AVZ Minerals Ltd (ASX: AVZ) shares stay on ice in the present day amid an additional buying and selling halt extension.

The explorer’s shares have been frozen since Might and final traded at 78 cents.

So why are AVZ shares nonetheless in a buying and selling halt?

Nonetheless on ice

AVZ Minerals shares are frozen after the corporate requested an extension of its voluntary suspension on the ASX.

The corporate remains to be finalising an announcement on the mining and exploration rights for the Manono Lithium and Tin Venture.

This challenge is positioned within the Democratic Republic of Congo.

Right this moment, AVZ Minerals mentioned “the corporate advises that the topic of the preliminary buying and selling halt request stays incomplete”

AVZ Minerals has requested to remain in a buying and selling halt till 15 September, or earlier if an announcement is made on the Manono Venture.

On 25 August, AVZ Minerals offered a drilling replace on the Manono Lithium and Tin Venture. The corporate suggested, “diamond drilling is progressing easily”. Eight new diamond drill holes all confirmed visible spodumene.

AVZ managing director Nigel Ferguson mentioned:

We’re completely happy to report that the primary eight holes are mineralised with coarse crystalline spodumene current. Gap MO22DD008 is positioned about 300metres north-east of the present open pit design.

AVZ Minerals share worth snapshot

The AVZ Minerals share worth has soared almost 206% prior to now yr, regardless of being in a buying and selling halt since Might.

Prior to now 5 years, the corporate’s share worth has gained greater than 457%.

AVZ Minerals has a market capitalisation of $2.75 billion.