AVZ Discussion 2022

[Cumquat Cap]

The liquidation meeting in regards to coniniere not adhering to interim orders. No doubt a short meeting with a bunch of illiterate fuckwits.

I wonder how Zijin/com law firm (Gassin?) are explaining all these losses to their clients. Disgraceful

 

[Pokok]

Yes. It's still a public company

In a company delisted from the ASX, "shareholders will continue to have the protections applicable to public companies under the Corporations Act. While the Company continues to have in excess of 100 Shareholders, the Company will be an ‘unlisted disclosing entity’ for the purposes of the Corporations Act, and will therefore remain subject to the continuous disclosure provisions in section 675 of the Corporations Act, which require an entity to lodge certain material information with ASIC.

The Company will also continue to be subject to obligations to prepare audited annual and half-yearly financial statements under Part 2M.3 of the Corporations Act and will be required to hold an Annual General Meeting at least once each calendar year and within five months after the end of its financial year in accordance with section 250N of the Corporations Act."

I think its now getting to a point of near-certainty that we'll be delisted. It's not the end of the world, though it'll no doubt be useful propaganda fodder for our opponents.

It was a near certainty AVZ was going to be listed when we saw how many court cases and hoops we had to jump through , very disappointed a great company that could have created so much wealth for many hard working Australians has fallen which I now think will not recover anytime soon , the thought of any other company TA is just a dream now , lets say this years AGM will need to be filled with questions and I trust that the Fat Fuc$% tails are banned from entering so we can have a decent question time with honest answers . Very disappointing 2 years .

 

[marksmann007]

I really hope management are making a strong case to the ASX for a 3-6 month extension.
Every other bloody imminent thing AVZ related gets extended so why not this?
I’m not liking the idea of delisting, more ammunition for the corrupt arseholes. Still plenty of unfinished business & moving parts at play here in the short term.
Delisting AVZ now doesn’t make sense.

 

[protoje]

https://x.com/aldysheky/status/1776168830135386226?s=46&t=eMR_2PPrXd0wNDfxtAYHpg

 

[Carlos Danger]

I really hope management are making a strong case to the ASX for a 3-6 month extension.
Every other bloody imminent thing AVZ related gets extended so why not this?
I’m not liking the idea of delisting, more ammunition for the corrupt arseholes. Still plenty of unfinished business & moving parts at play here in the short term.
Delisting AVZ now doesn’t make sense.

Nothing will change in the 3 to 6 months after the 2 year suspension date so what's the point. I can't find the post but from memory someone who wrote a summary of the latest AGM noted Nigel wasn't that bothered by the prospect of us being delisted.

I wouldn't be either if I was getting 400k a year plus paying myself a 240k bonus during suspension for the inconvenience of being in the country where our only asset is for 2/3 of a year after not going there for a couple of years because I was scared of sniffles.

It's abundantly clear that unless we give up our claim to the north that we waived we will need to spend years if not decades chasing our money. And at this point even that probably won't be enough under current management.

 

[Hudnut]

I really hope management are making a strong case to the ASX for a 3-6 month extension.
Every other bloody imminent thing AVZ related gets extended so why not this?
I’m not liking the idea of delisting, more ammunition for the corrupt arseholes. Still plenty of unfinished business & moving parts at play here in the short term.
Delisting AVZ now doesn’t make sense.

Unfortunately, it'll be a hail mary I think.
While ASX listing rule 17.12 removed the 2 year suspension rule, Guidance Note 33 is still in effect.
This effectively brought in 2 year rule back into play on 3/2/2020.
An extension will only be granted if we are in the final stages of implementing a transaction that brings us back into resuming trading, and that transaction has been released to market.

Alternatively as others have pointed out before, we need to comply with listing rules that we have decided not to comply with (which resulted in our involuntary suspension). I can't see the ASX giving us an extension given we've decided not to comply with listing rules for 2 years.

 

[Hudnut]

Nothing will change in the 3 to 6 months after the 2 year suspension date so what's the point. I can't find the post but from memory someone who wrote a summary of the latest AGM noted Nigel wasn't that bothered by the prospect of us being delisted.

I wouldn't be either if I was getting 400k a year plus paying myself a 240k bonus during suspension for the inconvenience of being in the country where our only asset is for 2/3 of a year after not going there for a couple of years because I was scared of sniffles.

It's abundantly clear that unless we give up our claim to the north that we waived we will need to spend years if not decades chasing our money. And at this point even that probably won't be enough under current management.

Yep. We're in for a long haul I think.

I'd like to know when we get an outcome re: liquidation of fines hearing that was supposed to have been held on Wednesday. We're going to need funding.

 

[Samus]

Yes I'm also looking forward to my cheque in the mail some time over the next decade at this point. In the meantime we're all condemned to put up with eachother whether we like it or not.

 

[RHyNO]

I think it’s important as shareholders that we all make it known to the millionaire boys club who have delivered absolutely nothing of their imminent good legal title promises. That we are very disappointed with the delisting.

 

[Dave Evans]

Nothing will change in the 3 to 6 months after the 2 year suspension date so what's the point. I can't find the post but from memory someone who wrote a summary of the latest AGM noted Nigel wasn't that bothered by the prospect of us being delisted.

