$AVZ second largest shareholder, HuaYou, just releases a guide of 2017 Net profit after tax: between RMB1,650 million (A$321m) and RMB1,900 million (A$370m), up 2,283.10% - 2,644.18%.
HuaYou has been operating mines in DRC over 10 years.
HuaYou invested RMB 1.4 billion to set up a copper & cobalt mine in DRC started in December 2016, commenced production in December 2017.
Invested in AVZ, keen to take it to production.
Invested in NZC for cobalt.
JV with Posco to invest RMB 1b lithium-ion battery materials joint ventures.
AVZ Price at posting:
27.5¢ Sentiment: Buy Disclosure: Held
