In morning trade, the S&P/ASX 200 Index (ASX: XJO) was on course to start the week with a strong gain before quickly giving the majority of it back. At the time of writing, the benchmark index is up 0.1% to 6,833.6 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:

AVZ Minerals Ltd (ASX: AVZ)

The AVZ share price is up over 4% to 21 cents after announcing a new offtake agreement. According to the release, AVZ has signed a binding three-year offtake agreement for the sale of 600 metric tonnes per annum of tin concentrate to Kalon Resources from its Manono Lithium and Tin Project. This represents ~43% of its expected tin concentrate production.

Betmakers Technology Group Ltd (ASX: BET)

The Betmakers share price has jumped 8% to $1.09. This follows the release of an investor presentation this morning. That presentation gave investors a breakdown of the betting technology company’s growth plans. Particularly once the game-changing acquisition of Sportech’s Tote and Digital businesses completes. Management advised that the acquisition is on track with no material issues having emerged during the completion period and through integration planning. The acquisition remains on target to complete during the fourth quarter of FY 2021.

Santos Ltd (ASX: STO)

The Santos share price is up 2% to $7.30. Investors have been buying the energy producer’s shares this morning after a strong rise in oil prices on Friday night. Traders were bidding oil prices higher amid concerns that the Suez Canal blockage could last for weeks and have a big impact on supply.

South32 Ltd (ASX: S32)

The South32 share price is up 3% to $2.83. The catalyst for this gain appears to be a broker note out of Macquarie this morning. According to the note, the broker has upgraded the mining company’s shares to an outperform rating with a $3.10 price target. It made the move in response to increasing demand for manganese and aluminium. It notes that at current spot prices, South32 is positioned to deliver bumper free cash flows.

More reading

• Why the South32 (ASX:S32) share price is outperforming today
• Here’s why the AVZ Minerals (ASX:AVZ) share price is charging 7% higher
• Why the BetMakers (ASX:BET) share price is worth watching
• Santos (ASX:STO) share price rises on production update
• 5 things to watch on the ASX 200 on Friday

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Betmakers Technology Group Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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AMP Ltd (ASX: AMP) shares are edging lower in morning trade following two market updates from the financial services giant. At the time of writing, the AMP share price has slumped 0.37% to $1.34. 

Let’s take a look at what the S&P/ASX 200 Index (ASX: XJO) company announced. 

Joint venture update

On Friday 26 March, AMP drew ASX 200 investor attention when it reported a potential joint venture (JV) with Ares Management Corp (NYSE: ARES).

Under the proposed deal, Ares would have had a 60% stake and management control of the JV. AMP, in turn, would have received $1.55 billion cash (before associated costs) for its private markets businesses, which cover its unlisted property and infrastructure funds.

The AMP share price is on the slide today after the company reported this morning that the 30-day exclusivity period with Ares for the proposed transaction has concluded.

The company said Ares has expressed an interest in acquiring 100% of the private markets businesses. It added that while it is still working with Ares towards a potential transaction, there is “no certainty that a transaction will proceed”… including the particular terms and size of a potential deal. Shareholder approval of any deal would also still be required.

What else did AMP announce?

In a separate ASX release this morning, AMP reported it is ending its management agreement with Precinct Properties New Zealand Ltd (NZE: PCT), enabling Precinct Properties to internalise the management of its business.

The New Zealand listed real estate investment trust (REIT) will pay NZ$215 million (AU$197 million) for 100% of the management interests. AMP Capital has a 50% interest in management company AMP Haumi Management Limited and has managed Precinct since the REIT first listed in 1997.

AMP reported it expects to receive roughly AU$80 million in profit from the deal “subject to foreign currency and other adjustments” for its 50% share. The company said Precinct will no longer pay management fees after the deal is complete, stating that impact was “not material to AMP Capital’s ongoing earnings”.

