AVZ Discussion 2022

[Charbella]

Constantin Garlas on Twitter has given a decent quick synopsis of the video.



Again I can't understand how AVZ's lawyer can talk about these topics in depth on publicly available videos but we get nothing in English from the company. I speak a bit of French so will watch it now and report what I can but having someone fluent translate it will be better.

Luckily there are a few native French speakers in and around these forums that can help us out but we really shouldn't have to rely on them imo. Saying that I'd rather have the information available in French than not have it at all.

To be fair to management we got exactly what our lawyer covered in this interview from the company back in May. We choose not to listen.

 

[MoneyBags1348]

Moneybags 4 sure that motha fucker does bigger shits than most of our holdings apparently ..


GLTAH including you M ‘s

 

[mouseflying]

To be fair to management we got exactly what our lawyer covered in this interview from the company back in May. We choose not to listen.

according to auto translate, at about 35:00, it mentioned Félix Antoine Tshisekedi is pay attention to the case, and minister of portfolio will host a meeting to discuss and finalise the case?

hope some native french speaker here can help to clarify

 

[Winenut]

Just curious, who of us is/has been deemed a 'sophisticated' investor?

Why the question?

 

[TDITD]

Just curious, who of us is/has been deemed a 'sophisticated' investor?

If we are not already the grand majority will be by the time AVZ is mining and handing out handsome dividends

 

[Deleted member 1612]

If you meet these two criteria you can get a certified accountant to annoint you -

• a gross income of $250,000 or more per year in each of the previous two years, or
• net assets of at least $2.5 million

And therefore that’s what he’s really asking. Bit bloody personal isn’t it? Maybe I’d feel differently if I actually met the parameters obviously not sophisticated enough!!

 

[TheCount]

Constantin Garlas on Twitter has given a decent quick synopsis of the video.



Again I can't understand how AVZ's lawyer can talk about these topics in depth on publicly available videos but we get nothing in English from the company. I speak a bit of French so will watch it now and report what I can but having someone fluent translate it will be better.

Luckily there are a few native French speakers in and around these forums that can help us out but we really shouldn't have to rely on them imo. Saying that I'd rather have the information available in French than not have it at all.

FFS - why is there still commentary about the company issuing information?????????

Pull your head in and understand one simple fact.

Since the shitstorm commenced has the BOD said one thing?

NO!!!

We are winning the war - as each days passes we have more and more good news stories..

Why would the BOD say 'anything' that might get in the way???

STFU about company information once and for fucking all.....

TC.

 

[Winenut]

And therefore that’s what he’s really asking. Bit bloody personal isn’t it? Maybe I’d feel differently if I actually met the parameters obviously not sophisticated enough!!

There's some out there that think the test is redundant

Particularly the net assets test

I understand that test includes the family home so with property prices increasing (especially last decade) many people are meeting the criteria almost by default

Some argue that some sort of "financial literacy" test could be a better option

Bottom line if you do currently qualify you can have access to opportunities that are not available to all

The double edge to the sword is that because you're a "sophisticated investor" promoters or providers of investment opportunities are not required to furnish you with the same amount of financial protections in terms of providing product disclosure documents amongst other things

 

[wombat74]

What's going on with the Cong / Dathomir case ? No answer yet . Simple open and shut case .

 

[Winenut]

FFS - why is there still commentary about the company issuing information?????????

Pull your head in and understand one simple fact.

Since the shitstorm commenced has the BOD said one thing?

NO!!!

We are winning the war - as each days passes we have more and more good news stories..

Why would the BOD say 'anything' that might get in the way???

STFU about company information once and for fucking all.....

TC.

Got a late 80's hit there for you Count

 

[MoneyBags1348]

Got a late 80's hit there for you Count

A 1980 classic for the Novocastrians amongst us, and of course for @TheCount who appreciates the Novocastrians amongst us

 

[CHB]

Come on let's get cracking building this mine.

Missing such valuable time.

 

[Xerof]

Thanks @Carlos Danger

Towards the end, and it might have been the interviewer who mentions it - there was talk of 'renegotiation' of the contracts.

Are you able to translate that in any more detail?

Doesn't sound like it's all sorted to me, but happy to be convinced by those who say it is

 

[cruiser51]

To be fair to management we got exactly what our lawyer covered in this interview from the company back in May. We choose not to listen.

It is pretty obvious certain people do not read AVZ's ASX announcements and come on here stating AVZ does not inform the market properly.

The French would call this a typical case of 'oeuf sur ton visage', and we will not mention names.

 

[TheCount]

Got a late 80's hit there for you Count

Back in the office today - no time for dickheads flogging that narrative...

