Ankündigung • Sep 26
AVZ Minerals Limited Announces Board Appointments AVZ Minerals Limited announced the appointment of Dr. Casta Tungaraza as an independent non-executive director, effective from 25 September 2023. Dr. Tungaraza has over 40 years of domestic and international industry experience. She has managed multiple projects in Australia and Africa and has delivered key projects across these regions within the public, private and not-for-profit sectors. She also has extensive experience and knowledge of international trade between Australia and Africa as the chair of the Australian Government’s Advisory Group on Australia-Africa Relations (AGAAR) advising the Minister of Foreign Affairs and Trade on Australia’s engagement with the countries of Africa to enhance commercial, investment and people-to-people relations for the mutual benefit of the two Continents. In 2012, she was inducted in the Western Australia Women’s Hall of Fame. Previously, Dr. Tungaraza was a director and co-founder of the East Africa Oil and Gas company promoting and facilitating Australia’s investment in Africa. She has held academic and management positions with several organizations including the University of Dar-Es-Salaam in Tanzania, Murdoch University in Western Australia, and Flinders University in South Australia. She is the founding director of Australia-Africa Trade and Cultural Expo and served on various Federal and State Ministerial Advisory Boards. Dr Tungaraza holds a Bachelor of Arts (Hons) in International Relations with a French Major from the University of Dar-Es-Salaam in Tanzania and a master’s degree in development studies from the University of Dar-Es-Salaam in Tanzania. She also holds Doctor of Philosophy in International Politics from the Flinders University in South Australia. She is currently the Tanzania’s Tourism Goodwill Ambassador in Australia, appointed by the Tanzanian Government. The company confirmed the appointment of Mr. Serge Ngandu as Executive Director, effective 25 September 2023. Mr. Ngandu has over 40 years of experience in the mining industry across various African countries where he has been involved in delivering major mining projects. Mr. Ngandu is currently the Director for Corporate affairs of the company’ssubsidiary, Dathcom Mining SA. Mr. Ngandu has been instrumental in delivering the Company’s favourable opinions obtained from various departments of the government of the Democratic Republic of Congo “DRC”. These four favourable opinions (Technical, Environmental, Cadastral and Financial) underpin the rights to the Manono Lithium and Tin project and will be instrumental in obtaining the company’s mining licence. Mr. Ngandu previously held Senior Management and Board positions with several international mining and engineering companies including Hatch Africa (South Africa), Areva (France, Central African Republic, and South Africa), West African Minerals Corporation (Sierra Leone), Worley Parsons (South Africa) and Gecamines (DRC). Mr. Ngandu holds BSC and MSC degrees in Chemical Engineering from the University of Lubumbashi and further holds a MSC Degree in Mineral processing from the Institut National Polytechnique de Lorraine in France and a dual MBA from the International Management Centre of United Kingdom and Business School Netherlands. Ankündigung • Sep 06
AVZ Minerals Limited, Annual General Meeting, Nov 23, 2023 AVZ Minerals Limited, Annual General Meeting, Nov 23, 2023. Agenda: To consider election of directors. Ankündigung • Dec 01
AVZ Minerals Limited Receives Further Strong Results from Mineral Resource Drilling Program At the Manono Lithium and Tin Project AVZ Minerals Limited received further strong results from its Mineral Resource drilling program at the Manono Lithium and Tin Project in the Democratic Republic of Congo. The Company has received results from the second four diamond drill holes at the Roche Dure North-East Extension drilling program. Ankündigung • Nov 01
