AVZ Discussion 2022

[MoneyBags1348]

Hey @obe wan, do you think the recently extended CATH TIA (of which the ‘expansion scenario’ is a ‘material term’) indicates that that our PE won’t be cut as some here have alluded to, or was it just for increasing output at RD

So much to keep up with…. talk of loosing CDL when we have drilled six holes there etc. Any thoughts on these in general?

 

[cruiser51]

The guy Is a self proclaimed alpha dog ; eventually there's only one way for disobedient, stubborn dog to be death with

Interesting question...

Which company did Vidiye Tshimanga think he was negotiating with.

 

[Frank]

*Fyi, For those New to Mining in the DRC and the Days of our Groundhog Lives

*To Remind

Chinese, Australian investors battle for largest lithium deposit​

Australia’s AVZ Minerals Ltd. is battling to retain control of what is potentially the world’s largest untapped lithium deposit amid ownership claims from Chinese investors, according to Boatman Capital.

AVZ’s interest in the Manono lithium project in the Democratic Republic of Congo could fall to 36% from 75%, London-based short-seller Boatman said in a research report on Friday.

That may follow its planned sale of a 24% stake this month and a flurry of lawsuits from companies, including Zijin Mining Group Co., claiming ownership, documents published by Boatman show.

“At best, AVZ faces months or years of legal fights” to block a claim by a Zijin subsidiary, Boatman said in the report.

“At worst, AVZ will lose control of Manono.”

AVZ said Friday it extended the voluntary suspension of the trading of its stock on the ASX until June 1, having halted selling and buying of its shares May 9 as it waits for the Congolese government to complete its permit approvals for Manono.

AVZ, with a market capitalization of about A$2.75 billion ($1.9 billion), had soared more than 400% over 12 months.

Congo is an important source of materials needed in the transition to clean energy.

It’s the world’s largest producer of cobalt and holds vast deposits of lithium, both key ingredients in electric-vehicle batteries.

Chinese companies have moved aggressively to secure supplies from the central African country, and now control about half of Congo’s cobalt output and approximately 70% of its copper production.

Read More: China built Congo a toll road that led straight to the ruling family

In China, the world’s biggest EV market, lithium prices have climbed more than 400% in the past year, stabilizing in recent months as stringent Covid restrictions weigh on manufacturing.

The Perth-based company said earlier this month it was “a matter of days” from securing its mining permit.

A week later, it announced that Zijin’s Jin Cheng Mining Company Ltd. had requested arbitration at the International Chamber of Commerce in Paris to claim a 15% share of the mining project that it says it acquired from state-owned miner Cominiere last year.

Boatman published a contract that showed Jin Cheng agreed to pay $33.4 million to Cominiere for the stake.

Zijin said in a May 9 statement that it had followed the law and complied with the joint venture agreement for the Manono project.

“Zijin Mining will actively protect its legitimate rights and interests, and continue to address future issues through litigation and arbitration,” it said.

AVZ and Zijin did not immediately respond to separate requests for comment on Friday.

‘Meritless agreement’​

AVZ said the agreement is “meritless” because it has the right to preempt any share sale by Cominiere, which currently holds 25% of the project.

The company says it is in “advanced discussions” with the government to acquire the 15% itself.

Congo’s Mines Minister Antoinette N’Samba Kalambayi and Cominiere’s Managing Director Athanase Mwamba Misao didn’t immediately respond to separate messages requesting comment Friday.

AVZ is already set to sell a 24% stake in the project to Chinese battery maker Suzhou CATH Energy Technologies at the end of this month for a $240 million investment.

That’s about five times the value per share in the Cominiere-Jin Cheng agreement.

The dispute with Zijin isn’t AVZ’s only shareholder battle over the ownership of the lithium deposits.

Last year, the company said it paid Dathomir Mining Resources Sarl $20 million for a 15% stake in the project, bringing its total shareholding to 75%.

Now the company, owned by longtime Chinese investor in Congo, Cong Maohuai, has sued in Congo to annul the deal.

AVZ’s subsidiary is appealing.

Cong did not immediately respond to an email requesting comment Friday.

The project is planned to develop the first lithium mine in Congo.

Cong’s company, Societe de Gestion Routiere du Congo, is managing the rehabilitation of a 290 mile-long export route from Manono at a cost of about $285 million, according to AVZ.

mining.com

*He looks worried, understandable atm, So Close, Yet so Far and still just out of reach for our Nigel

*To Remind,

Food for thought on the Long and Winding Road to Manono

 

[Remark]

 

[Samus]

*Fyi, For those New to Mining in the DRC and the Days of our Groundhog Lives

*To Remind

Chinese, Australian investors battle for largest lithium deposit​

Australia’s AVZ Minerals Ltd. is battling to retain control of what is potentially the world’s largest untapped lithium deposit amid ownership claims from Chinese investors, according to Boatman Capital.

