AVZ Discussion 2022

[MoneyBags1348]

Something you can add on the lying snake Celestin Kibeya to the Twitter campaign @Spikerama @JAG @TDITD
…. Why he didn’t attend the meeting on Dathcom’s PE and Cominiere’s grievances in Lubumbashi

@Sammael posted this last December

Sale of the mining assets of Cominière SA: Technical director Célestin Kibeya accused of complicity and usurpation of competence​

Congolese civil society organizations and platforms specializing in mining issues (Justicia Asbl, LICOCO, RND Asbl, POM, MDR, GANVE, CDH, ESPOIR ONG, RCEN, CERN/CENCO, TPRDC, MAX IMPACT), monitoring exploitation of natural resources in the Democratic Republic of Congo, accused, in a press release, the technical director Célestin Kibeya Kabemba of being no stranger to the selling off of the mining assets of the Congolese mining company (Cominière SA).

Worse still, the man exercises the functions of interim Director General without presidential order, nor decree of the ministry of supervision, that of the Portfolio, even less a report of the Board of directors.

"Already on October 26, 2022, when the interim Managing Director Mwamba Athanase was not yet in the hands of Congolese justice, the same Mr. Kibeya had co-signed as '' Managing Director ai '' on behalf of Cominière SA a press release press attributed to UNITED COMINIERE SAS with Eric Allard, a convicted person in Lubumbashi for forgery and use of forgery, and Michel Kitwa Nelkin. “, denounce these NGOs.

These structures draw the particular attention of the President of the Republic, Félix Félix Tshisekedi and the Prime Minister, Jean-Michel Sama Lukonde to these facts. "Mr. Célestin Kibeya is one of the key players in the sale of Cominière SA shares to Jin Cheng Mining Company Limited (a subsidiary of Zijin) and the undervaluation of the market value castigated by the General Inspectorate of Finance ( IGF) and for which Mr. Mwamba is the only one warned to date, while several elements demonstrate internal teamwork at Cominière SA. “, warn these civil society structures.

Bradage des actifs miniers de la Cominière SA : Le directeur technique Célestin Kibeya accusé de complicité et d’usurpation de compétence – Congo nouveau

congo-nouveau.info

 

[whales]

I don't think there is any chance that Zijin will walk away . They know it's not legit but they are the buyer not the seller . The FROR between Cominiere and AVZ/Dath being upheld has nothing to do with Zijin . MoP & DG of C made that call . Zijin going to want their money back when they lose unless they get all of Nth CDL . The DG of C must be having a few sleepless nights .

Does anybody know for certain if Zijin do in fact still hold the 15% or they have handed it back to Cominiere.
It appears it still does otherwise the ICC case would not be proceeding.
Company update on this would be appreciated .
If they still hold then Cominiere at present only hold 5% and cannot transfer the required 10% to government and fulfill mining licence requirement.

 

[wombat74]

Does anybody know for certain if Zijin do in fact still hold the 15% or they have handed it back to Cominiere.
It appears it still does otherwise the ICC case would not be proceeding.
Company update on this would be appreciated .
If they still hold then Cominiere at present only hold 5% and cannot transfer the required 10% to government and fulfill mining licence requirement.

That's why in his interview he said he wants to take control of the project . He's a Zijin puppet . He doesn't have the money to pay Zijin back if they lose the 15% and he doesn't have the 10% to cede to the DRC gov if they win . He's only got one choice and that's to try and take down AVZ .

 

[BEISHA]

" Pushing forward the project with AVZ and Cominiere on a round table to sort out issues and then work together positively "

Avz...........You stole from us fucker !....


Com........Yep, it was a nice snack too i might add..


Avz.........So how are we going to work this out ?


Com.......Fucked if i know, we are broke now and Zijin playing hard ball........


Avz........Fair enough.

ffs

 

[Roon]

That's why in his interview he said he wants to take control of the project . He's a Zijin puppet . He doesn't have the money to pay Zijin back if they lose the 15% and he doesn't have the 10% to cede to the DRC gov if they win . He's only got one choice and that's to try and take down AVZ .

This is bang on, IMO. They've backed themselves into a corner where, under pressure from their corrupt overlords, the only way they can perceive to avoid absolute ruin is in supporting and facilitating a Zijin win. You know what they say about cornered rats.

Perhaps AVZ need to consider provide Cominiere with another pathway forward

 

[Bonsoir]

That's why in his interview he said he wants to take control of the project . He's a Zijin puppet . He doesn't have the money to pay Zijin back if they lose the 15% and he doesn't have the 10% to cede to the DRC gov if they win . He's only got one choice and that's to try and take down AVZ .

They should throw his arse in prison for being a corrupt prick.

Then demand zijin cede the 15% back ( if they have it in the first place ) with no return of money paid then fine zijin 50 mil for being corrupt little kunts and get the fuck out of the country if you don’t like it.

 

[ptlas]

Q

This is bang on, IMO. They've backed themselves into a corner where, under pressure from their corrupt overlords, the only way they can perceive to avoid absolute ruin is in supporting and facilitating a Zijin win. You know what they say about cornered rats.

Perhaps AVZ need to consider provide Cominiere with another pathway forward

That's my take.
The exits are ever so slowly being blocked and the music is starting to play.

我希望你有一個漫長而緩慢的痛苦死亡。
在你支付十二美元之後。
婊子

 

[ptlas]

Translation not perfect. But you get the gist.

