AVZ Discussion 2022

[TDITD]

Certainly agree with you there. I hope there's no offer on the table. However, as we are mushrooms and kept in the dark about what's going on over there. A low TO offer may be a way of saying "we'll take the trouble off your hands" and depending on how much fight nige has left in him, he may just accept it(pending our approval of course) fingers crossed it's all sorted out and we are just throwing ideas out due to boredom.

Christ yes, all virtually sorted announcement imminent. Nigel has mentioned before that we have had that type of offer before in the past and has batted it away, so one can only hope his resolve is unwavering. It’s funny as we all virtually expect a TO offer has been or will be made, the only talking point is over is it a serious TO offer (I.e one hard to turn down) or a cheap shot type offer which they would surely know has been tried in the past an wasn’t successful.

 

[Carlos Danger]

All the posturing from AVZ seems to indicate that mining Manono is still the desired choice for management. Seems pointless to be employing lawyers for arbitration and holding press conferences if a takeover is on the cards. Could be to strengthen the negotiating position or be a backup in case the deal falls through but it doesn't add up to me that a takeover is being considered at the moment.

Hypothetically if a takeover does happen then how would AVZ get around the FIRB if the offer is from a Chinese company or companies?

AVZ may not need to as any potential takeover could be approved by the Albanese government which is thawing relations with China. But if it was knocked back would the company simply sell their position in Dathcom and then pay a special dividend to shareholders?

If so then the question would be if they wind up AVZ all together or pay part of the proceeds as a dividend and use the remaining cash to acquire more tenements and continue being an explorer. Possibly a long term deal where AVZ gets cash and a small percentage of the takeover entity in exchange for FROR on any future discoveries. Not that those rights are worth the paper they are written on sometimes.

 

[TDITD]

All the posturing from AVZ seems to indicate that mining Manono is still the desired choice for management. Seems pointless to be employing lawyers for arbitration and holding press conferences if a takeover is on the cards. Could be to strengthen the negotiating position or be a backup in case the deal falls through but it doesn't add up to me that a takeover is being considered at the moment.

Hypothetically if a takeover does happen then how would AVZ get around the FIRB if the offer is from a Chinese company or companies?

AVZ may not need to as any potential takeover could be approved by the Albanese government which is thawing relations with China. But if it was knocked back would the company simply sell their position in Dathcom and then pay a special dividend to shareholders?

If so then the question would be if they wind up AVZ all together or pay part of the proceeds as a dividend and use the remaining cash to acquire more tenements and continue being an explorer. Possibly a long term deal where AVZ gets cash and a small percentage of the takeover entity in exchange for FROR on any future discoveries. Not that those rights are worth the paper they are written on sometimes.

Agreed it would be somewhat from left field as all indications are that AVZ want to go mining.
If they were to sell their holding in Dathcom then FIRB can’t do anything as that’s a DRC entity.
So possibly a similar scenario to PSC where AVZ pay a special dividend to us and carry on as AVZ with our 2 100% adjoining tenements. Very much doubt they would take on any deal involving percentages or rights, after the way everyone surrounding this has behaved they would have to be certifiably insane.

 

[cruiser51]

Prime Minister Jean-Michel Sama Lukonde received the President of the Constitutional Court Dieudonné Kamuleta​

July 29, 2022 by COMMUNICATION CELL in NEWS

Prime Minister Jean-Michel Sama Lukonde, received in audience, this Thursday, July 28, 2022 at the Primature, the President of the Constitutional Court, High Judge Dieudonné Kamuleta Badibanga. At the end of the hearing, the number 1 of the high court of the Democratic Republic of Congo confided in the press in these terms:
“It is within the normal framework of exchange between institutions. I had just been invested. It was right to come and meet the Prime Minister for an exchange between our two institutions,” said Dieudonné Kamuleta.
As a reminder, Judge Dieudonné Kamuleta Badibanga was elected President of the Constitutional Court on Tuesday, June 21, 2022 by his peer judges, following an elective plenary assembly in accordance with Article 158 paragraph 5 of the Constitution of February 18. 2006 as revised. He succeeded Dieudonné Kaluba Dibwe who left the Court in a draw, along with two other judges Prince Funga Molima and Polycarpe Mongulu who died.

