AVZ Discussion 2022

[staz]

I'm of the impression that Kobold went in with the fixed idea of they were only going to spend so much money in the DRC.
They completely underestimated what the value of minerals in the DRC are worth.
Surprising considering the deep pockets and names behind that company.
Just hope Nigel sent them away and told them to do buy more napkins and do those sums again.

 

[wombat74]

If that’s the case, why did AVZ bother signing the MOU and pausing the ICDIS process?
What a waste of 6 months!

That would have been a great question to ask Nigel at the AGM .

 

[Spikerama]

That would have been a great question to ask Nigel at the AGM .

I reckon a better question would be, How does the BOD know the second 3 month suspension of ICSID will be sufficient to reach a negotiated settlement and if it isn't then will the BOD be inclined or likely to kick the can further down the road if another 3 month suspension is requested after FEB 27.

Suffice to say, when will it be a, 'No! That's it guys, you're done. On with the show.'

Obviously I wasn't there so not able to raise this thought but of course a massive thank you to all those who were and who have shared their notes and perspective. Very much appreciated.

 

[Flight996]

I recall reading somewhere something along the lines Kobold was offering a figure that would recoup AVZ's costs (exploration etc ) plus a little gravy on the side . Kobold are a bunch of grubs . IMO

But, as we are reminded ad-nauseum almost daily, KoBold is backed by billionaires Jeff Bezos and Bill Gates...like it implies some sort of business credibility. Fuck off KoBold, and come back when you've grown some pubic hair.

 

[cruiser51]

But, as we are reminded ad-nauseum almost daily, KoBold is backed by billionaires Jeff Bezos and Bill Gates...like it implies some sort of business credibility. Fuck off KoBold, and come back when you've grown some pubic hair.

Jeff Bezos is bald as a bowling ball, highly likely lacks pubic hair as well and the story goes Bill gates frequented Epstein's island.

 

[Investortug]

I reckon a better question would be, How does the BOD know the second 3 month suspension of ICSID will be sufficient to reach a negotiated settlement and if it isn't then will the BOD be inclined or likely to kick the can further down the road if another 3 month suspension is requested after FEB 27.

Suffice to say, when will it be a, 'No! That's it guys, you're done. On with the show.'

Obviously I wasn't there so not able to raise this thought but of course a massive thank you to all those who were and who have shared their notes and perspective. Very much appreciated.

From what I took away from the meeting was that Nigel has indicated this extension is a time constraint for any US owned party to come to the table with an appropriate offer, he said the US bring stability to the country as well as opportunity for future investment. Reading between the lines, they need to make a fair offer by end of this extension or we look elsewhere to close this out because in his words “I can’t do this for another 3 years”

 

[Spikerama]

From what I took away from the meeting was that Nigel has indicated this extension is a time constraint for any US owned party to come to the table with an appropriate offer, he said the US bring stability to the country as well as opportunity for future investment. Reading between the lines, they need to make a fair offer by end of this extension or we look elsewhere to close this out because in his words “I can’t do this for another 3 years”

So basically no more ICSID.

 

[Sangster]

If that’s the case, why did AVZ bother signing the MOU and pausing the ICDIS process?
What a waste of 6 months!

My understanding is the initial pause was at the request of the Americans to help create an atmosphere more suitable to achieving the peace agreement and minerals for security deal.

Company announcements at the start of the suspension suggested AVZ expected Cominiere to negotiate during this time and afterward indicated that Cominiere had not engaged with us but that the company remained open to respectful communication that acknowledged our rights.

Afterwards there was a DRC commentator angrily ranting on YouTube with an account of a supposed meeting in Washington.

(The following is my take on AI captions from a French language video by this commentator.)

The meeting was between DRC representatives (I'm assuming Cominiere), AVZ, KoBold, US State Dept, and moderated by Marco Rubio. The commentator was angry at the DRC government because Cominiere had opened stating that if KoBold wanted Manono they had to deal only with Cominiere because AVZ had no rights to the project.

The commentator went on to say that KoBold was clear with Cominiere that they intended to buy AVZ's interests in the project. AVZ then chipped in leading to an escalated exchange with Cominiere which was broken up by Marco Rubio stating to Cominiere their behaviour was not acceptable. KoBold excused themselves and the meeting ended without progress.

(Now getting back to your question. This is my understanding based on observation and may not be correct.)

AVZ signed the MOU based on the possibility we may at some point reach an acceptable agreement with KoBold on fair value.

I suspect the Americans requested the pause for diplomatic reasons and in exchange they set up a meeting between AVZ, Cominiere, and KoBold. AVZ agreed to pause ICSID proceedings hoping to make progress towards a favourable resolution. Cominiere agreed to the pause because it's in their favour to delay it, but they never intended to negotiate a resolution with AVZ.

ICSID rules require that a revised schedule be proposed when requesting a pause to the proceedings. The pause only delayed things for its duration. Proceedings have continued thereafter and we only lost a month or two on a genuine opportunity to negotiate a settlement.

It may have failed but our BOD made the right decision in our best interests.

 

[Sangster]

So basically no more ICSID.

Perhaps but not Not necessarily. ICSID vs DRC must be near its conclusion. AVZ paused it twice now for the sake of a possible resolution with the Americans.

The BOD are undoubtedly tired of this saga but not doing this for another 3 years can also mean concluding ICSID with an award for damages if there are no acceptable offers during this final pause.

Although I suspect you may be correct and we will sell to the highest bidder, American or not.