I would say DFS 2 will not be released until the dust has settled.
Why waive a red flag in front of a bull out of his senses?
You gotta be out of your brains.
Ever been in a paddock with a bull?
No need to aggravate one.
I would say by now, Zijin and Cominière have worked out roughly the real value, they think ....
That's why CKK thought he hit a once in a life time jackpot and tried his best, with the help of criminal Zijin.
Read this article:
2023 may 17
Manono Lithium: COMINIERE registers ZIJIN in the DATHCOM Trade Register despite AVZ's opposition
NEWSECONOMY
Manono Lithium: COMINIERE registers ZIJIN in the DATHCOM Trade Register despite AVZ's opposition
May 17, 2023
Kiki Kienge
By
Kiki Kienge
Also in its ZIJIN tax letter to COMINIERE (the Congolese mining company), the Chinese group recognizes during an Extraordinary General Meeting of DATHCOM partners on November 20, 2021, the opposition of the AVZ Minerals group the sale of COMINIERE's 15% stake in DATHCOM and the refusal to see ZIJIN as a partner in the joint venture:
“Given that AVZ International Pty Ltd, which is the majority shareholder in DATHCOM, contested all the resolutions adopted during the Extraordinary General Meeting of November 20, 2021 of DATHCOM, thus abusing its majority, consequently the coordinated Articles of Association of DATHCOM, as amended by the resolutions of the General Meeting of November 20, 2021, have not yet been signed to date.
Can we read in ZIJIN's letter.
Now don't forget at this stage Zijin or its subsidiary wasn't part of the JV and AVZ held 75% and Cominière held 25%!
Ignoring AVZ Minerals' right of veto, COMINIERE proceeded with the registration in the Trade and Personal Property Credit Register of DATHCOM and the registration at the Single Window for Business Creation in Lubumbashi of JIN CHENG, a subsidiary of the ZIJIN group. who had acquired the 15% of COMINIERE:
“Given that the minutes of the aforementioned Extraordinary General Meeting were notarized, filed at the Single Window for Business Creation in Lubumbashi on November 23, 2021, and its resolutions were registered in the Register of Commerce and Credit Mobilier RCCM of the company DATHCOM. ZIJIN letter .
The ZIJIN group confirms the payment of the sum of US$33,400,000 for the purchase of the 15% share of its subsidiary JIN CHENG from COMINIERE and considers the holding of the Extraordinary General Meeting held on November 20, 2021, as a legalization of its subsidiary as a partner of DATHCOM:
"Since COMINIERE and JIN CHENG entered into a share transfer agreement on September 10, 2021 (the "Transfer Agreement"), according to which COMINIERE transferred to JIN CHENG the 15% of shares it held in the share capital of the company DATHCOM MINING SA (abbreviated DATHCOM), in return for this transfer, a payment of the amount of 33,440,000.00 USD (Thirty-three million four hundred and forty thousand US dollars) was made by JIN.CHENG on behalf of COMINIERE (the sale of 15% of shares). »
“Given that the Extraordinary General Meeting of DATHCOM held on November 20, 2021 approved this transaction for the sale of 15% of shares, thus materializing the quality of JIN CHENG as one of the shareholders of DATHCOM. »
Who, or what approved this transaction?
I am pretty sure it wasn't AVZ, while holding 75% of the JV!
