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AVZ Minerals Ltd.
Summary
| Project: | Manono | |
|---|---|---|
| Deposit: | Manono | |
| Location: | Democratic Republic Of The Congo | |
| Commodities: | Lithium-Tin-Tantalum-Iron-Phosphorus | |
| Date: | 5/23/2019 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-5-2019: AVZ Minerals Ltd. announces a Scoping Study report for its Manono deposit at the Manono project. Updated Scoping Study results incl. pre-tax NPV of US $2.63B (10%), IRR of 64%, 20yr LOM. The Scoping Study is based on the material assumptions ta | |
| Resources: | (Resource, Total): 400Mt @ 1.65% Li2O, 715ppm Sn, 34ppm Ta, 0.96% Fe2O3, 0.29% P2O5 | |
| CP/QP: | [Overall Report]: Micheal Cronwright (MSA Group Pty Ltd.) | |
| ABSTRACT: | The Scoping Study is based on the material assumptions tabulated below. These include assumptions about the availability of funding. While AVZ considers all of the material assumptions to be based on reasonable grounds, there is no certainty that they will prove to be correct or that the range of outcomes indicated by the Scoping Study will be achieved. To achieve the range of outcomes indicated in the Scoping Study, funding in the order of approximately $380M to $400M (C5 ±35% and includes US$78m contingency)will likely be required for the 5 Mtpa (Case 2). Investors should note that there is no certainty that AVZ will be able to raise the amount of funding for Case 2. It is also possible that such funding may only be available on terms that may be dilutive to or otherwise affect the value of AVZ’s existing shares. It is also possible that AVZ could pursue other ‘value realisation’ strategies such as a sale, partial sale or joint venture of the project. If it does, this could materially reduce AVZ proportionate ownership of the project. Given the uncertainties involved, investors should not make any investment decisions based solely on the results of the Scoping Study | |
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