AVZ Minerals Limited Announces Positive Results from Initial Roche Dure Extension Drilling Program AVZ Minerals Limited received further strong results from its Mineral Resource drilling at the Manono Lithium and Tin Project (Manono Project) in the Democratic Republic of Congo (DRC). It has received results from the first 4 diamond drill holes at the Roche Dure North-East Extension drilling programme. Results from the first 4 of 46 planned resource drill holes at the Roche Dure North-East Extension, confirms further widespread, high-grade spodumene lithium mineralisation including 226.8m @ 1.67% Li2O & 307 ppm Sn and 226.8m @ 1.67@ Li2O. Seventy five samples returned values greater than 2% including 3 individual samples grading greater than 3% Li2O with the highest value being from hole MO22DD003 from 122 to 124 metres downhole grading 3.59 Li2O. The latest drill holes demonstrate grade continuity both down-dip and along strike at Roche Dure. Drilling results moving along strike to the north-east confirm the Roche Dure orebody dipping shallower on the northernmost drill section. AVZ holds a 75% interest in the Manono Project, located 500km north of Lubumbashi in the south of the Democratic Republic of Congo, hosting the world class Roche Dure Mineral Resource, one of the largest undeveloped hard rock lithium deposits in the world. The Manono Project is strategically positioned as a clean, sustainable source of lithium, significantly contributing to the green energy transition, feeding the global lithium-ion battery value chain. With industry leading ESG credentials, it is forecast to be one of the lowest carbon emitting hard rock mines in the world. Ankündigung • Oct 01
AVZ Minerals Limited, Annual General Meeting, Nov 17, 2022 AVZ Minerals Limited, Annual General Meeting, Nov 17, 2022, at 14:00 W. Australia Standard Time. Location: Fraser Suites Perth Fraser Ballroom, 10 Adelaide Terrace East Perth Western Australia Australia Ankündigung • Aug 26
AVZ Minerals Limited provides Site Operational Update AVZ Minerals Limited provided an operational update in relation to its flagship Manono Lithium and Tin Project ("Manono Project"). Delineation drilling at the Roche Dure lithium deposit at the Manono Project has progressed and is expected to confirm the reinterpretation of the hanging wall pegmatite contact about 50m further northeast as indicated by the ore discovered in an earlier `outlying" piezometer drillhole. This current program, targets completion of approximately 15,000m of diamond drilling and to date approximately 1,500m across 8 holes, has been completed out of the planned 48-hole program. Two rigs are currently double shifting with plans to add a third rig. Currently there are no assays available and the contained percentages of spodumene are estimates only, which require follow up assay results for inclusion in the new resource estimates that will be undertaken at the conclusion of the drilling programme. These results will be published in due course. Ankündigung • Aug 04
AVZ Minerals Limited Announces Resignation of Peter Huljich as Non-Executive Director AVZ Minerals Limited advised that Mr. Peter Huljich has resigned as Non-Executive Director of the Company due to personal reasons. Mr. Huljich will continue to provide consulting services to the Company during fiscal year 2023. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Chairman John Clarke was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Apr 13
AVZ Minerals Limited Announces Receipt of Positive Technical Opinion from the Department of Mines AVZ Minerals Limited announced receipt of a positive technical opinion from the Department of Mines, paving the way for an imminent decision on award of the Mining Licence for its Manono Lithium and Tin Project ("Manono Project"). The process for the award of the Mining Licence requires the satisfaction of four key elements: Environmental approval; Proof of financial capability; Favourable cadastral opinion; and Favourable technical opinion, with the Manono Project receiving favourable outcomes on all points, paving the way for an imminent decision on award of the Mining Licence. Breakeven Date Change • Mar 17
Forecast to breakeven in 2024 The analyst covering AVZ Minerals expects the company to break even for the first time. New forecast suggests the company will make a profit of AU$73.4m in 2024. Average annual earnings growth of 98% is required to achieve expected profit on schedule. Recent Insider Transactions • Jan 22
Technical Director & Executive Director recently sold AU$651k worth of stock On the 17th of January, Graeme Johnston sold around 753k shares on-market at roughly AU$0.86 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Ankündigung • Aug 20
