AVZ Discussion 2022

[Mr Inappropriate]

Should AJN be successful in attaining the northern section of PR13359 ….then the conflict not only exposes Nige directly to law suit…but also AVZ directors and AVZ company. Why would Nige will fully put the company and directors in this position? Irrespective if AJN have merits or not in what they have publicly stated…..Nige position is conflicted whilst he holds a single share in AJN let alone a substantial 2,750,000 or 10% holding in AJN. Seems like a very selfish attitude that has little regard for AVZ shareholders imo.

I have no idea why the BOD could let such a conflict exist, let alone exposing themselves to such legal risk.

 

[Mr Inappropriate]

@Deboss
asking for a friend....

( Simply press a Fire emoji for this months news, or Haha for Dec news)


View attachment 22434

Oi - you stole my meme…

 

[Rediah]

Oi - you stole my meme…

I didn’t know

 

[Chilla]

I have no idea why the BOD could let such a conflict exist, and to expose themselves to such legal risk.

Yep…defies logic….but it’s a big risk they are taking supporting Nige in this conflict of interest. They can take it on notice that they have been advised the Conflict of Interest exists and has been notified as such. Now it’s up to the BoD to act or be subject to actions if AJN are successful in their application. Plenty of public info out there supporting a conflict of interest and I hope our BoD act in the interest of shareholders and sort this out asap.

 

[Remark]

Oi - you stole my meme…

Wait, have you guys been drinking again?

 

[oxxa23]

For the 33rd week straight I'm calling ML this week...

 

[CHB]

I believe Nigel would have taken legal advice regarding the conflict of interest

 

[DiscoDanNZ]

I believe Nigel would have taken legal advice regarding the conflict of interest

Absolutely he would have and I'm sure the lawyer told him legally there is no conflict but for me its about perception.

Regardless of what date he bought the shares and when he quit the BoD at AJN (I think the timing of that makes it look worse for him too) I/we perceive it as a conflict of interest. The fact that we are discussing it so much shows that it is having a negative effect on shareholder sentiment which makes it a conflict of interest to shareholders.

Would you put up with this from your local MP? I don't think so and at the moment Nigel needs to be more of a politician than a geologist/speccy gold investor in cahoots with that slimy fuck Klaus.

 

[tonster66]

Yep…defies logic….but it’s a big risk they are taking supporting Nige in this conflict of interest. They can take it on notice that they have been advised the Conflict of Interest exists and has been notified as such. Now it’s up to the BoD to act or be subject to actions if AJN are successful in their application. Plenty of public info out there supporting a conflict of interest and I hope our BoD act in the interest of shareholders and sort this out asap.

Directors insurance up from 90K to 500K, maybe the insurance company sees a conflict? Should we have an EGM to sort this out?

 

[Retrobyte]

The best part of that Tantalex article is that it mentions there was a brewery in Manono until 1998. Maybe AVZ can rehabilitate that after they get the hydro power station up and running again?

 

[Mr Inappropriate]

The best part of that Tantalex article is that it mentions there was a brewery in Manono until 1998. Maybe AVZ can rehabilitate that after they get the hydro power station up and running again?

I think I see where you’re going with this. The $2 party is at wino’s place, the $3 party at JAG’s, which leaves enough time for the brewery to be rehabilitated in advance of the $4 party right there in Manono. Am I reading you right?

 

[Doc]

Absolutely he would have and I'm sure the lawyer told him legally there is no conflict but for me its about perception.

Regardless of what date he bought the shares and when he quit the BoD at AJN (I think the timing of that makes it look worse for him too) I/we perceive it as a conflict of interest. The fact that we are discussing it so much shows that it is having a negative effect on shareholder sentiment which makes it a conflict of interest to shareholders.

Would you put up with this from your local MP? I don't think so and at the moment Nigel needs to be more of a politician than a geologist/speccy gold investor in cahoots with that slimy fuck Klaus.

I just don’t get it to be honest.
He on 500k a year at AVZ. Currently has 50m shares and seems 100% confident AVZ will get through current issues. So even being an absolute pessimist he would be thinking $1 a share is easily achievable with AVZ( but we all know it could be multiples of that ). So that’s easily 50-60m minimum of personal wealth yet he ok with creating this fracas for under $1m value of AJN shares?
Or maybe he not so sure on AVZ’ prospects….?
If AJN get the northern section and their SP rockets and then he sells I’ll be really pissed off, not like we can take some of our AVZ money and buy shares in other companies….

It’s like having the ex girlfriends number in your phone and telling your Mrs it means nothing….