TC.

PS - everyone is in the "Danger Zone". Kenny Loggins, 1986.

 

[Remark]

Back in the office today - no time for dickheads flogging that narrative...

TC.

PS - everyone is in the "Danger Zone". Kenny Loggins, 1986.

How's the eye going TC?

 

[TheCount]

I have also said repeatedly that I would accept management saying they can't say anything more because of legal advice. The fact they have talked about things eg Zijin arbitration possibly having 1 or 3 judges but not provided further updates well past the four weeks they outlined is what bothers me.

You're entitled to your opinion but I will say whatever I want.

And I am entitled to select you as the worthy recipient of my first Ignored member. You are special. No one else can lay claim to that.

TC.

 

[cruiser51]

Back in the office today - no time for dickheads flogging that narrative...

TC.

PS - everyone is in the "Danger Zone". Kenny Loggins, 1986.

 

[Carlos Danger]

Thanks @Carlos Danger

Towards the end, and it might have been the interviewer who mentions it - there was talk of 'renegotiation' of the contracts.

Are you able to translate that in any more detail?

Doesn't sound like it's all sorted to me, but happy to be convinced by those who say it is

The interviewer at the end talks about him interviewing the companies again after everything has been worked out between them as well as interviewing the Minister of Portfolio at the end of the file. I don't think this equals a renegotiation of contracts and was just his way of explaining the next steps to the audience.

 

[LOCKY82]

Interview starts with the presenter Mills Tshibangu explaining this is a right of response to earlier interview with Cominiere. It is an ethical obligation to provide both sides an opportunity to talk.

Most of the initial part of AVZ's lawyer Christian Lukusa's introduction is the same as the press conference in July outlining the beginning of the joint venture and the obligations of AVZ.

A point of contention is the delivering of the DFS to Cominiere via email which he says is allowed. It is a question of communication rather than obligation and he points out that it was also published publicly.

He defends the timing between the DFS and the mining application. No objection was received from Cominiere for 9 months regarding key points eg rate of return for the project.

Dathcom had to apply at least 6 months before the research permit expired in December 2021 which is why it was submitted in May 2021.

He talks about reasons that contract between Cominiere and Zijin is null and void:
- Says minister of portfolio didn't go to the council of ministers which is the tradition.
- The statutory mechanism for rights of preemption say a written offer must be submitted to BOD of Dathcom which Zijin didn't do. This is a negotiation mechanism to allow comparison to AVZ's offer.
- AVZ's offer was valued at $166m USD including 8% of AVZ shares. AVZ had submitted proof that this could be paid. Document shown is dated 21/9/21.
- Offer also included local processing of lithium in partnership with the government focusing on lithium hydroxide. Therefore added value and local jobs are also part of the offer.
- Also in the offer is the rehabilitation of Manono airport, the power plant (will also be used to power the city), railway and roads.
- Says this is an integrated project which meets the vision of President Tshisekedi.
- The transfer of shares isn't between Cominiere and Zijin. In the transfer contract (which is shown) it is between Cominiere and Zijin's subsidiary Jin Cheng. Allegedly this is not allowed in the mining code without approval from the government which wasn't received.
- Says even worse in the notary deed it is not the CEO signing the documents which is required.

To summarise he says that it was not done at the correct level and the transmission of shares is not correct. So Dathcom shares are intact as before because it was not a valid transaction.

He now talks about Dathomir
- He says Dathomir want to be paid more which could be understandable if there was new information. But the DFS was already available when the deal was done.

He mentions AVZ being the only mining company on the battery council which was a government decision.

Talks about AVZ having proven funding of 500m USD to develop the project.

Uses Glencore as an example of AVZ's plans to mature from a junior miner into a major miner. Says this is for those worried AVZ will just sell.

Says AVZ only ask that the mining code be followed as they have complied with the law. This is important in promoting a good business environment in the DRC.

Mentions that there are other international investors watching that will be worried to invest if they could potentially face the same conflicts as AVZ.

Says rules must be respected. The country was built under these rules and it is the vision of President Tshisekedi that the DRC is a state of law which respects rules and gives opportunities.

Talks about AVZ losing 1m USD per day in profits that could be making which is 300k USD in taxes for the state.

He says AVZ could have sold because of the problems it has faced but is still humbly asking the government for the opportunity that we have already proven. AVZ is the first speculator in DRC to not sell and approach the government to present a feasibility study.

End of interview and it now goes back to the presenter that says President Tshisekedi is personally following the file.

There were a lot of good documents shown sporadically throughout the interview.

Much appreciated Carlos!!