AVZ Minerals Limited Provides Manono Lithium and Tin Project Corporate Update AVZ Minerals Limited provided an update on recent corporate activities in relation to its project, the Manono Lithium and Tin Project. Licensing and Permitting: The process for the award of the Permis d'Exploitation requires: environmental approval of the ESIA report by DPEM - completed and received; technical approval of the DFS report by the Directorate of Mines currently under review and progressing very well; and Cadastre Minier (CAMI) approval no issue expected. Following the above approval process a proposed ministerial decree drafted by CAMI is submitted to the Minister of Mines for final approval. Earlier this month, Company representatives met with a high-ranking DRC Government delegation which included senior advisors to the President of Mines & Energy, Ministry of Industry, Ministry of Mines, Ministry of Planning & Ministry of Finance. The delegation provided unanimous support of the
Manono Project based on the body of work completed by AVZ, which was submitted to the meeting of multi-sectorial Ministers with the objective of considering the Collaboration Development Agreement between the DRC Government and AVZ. Ankündigung • Jul 15
AVZ Minerals Limited Announces the Completion of an Upgraded JORC Code Compliant Ore Reserve Estimate for the Manono Lithium and Tin Project AVZ Minerals Limited announced the completion of an upgraded JORC Code compliant Ore Reserve estimate for the Manono Lithium and Tin Project ("Manono Project"), as the Company transitions its Manono Project into development. Mining dilution by elevation has been applied to represent the changing quantities of waste dilution existing on each bench of the pit: Surface to the 565RL has 5% mining dilution applied; 565RL to the 505RL has 2% mining dilution applied; 505RL to the 435RL has 1% mining dilution applied; Below the 435 RL has 0% mining dilution applied, as the whole bench is ROM. A variable mining recovery has also been applied: Surface to 565RL has 98% mining recovery applied; Below the 565RL has 99% mining recovery applied. The Ore Reserve estimate has been based on a cut-off of > $0.00 block value comprising an economic block by block calculation. Figures above may not sum due to rounding. Ankündigung • Jul 03
AVZ Minerals Limited announced that it expects to receive AUD 40 million in funding AVZ Minerals Limited announced a private placement of 307,692,308 common shares at an issue price of AUD 0.13 per share for gross proceeds of AUD 40,000,000 from on July 2, 2021. The transaction included participation from sophisticated, professional and institutional investors and high-quality institutions from Australia and North America, and includes a European-based physical energy
commodities merchant. The transaction was issued a 18.8% discount to the closing price on 29 June 2021. The transaction was oversubscribed by $10 million. The transaction is expected to close on July 7, 2021. Ankündigung • May 24
AVZ Minerals Limited Updates Mineral Resource Estimate AVZ Minerals Limited announced that it has updated the Mineral Resource of the Manono Lithium and Tin Project after including results from the recent pit floor drilling programme. The pumping of water from the Roche Dure pit was completed in February 2020. This provided drill rig access to determine the nature of the mineralisation in the area beneath the pit floor. This area is referred to as the "wedge" and was a portion of the Mineral Resource previously classified as Inferred that could not be accurately evaluated with data acquired in the earlier drilling phases. A total of nine diamond drill holes, inclined to the northwest and ranging between 72 m and 276 m in depth, were completed during 2020 and 2021. All holes were collared in pegmatite and fresh spodumene-bearing pegmatite was encountered within the first 10 m, with the exception of hole MO20DD007, which intersected fresh pegmatite from 16 m. Nine reverse circulation hydrology holes were drilled for piezometer installation around the perimeter of the Stage 3 Life of Mine open pit. Five of the holes intersected pegmatite and were sampled and used in the interpretation of the geological model (Table 2). Apart from MO20RCP02, assay data from these reverse circulation drill holes were not used for Mineral Resource estimation. Jusdox Consulting was commissioned to conduct a high-resolution drone survey of the empty Roche Dure pit which took place from 30 October to 7 November 2020 and to provide an updated digital terrain model. The survey covered an area of 85.05 ha and was completed using a P540-UAV Survey
Drone with control points tied to local benchmarks using a DGPS Hi-Target V90 plus Trimble Board in RTK mode (Jusdox, 2020) The Mineral Resource included an updated geological model, based not only on the additional data, but
