AVZ Minerals has had to address another overshare on Twitter by advisor
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AVZ Minerals has again had to tell shareholders to ignore a Twitter post made by its Singapore-based advisor.
The company (ASX:AVZ) said this morning that Michael Langford, an executive director of AVZ’s advisor Airguide International, posted information on Twitter in relation to AVZ that included a resource estimate and production cost estimates.
The June 24 post appears to have been removed from Twitter.
“The company advises that it has yet to report a mineral resource estimate in accordance with the JORC Code 2012 or any technical studies involving production cost estimates to a level where it has ‘reasonable grounds’ under ASIC Regulatory Guide 170 to disclose this forecast financial information to the market,” AVZ said in a statement released to the ASX.
“The company warns that investors should not rely on information in relation to AVZ securities other than the company’s announcements made through the ASX market announcements platform.”
AVZ pays Singapore-based consultant Airguide $US25,000 a month for consulting.
The ASX is cracking down on social media posts and AVZ has been on the hook a few times over other tweets made by Mr Langford.
It has been an eventful week for AVZ, with the company announcing earlier this week that high profile mining entrepreneur Klaus Eckhof was standing down as chairman.
Mr Eckhof spoke to Stockhead following the news, revealing why he stepped down and saying AVZ had “a world-class resource coming out in the next four weeks”.
AVZ also notched a new record while drilling for lithium in the Congo – reporting an intersection of 341.62m – the largest hit to date at its Manono project.