AVZ (ASX) Running discussion on SP

Originally posted by ozblue ↑

"This board is interested in a TO and are happy for SP to come down hoping Chinese investors will offer them something... anything ."

I was an early holder and made some good cash from AVZ, but sold way,way too early, but have been following it ever since.

The above statement covers most bases. To me it looks like a 'desperate seller' instead of a company prepared to take this giant deposit through to mining.
This is from a company presentation on 1/8/2017.....

"Commencement of extensive drill program Q3, 2017
Competent Persons Report - Initial Resources Q4, 2017 Q1, 2018"

On the 25th October, well into Q4, was the following..........

"AVZ Minerals (ASX:AVZ) (“AVZ” or “Company”) is pleased to advise that it has entered into an agreement with Equity Drilling Limited (“Equity”) for the completion of an initial 20,000 metres of drilling at the Manono Lithium Project in the DRC."

Basically looks like dragging the chain on doing the work needed, instead of proceeding with haste.

I have not seen an announcement about the signing of contracts for the next round of drilling, which given the time (months) for the rigs to arrive at the site, one would hope was continuous through the dry season, to get as large an indicated resource as possible.
One would also hope the company would hire the correct people to do the necessary studies, plus project developers etc.

IMHO getting on with the job of developing a mine ASAP is what adds the most value for shareholders. If you look and act like a 'desperate seller' then don't expect smart Chinese Billionaires (or any others for that matter) to treat you as any different to one (by playing hardball/games, offering VERY low price etc)

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I agree Oz, I’ve held this since Feb 17, toward end of last year ML announced they would release drill results of each hole as they became available . Hasn’t happened. Games being played IMO. However I do trust Michael is working towards a good deal for us all. Just seems to be taking longer than expected. At least he tried to keep his end of the bargain for us with those sneaky snaps! I really hope the company is serious about defining a JORC’d resource of at least 300-400mt. Hopefully that is worth 1B MC. Or more !!!