also from a reinterpretation of previous data. The Mineral Resource estimate made use of an updated digital terrain model which was informed by the survey of the pit floor. The Mineral Resource is reported in accordance with the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code). The Roche Dure Mineral Resource occurs over approximately 1,600 m of strike length that has been
drilled and sampled. The pegmatite dips at approximately 45° to the southeast. Li2O, Sn, Ta, Fe2O3 and P2O5 have been estimated by ordinary kriging, with density assigned based on mean values in each domain. Areas have been classified as Measured, Indicated or Inferred Resources in accordance with the guidelines of the JORC Code (2012). The Mineral Resource is classified as Measured where blocks are within a drillhole spacing of 100 m by 50 m and occur less than 25 m downdip of the nearest drillhole. Indicated Mineral Resources are defined as those blocks within a drillhole spacing of 100 m by 100 m and are within 75 m of the nearest drillhole. Inferred Mineral Resources are extrapolated to approximately 125 m from the general drilling grid. Ankündigung • May 19
Avz Minerals Limited Announces Initial Exploration Target for Alluvial Placer Hosted Tin Defined at the Manono Lithium and Tin Project AVZ Minerals Limited announced its initial Exploration Target defining the potential for alluvial hosted tin resources at its Manono Project. This statement is based on an independent review of historical exploration records produced by Zaïretain, the previous operators of the historical mining operations at the Manono Lithium and Tin Project ("Manono Project") in the Democratic Republic of Congo. The review was conducted by independent geological and mining consultants, Behre Dolbear International Limited (Behre Dolbear), based in the United Kingdom. The Exploration Target shown below, is in addition to the existing JORC 2012 compliant hard rock tin and tantalum Mineral Resource Estimates (MRE) of 125 million tonnes @ 175ppm Sn and 26ppm Ta (low grade tin domain) and 275 million tonnes @ 962ppm Sn and 38ppm Ta (high grade tin domain) at a 0.5% Li2O cut off. Executive Departure • Apr 28
CFO & Company Secretary has left the company On the 15th of April, Leonard Vun Math's tenure in the role of CFO & Company Secretary ended. As of December 2020, Leonard Vun personally held 2.63m shares (AU$447k worth at the time). A total of 2 executives have left over the last 12 months. Ankündigung • Mar 09
AVZ Minerals Limited Signs Second Lithium Offtake Agreement with Shenzhen Chengxin Lithium Group Co.,Ltd AVZ Minerals Limited advised the company has secured a second strategic, long-term offtake partner with Shenzhen Chengxin Lithium Group Co.,Ltd, ("Chengxin"). The Company and Chengxin have signed a binding offtake agreement for the supply of spodumene concentrate (SC6) from the Manono Lithium and Tin Project ("Manono Project"). Key terms of the Chengxin Offtake Agreement: Term: initial 3-year term, with extension options by mutual agreement. Annual Supply of up to 180,000 tonnes of spodumene concentrate per annum. Pricing USD/CIF, China determined by a formula which references various published. market prices of lithium carbonate and lithium hydroxide products and underpinned by an agreed floor price. Shipment payments via documentary letter of credit. Termination rights included for breach of the material terms of the Offtake Agreement including non-payment or failure to supply or take annual quantity commitments. Ankündigung • Mar 04
AVZ Minerals Limited Reports Further Strong Results from its Site Operations at the Manono Lithium and Tin Project in the Democratic Republic of Congo AVZ Minerals Limited reported further strong results from its site operations at the Manono Lithium and Tin Project in the Democratic Republic of Congo. It has received results from several new mineralised zones, currently located outside of the Life of Mine open pit design, in five of the nine piezometer holes drilled to observe water table movements during the first half of the mining operations. Nine vertical Reverse Circulation holes drilled for piezometer installation around the perimeter of the Stage 3 Life of Mine open pit were sampled New mineralised pegmatite intersected in five holes, three of which are significant. The high-grade intersection in hole MO20RCP02 resulted in the north- eastern limit of the Roche Dure pegmatite being extended by about 90 metres to the south east The new intersection in hole MO20RCP02 is outside the current pit design, demonstrating the potential for likely extensions to the existing pit design as more information becomes available The new pegmatite intersected in hole MO20RCP09 on section 7600mN and outside the current pit design was previously unknown and not mapped at the surface where there is poor to nil outcrop. Ankündigung • Feb 26