AMP share price snapshot

Over the past 12 months, the AMP share price is flat. That compares to a 32% gain on the ASX 200.

Year to date AMP shares are down by around 14%. AMP pays an annual dividend yield of 3.1%, 90% franked.

More reading

• More Aussies now think shares are better than real estate
• The ASX 200 keeps climbing, TPG drops on Teoh departure, AMP still has a CEO
• AMP (ASX:AMP) share price takes wild ride on CEO’s future
• 5 things to watch on the ASX 200 on Friday
• Dexus (ASX:DXS) share price rises on proposed $15 billion fund merger

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Last week TPG Telecom Ltd (ASX: TPG) dropped a bombshell when it announced the surprise resignation of its Founder and Chairman, David Teoh, with immediate effect.

This news led to the TPG share price crashing lower and the Telstra Corporation Ltd (ASX: TLS) share price pushing higher.

Is this good news for the Telstra share price?

Analysts at Goldman Sachs have been looking into the implication of Mr Teoh’s resignation and see positives for Telstra and the telco industry.

In respect to industry pricing, Goldman believes this news will be a big positive.

It commented: “We see this as a clear positive for industry rationality, noting that the TPM Board had a track record of targeting market share growth through aggressive pricing. Consequently, following the merger between TPG and VHA, there has been an elevated risk that this price-led strategy would become evident within the new TPG mobile business, and disrupt the current market repair.”

“Hence we view this announcement as a clear positive for rationality in the Australian mobile market, reducing the tail-risk of an aggressive price-led strategy from TPG.”

This is particularly the case given that the appointment of Canning Fok as Mr Teoh’s replacement means the old Vodafone Australia team has control of the business now.

Goldman explained: “In our view, Fok’s appointment as Chair of the TPG board cements control of the business with Vodafone & Hutchinson, who now represent: (1) 50.1% of the TPG equity; (2) both CEO & Chair of the business; and (3) 5 of the 10 board members (5 VHA, 3 TPM, 2 Independent).”

Should you buy Telstra shares?

In light of the above, Goldman Sachs has reaffirmed its buy rating and $4.00 price target on Telstra’s shares.

Based on the current Telstra share price of $3.39, this implies potential upside of 18% over the next 12 months. And with Goldman forecasting a 16 cents per share fully franked dividend for the foreseeable future, the total potential return stretches to almost 23%.

The broker concluded: “Overall this announcement supports our positive view on the Australian Telco Sector into 2021, given the expected return to growth in mobile revenues and completion of the NBN margin headwinds in fixed. Our preference remains for Telstra (Buy, A$4.00 TP) as we outlined in our 2021 Outlook, given our expectations for a re-rating of the business as it becomes a ‘simple’ telco again, along with the potential upside in its infrastructure assets.”

Goldman Sachs has retained its neutral rating and $7.10 price target on TPG’s shares.

More reading

• Is the Telstra (ASX:TLS) share price a buy today?
• ASX 200 Weekly Wrap: ASX 200 gets its mojo back
• Top brokers name 3 ASX shares to buy next week
• These were the worst performers on the ASX 200 last week
• The ASX 200 keeps climbing, TPG drops on Teoh departure, AMP still has a CEO

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The SelfWealth Ltd (ASX: SWF) share price is failing to respond today after the company announced a new CEO and board restructure. At the time of writing, the online brokerage company’s shares are swapping hands for 60.5 cents.

About the new CEO

Investors appear unfazed by the company’s latest update, leaving the SelfWealth share price unchanged in morning trade.

According to this morning’s release, SelfWealth has appointed Cath Whitaker as its new CEO, effective 20 April 2021.

The company highlighted that Ms Whitaker has more than 20 years of experience in global financial services. In her most recent role, Ms Whitaker held the position of global leader of digital transformation at Marsh Inc. This saw Ms Whitaker oversee the development and implementation of Marsh’s digital and data strategy for risk management and corporate divisions.