 

[DiscoDanNZ]

I just don’t get it to be honest.
He on 500k a year at AVZ. Currently has 50m shares and seems 100% confident AVZ will get through current issues. So even being an absolute pessimist he would be thinking $1 a share is easily achievable with AVZ( but we all know it could be multiples of that ). So that’s easily 50-60m minimum of personal wealth yet he ok with creating this fracas for under $1m value of AJN shares?
Or maybe he not so sure on AVZ’ prospects….?
If AJN get the northern section and their SP rockets and then he sells I’ll be really pissed off, not like we can take some of our AVZ money and buy shares in other companies….

It’s like having the ex girlfriends number in your phone and telling your Mrs it means nothing….

That would definitely trigger a lawsuit... How can you say something isn't a conflict of interest if there is an entirely possible scenario that could eventuate like that?

Riddle me that Nigel

 

[Rediah]

All the sins of Jerusalem that NF is carrying on his shoulders will be washed away once he brings the ML. And for everyone's sake he gets it before the end of this suspension deadline.

If the Friday evening grins at AVZ's HQ are to be taken into account, we might be close this time...

 

[Mickyb64]

I just don’t get it to be honest.
He on 500k a year at AVZ. Currently has 50m shares and seems 100% confident AVZ will get through current issues. So even being an absolute pessimist he would be thinking $1 a share is easily achievable with AVZ( but we all know it could be multiples of that ). So that’s easily 50-60m minimum of personal wealth yet he ok with creating this fracas for under $1m value of AJN shares?
Or maybe he not so sure on AVZ’ prospects….?
If AJN get the northern section and their SP rockets and then he sells I’ll be really pissed off, not like we can take some of our AVZ money and buy shares in other companies….

It’s like having the ex girlfriends number in your phone and telling your Mrs it means nothing….

You're spot on with this Doc, to me it's a no brainer. He will make shit loads more with AVZ. There's obviously a reason why he thinks AJN is worth retaining while damaging his reputation and the prospects of AVZ. His attitude at the AGM towards this issue gave me genuine cause for concern.

 

[CHB]

Absolutely he would have and I'm sure the lawyer told him legally there is no conflict but for me its about perception.

Regardless of what date he bought the shares and when he quit the BoD at AJN (I think the timing of that makes it look worse for him too) I/we perceive it as a conflict of interest. The fact that we are discussing it so much shows that it is having a negative effect on shareholder sentiment which makes it a conflict of interest to shareholders.

Would you put up with this from your local MP? I don't think so and at the moment Nigel needs to be more of a politician than a geologist/speccy gold investor in cahoots with that slimy fuck Klaus.

Agree that its a perceived conflict.

It's been raised with him and he's given his answer. I've moved on. Everyone is free to keep talking about it of course but not sure it's fruitful.

I just want that bloody ML

 

[TDITD]

Seriously how old are you the rubbish you post is embarrassing

Hi Ashlee,

I don't know if you were unlucky enough to see my 'joke' posts about my balls being in a drawer and Nigel coming along every now and again just as they were looking like getting smashed and he saves them, giving them a nice shave and moisturising then he disappears but my balls are still in the drawer.

This was my juvenile attempt at humour within the metaphor for my experience over the years as a long-term AVZ investor.
Wombat was simply carrying on my metaphor.

 

[TDITD]

That was a piss-poor response from NF to that question at the AGM. He basically said that there was no conflict of interest because AJN used to be into gold, even though they are now in competition with us. WTF? Conflict of interest is the simplest of concepts, and arrangements to manage such conflicts exist within companies and governments across the globe.
For reference - AVZ Code of Conduct p2

”Potential for conflict of interest arises when it is likely that an Employee could be influenced, or it could be perceived that such Employee is influenced by a personal interest when carrying out their duties. Conflicts of interest that lead to biased decision making may constitute corrupt conduct.

It can be easily fixed.

bang on here, have you or anyone emailed this to BOD ?

I may do so next week as this is a point that like quite a few others it seems we are not satisfied with.

 

[wombat74]

I just don’t get it to be honest.
He on 500k a year at AVZ. Currently has 50m shares and seems 100% confident AVZ will get through current issues. So even being an absolute pessimist he would be thinking $1 a share is easily achievable with AVZ( but we all know it could be multiples of that ). So that’s easily 50-60m minimum of personal wealth yet he ok with creating this fracas for under $1m value of AJN shares?
Or maybe he not so sure on AVZ’ prospects….?
If AJN get the northern section and their SP rockets and then he sells I’ll be really pissed off, not like we can take some of our AVZ money and buy shares in other companies….

It’s like having the ex girlfriends number in your phone and telling your Mrs it means nothing….

"Or maybe he not so sure on AVZ’ prospects….?"

Nigel said we will be reviewing spending/costs in 3 months if things aren't going our way . Said he has not ordered parts/long lead items to build the mine .

I think that answers your question .

 

[Mr Inappropriate]

bang on here, have you or anyone emailed this to BOD ?

I may do so next week as this is a point that like quite a few others it seems we are not satisfied with.

I have not raised this with the BOD. I would think the matter would be best adressed to the Chairman.