This morning AVZ Mineral Limited [ASX:AVZ] shares rose 12.28%.
Their market cap stands at $575.39 million and Enterprise value at a steady $419.03 million.
AVZ shares have been significantly increasing since October last year, as they have gone through comfortable growth from late 2017 and into 2018.
The lithium mineral company has risen 30% in shares since the beginning of 2018.
Their return on assets have seen a slight dip by -4.70%, as well as their return on equity falling by -10.17%
AVZ have been busy lately
Their first drill hole of a massive 20,000 mater drilling program has progressed to a 295 metre pegmatite.
The Roche Dure Pegmatite which is a part of the Manono project, proved to be thicker than they anticipated.
AVZ hold 60% of the entire Manono project, as they fund the expenditure to peruse completion.
They have received outstanding results from the initial drilling program at Manono in 2017.
Last December they hit record high on lithium potential, as they could be the largest source of lithoid in the world.
They have identified the largest areas containing large quantities of pegmatites, as well as smaller areas containing spodumene and other lithium materials.
Last year the company signed a Memorandum of Understanding with Shanghai company Great power Industry Co. Ltd for further investment potential.
How will AVZ continue to breach successful boundaries?
AVZ Minerals Limited will continue to explore further mineral properties in Central Africa.
Chris Pash from Business Insider Australia states:
‘AVZ will pay state-owned enterprise Cominiere $US6 million ($A7.8 million) in cash in instalments over three years and privately-owned Dathomir Mining Resources US$750,000 ($A980 million) in cash plus 260 million shares. Other related parties get another 160 million shares.’
So far their drilling and sampling has produced results from a minimum of 1.43% of lithium to a maximum of 4.46% lithium, a further increase in results is anticipated.
Hinges on the 20,000-metre drilling program is expected to be completed by March or April this year.
Editor, Markets & Money
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