 

[Xerof]

Lukonde is never a happy looking chappie is he. Speaking of 'replacements', I saw on twitter that Felix the cheshire cat has 'replaced' a large number of people in various levels of various institutions, courts, tribunals, the counsel of state........things are moving, slowly, probably slower than Nigel's estimated 2 weeks though.

I also read in the Friday minutes that there is a planned exit known as compulsory retirement of a very large number of public servants. The broom is sweeping

 

[bloke383]

Yes it does feel somewhat like we are being worn down, it’s almost the SOP for a TO, the Chinese want this cheap. The ridiculous thing is they will have it cheap at $3 a share ffs, but they won’t want to pay that if brown paper bags and snacks are more effective.

Juicy at $1.50 , fuck that for a joke. It wouldn’t be juicy if they had a gun to my head and told me the bastards are now going for JAGS right nut.

I'm not concerned about shareholders being worn down , I'm more concerned if management are . If a predatory TO offer were to be put to us , it almost certainly means it is a done deal & the price has already been decided/accepted . A predatory TO offer would be framed around the current share price , not previous highs , or what true value really is . Retail share holders vote is basically meaningless in this situation (PSC anyone ? Yes I'm still pissed that the Chinese stole that too)
I hope that Nige & the BOD resolve is as strong as ever .

I don't think there will be a TO anytime soon if management can remain strong , because as Dazmac66 asked elsewhere last night
"Take-over of what exactly? Wouldn't all this shite need to be sorted first?"

A TO offer now , of a disputed mining licence over half of our original project would be the worst possible outcome , imo .

 

[Samus]

For anyone who hasn't seen it yet, further info regarding Cominière press conference courtesy geo_au and some troll on the Crapper:

RDC/Projet d'étain et Lithium de Manono : La COMINIERE SA dévoile les allégations mensongères de la société AVZ et éclaire l'opinion sur la gestion de ce projet - La Rupture News

Devant les chevaliers de la plume, Me Popol Mwamba Mukengeshayi, avocat conseil de cette entreprise,...

larupturenews.cd

RDC : la COMINIERE SA réfute le montant de 70 millions USD avancé par AVZ comme coût de réalisation de l’étude de faisabilité du projet Lithium de Manono (Avocat)

Maître Popol Muamba, l’avocat conseil de la société la congolaise d’exploitation minière (COMINIERE SA), a balayé d’un revers de la main ce qu’il a qualifié de contre-vérités de la société AVZ et ses avocats conseils. Il a fait cette déclaration, le samedi 30 juillet 2022, au cours d’une...

zoom-eco.net

 

[Winenut]

I've never seen so many blowins and newbies on the thread nor the level of TO talk with shitful pissant $ estimates

Mmmm....

 

[TDITD]

I've never seen so many blowins and newbies on the thread nor the level of TO talk with shitful pissant $ estimates

Mmmm....

So eloquently put Winenut ‘shitful pissant $ estimates’

ML in hand, ready to drop BFS with 66% after CATL 24%.
No more shitful pissant $ estimates !

 

[Dazmac66]

I don't really understand all this takeover bullshit, if you want something you need to fight for it. AVZ management have never hinted of anything other than owning a 'globally significant' mine producing for years into the future with diversification down the track. As shareholders we need not make it harder for them, standup against the pricks trying to steal from us.

 

[Charbella]

What is this all about? Can anyone here share some light?

Speaking of AVZ'S CLAIM POSSESSION OF 75% OF SHARES IN DATHCOM MINING SA, COMINIERE SA gives the following clarifications:

- On June 15, 2022, Mr. NIGEL FERGUSON, Chairman of the Board of Directors of DATHCOM MINING SA, had notified the invitation to the written consultation of the Board of Directors to be held from June 15, 2022 to June 24, 2022 at 11:59 p.m. by email, which the said convocation had on the agenda:

1) Recognition of the transfer of 750 company shares between AVZ International and Green Lithium Holding,

2) The update of the register of registered securities concerning the transfer of 750 shares between AVZ International Pty and Green, Lithium Holding PTE Ltd, in response to this summons, by its correspondence referenced CM/DG/043/amm/2022 of 23 June 2022, COMINIERE SA, criticizing the irregularities of the envisaged approach, opposed the holding of the meeting of the board of directors thus convened, specifies the consulting lawyer of this company.