Marsh Inc. is a wholly-owned subsidiary of international professional services firm, Marsh McLennan Companies Inc (NYSE: MMC). The parent company was founded in 1871 and is headquartered in New York. The group has an annual revenue turnover of $17 billion.

SelfWealth selected Ms Whitaker to lead its next growth phrase, after a successful 24 months. The company is focused on delivering ongoing product innovation, and digital best practices.

SelfWealth managing director Rob Edgley commented:

Our current team, together with founder and former CEO Andrew Ward, have done a fantastic job in building a fast-growing business with a trusted brand, an engaged community of traders and an innovative product offering.

We are delighted to welcome Cath as the new CEO of SelfWealth. Her impressive track record in implementing global digital transformation programs is completely aligned with the growth strategy of SelfWealth.

SelfWealth share price summary

Over the past 12 months, the SelfWealth share price has gained over 500%, and is up around 7% year to date.

On valuation grounds, SelfWealth commands a market capitalisation of roughly $124.2 million, with 205.3 million shares outstanding.

More reading

• TPG Chair resignation: Is this good news for the Telstra (ASX:TLS) share price?
• Up 13% this year, the Pointsbet (ASX:PBH) share price reflects expansion into new markets
• Why is the Zip (ASX:Z1P) share price down 30% this month?
• These are the 10 most shorted shares on the ASX
• Treasury Wine (ASX: TWE) share price sinks lower on China update

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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ASX corporate bookmaker Pointsbet Holdings Ltd (ASX: PBH) has been expanding at breakneck speed recently. Just look at the announcements Pointsbet has released to the market this year alone.

Towards the end of January, Pointsbet announced that it had obtained approvals to launch operations in Michigan. Just days later, the company signed basketball legend Shaquille O’Neal as its Australian brand ambassador.

Two weeks later, it announced that it was entering into a strategic marketing and betting partnership with the American National Hockey League (NHL). A month after that, Pointsbet revealed that it was acquiring Dublin-based risk management company Banach Technology Limited. And then, just last Friday, Poinstbet announced that it had been granted access to online sports betting markets in Pennsylvania and Mississippi.

Oh, and in the midst of this flurry of activity, Pointsbet also released its first-half FY21 financial results, in which it reported a 174% jump in revenue versus the prior comparative period (to a little over $75 million).

What about the losses?

However, the results also revealed that signing all these contracts doesn’t come cheap – losses for the half-year ended 31 December blew out to almost $86 million, up from $32.3 million a year ago.

First-half FY21 sales and marketing expenses were triple what they were for the first-half FY20, as the company invested in a series of growth initiatives. However, personnel, technology, and administration expenses were also all up substantially too.   

Currently, Poinstbet is happy to absorb these losses. It still ended the year with a strong balance sheet thanks to a massive capital raise completed in September injected an additional $353.2 million in cash into the company. Cash and equivalents were almost $390 million at 31 December 2020, and the company’s net asset position was $513.2 million.

This rapid growth trajectory has also translated into some incredible share price movements. Since listing on the ASX back in June 2019 at a price of just $2, Pointsbet shares have skyrocketed over 570% to $13.46 as at the time of writing.

This includes gains of more than 160% made in 2020 – a pandemic year in which many major sporting leagues and key events worldwide were either postponed, cancelled, or modified.

About the Pointsbet share price

Compared to its peers, Poinstbet was a bona fide market darling of the COVID-19 era. Shares in fellow bookmaker Tabcorp Holdings Limited (ASX: TAH) ended 2020 down about 10% after never really recovering from a massive selloff during the March 2020 crash. It is only just edging up towards pre-COVID prices now.

Pointsbet’s aggressive growth strategy – targeting the US market in particular – has delivered some impressive shareholder returns. Just be sure to keep an eye on those ballooning marketing costs.

