AVZ Discussion 2022
- Thread starter GazDix
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Samus
Top 20
Not really, these issues have popped up at least twice over the past 12 months or more. Everyone ate it up when someone claimed that Nigel said 'it's rubbish' and anybody questioning it got squashed in classic HC style.
Der Geist just pressed the issue to the point where management had to address it imo that and the fact the claims were buried in zijins annual report as well as on the news originally only on the Chinese version of their website.
It's all very convenient the timing of how it's all played out followed by this boatman report.
Samus
Top 20
So AVZ have a mole now
And Sammy was getting bored
GLTAH
Not really, these issues have popped up at least twice over the past 12 months or more. Everyone ate it up when someone claimed that Nigel said 'it's rubbish' and anybody questioning it got squashed in classic HC style.
Der Geist just pressed the issue to the point where management had to address it imo that and the fact the claims were buried in zijins annual report as well as on the news originally only on the Chinese version of their website.
It's all very convenient the timing of how it's all played out followed by this boatman report.
I think he knew more about it though didn't he? especially with the legal going ons that occurred late last year
Samus
Top 20
JAG
Top 20
Hemicuda
Regular
He’s quoting Geist
Yep.. predicted this.. and also predicted ownership issues (happening in the background).....
And did you highlight this to the group or held those cards close to the chest?
lol not me - i did not predict any of that.
I will throw a prediction out there though.
The SP will drop when we open unless we get ML + BFS + Zijin gets some sort of smackdown
ML itself won't cut it.
Unfortunately, I don't think we will be immune to what has gone on macro wise the past few weeks.
100% agree
I don't see any reason not to announce ML, BFS and CATH funding (assuming ownership is put to bed) at the same time.
FID would be nice too but might be a few weeks later
Samus
Top 20
It was to do with legal claims that everyone though were pretty far fetched at the time. Very badly written. I'm sure it's buried in the HC share price thread but not having much luck.
Someone might remember tomorrow.
Frank
Top 20
Speaking of Glencore, Mutanda Mining, Tenke Fungurume, a company controlled by China Molybdenum and China Railway Group,
*To Remind,
The DRC President wants to renegotiate the mining contract of Mutanda Mining, a subsidiary of Glencore
The Democratic Republic of Congo has added Glencore’s subsidiary, namely Mutanda Mining (MUMI), to the ongoing process of renegotiating mining contracts.The decision to investigate Mutanda comes as President Félix Tshisekedi makes no secret of his intention to review extractive deals made under his predecessor, Joseph Kabila.
Already, the Presidency of the Republic is reviewing the copper and cobalt projects of Tenke Fungurume, a company controlled by China Molybdenum Co. and China Railway Group.
It is in the same context that the recent agreement concluded between the DRC and the Israeli billionaire Dan Gertler for the case of Ventora took place.
“When you see what happened in this sector under the previous regime, it was outrageous in terms of the concessions given to foreign companies,” André Wameso, the president’s deputy chief of staff for economic issues, said on Thursday in an interview given to the media mining.com.
As the expiration of three of the four Mutanda permits approaches, the Presidency of the Republic has set up an ad hoc commission which will assess the benefits of the project for the DRC, Wameso confirmed in the same interview.
“This is an opportunity for us to see very calmly how things have been done and if there are any improvements in terms of rebalancing the partnership with Glencore,” he said.
“We have nothing against Glencore,” Wameso said, adding that any rebalancing would be aimed at ensuring the “interests of the state are preserved.”
Glencore confirmed in December that it planned to reopen Mutanda, which was put on care and maintenance in 2019 after cobalt prices fell.
The operation will produce around 11,000 tonnes of cobalt per year between 2022 and 2025, with production over the 20-year mine life expected to average around 76,000 tonnes of copper and 21,000 tonnes of cobalt, according to Glencore.
Mutanda produced a fifth of the world’s cobalt and nearly 200,000 tons of copper in 2018, its last year of full production.
The company restarted processing oxide ore stockpiles late last year as it explored the future exploitation of Mutanda’s sulphide resources, according to Glencore’s 2021 annual report.
Copperbelt Katanga Mining - African Copperbelt's Top Mining News
African Copperbelt's Top Mining News
copperbeltkatangamining.com
*To Add
Glencore agrees to pay more than 1.2 billion USD in the United States to settle its corruption cases
Mining and commodities trader Glencore has settled investigations into corruption and market manipulation in the UK and US that have dogged the company for years.
In February, Glencore announced it had set aside $1.5 billion to cover settlement costs in the US, UK and Brazil, and the company confirmed it would appear in court in the United States on Tuesday under “proposed resolutions” to investigate his activities.
Later in the day, the UK’s Serious Fraud Office (SFO) charged Glencore with seven counts of corruption in Cameroon, Equatorial Guinea, Ivory Coast, Nigeria and South Sudan.
A London judge will sign separate penalties for Glencore at a sentencing hearing on June 21.
In the United States, the miner pleaded guilty to violating the Foreign Corrupt Practices Act, agreeing to pay $700 million to resolve the corruption investigation and more than $485 million to settle accusations of market manipulation.
“Glencore today is no longer the company it was when the unacceptable practices giving rise to this misconduct occurred,” Chairman Kalidas Madhavpeddi said in the statement.
