Suspended lithium explorer AVZ Minerals insists that a deal to raise $US240 million ($360 million) from a private Chinese investor remains live, despite having its mining licence cancelled by the Democratic Republic of Congo (DRC) government last month.
The Perth-headquartered explorer disclosed its accounts late on Thursday evening, with a cash burn of $24.5 million over the six months to December 31 and cash on hand of $36.6 million as at the period end.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