AVZ Minerals Limited Awards 12-Week Front End Engineering and Design (Feed) Contract to Mincore Pty Ltd AVZ Minerals Limited announced it has awarded a 12-week Front End Engineering and Design (FEED) contract to Melbourne based engineering company, Mincore Pty Ltd. Key deliverables of the FEED study include: confirm the process flow sheet, confirm all bulk material quantities to verify pricing, confirm selected equipment pricing, finalisation of the execution schedule and provide "Issued for Construction" early works drawings. Mincore has offered to accept part payment for the FEED study in AVZ shares. The shares will be issued using the last previous closing price on the day of final invoice. The Company views Mincore's decision to accept part payment of the FEED study in AVZ shares as a strong vote of confidence in the viability of the Manono Lithium and Tin Project (Manono Project). AVZ looks forward to working with Mincore's team during the next 12-week period. Mincore has also been shortlisted as one of the contenders to execute the Main Process Plant EPC contract. However, AVZ will update the market on award of the final EPC contract after the AVZ Board has made its Final Investment Decision. Ankündigung • Feb 18
AVZ Delivers Further Positive Drill Results - Manono Project AVZ Minerals Limited announced it has received further strong results from its Mineral Resource drilling of the Manono Lithium and Tin Project in the Democratic Republic of Congo. The assay results come from another two of the nine completed diamond drill holes at Roche Dure in previously undrilled areas beneath the historical pit which were inaccessible and under water during the earlier resource drilling programs. As outlined in the Company's ASX Announcement on 5 February 2021, the potential benefits from confirmation of the "wedge" pit floor material as Indicated Resources under the JORC code will possibly include: Increased Indicated Resources available for conversion to Probable mineable reserves; Potential increase in the discounted cashflow as the previously assigned waste becomes mineable ore; A potential reduction in payback period; A potential reduction in the ore:waste strip ratio; An increased mine life with lower operating costs; An increased open pit volume; and An increased Life of Mine. Ankündigung • Feb 05
AVZ Minerals Limited Receives Strong Results from Mineral Resource Drilling of the Manono Lithium and Tin Project in the Democratic Republic of Congo AVZ Minerals Limited announced it has received further strong results from its Mineral Resource drilling of the Manono Lithium and Tin Project in the Democratic Republic of Congo. The assay results come from the first four of nine planned diamond drill holes at Roche Dure in previously undrilled areas beneath the historical pit which were inaccessible and under water during the earlier resource drilling programs. These positive drill results unequivocally demonstrate this is not the case and this material may be remodelled with increased confidence as revenue generating ore once all of the assay results are returned. The Company is waiting on further assay results, with the targeted drill program soon to be completed with only one hole currently underway. The potential benefits from confirmation of the "wedge" pit floor material as Indicated Resources under the JORC code will possibly include: Increased Indicated Resources available for conversion to Probable mineable reserves; Potential increase in the discounted cashflow as the previously assigned waste becomes mineable ore; A reduction in payback period as waste becomes revenue generating ore immediately upon commencement of mining operations; A potential reduction in the ore:waste strip ratio; An increased mine life with lower operating costs; An increased open pit volume; and An increased Life of Mine. Ankündigung • Jan 22