 

[whales]

This is bang on, IMO. They've backed themselves into a corner where, under pressure from their corrupt overlords, the only way they can perceive to avoid absolute ruin is in supporting and facilitating a Zijin win. You know what they say about cornered rats.

Perhaps AVZ need to consider provide Cominiere with another pathway forward

As Xerof highlighted the MMCS versus Cominiere takes on far more Importance.
Cominiere win then it has the 10%.

 

[wombat74]

An AVZ stalwart feeling it today .

Svetlana

@NikkyIntheWorld
I have come to the end of my road at this point I want to be realistic and not promise myself a just/fair outcome, when there may not be one for $AVZ.

A heavy statement considering her optimistic commentary over many months . That village meeting may have been one step too far .

 

[SilentOne]

They should throw his arse in prison for being a corrupt prick.

Then demand zijin cede the 15% back ( if they have it in the first place ) with no return of money paid then fine zijin 50 mil for being corrupt little kunts and get the fuck out of the country if you don’t like it.

I thought that Zijin never actually completed the illegal purchase/sale of the 15% and by default it is incomplete. This transaction should have no impact on the approval of the Minning license I would think. Once the Surface Rights have been calculated and paid for then the mining license can then be issued to Dathcom. The only other condition that I know of is that one entity needs to hold over 51% of Dathcom for the Mining License to be issued which AVZ has and the relevant Decree issued.

The issues with Comm..... & Zijin are with them - not AVZ (if the payment is not sitting with DRC Treasury for the 15% then again that does not sit with AVZ).

These are my thoughts.

Regards,

Silent

 

[BEISHA]

As Xerof highlighted the MMCS versus Cominiere takes on far more Importance.
Cominiere win then it has the 10%.

 

[Mickyb64]

Seriously, if AVZ and Cominiere haven't been sitting around a table then WTF has been going on?

 

[Roon]

I thought that Zijin never actually completed the illegal purchase/sale of the 15% and by default it is incomplete. This transaction should have no impact on the approval of the Minning license I would think. Once the Surface Rights have been calculated and paid for then the mining license can then be issued to Dathcom. The only other condition that I know of is that one entity needs to hold over 51% of Dathcom for the Mining License to be issued which AVZ has and the relevant Decree issued.

The issues with Comm..... & Zijin are with them - not AVZ (if the payment is not sitting with DRC Treasury for the 15% then again that does not sit with AVZ).

These are my thoughts.

Regards,

Silent

We need to get a new Mining Licence Decree first from the MoM before the surface rights over the entire 221 Squares can be calculated - and we aren't in the loop as to what exactly is holding that up.

 

[TheV]

Based on my understanding of Dathcom agreement is that no transfers are allowed to non Dathcom shareholders until the mining license is approved anyway. Therefore Zijin and CATH can only legally have their percentage once mining licence is granted. So Zijin technically do not hold anything of Dathcom (yet), they are going to ICC to force AVZ to accept the transaction but really it is not legal at first place anyway.

 

[CHB]

An AVZ stalwart feeling it today .

Svetlana
@NikkyIntheWorld
I have come to the end of my road at this point I want to be realistic and not promise myself a just/fair outcome, when there may not be one for $AVZ.

A heavy statement considering her optimistic commentary over many months . That village meeting may have been one step too far .

Brother prince didn't come through eh

 

[Thaz]

Based on my understanding of Dathcom agreement is that no transfers are allowed to non Dathcom shareholders until the mining license is approved anyway. Therefore Zijin and CATH can only legally have their percentage once mining licence is granted. So Zijin technically do not hold anything of Dathcom (yet), they are going to ICC to force AVZ to accept the transaction but really it is not legal at first place anyway.

Not saying i doubt this - but is there any source on this? (Extract from the agreement confirming this?)

As far as I'm aware - the main argument used by the BoD is that they were not offered the first Right of Refusal - Which is required under the agreement.

 

[Charbella]

An AVZ stalwart feeling it today .

Svetlana
@NikkyIntheWorld
I have come to the end of my road at this point I want to be realistic and not promise myself a just/fair outcome, when there may not be one for $AVZ.

A heavy statement considering her optimistic commentary over many months . That village meeting may have been one step too far .

What got to her? I don’t understand. Franck seems to be very happy with the meeting with job well done and expected outcome reached.

 

[Misfits]

 

[Samus]

I thought that Zijin never actually completed the illegal purchase/sale of the 15% and by default it is incomplete. This transaction should have no impact on the approval of the Minning license I would think. Once the Surface Rights have been calculated and paid for then the mining license can then be issued to Dathcom. The only other condition that I know of is that one entity needs to hold over 51% of Dathcom for the Mining License to be issued which AVZ has and the relevant Decree issued.

The issues with Comm..... & Zijin are with them - not AVZ (if the payment is not sitting with DRC Treasury for the 15% then again that does not sit with AVZ).

These are my thoughts.

Regards,

Silent

Trouble is you can't believe anything you read on social media coming out of the DRC nor even the media for the most part. The BOD aren't saying anything either so it's very difficult to establish the facts. Though it's been my understanding as well that Zijin only paid a down payment. These types of 'facts' become diluted over the months because of the disinformation and pretty soon nobody knows what's really going on.
Regarding the 51% it still isn't even clear if it's Dathcom as a whole that needs to hold at least 51% or if it's AVZ as a Dathcom shareholder. At least I've not been fully convinced either way but some time back sound reasoning and research by a few posters seemed to suggest that it's Dathcom that must hold 51% overall.