The Pointsbet share price is trading at $13.40 at the time of writing.  Pointbet shares are up 13% year-to-date and have increased by 609% over the past 12 months.

More reading

• The ASX 200 keeps climbing, TPG drops on Teoh departure, AMP still has a CEO
• Why the PointsBet (ASX:PBH) share price will be on watch this morning
• Compared! How are ASX gaming share prices performing?
• ASX 200 crash anniversary: 5 of the best performing shares of the last 12 months
• Bell Potter thinks the PointsBet (ASX:PBH) share price could go 40% higher

Rhys Brock owns shares of Pointsbet Holdings Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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At the start of each week I like to look at ASIC’s short position report to find out which shares are being targeted by short sellers.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn’t quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Webjet Limited (ASX: WEB) is the most shorted ASX share despite experiencing a small reduction in short interest to 10.4%. Concerns over a third wave of COVID-19 in Europe and the floods in NSW and Queensland could be weighing on its shares.
• Tassal Group Limited (ASX: TGR) has seen its short interest slide to 10.3%. Weak salmon prices and concerns over the Australia-China trade war have hit investor sentiment.
• Inghams Group Ltd (ASX: ING) has 8.25% of its shares held short, which is up week on week. This morning the poultry company announced the surprise exit of its CEO with immediate effect.
• Flight Centre Travel Group Ltd (ASX: FLT) has seen its short interest rise to 8.2%. As with Webjet, this appears to have been driven by rising COVID-19 cases across the world despite the rollout of vaccines.
• Metcash Limited (ASX: MTS) has seen its short interest rise to 7.2%. It appears as though some investors aren’t convinced by the wholesale distributor’s recently announced growth strategy. This may be due to its notably higher than expected capex plans.
• Resolute Mining Limited (ASX: RSG) has seen its short interest reduce week on week to 6.9%. Short sellers will have been celebrating last week after the gold miner’s shares crashed lower. This was due to news that the Ghanaian government has terminated its Bibiani mining license.
• JB Hi-Fi Limited (ASX: JBH) has entered the top ten with short interest of 6.8%. Short sellers may believe JB Hi-Fi’s shares have peaked after a very strong gain over the last 12 months.
• InvoCare Limited (ASX: IVC) has 6.6% of its shares held short, which is down slightly week on week. Allegations of anti-competitive conduct in the funeral sector and speculation the company is losing market share could be behind this high level of short interest.
• A2 Milk Company Ltd (ASX: A2M) has entered the top ten with short interest of 6.1%. There are concerns that weakness in the daigou channel and a resurgence in Chinese infant formula brands could weigh heavily on a2 Milk’s performance for some time to come.
• Alkane Resources Limited (ASX: ALK) has joined the top ten with 5.9%. This gold miner’s shares are down 28% since the start of the year. However, short sellers appear to believe they can still go lower. Though, it remains unclear why they are targeting the company.  

More reading

• Here’s why the Inghams (ASX:ING) share price is in focus
• ASX 200 Weekly Wrap: ASX 200 gets its mojo back
• These were the worst performers on the ASX 200 last week
• Here’s why the Food Revolution (ASX:FOD) share price jumped 8% today
• Top broker tips Resolute Mining (ASX:RSG) share price to rise 180% from here

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended A2 Milk and Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel Group Limited and InvoCare Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Zip Co Ltd (ASX: Z1P) shares have slipped ~30% in March and almost 50% from their February all-time record high of $14.53. While the Zip share price remains positive in year-to-date returns, how did things go so sour for the leading buy now, pay later (BNPL) provider?

What’s been impacting the Zip share price?

Pending update for potential US listing 

A potential catalyst for the significant run back in the Zip share price in late-January may have been the rumours surrounding the company’s secondary listing in the United States. Zip management spent several days in front of US investors, highlighting the company’s growth story in the world’s largest economy and attracting US investor interest. US tech shares typically fetch a higher valuation and a secondary listing could benefit the Zip share price. 

