AVZ Minerals Now Fully Funded to Final Investment
Decision at the Manono Project via an Oversubscribed
Placement Raising $9.8M
Highlights:
• $9.8 million Placement fully funds AVZ to Final Investment Decision at
the Manono Lithium and Tin Project
• Placement was cornerstoned by new strategic investor Lithium Plus and
existing strategic investor Huayou Cobalt Group
• Strong support from Australian and global institutions as well as
sophisticated investors
• AVZ welcomes a new strategic investment by Lithium Plus which has
subscribed for $3 million in the Placement for an initial 3.46% interest in
the Company
• Lithium Plus is a specialist lithium investment company led by Mr Bin Guo
who has close links to the battery manufacturing industry in China and is
also a director of North American Lithium Inc.
• Zhejiang Huayou Cobalt Co., Ltd (SHA:603799, Mkt Cap US$4.5bn)
through its group company Huayou International Mining (Hong Kong)
Limited, (Huayou Cobalt Group) has continued its support of AVZ
Minerals by subscribing for $1 million in the Placement to maintain a
9.30% interest in the Company
• Huayou Cobalt Group is one of the world’s largest manufacturers of
cobalt chemicals for use in batteries and has extensive in-country
experience with a number of established mining operations
• Placement brings total proceeds from new shares issued to $15 million
before costs as contemplated in the SPP Prospectus