Australian listed lithium metal company, AVZ Minerals Ltd has confirmed Manono as the world’s largest Hard Rock Spodumene Deposit while it aims to becoming a potential world leader in global lithium market.
Following a trading halt, AVZ Minerals released its long awaited maiden mineral resource estimates for the 60% owned Manono Lithium-Tin-Tantalum Project based in the Tanganyika Province of Congo. The group has identified an initial mineral resource at 259.9 mt at 1.63 per cent Li2O for Roche Dure pegmatite. The key aspect is that this has been contained within 50% of pegmatite’s total strike.
The results of ongoing drilling indicated the total resources of 259.9million tonnes containing 4.25 million tonnes of lithium oxide (Li2O), 219 kiloton of tin, and 11.2 kiloton of Tantalum.
In view of AVZ’s Managing Director, a significant amount of tin component would provide a valuable by-product credit which can be utilised to abridge operating cost.
The group is yet to work on the drilling test of the Mpete and Tempete pegmatites at Kitotolo Sector, north of Roche Dure and the Carrier de L’Est pegmatite at Manono sector.
Despite confirming the humongous lithium resource under its nose, AVZ faces sink in its share price based on concerns on progress to production and other challenges related to project location. The stock plunged by 10% to $0.117 on August 03, 2018.
The Income available from dividends remains attractive for many investors.
We take a look at the best yields on the market and assess what they say about a company’s prospect.
One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”
ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.
Click here to get your free report.
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.