AVZ Minerals halted with announcement pending on proposed equity raising
Securities will remain in trading halt until the earlier of the start of normal trading on Friday, July 2, 2021, or when an announcement is released to the market. AVZ was recently granted a long-term lease on land in the DRC that will host an Intermodal Staging Station.
AVZ Minerals Ltd (ASX:AVZ) has been granted a trading halt by the ASX with an announcement pending in relation to a proposed equity raising.
In its application for the halt, AVZ said: “The trading halt is requested pending the release of an announcement by the company in relation to a potential equity raising (comprising an institutional placement and a share purchase plan) and to allow the placement to take place in an orderly fashion.”
AVZ Minerals secures long-term land concession for Intermodal Staging Station in DRC
The station is a key component of the company’s logistics infrastructure plan to export product from the Manono Lithium and Tin Operation. The company was also awarded a 25-year renewable rental agreement for industrial land by the Haut-Lomami Lands Office.
AVZ Minerals Ltd’s (ASX:AVZ) (OTCMKTS:AZZVF) (FRA:3A2) subsidiary Nyuki Logistics Company SASU has secured a renewable 25-year lease on a 1,227-hectare site around 4 kilometres southeast of the regional town of Kabondo Dianda in the DRC.
The site will host the Kabondo Dianda Intermodal Staging Station, which will form a vital part of AVZ’s logistics infrastructure plan to export finished products produced from the Manono Lithium and Tin Operation (MLTO) for export to global markets.