The company further agreed to pay more than $39.5 million under a resolution signed with Brazil’s Federal Prosecutor’s Office (MPF) as part of its corruption investigation.
For the past four years, Glencore has been investigated by the US Department of Justice (DOJ), the SFO and Brazilian authorities for alleged money laundering and corruption.
The Swiss company revealed in 2018 that the US DOJ had requested documents related to the group’s activities in the Democratic Republic of Congo (DRC), Nigeria and Venezuela as part of an investigation into possible cases of corruption and money laundering.
Copperbelt Katanga Mining - African Copperbelt's Top Mining News
African Copperbelt's Top Mining News
copperbeltkatangamining.com
If the Swiss are prepared to to pull this Shifty kind of Shit by Screwing everyone over including the DRC, well, It's No wonder others
would try their luck as well imo Especially when you have one of the Biggest and Best Deposits on the Planet that any Country in the World would envy and wish they had in their backyard
Tbo, I Don't envy Felix being caught between a Spodumene Rock and a Hard place when it comes down to dealing with Corruption and Dodgy Deals on one hand, Chinese Co's wanting to Invest, Help build much needed Infrastructure ( Screw him and the DRC for as long as they can after getting away with it for Yrs ) The U.S & E.U looking over your shoulder, Upcoming Elections and putting up with Shit like this on the other hand,
"In this process, (Forum for the unity and reconciliation of Katangans held in Lubumbashi on the initiative of Bishop Fulgence Muteba at the end of which Joseph Kabila and Moïse Katumbi greeted each other after nearly 8 years of estrangement), It is (Felix) Tshisekedi who disturbs, a Kasaïen as we present him", affirms, on Top congo fm, Augustin Kabuya, secretary general of the UDPS.
"What the others say quietly, I say it out loud. Let us build alliances, no one can change the will of God. They now want to make the public believe that it is Felix Tshisekedi who is at the basis of their problems. For the secretary general of the presidential party, "the Lord knew that in this period there will be a Kasai at the head of the country. It is his will".
Reason why "I am very happy, because people have come together from North to South, from East to West to fight a child of God.
The Lord will enter the scene now to show Felix Tshisekedi is (at the head of the country) by my will".
www.mediacongo.net
Food for thought on the long and winding road to Manono
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My take.
Management should come out of suspension by answering the following questions:
1) Status of the last 15% acquired from Dathomir in 2021. They should mention which DRC institution confirmed they have legal right.
2) Status of the 15% to be acquired from Cominière when ML officially obtained. An official statement from the right DRC institution for that kind of matter.
3) Surfaced rights received from CAMI AND PAID by AVZ, hence OFFICIAL ML ANNOUNCEMENT
4) 240Mil from CATH in the bank
In my opinion, BFS and FID are not important when we come out of suspension as it will follow anyway if the four points above are confirmed.
I am sure IF the 4 points are crystal clear and we come out we can enjoy the ride, otherwise we are screwed at least in the short term.
And unfortunately, IF allegations by DATHOMIR and ZIJIN are not rubbish, we can conclude NIGEL is here over his head, at his position you don't declare it's rubbish if it's not.
To delay timelines is one thing you can not control, to say legal claims are rubbish that you control.
What makes me kind of afraid, and I have no experience in this, is that I don't that kind of legal matter to be sorted out in two weeks, anyone has seen something like this in the past?
Management should come out of suspension by answering the following questions:
1) Status of the last 15% acquired from Dathomir in 2021. They should mention which DRC institution confirmed they have legal right.
2) Status of the 15% to be acquired from Cominière when ML officially obtained. An official statement from the right DRC institution for that kind of matter.
3) Surfaced rights received from CAMI AND PAID by AVZ, hence OFFICIAL ML ANNOUNCEMENT
4) 240Mil from CATH in the bank
In my opinion, BFS and FID are not important when we come out of suspension as it will follow anyway if the four points above are confirmed.
I am sure IF the 4 points are crystal clear and we come out we can enjoy the ride, otherwise we are screwed at least in the short term.
And unfortunately, IF allegations by DATHOMIR and ZIJIN are not rubbish, we can conclude NIGEL is here over his head, at his position you don't declare it's rubbish if it's not.
To delay timelines is one thing you can not control, to say legal claims are rubbish that you control.
What makes me kind of afraid, and I have no experience in this, is that I don't that kind of legal matter to be sorted out in two weeks, anyone has seen something like this in the past?
Samus
Top 20
Check this out, not what I'm thinking of which I think was earlier but...
Dated January 6, 2022 at 3:05:28 PM
ouragan.cd
Dated January 6, 2022 at 3:05:28 PM
Les raisons de la cession des actions de la COMINIERE - Ouragan.cd
<em data-rich-text-format-boundary="true">Le 17 octobre 2016, la COMINIERE et DATHOMIR Sarl avaient conclu un accord de joint-venture pour l’exploitation du permis 12202. Ce permis d’exploitation était devenu un permis de recherche 13359. Et, ce après la réalisation du contrat avec MMCS et la...
It was moderated/deleted
I saved a copy of the PDF. Is it worth posting this rubbish up again though? What is it you wanted to know from it?
Samus
Top 20
Just curious if it lines up roughly with the claims that have emerged more recently or not.
From Der Geist, zijin 'news' article etc.
No need to post it.
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