Two months on, however, and the market has yet to receive any clarification about a secondary listing. 

“Grim near-term outlook” 

Macquarie Group Ltd (ASX: MQG) released a research report on 24 March for Afterpay Ltd (ASX: APT) titled “Buy Now Pay 2030”. The report mapped out a 10-year flightpath for the BNPL industry, including key inflection points and key triggers. 

The report noted that: 

The BNPL industry has seen explosive growth in the past few years and quickly gained popularity as a payment alternative, but as with many other such trends experienced in the past (China Commodities in 2015, China Autos in 2018), we think an excessive number of participants has entered the industry in the near term resulting in industry overcapacity.

We expect this to be followed by a few years of industry consolidation (i.e. pain for all players) before industry normalisation at a healthier supply/demand equilibrium.

A relevant example could be ASX lithium shares that have experienced a similar boom, bust and consolidation cycle.

Despite the grim outlook, the commentary sees the industry become healthier at the end of the cycle, with the “strong getting stronger and the weak losing out”. 

Broader weakness for ASX tech shares 

The Zip share price slump since mid-February has largely coincided with the weakness across the broader tech sector. The S&P/ASX 200 Info Tech Index (ASX: XIJ) reached an all-time record high on 10 February, before falling ~17% to a 5-month low. This compares to the S&P/ASX 200 Index (ASX: XJO) which is relatively flat over the same period. 

More reading

• Are there any bargains when everyone knows everything?
• ASX 200 Weekly Wrap: ASX 200 gets its mojo back
• 5 things to watch on the ASX 200 on Monday
• 2 of the best ASX growth shares to buy in April
• How does the Afterpay (ASX:APT) share price size up against US-listed Affirm?

Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Treasury Wine Estates Ltd (ASX: TWE) share price is sinking lower on Monday morning.

In early trade, the wine company’s shares are down 4% to $10.37.

Why is the Treasury Wine share price sinking?

Investors have been selling Treasury Wine shares on Monday after China’s Ministry of Commerce (MOFCOM) confirmed that it would be placing tariffs on Australian wine for five years.

This was the result of the MOFCOM’s final determination in its anti-dumping and countervailing investigations into certain Australian wine exports into China.

What was the final determination?

According to the release, MOFCOM’s final determination is that a combined anti-dumping and countervailing duty rate of 175.6% shall be applied to Treasury Wine’s Australian country of origin wine in containers of two litres or less imported into China. This duty rate is consistent with the provisional measures that were placed on its wines late last year.

This essentially means that a $50 bottle of wine would now cost $137.80 after duties have been applied.

The release notes that the final determination became applicable from 28 March and will remain in place for at least five years.

What now?

Treasury Wine has previously warned that demand for its portfolio in China will be extremely limited while these measures are in place. So, this looks set to be the case for at least the next five years.

In light of this, the company has reiterated that it is working hard to grow its business outside China.

Management commented: “As previously announced as part of its half year results release, TWE is executing a detailed response plan to maintain the long-term strength of its business model and brands, with benefits expected to progressively reach their full potential over a two to three-year period. Today’s final determination does not result in any change to those plans.“

More reading

• 5 things to watch on the ASX 200 on Monday
• Insiders have been buying SEEK (ASX:SEK) and this ASX share
• 2 top ASX ETFs to buy right now
• 2 high yield ASX dividend shares to buy today
• Why Flight Centre, Northern Star, Southern Cross Media, & Treasury Wine are sinking

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Althea Group Holdings Ltd (ASX: AGH) share price is pushing high today after announcing a new product launch.

At the time of writing, the cannabis company’s shares are up 2% to 53 cents.

What did Althea announce?

This morning Althea announced further additions to its range of medicinal cannabis products.

According to the release, Althea has officially launched a new and innovative range of 20ml full-spectrum cannabis oil products. These products carry the same trade names, and utilise the same formulations, as existing in-market Althea 50ml and 100ml sized products.