 

[Bin59]

For anyone who hasn't seen it yet, further info regarding Cominière press conference courtesy geo_au and some troll on the Crapper:

RDC/Projet d'étain et Lithium de Manono : La COMINIERE SA dévoile les allégations mensongères de la société AVZ et éclaire l'opinion sur la gestion de ce projet - La Rupture News

Devant les chevaliers de la plume, Me Popol Mwamba Mukengeshayi, avocat conseil de cette entreprise,...

larupturenews.cd

RDC : la COMINIERE SA réfute le montant de 70 millions USD avancé par AVZ comme coût de réalisation de l’étude de faisabilité du projet Lithium de Manono (Avocat)

Maître Popol Muamba, l’avocat conseil de la société la congolaise d’exploitation minière (COMINIERE SA), a balayé d’un revers de la main ce qu’il a qualifié de contre-vérités de la société AVZ et ses avocats conseils. Il a fait cette déclaration, le samedi 30 juillet 2022, au cours d’une...

zoom-eco.net

“In a press release, bearing his signature, made available to the media, the consulting lawyer of COMINIERE SA clearly demonstrates that everything AVZ's lawyers had peddled about Manono's Tin and Lithium project was nothing but lies cut from scratch.”

As the statements in the article come directly from Cominiere SA’s consulting lawyer, surely Christian needs to respond again on behalf of AVZ so their lies don’t go unanswered in the public arena.

 

[Winenut]

What is this all about? Can anyone here share some light?

Speaking of AVZ'S CLAIM POSSESSION OF 75% OF SHARES IN DATHCOM MINING SA, COMINIERE SA gives the following clarifications:

- On June 15, 2022, Mr. NIGEL FERGUSON, Chairman of the Board of Directors of DATHCOM MINING SA, had notified the invitation to the written consultation of the Board of Directors to be held from June 15, 2022 to June 24, 2022 at 11:59 p.m. by email, which the said convocation had on the agenda:

1) Recognition of the transfer of 750 company shares between AVZ International and Green Lithium Holding,

2) The update of the register of registered securities concerning the transfer of 750 shares between AVZ International Pty and Green, Lithium Holding PTE Ltd, in response to this summons, by its correspondence referenced CM/DG/043/amm/2022 of 23 June 2022, COMINIERE SA, criticizing the irregularities of the envisaged approach, opposed the holding of the meeting of the board of directors thus convened, specifies the consulting lawyer of this company.

Ummm......AVZ and Green Lithium holding could hold each others dicks while they take a piss

What they may or may not have done between themselves has nothing to do with the issues around Cominiere and Dathcom

Well that's my understanding....happy to stand corrected

 

[Charbella]

Thanks Winenut! I am just thinking the timing is odd for this request and the purpose.

 

[Samus]

My opinion, it's a bit of a worry we've still got Cominière in a position to be accusing AVZ of lies and various other slander and seemingly in effect blocking the exploitation permit.
And this many months after the damning IGF report against them.
Lack of any action against these crooks makes one wonder how much political pressure there is to back the state company over AVZ with millions in kickbacks under threat to corrupt officials and politicians.

"The first lie is when the company AVZ confirms having paid the amount of USD 6,000,000 to the company COMINIERE SA, as a doorstep, even claiming to hold evidence, the company COMINIERE SA specifies to the opinion that the payment made by AVZ was rather a non-refundable signing bonus, as provided for by the provisions of the Joint Venture contract"

WTF??? LOL!
That's the lawyer saying this in public!

 

[Xerof]

AVZ holds a 75% interest in the Manono Project, located 500km north of Lubumbashi in the south of the Democratic Republic of Congo, hosting the world class Roche Dure Mineral Resource, one of the largest undeveloped hard rock lithium deposits in the world. 10% will remain with the DRC government as per the DRC Mining Code and the 15% balance, currently belonging to the DRC government, is subject to a purchase agreement from AVZ International but is yet to be finalised.

From the Qtly

 

[TDITD]

I don't really understand all this takeover bullshit, if you want something you need to fight for it. AVZ management have never hinted of anything other than owning a 'globally significant' mine producing for years into the future with diversification down the track. As shareholders we need not make it harder for them, standup against the pricks trying to steal from us.

