AVZ Discussion 2022

[The Fox]

Did I read that right where the drc gov now wants closer to 50/50 or to own the mine after 10 years?

If so FML.

Mate, that's one local Civil Group saying we would like ownership to be 50/50 etc. Nothing to do with Cami. Can't imagine many investments in resources taking place in the DRC on a 50/50 basis, it's just silly. Most developing countries work on 10% holding at the end of the day. Cheers The Fox

 

[Retrobyte]

Did I read that right where the drc gov now wants closer to 50/50 or to own the mine after 10 years?

If so FML.

Yep, circa $10bn per year for their share of ownership (plus royalties and taxes) isn't enough for the Govt, apparently.

 

[CHB]

Mate, that's one local Civil Group saying we would like ownership to be 50/50 etc. Nothing to do with Cami. Can't imagine many investments in resources taking place in the DRC on a 50/50 basis, it's just silly. Most developing countries work on 10% holding at the end of the day. Cheers The Fox

Just read again. Looks like from civil society.

Damn thought they were on our side, but at least they smart enough to want higher share. I think giving them part of AVZ is smart move long term and hopefully DRC gov isn't greedy.

 

[The Fox]

Yep, circa $10bn per year for their share of ownership (plus royalties and taxes) isn't enough for the Govt, apparently.

Interesting Cami making the right noises, calling the Civil Society irresponsible.....white smoke in a few days......a new Pope or an ML???

The CAMI, which is a structure of the Government, is only an instrument that has been used to correct the imperfections of the project, which went straight towards the disaster that the nation and future generations would not forgive us. We are moving towards a fair solution that will prevent us from repetitive revisions that an irresponsible civil society is demanding as in the situations of other projects on cobalt, gold, copper where the public authorities are accused of having sold sold the country's wealth!" At CAMI, white smoke is announced in the next few days. "The discussions are moving in the right direction," says the source.

 

[wombat74]

Mate, that's one local Civil Group saying we would like ownership to be 50/50 etc. Nothing to do with Cami. Can't imagine many investments in resources taking place in the DRC on a 50/50 basis, it's just silly. Most developing countries work on 10% holding at the end of the day. Cheers The Fox

Still confident with your original intel Fox ? The "all issues have been sorted " dude .

 

[CashKing]

Mate, that's one local Civil Group saying we would like ownership to be 50/50 etc. Nothing to do with Cami. Can't imagine many investments in resources taking place in the DRC on a 50/50 basis, it's just silly. Most developing countries work on 10% holding at the end of the day. Cheers The Fox

I Imagine Boatman and Tommy would have an erection reading that.

News : first to sell it ,first to say it, doesn’t matter if it’s true to those mugs… fucking journalists hey wtf….

 

[DoubleA]

Otherwise, it should be provided that after repayment of the capital with interest, repayment that commits the joint venture for which one party has contributed finance and technology and the other has contributed the "exhaustible" deposits, the shares should be revised to 50%/ 50% between foreign partners and the country.

Except it is not a 50/50 contribution, is it? One party has contributed hundreds of millions of $$$ and taken on all the risk in order to develop the mine. The other party has not personally contributed anything at all, there just happened to be a natural resource under the ground at their location. Frustrating to read that, but this comment was obviously just made by some moron at the meeting who has no clue how business works.

As Fox and others have said, it was one tool at the meeting from the civil society saying this. I wouldn't read too much into this stupid quote.

 

[Azzler]

Futanari, am I rite?

 

[DoubleA]

Interesting Cami making the right noises, calling the Civil Society irresponsible.....white smoke in a few days......a new Pope or an ML???

hmmmm

fumée blanche \fy.me blɑ̃ʃ\ féminin - (Christianisme) Fumée de couleur blanche qui marque la fin du conclave,

white smoke - (Christianity) Smoke of white color which marks the end of the conclave,

 

[Samus]

Except it is not a 50/50 contribution, is it? One party has contributed hundreds of millions of $$$ and taken on all the risk in order to develop the mine. The other party has not personally contributed anything at all, there just happened to be a natural resource under the ground at their location. Frustrating to read that, but this comment was obviously just made by some moron at the meeting who has no clue how business works.

As Fox and others have said, it was one tool at the meeting from the civil society saying this. I wouldn't read too much into this stupid quote.

It's quite aggravating really reading the endless badly written articles with everybody's uninformed opinions getting convoluted and mixed up along with lies and half truths for months on end. From NGO's to politicians to 'journalists' to the corrupted partners and other dodgy pricks with their own corrupted agendas and sense of entitlement to the hard work of others and to the detriment their own country. Chinese bs, boatcu#t etc.
Give us something with concrete clarity before we loose our fucking minds!
Overall more than anything I'm sick to death of reading about the partner Dathomir in everything coming out of the DRC, wtf is with that please??
Get fucked Dathomir motherfucker, piece of shit. That cong weasel fuck needs to be thrown in jail to be taken care of by Mr big with this crusty old klaus as his bitch.
Pardon my French.

 

[The Fox]

Still confident with your original intel Fox ? The "all issues have been sorted " dude .

Howdy Wombat, I'm sure I said "apparently" re my comments around everything being sorted. Of course something unexpected can happen after such advice is given, or intel provided, however so far so good I believe. My thinking is there should be a positive announcement on ML tomorrow or Friday. I'd be disappointed if it goes into next week, but hey, what can you do. Intel doesn't come in real time I'm afraid.