AVZ Minerals Limited Completes Comprehensive Independent Greenhouse Gas Assessment for the Life of Mine of Its Manono Lithium and Tin Project AVZ Minerals Limited has completed a comprehensive independent greenhouse gas (GHG) assessment for the life of mine of its Manono Lithium and Tin Project ("Manono Project"). The GHG assessment, which was completed by leading global environmental and sustainability consultants, Environmental Resource Management (ERM), evaluated the estimated Scope 11 and Scope 22 emissions associated with all operations over the 20-year life of the Manono mine, processing facilities and road transportation of the products. The greenhouse gases evaluated in the study include carbon dioxide (CO2), nitrous oxide (N2O) and methane (CH4). ERM employed a methodology consistent with the 2006 Intergovernmental Panel on Climate Change (IPCC) Guidelines. ERM's findings showed the Manono Project could have one of the lowest carbon footprints of any global hard rock lithium miner. This is primarily due to AVZ's strategic location adjacent to the Mpiana Mwanga Hydro Electric Power Plant (HEPP) which, once refurbished, is anticipated to provide all the Manono Project's electricity requirements. AVZ's plan to transition to a fleet of electric mining and haulage vehicles should reduce GHG emissions of the Manono Project by an estimated 29,404 t CO2-equivalent (e)/year. The GHG emissions associated with the production of primary lithium sulphate (PLS), (i.e., 715,443 t CO2-e/life of project), are anticipated to be greater than the emissions associated with the production of spodumene concentrate (SC6), (i.e. 552,785 t CO2-e/life of project). This is due to the consumption of diesel in the calciner plant within the PLS processing facility. AVZ is currently pursuing alternative energy sources to diesel for the calciner plant. AVZ is also investigating additional carbon capture sequestration technology with the aim of recovering the CO2 from diesel fired calcining kilns and converting it on site to soda ash, thereby further decreasing the CO2-e/year. Ankündigung • Jan 13
AVZ Minerals Limited Announces Primary Lithium Sulphate Metallurgical Test Work Results AVZ Minerals Limited announced the successful completion of preliminary metallurgical testing for the Company's planned lithium sulphate plant and production of 1.5 kg of Primary Lithium Sulphate (PLS) material. The testwork objective was to produce Primary Lithium Sulphate from Manono spodumene concentrate (SC6) and to demonstrate the technical feasibility of the flowsheet. The testwork was undertaken from September to December 2020 at KPM's Kingston, Ontario, facility. Approximately 9kg of spodumene concentrate (SC6) from the Manono deposit assaying approximately 6.1% (Li2O) was processed. Conversion of the alpha-spodumene to beta-spodumene was successfully completed and confirmed the original testwork outcome upon which the DFS was predicated. Acid roasting was conducted at different ratios with successful roasting achieved well within the expected design ranges, as planned. This was followed by water leaching, which achieved a lithium recovery of 84-88%. Solution purification yielded a purified leach solution very low in metal contaminants. Evaporation of the purified leach solution yielded a primary lithium sulphate solid product composed predominantly of lithium sulphate monohydrate (Li2SO4.H2O). The main secondary component of the product was sodium sulphate, along with a small amount of potassium sulphate, both of which can be readily removed during downstream conversion processes. By operating under suitable conditions as planned, the test results indicated a Primary Lithium Sulphate product containing greater than 80 wt. % lithium sulphate monohydrate can be readily produced. The Primary Lithium Sulphate product produced by the metallurgical testing would make a highly suitable feedstock for the electrolytic production of Lithium Hydroxide Monohydrate. The Roche Dure pit floor resource drilling programme recommenced on 11 January 2021 after a three- week Christmas break. Two deeper holes and the final 30 metres of Hole MO20DD007 are still to be completed. Pulverised samples from the first six holes have been received at ALS in Perth and the assay results will be reported prior to them being used for a re-estimation of the geological resource figures. Drilling of the pit floor is expected to be completed by the end of January. Installation of the piezometers surrounding the 10-year pit shell has also recommenced. A full suite of water table drawdown tests will be completed once all piezometers are installed. Initial pumping from the first piezometer completed in December 2020 