AVZ Minerals Ltd is a junior mineral exploration company listed on the ASX. The company is focused on developing the Manono Project located in the south of the Democratic Republic of Congo. AVZ has a 60% interest in the Manono Project and a 100% interest in the Manono Extension Project.
In 2018, AVZ announced a maiden JORC Mineral Resource Estimate for the Roche Dure Pegmatite with a Total Measured, Indicated and Inferred Resources of
259.9Mt grading 1.63% Li2O (spodumene). This estimate confirmed Manono as the world’s largest hard rock spodumene deposit.
The Manono pegmatite extends for a strike length of at least 13km and is more than 240m thick in places.
Nigel Ferguson, Managing Director
Mr Ferguson is a geologist with 30 years of experience having worked in senior
management positions for the past 18 years in a variety of locations. He has
experience in the exploration and definition of precious and base metal mineral resources throughout the world, including DRC, Zambia, Tanzania, Saudi Arabia, South East Asia and Central America. He has been active in the DRC since 2004 in gold and base metals exploration and resource development.
Mr Ferguson is also a Director of Okapi Resources Ltd (ASX: OKR).
What is your rationale for attending 121 Mining Investment?
Cornerstone investor that could finance and develop the Manono Lithium Project. AVZ is currently funded to complete the Feasibility Study.
AVZ will be hoping to market to the financial institutions.
What recent news would you like to highlight to investors attending?
AVZ announced a maiden JORC Mineral Resource Estimate for the Roche Dure Pegmatite at Manono subsequent to year-end. Roche Dure has Total Measured,
Indicated and Inferred Resources of 259.9Mt grading 1.63% Li2O (spodumene) containing 4.25 million tonnes of lithium oxide (Li2O), 219Kt of tin as cassiterite grading 844ppm Sn and 11.2Kt Tantalum grading 43ppm Ta2O5 (Tantalum). The initial resource contained only 50% of the total strike, but has already established Manono as the largest hard rock spodumene deposit in the world.
AVZ is now in a position to fast-track a Feasibility Study to progress into production as quickly as possible, with many key elements already underway.
What are your key goals for the next 3, 6 and 12 months?
Completion of the scoping study.
Commencement of the Feasibility Study.
Cornerstone Investor to finance the project to production.
Continue to increase the Resource of the Manono Lithium Project.
Finalise the logistics for the Manono Lithium Project.
Completion of the Feasibility Study.
Completion of securing cornerstone investors.
Completion of some offtake arrangements.
Commencement of construction.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
– Sovereign Risk
– Transportation costs
– Human Resources
In a sentence, what do you think makes your company such a compelling investment?
The world-class scale, grade and potential of the Manono Lithium project presents investors with an opportunity to capitalise on the growing demand for lithium and electric vehicles.