AVZ’s interest in the Manono lithium project in the Democratic Republic of Congo could fall to 36% from 75%, London-based short-seller Boatman said in a research report on Friday.

That may follow its planned sale of a 24% stake this month and a flurry of lawsuits from companies, including Zijin Mining Group Co., claiming ownership, documents published by Boatman show.

“At best, AVZ faces months or years of legal fights” to block a claim by a Zijin subsidiary, Boatman said in the report.

“At worst, AVZ will lose control of Manono.”

AVZ said Friday it extended the voluntary suspension of the trading of its stock on the ASX until June 1, having halted selling and buying of its shares May 9 as it waits for the Congolese government to complete its permit approvals for Manono.

View attachment 17942

AVZ, with a market capitalization of about A$2.75 billion ($1.9 billion), had soared more than 400% over 12 months.

Congo is an important source of materials needed in the transition to clean energy.

It’s the world’s largest producer of cobalt and holds vast deposits of lithium, both key ingredients in electric-vehicle batteries.

Chinese companies have moved aggressively to secure supplies from the central African country, and now control about half of Congo’s cobalt output and approximately 70% of its copper production.

Read More: China built Congo a toll road that led straight to the ruling family

In China, the world’s biggest EV market, lithium prices have climbed more than 400% in the past year, stabilizing in recent months as stringent Covid restrictions weigh on manufacturing.

The Perth-based company said earlier this month it was “a matter of days” from securing its mining permit.

A week later, it announced that Zijin’s Jin Cheng Mining Company Ltd. had requested arbitration at the International Chamber of Commerce in Paris to claim a 15% share of the mining project that it says it acquired from state-owned miner Cominiere last year.


View attachment 17953

Boatman published a contract that showed Jin Cheng agreed to pay $33.4 million to Cominiere for the stake.

Zijin said in a May 9 statement that it had followed the law and complied with the joint venture agreement for the Manono project.

“Zijin Mining will actively protect its legitimate rights and interests, and continue to address future issues through litigation and arbitration,” it said.

AVZ and Zijin did not immediately respond to separate requests for comment on Friday.

‘Meritless agreement’​

AVZ said the agreement is “meritless” because it has the right to preempt any share sale by Cominiere, which currently holds 25% of the project.

The company says it is in “advanced discussions” with the government to acquire the 15% itself.

Congo’s Mines Minister Antoinette N’Samba Kalambayi and Cominiere’s Managing Director Athanase Mwamba Misao didn’t immediately respond to separate messages requesting comment Friday.

AVZ is already set to sell a 24% stake in the project to Chinese battery maker Suzhou CATH Energy Technologies at the end of this month for a $240 million investment.

That’s about five times the value per share in the Cominiere-Jin Cheng agreement.

The dispute with Zijin isn’t AVZ’s only shareholder battle over the ownership of the lithium deposits.

Last year, the company said it paid Dathomir Mining Resources Sarl $20 million for a 15% stake in the project, bringing its total shareholding to 75%.

Now the company, owned by longtime Chinese investor in Congo, Cong Maohuai, has sued in Congo to annul the deal.


View attachment 17952

AVZ’s subsidiary is appealing.

Cong did not immediately respond to an email requesting comment Friday.

The project is planned to develop the first lithium mine in Congo.

Cong’s company, Societe de Gestion Routiere du Congo, is managing the rehabilitation of a 290 mile-long export route from Manono at a cost of about $285 million, according to AVZ.


View attachment 17954

mining.com

*He looks worried, understandable atm, So Close, Yet so Far and still just out of reach for our Nigel

View attachment 17949

*To Remind,

View attachment 17943

View attachment 17950


View attachment 17948

Food for thought on the Long and Winding Road to Manono

View attachment 17955

17th May 2021

AVZ Minerals Limited (ASX: AVZ, “the Company” or “AVZ”) is pleased to announce all of the required documentation to support its application for the Permis d’Exploitation (or Mining Licence) in respect to the Manono Lithium and Tin Project (“Manono Project”) has been lodged and accepted for consideration by the Cadastre Minier in Kinshasa.

The documentation and formal application – which were submitted by AVZ’s majority-owned DRC company, Dathcom Mining SA, will now be assessed by the DRC Government prior to approval of the granting of the Mining Licence for the Manono Project as soon as practicably possible.

AVZ’s Managing Director, Mr Nigel Ferguson, said: “Lodging our formal application for a Mining Licence for the Manono Project is yet another significant milestone for the Company.

