AVZ Minerals to invest $18m for Manono lithium and tin project in DRC
2022-02-11 15:16:26 [Print]
Australia-based AVZ Minerals is set to make a $17.9m (A$25m) investment to support early works and exploration drilling at the Manono Project in the Democratic Republic of the Congo (DRC).
A portion of a recent A$75m capital raising, the funds are expected to help the firm maintain the Manono lithium and tin project's progress timetable.
The company is planning to allocate around $13.6m (A$19m) for the early works programme during the second half of the 2021/2022 financial year while the remaining $4.3m (A$6m) will be used for additional resource drilling at Roche Dure deposit.
Located 500km north of Lubumbashi, the project hosts the Roche Dure Mineral Resource, which is claimed to be one of the world's largest undeveloped hard rock lithium deposits.
A portion of a recent A$75m capital raising, the funds are expected to help the firm maintain the Manono lithium and tin project's progress timetable.
The company is planning to allocate around $13.6m (A$19m) for the early works programme during the second half of the 2021/2022 financial year while the remaining $4.3m (A$6m) will be used for additional resource drilling at Roche Dure deposit.
Located 500km north of Lubumbashi, the project hosts the Roche Dure Mineral Resource, which is claimed to be one of the world's largest undeveloped hard rock lithium deposits.
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