demonstrated a very slow recharge of that hole and this may indicate that there may be no water inflow issues in that part of the pit. Since this work remains ongoing, the completion of the test programme will determine if this is an accurate assessment or not. The geotechnical programme at the Roche Dure plant site continues. Samples of both soil and rock from the 10-hole geotechnical drilling programme and the 38 test pits have been sent to Rocklab in Johannesburg for particle size distribution test work and strength tests. Results are pending and will be used for foundation design for the processing plant. Five geotechnical drill holes are still to be completed at the Tailings Storage Facility and once these are finalised, following on from the completion of the pit floor drilling, representative samples of soil and rock will be sent to a specialist laboratory in Johannesburg for assessment. Further site works have commenced at Manono's Camp Colline to accommodate approximately 250 construction workers who will build the processing plant and associated mine infrastructure. Providing road access to house plots is currently underway along with the collection and storage of new building materials. All of the large and medium packages have been tendered and adjudicated and now await a Final Investment Decision to be made before awarding contracts. Is New 90 Day High Low • Jan 12
New 90-day high: AU$0.20 The company is up 163% from its price of AU$0.078 on 14 October 2020. The Australian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 22% over the same period. Ankündigung • Dec 24
Avz Minerals Limited Signs First Lithium Offtake Agreement with GFL International AVZ Minerals Limited advised the company has secured a strategic, long-term offtake partner with GFL International Co. Limited a subsidiary of China's largest lithiumcompounds producer, Ganfeng Lithium Co Ltd. ("Ganfeng Lithium"). The company and GFL have signed an offtake agreement, for an initial five year term and with an option to extend for a further five years, for spodumene concentrate (SC6) from the Manono Lithium and Tin Project "Manono Project". GFL is a leading global battery materials producer that is continuing to expand both its lithium carbonate and lithium hydroxide production capacity. Ankündigung • Oct 10
AVZ Minerals Limited Provides Manono Project Operational Update AVZ Minerals Limited announced that planned drilling has commenced at its project, the Manono Lithium and Tin Project. Highlights: Pit floor drilling program commences to potentially upgrade some; Inferred Resources to Indicated Resources; New Ore Reserves to be generated from updated mine design; Geotechnical site investigation of plant site underway. Site for tailings storage facility confirmed and geotechnical sampling program commenced Phase 2 hydrogeological modelling field program commenced Updating the mine plan Once the `wedge' material directly under the pit floor is drilled and assay results returned, it is expected that some of this previously classified waste rock may then report as mineable ore. This new data will allow the existing mine design to be re-run and optimised. There will be positive advantages from this work being undertaken with the most obvious being that two years of potential pre-stripping will be avoided and the payback period for financing will be positively impacted pro-rata. The re-run of the mine design, following the upgrade of the geological resource estimate towards the end of the year, will also allow for plant design optimisation studies, highlighted in the published Definitive Feasibility Study, to also be completed and incorporated into the new modelling. Consequently, a new Ore Reserves Estimate and financial model will be generated based on the revised mine design, which are expected to be published towards the end of December 2020. Plant Site Geotechnical Program As part of the pre-production planning, AVZ recently received survey information over the plant site, coupled with updated site design work has allowed "fine tuning" of the final location of the plant site. This has allowed planning of the plant site geotechnical investigation program and the siting of 38 new test pits and nine geotechnical boreholes sighted under significant weight bearing locations. PQ sized diamond core from the nine holes will be sent to a specialist geotechnical laboratory in Johannesburg for an array of specialist load bearing strength tests. This data will allow for detailed planning of the future earthworks program for construction of the new plant site. Tailings Storage Facility (TSF) Update A technical decision has been made to optimise the storage of future mine tailings by placing them inside the waste rock dump to the west of the Roche Dure open pit. The advantages of this design, which is commonly adopted in Australia and known as an Integrated Waste Landform (IWL) are several but include minimising land disturbance by storing the tailings inside a rock barrier, increased stability of the overall TSF, substantial savings on dam wall construction and ease of future