Cheers The Fox

 

[Frank]

Mate, that's one local Civil Group saying we would like ownership to be 50/50 etc. Nothing to do with Cami. Can't imagine many investments in resources taking place in the DRC on a 50/50 basis, it's just silly. Most developing countries work on 10% holding at the end of the day. Cheers The Fox

*Re-Most developing countries work on 10% holding at the end of the day

*Certainly seems that way Fox, as the Fortescue deal just up the road with the Gabon Government indicates,

Australia’s Fortescue Metals Group announced that its majority-owned joint venture, Ivindo Iron, has signed an exploration agreement with the Gabon Government for the Belinga iron ore project.

The agreement comprises key commercial and legal terms for the exploration of the Belinga project, allowing the grant of exploration licences to the JVfor a 4,500km² area.

Fortescue said the agreement also envisages a $90m exploration programme at the Belinga iron ore project, over a period of three years.

Fortescue Metals owns an 80% stake in Ivindo Iron while the remaining 20% is held by the Africa Transformation and Industrialisation Fund, an Africa-focused investment fund.

According to the Gabon Mining Code, the government will receive a 10% free carry interest in Ivindo Iron, upon the grant of the exploitation licences.

“We welcome the opportunity to assess the Belinga Project, which we believe is potentially one of the world’s largest undeveloped, high-grade hematite deposits.” ( Sound familiar )

Gabon Minister of Mines Elvis Ossindji said: “Holding a priority position in our country’s transformation and economy diversification strategy, this project has witnessed an acceleration in order to create added value and hundreds of jobs in our country.

“The culmination of the Belinga iron project with the Australian mining company Fortescue Metals Group and ATIF aims to strengthen the mining sector’s contribution to a thriving economy while making Gabon a benchmark mining destination.”

 

[The Fox]

*Re-Most developing countries work on 10% holding at the end of the day

*Certainly seems that way Fox, as the Fortescue deal just up the road with the Gabon Government indicates,

Australia’s Fortescue Metals Group announced that its majority-owned joint venture, Ivindo Iron, has signed an exploration agreement with the Gabon Government for the Belinga iron ore project.

The agreement comprises key commercial and legal terms for the exploration of the Belinga project, allowing the grant of exploration licences to the JVfor a 4,500km² area.

Fortescue said the agreement also envisages a $90m exploration programme at the Belinga iron ore project, over a period of three years.

Fortescue Metals owns an 80% stake in Ivindo Iron while the remaining 20% is held by the Africa Transformation and Industrialisation Fund, an Africa-focused investment fund.

According to the Gabon Mining Code, the government will receive a 10% free carry interest in Ivindo Iron, upon the grant of the exploitation licences.

“We welcome the opportunity to assess the Belinga Project, which we believe is potentially one of the world’s largest undeveloped, high-grade hematite deposits.” ( Sound familiar )

Gabon Minister of Mines Elvis Ossindji said: “Holding a priority position in our country’s transformation and economy diversification strategy, this project has witnessed an acceleration in order to create added value and hundreds of jobs in our country.

“The culmination of the Belinga iron project with the Australian mining company Fortescue Metals Group and ATIF aims to strengthen the mining sector’s contribution to a thriving economy while making Gabon a benchmark mining destination.”

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Thanks for all that Frank.

Apart from the 10% norm, there is of course all the social betterment undertakings Aussie and similar groups look to achieve in the local communities.

This can be more impactful for local committees than equity in a project as it ensures benefits go where they are needed rather than monies disappearing into the State somewhere.

Cheers The Fox

 

[Frank]

Except it is not a 50/50 contribution, is it? One party has contributed hundreds of millions of $$$ and taken on all the risk in order to develop the mine. The other party has not personally contributed anything at all, there just happened to be a natural resource under the ground at their location. Frustrating to read that, but this comment was obviously just made by some moron at the meeting who has no clue how business works.

As Fox and others have said, it was one tool at the meeting from the civil society saying this. I wouldn't read too much into this stupid quote.

I would have said, Mate, Would you prefer a corrupt Chinese Co running the show that would like to give you nothing and take everything, like other Mining projects in the DRC ( Promise the World, Give little in Return ) or an honest Aussie who is willing to give plenty in return

 

[Frank]

Thanks for all that Frank.

Apart from the 10% norm, there is of course all the social betterment undertakings Aussie and similar groups look to achieve in the local communities.

This can be more impactful for local committees than equity in a project as it ensures benefits go where they are needed rather than monies disappearing into the State somewhere.

Cheers The Fox

*Ditto, Or $$$$$ disappearing down the drain or wasted on someones Snacks

Some people in the DRC / Manono need to be reminded of what we hope to achieve moving forward, especially when it comes to investment in Hydro Electricity needs the country is screaming out for and the fact that AVZ has a plan to help them out in that regard,

 

[JasonM]

doesnt this sound just typical of the Chinese, hopefully word is getting out on their ways and africa will start to clean up these murderous crooks.

The deadly heist of millions in gold from an Australian mine

In the heat and dirt of northern Ghana, a Chinese company stands accused of a brazen heist that left dozens of locals dead.

www.theage.com.au

 

[wombat74]

Howdy Wombat, I'm sure I said "apparently" re my comments around everything being sorted. Of course something unexpected can happen after such advice is given, or intel provided, however so far so good I believe. My thinking is there should be a positive announcement on ML tomorrow or Friday. I'd be disappointed if it goes into next week, but hey, what can you do. Intel doesn't come in real time I'm afraid.

Cheers The Fox

Thanks mate .

 

[whales]

Thanks mate .

Very soon
Cheers

 

[JAG]

 

[JAG]