Yes very interesting Scarpa .
Completely overlooked Dathcom.
Appears AVZ will secure 75% once final payment of US$15.5 Million.??
This will be required by project financiers.
Something has occurred for the DFS not to be released.
https://company-announcements.copyright link/asx/avz/6f463fa2-8303-11eb-9329-164fb5d6fa0e.pdf
On the corporate front, AVZ executed a Share Sale Purchase Agreement (“Agreement” for an additional 10% equity stake in Dathcom Mining SA (which holds 100% of the Manono Project) from its joint venture partner, Dathomir Mining Resources SARLU (“Dathomir Mining”. As announced in June 2019, the Company has secured 5% equity interest from Dathomir Mining for a total consideration of US$5.5M, with an advance payment already made of US$500,000. AVZ will own 75% of the joint venture company, Dathcom Mining SA upon completion of both agreements. The remaining 25% of the joint venture company is owned by La Congolaise D’Exploitation Miniere SA, the DRC Government
AVZ managing director Nigel Ferguson noted that a recent definitive feasibility study on Manono had revealed the project was “very robust” with “strong financial metrics”.
“This additional equity in the Manono project will add significantly to the project’s bottom line and NPV and is critical to AVZ’s ongoing discussions with prospective financiers,” Mr Ferguson added.
ALL IMO
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