rehabilitation. Roche Dure hydrogeological model field program A specific hydrogeological investigation of Roche Dure is being undertaken following a regional appraisal of the hydrology of the site. Water table monitoring piezometers will be installed around the perimeter of the Roche Dure pit to determine and model the various parameters of the free-standing water table, including potential recharge of the water table and how it may be affected by the deepening of the Roche Dure open pit. Data from this programme may be used in the mine planning optimisation. The final hydrogeological model will then be included in the Manono Environmental and Social Impact Assessment report which will accompany the application for the Manono mining permit. It is anticipated the field component of the Phase 2 work program will be completed within the next two months followed by validation and reporting. Ankündigung • Sep 21
AVZ Minerals Limited (ASX:AVZ) entered into a Share Sale agreement to acquire additional 10% stake in Manono Lithium and Tin Project from Dathomir Mining Ressources SARLU for $15.5 million. AVZ Minerals Limited (ASX:AVZ) entered into a Share Sale agreement to acquire additional 10% stake in Manono Lithium and Tin Project from Dathomir Mining Ressources SARLU for $15.5 million on September 21, 2020. Under the Agreement, AVZ has paid $0.5 million to Dathomir Mining as an advance payment. The remaining $15 million will be paid to Dathomir Mining at any time within 12 months of the agreement being executed or as soon as AVZ secures a minimum of $50 million project financing. Upon completion, AVZ Minerals Limited will hold 75% stake in Manono Lithium and Tin Project. If the payment is not done within 12 months of executing the agreement, AVZ will forego its $0.5 million advance payment and lose the rights to secure the additional 10% equity in the Manono Project. An Extraordinary General Meeting of Dathcom Mining will need to be convened to approve the sale of Dathomir Mining’s remaining equity in Dathcom Mining to AVZ Minerals. Ankündigung • Sep 17
AVZ Minerals Limited (ASX:AVZ) entered into an agreement to acquire a 5% interest in Manono Lithium and Tin Project from Dathomir Mining Ressources SARL for $5.5 million. AVZ Minerals Limited (ASX:AVZ) entered into an agreement to acquire a 5% interest in Manono Lithium and Tin Project from Dathomir Mining Ressources SARL for $5.5 million on June 24, 2019. The first tranche payment of $0.5 million is to be paid within 14 days of execution and the balance of the consideration can be paid at any time within a period of 36 months from the execution of the agreement. As of October 31, 2019, AVZ has now paid the first tranche of $0.5 million to Dathomir, with $5 million to be paid to Dathomir at any time within 36 months from the date of the agreement. At the completion of the transaction, AVZ’s equity interest in the project licence will increase to 65%. An Extraordinary General Meeting of shareholders of Manono Lithium and Tin Project will be convened in late July 2019 or early August 2019 to approve the sale of additional equity within Dathcom to AVZ. As of November 11, 2019, AVZ executes a conditional Subscription Agreement with Yibin Tianyi Lithium Industry Co., Ltd who will emerge with a 12% stake in AVZ Minerals Ltd upon completion of AUD 14.1 million ($9.66 million) strategic share placement. The funds to be raised from this placement will enable AVZ to complete the acquisition of an additional 5% project interest from Dathomir Mining SARL, increasing AVZ’s overall interest in the Manono Project to 65%. The placement will also allow early development works to be undertaken at the Manono Project while the DFS is being completed. The deal is approved by shareholders of shareholders of Manono Lithium and Tin Project. The transaction will be highly accretive for AVZ shareholders with minimal upfront payment.