Agreed Dazmac66 we need to stand up and fight not meekly beg for a TO

 

[cruiser51]

From Axinocapital:

07/29/2022

Trading suspension and agreement with Suzhou CATH Energy extended​

AVZ Minerals Ltd stock (ASX: AVZ, FSE: 3A2) has been suspended from trading for weeks and will remain so for the time being as the company has again applied to the Australian Stock Exchange for an extension of its trading suspension. At the same time, AVZ Minerals announced that the agreement in place with Suzhou CATH Energy Technologies to complete the acquisition of the Manono Lithium Tin Project is also extended.

Neither extension comes as a surprise, as no new information has emerged in the past two weeks that the ongoing dispute over ownership of Dathcom Mining SA has been resolved.

Against this background, it makes sense for AVZ Minerals to apply to the Australian Stock Exchange for an extension of the trading suspension. This was initially applied for by August 15 and it can be expected that the stock exchange will also comply with this request.

This is unsatisfactory for the invested shareholders, but probably the best solution given the current situation. It is also unsatisfactory that no news has been released about the further progress of the negotiations. But this is not surprising either, since AVZ Minerals is obliged to remain silent about the status of the negotiations during the ongoing arbitration proceedings before the International Chamber of Commerce in Paris.

Suzhou CATH Energy Technologies extends acquisition agreement with AVZ Minerals​

On the other hand, it is gratifying that the partner Suzhou CATH Energy Technologies is firmly at the side of AVZ Minerals. Although both partners are hampered by the legal dispute in the further development of the Manono project, Suzhou CATH knows the background to the dispute and also knows that it was not initiated by AVZ Minerals.

As such, Suzhou CATH has no reason to question its own contractual arrangements with AVZ Minerals. The fact that the timetable for the planned steps in the takeover has to be repeatedly postponed is annoying, but by far the lesser evil, so that the current agreements stipulate that the date for the completion of the intended work will be pushed back to the end of September 2022.

In view of the continuing muddled and for an outsider also quite confusing situation, the long-suffering AVZ Minerals shareholders have little choice but to be patient and hope that the dispute will be resolved later in the summer with a favorable solution for AVZ Minerals can be terminated.

 

[JAG]

Agreed Dazmac66 we need to stand up and fight not meekly beg for a TO

Zijin AVZ

 

[Sparrowhawk12]

From Axinocapital:

07/29/2022

Trading suspension and agreement with Suzhou CATH Energy extended​

AVZ Minerals Ltd stock (ASX: AVZ, FSE: 3A2) has been suspended from trading for weeks and will remain so for the time being as the company has again applied to the Australian Stock Exchange for an extension of its trading suspension. At the same time, AVZ Minerals announced that the agreement in place with Suzhou CATH Energy Technologies to complete the acquisition of the Manono Lithium Tin Project is also extended.

Neither extension comes as a surprise, as no new information has emerged in the past two weeks that the ongoing dispute over ownership of Dathcom Mining SA has been resolved.

Against this background, it makes sense for AVZ Minerals to apply to the Australian Stock Exchange for an extension of the trading suspension. This was initially applied for by August 15 and it can be expected that the stock exchange will also comply with this request.

This is unsatisfactory for the invested shareholders, but probably the best solution given the current situation. It is also unsatisfactory that no news has been released about the further progress of the negotiations. But this is not surprising either, since AVZ Minerals is obliged to remain silent about the status of the negotiations during the ongoing arbitration proceedings before the International Chamber of Commerce in Paris.

Suzhou CATH Energy Technologies extends acquisition agreement with AVZ Minerals​

On the other hand, it is gratifying that the partner Suzhou CATH Energy Technologies is firmly at the side of AVZ Minerals. Although both partners are hampered by the legal dispute in the further development of the Manono project, Suzhou CATH knows the background to the dispute and also knows that it was not initiated by AVZ Minerals.

As such, Suzhou CATH has no reason to question its own contractual arrangements with AVZ Minerals. The fact that the timetable for the planned steps in the takeover has to be repeatedly postponed is annoying, but by far the lesser evil, so that the current agreements stipulate that the date for the completion of the intended work will be pushed back to the end of September 2022.

In view of the continuing muddled and for an outsider also quite confusing situation, the long-suffering AVZ Minerals shareholders have little choice but to be patient and hope that the dispute will be resolved later in the summer with a favorable solution for AVZ Minerals can be terminated.

WTF "the planned steps in the takeover" - silly error from silly reporter? Or is there real smoke with CATH ??