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AVZ mineral shares were halted news pending

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(Kitco News) - ASX listed AVZ Minerals (AVZ:ASX) shares were halted overnight after the firm was granted a trading halt by the ASX with an announcement pending in relation to a binding offtake agreement.

The company has a market capitalisation of A$269.5 million said this halt will remain in place until the beginning of ASX trade on Tuesday, December 29, or when an announcement is released to the market, whichever occurs earlier.

The company’s non-executive chairman John Clarke stated "despite a global pandemic the company had delivered significant progress for its world-class Manono Lithium and Tin Project in the DRC.".

He then added “Our team is diligently working towards securing multiple offtake agreements and project finance deals and, while we would all like these deals to have been signed and delivered, it does take time and effort to make sure the company secures the ‘right’ offtake agreement and the ‘right’ finance deal for the long-term benefit of AVZ. The company believes, once these contracts are executed, the board will be ready to make a final investment decision to mine our flagship project.”.

As you can see the share price has been pretty volatile this year but the last few months there has been a steady incline. The 0.105 area is now a key zone but with this news announcement hanging over the company we will have to see how the move progresses. 

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