“It marks the culmination of our highly strategic and well executed exploration programme and is another signal that the Company is rapidly advancing towards the construction phase of our mining project and, ultimately, moving into production.”

“We expect granting of the Mining Licence for the Manono Project to be expedited by the DRC Government so that we can maintain our construction schedule to deliver the first SC6 on train by Q1 2023.”

“A Mining Licence will also allow the Company to quickly progress the Manono Project to a ‘bankable’ study level, set as a condition precedent and as required by prospective financiers of the Manono Project.”

Nearly 17 months since expidited


4th May 2022

DRC Minister of Mines has signed the ministerial decree to award the Mining Licence for the Manono Lithium and Tin Project to Dathcom Mining SA (Dathcom)

DRC Mining Code requires the Cadastre Minier (CAMI), operating under the supervision of the Minister of Mines, to calculate the surface rights fee and officially award the Mining Licence following the receipt of payment

AVZ’s Managing Director, Mr. Nigel Ferguson, said:
“The receipt of the Ministerial Decree to award the Mining Licence is leading to a watershed moment for AVZ and our partners, with the official award of the Mining Licence from CAMI expected in a matter of days."

5 months ago FFS



Heard somewhere Nigel is back in DRC.
he's got a big pineapple for Jean Felix Mupande.

 

[Winenut]

Just going back to my previous thoughts on CAMI splitting off CDL north, in light of what @Winenut dug up from the DRC mining code with regard to relinquishing 50% of unconverted exploration (PR) permits, it feels as though we're destined to lose at least some of CDL aren't we?

If we can't satisfy Dept of Mines that we're going to mine the lease, we lose 50%, which is what we've seen with the two wholly-owned tenements (as per the note in the Full Year Stat Accounts).

I wonder if this was short sighted play by Nigel...

I didn't say we had relinquished 50% of the tenements. Others picked up some possible mining code issues.

I noted there seemed to be some possible changes in the size/boundaries but didn't know why or what or how much

I don't actually know what's going on at CAMI with regard to the tenements (unfortunately) and whether it's legal, approproriate, within the DRC mining guidelines or not

I certainly don't know if CDL under tenement 13359 is now not included but am concerned it may be at risk

And I've never cast an opinion as to whether Nigel (or anyone at AVZ) has played this well or otherwise

 

[Tursty]

“A Mining Licence will also allow the Company to quickly progress the Manono Project to a ‘bankable’ study level, set as a condition precedent and as required by prospective financiers of the Manono Project.”

Does anyone know what progressing the study to a 'bankable' level means? Could this possibly be why there is extra drilling going on? Or does the confirmed Finance pre-requisite all but button this up?

 

[Doc]

Does anyone know what progressing the study to a 'bankable' level means? Could this possibly be why there is extra drilling going on? Or does the confirmed Finance pre-requisite all but button this up?

From what I understand it’s a more thorough DFS including up to date figures.
Nigel’s had a completed BFS on his desk for over a year now so drilling has nada to do with it.

 

[obe wan]

All going down in Kansasha it appears ; Tantalex up in court tomorrow

 

[Charbella]

 

[Misfits]

 

[MoneyBags1348]

Thanks for clearing that up @Charbella and Solo

 

[DiscoDanNZ]

Is the Dow pre-market a couple of % in the green or am I still asleep and dreaming?

 

[Xerof]

There is a time during the evening when both the DOW and Futures close. So, this reflects the previous days trading in US. The futures have just re-opened and are down about 30 pips atm

conclusion: you're asleep

 

[DiscoDanNZ]

There is a time during the evening when both the DOW and Futures close. So, this reflects the previous days trading in US. The futures have just re-opened and are down about 30 pips atm

conclusion: you're asleep

It looks like I am, and CNN is living in the passed as no amount of refreshing changes this:

EDIT: Must have been a glitch in the matrix as it's started updating

 

[Xerof]

Dow closed, futures open. This is via Investing.com, a very useful site

 

[DiscoDanNZ]

View attachment 17963

Dow closed, futures open. This is via Investing.com, a very useful site

That's much better than the CNN page, cheers.

 

[Xerof]

Dan, the only thing I can't find on that website is the AVZ ML

 

[LOCKY82]

Is there confirmation/back story of JFMK twitter page being fake?

 

[TDITD]

Is there confirmation/back story of JFMK twitter page being fake?

Personally hoping for it to come out that its DG of Cominiere, Anthanase who likes to be called DG, this clown is already in deep shit with IGF and it would be hilarious if he is caught impersonating DG of CAMI. We know he is corrupt as fck an loves a good under-priced sell off of DRC property for a hit of diabetes, this would be a comedic cherry on top.