Mining News

AVZ raises A$40m to enlarge Manono stake

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ASX-listed AVZ Minerals will raise A$40-million in a share placement to sophisticated, professional and institutional investors, to fund work at its Manono lithium and tin project, in the Democratic Republic of Congo.

The placement will consist of more than 307.6-million shares, which will be issued at a price of 13c each under the company’s existing capacity.

The share placement has been oversubscribed by A$10-million, which the AVZ board accepted, with the company announcing that it would not proceed with a share purchase plan.

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