Mining company AVZ Minerals Limited [ASX:AVZ] shares are already beginning to come back after yesterday’s sudden drop, with today’s share price rising 7.37%.
This is in part due to prior exploration activities that has allowed AVZ to capitalise from its projects, one of them being AVZ’s Manono project.
AVZ took blows but were able to quickly recover
Its Manono Project is one of its strongest developments, as it produces a consistent turnout of resources.
AVZ holds 60% of the project, while funding the expenditure.
The Manono project is located in the Congo, Central Africa and produces high quantities of lithium.
AVZ’s initial phase of drilling turned over a huge amount of diamond drill holes as well as testing four of its largest pegmatites.
AVZ are currently focused on drill extensions and various segments of resource definition.
Many Asian based companies have shown a great amount of business in AVZ investments.
Small Caps reported that Klaus Eckhof stated:
‘AVZ continues an active dialogue with multiple Chinese groups seeking investment opportunities in the company and project, the company anticipating making further announcements regarding these discussions in the “coming weeks”.’
Manono is currently going through extensive operational developments, which in turn have produced highly efficient results over time.
AVZ is aiming for a resource target of 1.2 billion tonnes worth of lithium, which at this stage is an anticipated focus.
Even though this expectation was considered in March, the Manono project has since pushed through some great results.
AVZ is a perfect example of how quickly the mining boom can help an exploration company bounce back after a sharp share drop.
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