Xerof
Have a Cigar 1975
Christmas Day, wishing them and their families a very merry christmas. What about you?
Would you take a screen shot if he replied? If so, for what purpose and for who? If not, why did you ask?
AVZ Discussion 2022
- Thread starter GazDix
- Start date
Would you take a screen shot if he replied? If so, for what purpose and for who? If not, why did you ask?
Xerof
Have a Cigar 1975
Why? Because it's my impression every question you ask infers you are seeking evidence of someone having insider information, thats why.
But that's just my suspicious nature
The last announcement says AVZ no longer needs to draw upon the Locke funding facility, as CATH has provided a Pre-Completion funding facility. Not sure that can be read any other way than that no drawdowns had taken place.
I don't know for sure, but as an educated guess, I would say the funds raised from Convertible Noteholders was possibly used to pay the fees, or simply out of the general pot. I think it's too early to say the CATH funds are available, and AVZ say as much - 'end of January for $10m'
I'm assuming the fees have been paid - I don't know that either, but I am relying on comments from credible others. In the end it's a minor detail as they have a few more weeks to pay anyway
Hope this helps in some small way
But that's just my suspicious nature
The last announcement says AVZ no longer needs to draw upon the Locke funding facility, as CATH has provided a Pre-Completion funding facility. Not sure that can be read any other way than that no drawdowns had taken place.
I don't know for sure, but as an educated guess, I would say the funds raised from Convertible Noteholders was possibly used to pay the fees, or simply out of the general pot. I think it's too early to say the CATH funds are available, and AVZ say as much - 'end of January for $10m'
I'm assuming the fees have been paid - I don't know that either, but I am relying on comments from credible others. In the end it's a minor detail as they have a few more weeks to pay anyway
Hope this helps in some small way
I would've thought if the fees had been paid already then this would be reflected on the ICSID tracker. It seems to have been pretty up-to-date to this point. Anyway I'm sure we'll find out from the company or another channel soon enough
The last ann says AVZ no longer needs to draw upon the LOCKE as CATh has provided a PRE COMPLETION FUNDING FACILITY .
Now what is a PRE
A pre-funding agreement is a contract between an agency and a recipient that outlines how funding will be provided and used.
""""The agreement may also include conditions that the recipient must meet.""""
So not as straight forward as others are saying...imo BECAUSE CATH has included conditions...!!!
Xerof
Have a Cigar 1975
PRE-COMPLETION you twat
Thats pre-completion of the JV and other arrangements etc etc - no strings attached, only the usual 'no material adverse change and standard conditions' etc - 10m unsecured
everything else relates to the JV
margarita time down the road for me - bye
This post was to correct the bullshit and misinformation contained in the post that was reported and taken down within 5 minutes, bye again
Thats pre-completion of the JV and other arrangements etc etc - no strings attached, only the usual 'no material adverse change and standard conditions' etc - 10m unsecured
everything else relates to the JV
margarita time down the road for me - bye
This post was to correct the bullshit and misinformation contained in the post that was reported and taken down within 5 minutes, bye again
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AVZ gonna last about 2 seconds after the ML is secured imo . Someone must have shown the thickheads in the DRC Gov the amount of $$$ they gonna get from the sale . Now they be on the down low working out what offshore bank accounts they can stuff a $$Billion $$ into . imo
I detect a slight undertone of jealousy that sandgropers have a slight advantage, the AGM is always in their backyard.
The Sandgropers can take the full benefit of free coffee with biccies.
And after have the ability to do some networking with the BOD, while having a tube of West Ozzie Ale, or a Margaret river Shiraz
At least John the winking Greek and Nelle the bridge streaker make the effort of sampling the beauty of Western Australia and exchanging jokes with the BOD.
On special request of Nelle, Perth has built a couple extra bridges across the Swan river, real beauties.
It can be now streaking without the need to dodge rubber necking West Aussies car drivers, the best rubber neckers in the country.
So Perth is well prepared for the landing of the ML.
Winenut
Go AVZ!
There is something written in the JV about selling/transferring, timing and FROR of shares in the Dathcom JV.
For the exact wording, I have to go through the entire document and translate again.
There is a certain timing before which shares in Dathcom could not be transferred.
