AVZ Minerals’ Shares Mounted after Receiving Further High-grade Results from Manono Project

  • Oct 19, 2018 AEDT
  • Team Kalkine
AVZ Minerals’ Shares Mounted after Receiving Further High-grade Results from Manono Project

 On 19 October 2018, AVZ Minerals Limited (ASX: AVZ) was reinstated to official quotation and announced that the company has received further high-grade results from its Mineral Resource drilling at the Manono Lithium Project which is located in the Democratic Republic of Congo. Moreover, it has also received results from a further eight diamond drill holes which were not included in the Maiden Joint Ore Reserves Committee (JORC) Mineral Resource estimate which was reported in early August 2018. Following this news, the company also announced the reinstatement to official quotation and the share price of the company increased by 5.55 percent as on 19 October 2018.

Company announced that it has initiated the work on the now 5Mtpa & 10Mtpa scoping studies for the Manono Lithium Project. Earlier, instead of 5Mtpa, it was a 4Mtpa study, but the company has now increased the scale of the study as company decided to study the use of 5Mtpa modules given the expected economies of scale from this strategy and the size and potential of the world-class resource available to at Manono. 

In the month of September, Executive level meetings were held in the USA, Canada, China & Hong Kong as part of the Company’s ongoing strategy to secure financing for the development of the Manono lithium project. The company has also started drilling large diameter drill holes to collect metallurgical samples for the planned test work associated with the imminent commencement of the Feasibility Study. It is expected that a total of 5 holes will produce sufficient material to allow more in-depth metallurgical test work studies to be undertaken during the last quarter of 2018. The pegmatite intervals in the new infill holes show substantial thicknesses of higher-grade material ranging in depth from just under the weathered zones to deeper in the deposit. The company also announced that the Roche Dure mineralization continues to increase, and the company is looking forward to releasing an updated Mineral Resource Estimate for Manono before the end of the FY 2018.

Recently, the company disclosed in its investors presentation that there is a scope of further improvement in the project economics, especially in the areas of transport, processing and power costs by utilizing a refurbished hydro plant at Piana Mwanga that has not been included in any financial modelling.

In FY 2018, the revenue from the continuing operations of the company increased $20,432 in FY 2017 to $169,121. The total comprehensive loss of the year increased from $2.46 million in FY 2017 to $3.24 million in FY 2018.  Basic and diluted loss per shares increased from 0.21 cents to 0.34 cent in FY 2017 in FY 2018. The total current assets of the company increased from $1.27 million to $16.42 million in FY 2018. The net cash outflow from the operating activities is 1.96 million in FY 2018.

In the last three months, the share price of the company decreased by 10 percent as on 18 October 2018. AVZ’s shares traded at $0.095 as on 19 October 2018 (AEST 12:30 PM).

Dividend Stocks To Buy

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.


Disclaimer

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.

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK