The spooks were felt after the recent AVZ news "Govt. rejects...

The spooks were felt after the recent AVZ news "Govt. rejects Yibin Tianyi investment in AVZ Minerals (ASX:AVZ)"

"Lithium explorer AVZ Minerals (AVZ) has been unable to receive an investment from Chinese company Yibin Tianyi Lithium Industry Co.Yibin Tianyi was planning to invest $14.1 million in AVZ, in exchange for an 11.77 per cent stake.However, after a decision from the Federal Government was delayed earlier this month, it now appears the investment will not proceed. Yibin Tianyi’s lawyers informed AVZ that the Foreign Investment Board would reject the proposed investment on the grounds that it wasn’t in the national interest. As a result, Yibin Tianyi has withdrawn the offer but plans to evaluate alternative ways to invest in AVZ."

"The proposed investment was intended to help progress the Manono Lithium and Tin Project on DR Congo. AVZ currently holds a 60 per cent interest in the project. The remaining interest is shared between state-owned La Congolaise d’Exploitation Minière SA and a private company called Dathomir Mining Resources SARL. Earlier this week the company released its Definitive Feasibility Study for the project. The study estimates the site could generate approximately $5.98 billion in profits over a 20-year mine life."

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