Cominiere did a song and dance act, when AVZ made its intentions aware regarding funding the project, but AVZ stuck to the rules and never sold, or transferred anything.
All AVZ did, it made its JV partners aware of AVZ's intention. Which is all above board.
Even today's contract with CATH, there is no transfer of shares until the date of sale/tranfer point is reached.
The contract with CATH is merely an indication of intent, that a sale will go ahead at such time that the possible contractual date for the transfer of shares has been reached. Like an 'I'm gunna letter'.
The sale or transfer of any shares can not take place without those contractually obligations being met.
Over the last few years Cominiere believed, they were above the law and could do anything they liked, against their signed contractual obligations,
Even illegally cancelling the 13359 tenement, re-dividing the lease and giving the northern section away for a large paper cheque, which never made it into the coffers of the DRC state.
Funny thing Cami is now asking for 10% of this stolen lease, It is like a fucking soap opera.
And CKK is going to sell electricity from a power station, he doesn't own, or knows how to operate, CKK's speciality is fucking people over and licking rocks, not running power stations. Fucking idiot.
Maybe we should show the COMAPNY ANNOUNCEMENT and conditions...!"""""""DONT see no J V mentioned""""
Pre-Completion Funding Agreement
The Pre-Completion Funding Agreement is intended to fund certain expenditures of AVZ and also AVZ corporate costs and meet ongoing working capital requirements.
Pre-Completion Funding Agreement Committed Amount •
Up to US$20,000,000. Conditions to Drawdown • No material adverse change and no default or potential default has occurred and is continuing • Other customary conditions to drawdown for a facility of this nature
Availability Period •
The funds will be available to AVZ until the earlier of: - a Mining Licence is granted over the Manono Project and completion of the revised TIA; or - completion of scheduled drawdowns in December 2025 or in 2026.
Drawdown •
Drawdowns scheduled as US$10m by end of January 2025, plus two further US$5m drawdowns as and when required by AVZ’s budgeted requirements
Use of funds •
Funds received must be applied to pay AVZ’s costs in respect of efforts to secure the Manono Project and for AVZ corporate costs Interest rate • Funds advanced will attract interest at a rate of 9% per annum • Interest will be capitalised
Repayment •
Funds advanced plus interest will be repaid from proceeds of the Manono Project acquisition price payable by CATH on grant of the Mining Licence and completion of the revised TIA; or • Repayable in full on 31 December 2027.
Security
• The facility will be unsecured for the first US$10m drawdowns • CATH will require security is granted as a condition to the further US$10m utilisation which will also cover the first US$10m drawdowns
Joint strategy •
AVZ and CATH have agreed to work collaboratively to constructively engage with the DRC Government to secure and accelerate the development of the Manono Project.
• AVZ and CATH are committed to resolve the relevant issues in order to see the Manono Project through to production.
Frank
Top 20
Valuation sounds about right to me, anyone want to do math on what that works out to per share?
...or is not all just for AVZ?
Hodlandwin69
Regular
Only for 30.5% of the project indirectly
Congo looks to Saudi mining investors to curb China’s dominance
The Democratic Republic of Congo wants to diversify its mining industry and reduce reliance on Chinese investment
I just wonder how many people beside the Chinese are prepared to invest in the DRC, as long as the AVZ mess is not sorted in the DRC in an acceptable way by the DRC government.
Congo looks to Saudi mining investors to curb China’s dominance
The Democratic Republic of Congo wants to diversify its mining industry and reduce reliance on Chinese investmentafrica.businessinsider.com
Anyone expecting the Saudi mining investors will pump US$100 billion without proper DD and without having a real hard look at the AVZ case, is playing with their dick.
I am afraid that counts also for Felix and all his ministers.
If they elect not to clean up their complete fucked up house, they have buckleys and will slowly spiral down in Xi Ping's Gotcha Net.
However I am convinced that the DRC ruling clique believes all is ok and let's rock and roll.
The more money on the table the more can fall off.
Have a look at Felix's achievements.
All he has to show for is an arm full with expensive watches, a court case which could drop his country in the worst possible misery.
And jobs for the ruling tribe.
One could ask will, this clown ever be able to enjoy his super, strung up on the highest light mast in front of his Palace, or leave his palace horizontal feet first?
I think you missed the context of the post I was replying to
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