AVZ appears to be held in recent trading range. If I didn't know better I would say it's being held at this price while MOU partners are completing their due diligence on a strategic investment. Now that assays are started to come in then it should be too long before they pull the trigger.
AVZ is one stock that has not had a settled time in recent weeks at all, with the ASX hitting them with a number of queries, and the charts are reflecting this. There is a bit of a messy Head and shoulders pattern formed. I had expected it to bounce by now, the continued fall is rather concerning. Another concern is there could be a long way to fall if it dips...
Regardless of two recent ASX queries - the fundamentals of Manono as a tier-1 lithium and tin asset have not changed. The first lot of lab results from this 20,000m drilling campaign due over the following two weeks.
AVZ Minerals now has GreatPower, TINCI, BNBT and Huayou all interested in potential investment or offtakes in Manono. These Chinese powerhouses know the value of Manono regardless of its location in the DRC. Awaiting follow up news from the BNBT site visit this week as well as a drilling update.
$TAW $AVZ and $KDR - 12 month performance comparison.
Buys on market close Friday Shares bought = 34,184,616 Value = $10,255,384.80. Additional 9mm bid that was not filled at 30c so an additional 9 million may be bought on open Monday. Personally, I'm expecting news first thing on Monday as I have never seen a close like this. World class Tier-1 Tin mine and now massive lithium resource will only gain more...
Chinese MOU chess in full swing. Pressure on $CATL to pull up a chair or look elsewhere for a lithium supply source. Expect a drilling update this week as well.
Attention will now focus on drilling updates and results over the next 8 weeks in what will verify if Manono is indeed the largest Lithium hard rock mine in the world. Ther kicker here is that drilling will also confirm the status of Manono also as previous Tier-1 Tin mine. Chart Wise - the graph looks great and ready to pop on positive news. Previous...
Long term trend line has broken suggesting a larger pull back may be required. The company have appreciated around 1000% over the past 6 months and the buyer reach appears exhausted. Key support at 12.5c is the target for this short trade concept
$AVZ weak vol move upwards. 3rd push looks to be coming undone at the seams with a key trend break. Price has pushed back to the trend level. Little risk for potential big reward. Lots of HC and general market support for this stock. Lots of ramping. And you know how that goes. DRC tax ruling in addition to general negative market conditions adds to my short bias....
Ok, apparently the congo has just passed a low that doesn't actually effect $AVZ, however the market being stupid as always they will likely read it wrong and we might have another down day tomorrow for Congolese miners.
Be looking for at least 2.5cents bare minimum tomorrow, maybe even another gap up.
A very straightforward trade here for short-term or even long-term holders. 20,000m drilling program to establish a maiden JORC for Manono next quarter. Looking at the world's biggest lithium deposit once completed.
The first drill rig should be starting to turn this week on site. Expect the share price to only go up from here as day and short-term traders rush in to capitalise on pending results. - Strong Buy Key Upcoming Price Catalysts ----------------------------- 1. AVZ Execs in Canada with major funds & instos now; 2. Commencement of Drilling-Mid Jan with 5 rigs on...