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AVZ Minerals owns a 60 per cent stake in the Manono lithium project in DRC.

AVZ attracts Chinese investor for $15m raising

Africa-focused lithium explorer AVZ Minerals has attracted a Chinese miner for the bulk of a $15 million capital raising, which has been priced to take advantage of a recent doubling in its share price.

In a statement today, Perth-based AVZ said Huayou International Mining, a subsidiary of Shanghai-listed miner Zhejiang Huayou Cobalt, would acquire an 11 per cent stake in the company through the placement of 186 million shares at 7 cents each, worth $13 million.

AVZ also plans to raise a further $1.9 million through the placement of 28.3 million shares at the same price, to institutional and sophisticated investors.

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AVZ Minerals (AVZ)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 29/09/17

1 year TSR5 year TSR
15thAVZ Minerals810%47%
719 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

29/06/17
$0 Issued
29/06/17
$0 Other
24/05/17
$0 Issued
Total value as at the date of the transaction
Source: Morningstar

Revenue

th-AVZ Minerals$2k
489 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from AVZ Minerals

170thKlaus Eckhof$135k
1523rdPatrick Flint$36k
Ranked by total remuneration from all listed WA companies

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