Re the meeting today. A crowd of say about 100, and many people came from Interstate.
Earlier at the Herdsman Tavern Yianni went through the current situation as he sees it at the meeting before the AGM.
After the resolutions were completed and current details of the outstanding legal issues were outlined Nigel and John Clarke took questions. As I see it Nigel felt that getting the Locke funding allows AVZ to now start pushing harder to get issues resolved. The Locke funding also gives a foundation for getting additional capital.
A query was raised about selling the project or going to mining John Clarke felt that being prepared to mine needs to be a priority as it gives you greater flexibility depending on what shareholders want and what options are available.
The question was raised about AVZ current value. Nigel's response was that with a Mining license in place and depending on Lithium prices the project value varied between $2.5 billion and $7.5 billion.
John Clarke, Nigel and Graeme Johnston went to the Hersdman Tavern and spoke further to any shareholder present.
Overall feeling that the Directors projected was that the Locke funding was a catalyst to be more proactive. They are still optimistic about getting value back to shareholders.
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The question was raised about AVZ current value. Nigel's response was that with a Mining license in place and depending on Lithium prices the project value varied between $2.5 billion and $7.5 billion”
Nearly sounds like Nigel could be prepared to negotiate a deal at a price somewhere between the price when we went into suspension to around $2 a share.
That would be a lot less than an ICSID finding in our favour which could value our shares at: The value of the project as at the start date of production including increased processing capacity (4.5 Mtpa to 10 Mtpa), updated mineral resource (840MT of SC6), updated ore price forecasts (SC6, PLS, Tin), change in mine life and updated BFS.
Personally I hate every one of those corrupt cunts that have worked against us, including the DRC’s fat potato headed prick of a president. I’ve spent every day accumulating information on all of them since this started and I would love to see them all fucked up the arse, so I personally have been ready to put all my investment on the line and wait for the ICSID.
I know there’s a lot of shareholders who just want to cash out at reasonable price and I understand that and also understand that the BOD are probably sick of the DRC. On top of the fact that a lot of shareholders can’t make up their minds half the time, a case in point being all the shareholders that kicked up a stink at the thought of giving up CDL and now would be happy to lose it if they can get something for Roche Dure.
Just like some questioning the Locke deal and the sweeteners they are getting when a lot of shareholders we’re probably shitting themselves that we wouldn’t get it over the line and we’d go into VA.
The BOD has had to deal with all the corrupt wankers I mentioned in previous posts, that’s why I will back them but I’ll be fucked if I’m going to vote for a piss fart $2 offer after fighting the corruption for the last two and half years. Our shares are worth no less than $3 even at this stage.
mines.cd