The release explains that the 20ml sized product is designed to promote flexibility in a patient’s treatment. This is especially in the case of initiating patients and those suffering from intermittent illnesses.

Management notes that the smaller unit size provides new medicinal cannabis patients with an option to trial the medication over the recommended two or three-week titration period. After which, in conjunction with their Healthcare Professional, they can determine if the treatment was beneficial for them.

The company believes that when the patient experiences a positive outcome from their medication, they will transition to the more economical larger sized bottle.

Why did it make the move?

Althea believes that costs have prohibited many patients from trialling medicinal cannabis as a treatment option.

It notes that a recent Australian Government inquiry received evidence that cost was “…one of the biggest barriers for patients struggling to access medicinal cannabis.”

By expanding its product portfolio, the company aims to provide price-sensitive patients with a lower entry point, potentially boosting patient acquisition.

Althea’s CEO, Joshua Fegan, commented: “At Althea, we understand that price remains a challenge for many potential new patients that want to trial medicinal cannabis for their conditions. We believe the launch of the new Althea ‘flexi’ 20ml cannabis oil range will be a great way to provide more access to patients via trial size products. This will in turn build confidence in our medicines and brand as we continue to be the first choice for a growing number of Australia’s medicinal cannabis patients.”

Following today’s gain, the Althea share price is now up 20% in 2021.

More reading

• How Mexico could turbocharge ASX cannabis shares
• Why the Althea (ASX:AGH) share price is pushing higher today
• Why the Althea (ASX:AGH) share price is pushing higher today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The AVZ Minerals Ltd (ASX: AVZ) share price has been a positive performer on Monday.

In morning trade the lithium-focused mineral exploration company’s shares are up 7.5% to 21.5 cents.

Why is the AVZ Minerals share price charging higher?

Investors have been buying AVZ Minerals shares this morning following the announcement of a new offtake agreement.

However, rather than being a deal for its lithium product, this offtake agreement is actually for its tin concentrate.

According to the release, AVZ Minerals has signed a binding three-year offtake agreement for the sale of 600 metric tonnes per annum of tin concentrate to Kalon Resources. The pricing will be based on a formula linked to LME tin price. This represents ~43% of its expected tin concentrate production.

What is Kalon?

Kalon is a fully owned subsidiary of Noble Group Holdings. The release explains that it specialises in the physical commodity trading and supply chain management of industrial minerals and metals. This includes concentrates of tin, tungsten, niobium, tantalum, alumina, and aluminium. It also handles special ores such as chrome, manganese and iron ore.

Management notes that Kalon is a major participant in the tin market, handling several thousand tonnes of tin concentrate a year.

AVZ’s Managing Director, Nigel Ferguson, commented: “After an unexpected delay in finalising this contract, we are very pleased to have finally signed with Kalon, our first tin offtake agreement – just weeks after having signed our second lithium offtake agreement that cumulatively provides binding commitments for more than 50% of our saleable SC6 product.”

“Given the rising LME cash price of tin metal, up approximately 30% YTD, this offtake agreement is significant for the Manono Project and also significant given that Kalon is a considerable participant in the tin industry. While this agreement represents a relatively small, but growing portion of revenue for the Manono Project, it does confirm another large international business is willing to secure future supply from the project.”

“Similar to our recent lithium offtake agreements, this tin concentrate offtake agreement with Kalon will assist the Company in meeting certain conditions precedent which are required from our prospective financiers. Again we look forward to finalising some further offtake agreements for the remainder of the project’s products to satisfy some of the criteria our potential lenders have requested.”

More reading

• The AVZ Minerals (ASX:AVZ) share price jumped 18% to a 52-week high today
• Why AVZ, Legend Mining, Nuix, & Vocus shares are surging higher
• Why the AVZ Minerals (ASX:AVZ) share price is surging 15% higher today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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