I wouldn't be either if I was getting 400k a year plus paying myself a 240k bonus during suspension for the inconvenience of being in the country where our only asset is for 2/3 of a year after not going there for a couple of years because I was scared of sniffles.

It's abundantly clear that unless we give up our claim to the north that we waived we will need to spend years if not decades chasing our money. And at this point even that probably won't be enough under current management.

Not like you to be so negative Carlos. The ICC and ICSID are well aware of Cominiere’s corruption and Zijin’s constant stalling practices and there’s a limit on how long they can get away with it.

Remember that lion you’re always talking about, we are trying to bring down a pack of jackals and we’re having to go about it through arbitration (the slow way).

I’m on this every day for the last two years and I don’t see it lasting until the next AGM

 

[RHyNO]

there’s a limit on how long they can get away with it.

That’s promising Dave. What do you think creates that limit? They clearly don’t adhere to any form of ethics or governance aside from CCP? Penny for your thoughts.

 

[Carlos Danger]

Not like you to be so negative Carlos. The ICC and ICSID are well aware of Cominiere’s corruption and Zijin’s constant stalling practices and there’s a limit on how long they can get away with it.

Remember that lion you’re always talking about, we are trying to bring down a pack of jackals and we’re having to go about it through arbitration (the slow way).

I’m on this every day for the last two years and I don’t see it lasting until the next AGM

I see it more as being realistic than negative

We will win the arbitrations but it will take time. And I don't think the timelines of those potentital victories and eventual enforcements if necessary have been adequately communicated to shareholders. The only reason we know that the first hearing on merits at the ICSID will be in June 2025 is because of 9card.

Managing expectations hasn't been a strong suit of the bod and there are a lot of people hurting from the last 2 years that have been repeatedly deflated from being let down. For me it's better to have the mindset of expecting the worst but hoping for the best. Or put another way to under promise and over deliver.

Thanks to Cominiere signing contracts with Zijin the DRC government faces arbitration either way at this point unless the tenement is split. And if I were them I would rather battle tin rattling AVZ at the ICSID than the deep pockets of Zijin. Especially if Zijin are willing to pay for lawyers to represent them and we aren't. Hopefully a negotiated outcome is reached soon but I doubt it without major concessions from our side.

It's now been 80 days since the ICSID ordered the DRC to put the south back in Dathcom's name and still nothing. And management wouldn't have initiated the new provisional measures request asking for financial penalties for non compliance with the interim orders if they really thought the delays were due to waiting for the formation of the new government imo

 

[Cumquat Cap]

BOD have been shithouse at communication, execution and financial management. Unpopular opinion but they have treated shareholders poorly and I’m fucking over it - they better achieve a financial outcome for shareholders after the amount they’ve paid themselves whilst the lawyers have handled 90% off affairs. Piss weak all around

 

[wombat74]

Nothing will change in the 3 to 6 months after the 2 year suspension date so what's the point. I can't find the post but from memory someone who wrote a summary of the latest AGM noted Nigel wasn't that bothered by the prospect of us being delisted.

I wouldn't be either if I was getting 400k a year plus paying myself a 240k bonus during suspension for the inconvenience of being in the country where our only asset is for 2/3 of a year after not going there for a couple of years because I was scared of sniffles.

It's abundantly clear that unless we give up our claim to the north that we waived we will need to spend years if not decades chasing our money. And at this point even that probably won't be enough under current management.

Has it ever officially been verified AVZ can secure Roche Dure if it gives up CDL ? If it has I haven't seen it . More like China want CDL and Roche Dure . IMO

 

[Bray]

BOD have been shithouse at communication, execution and financial management. Unpopular opinion but they have treated shareholders poorly and I’m fucking over it - they better achieve a financial outcome for shareholders after the amount they’ve paid themselves whilst the lawyers have handled 90% off affairs. Piss weak all around

We’ve been saying this for yonks now but apparently we’re overreacting and being sooks

 

[Xerof]

https://x.com/aldysheky/status/1776168830135386226?s=46&t=eMR_2PPrXd0wNDfxtAYHpg

 

[Cumquat Cap]

I don’t give a fuck it someone calls me a sook, Nige and Graeme been eating good last few years, Jan has no worries in the world having managed to sell his shares before the halt (and warned Leonard to do the same apparently although that’s probably bullshit). Ben has worked his ass off from what I’ve seen.

Hope they read this, time to fkn execute you are African specialists who should’ve had safeguards in place for this corruption. They won’t last the next agm if nothing concrete tabled imo

 

[Cumquat Cap]

Yeah Kanku, Lisette and Felix all work together/protect each other and are corrupt as fuck

 

[Roger2018]

I don’t give a fuck it someone calls me a sook, Nige and Graeme been eating good last few years, Jan has no worries in the world having managed to sell his shares before the halt (and warned Leonard to do the same apparently although that’s probably bullshit). Ben has worked his ass off from what I’ve seen.

Hope they read this, time to fkn execute you are African specialists who should’ve had safeguards in place for this corruption. They won’t last the next agm if nothing concrete tabled imo

Who would you get to replace the current bod? Serious question