AVZ Minerals Ltd lands cornerstone investor for Manono Lithium and Tin Project development
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AVZ Minerals Ltd drives Manono Lithium and Tin Project towards final investment decision by year-end
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AVZ Minerals Ltd boosts Roche Dure lithium and tin ore reserves by 41 6%
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AVZ Minerals investors support Manono Lithium and Tin Project through heavily oversubscribed $40 million placement
The placement, which was oversubscribed by A$10 million, was well supported by high-quality institutions from Australia and North America and includes a European-based physical energy commodities merchant. Proceeds from the placement will increase cash reserves as AVZ progresses toward a Final Investment Decision.
AVZ Minerals Ltd (ASX:AVZ) (OTCMKTS:AZZVF) (FRA:3A2) has received firm commitments to raise A$40 million from sophisticated, professional and institutional investors in a placement to advance the tier-1 Manono Lithium and Tin Project in the Democratic Republic of Congo.
The capital raising was undertaken to allow the board to efficiently progress towards a Final Investment Decision (FID) for the commencement of project development at the Manono Project.