well as read information – couldn’t stay to speak directlywith board members but there was an opportunity to be able to do that.

I still have hope that AVZ will get to production and feelthat those involved are working hard towards that – lots of challenges ahead andI will remain in for the long term.

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It makes me wonder sometimes the goldfish memory of some on here so I’ve replied to this for any that missed this great post & previous posts on this thread that can be bothered reading back a bit

GLTAH
AVZ Price at posting: 7.2¢ Sentiment: None Disclosure: Held
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