Can they remain suspended due to arbitration alone ? I've held stocks in the past that had ownership disputes dragged through courts and after an initial trading halt recommenced trading . KDR is one example . MZN claimed KDR agreed to sell the Mt Holland deposit to them for $100k in a series of email exchanges .
AVZ Discussion 2022
- Thread starter GazDix
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Deleted member 1612
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Regardless I’d the outcome I think we’d be lucky not to take a hit considering how far the market has come down. Surely we can’t avoid it completely. Doesn’t matter if you’re a long term holder and I’d be bloody happy if this was the one stock that held up through this but I think that’s fanciful thinking…
Retrobyte
Hates a beer
The top of the arch is bloody high - I climbed up there to the flagpoles one night with some mates when I was at uni in the early 80s, before organised bridge walks with safety harnesses and the like were a thing. I had a few under my belt, which was good, because I wouldn't have climbed it sober. We had to climb a bunch of narrow stairways and ladders - in most places there was a knee high wire rope as a "fence", but that was it. One of my mates' dad was a maintenance worker on the bridge so my mate knew where the key was hidden to open the gates that block access to the stairways and ladders.
But I digress - there's a lot of wind at that height (150m) so a very long flagpole will need to be a very solid piece of kit (the flags are 9m long so are like a massive sail in that wind). And then the question is how to get it up there and attach it - they won't do it while the bridge is open, for safety reasons with road traffic, trains, boats and pedestrians underneath - so maybe part of the cost is the cost of closing the bridge for a period of time to get the work done - that will entail traffic control, policing, security, re-routing trains or having buses replace trains etc. The pole would need to be delivered and placed using choppers I reckon.
But, yeah, $25m is hard to fathom even taking all that into account.
DiscoDanNZ
Regular
The amount being spent doesn't surpise me in the slightest as the NSW government doesn't mind throwing money at stuff, just look at the light rail through the CBD. It's an absolute waste of time.
When it was all over the news about how far behind schedule it was I was doing a fitout high up in the World Square building and counted 5 people 'working' over 7 blocks and that was 2 groups of 2 doing nothing but chat and 1 guy leaning on a broom
Remark
Top 20
I was wondering what that was
I certainly hope Willy Kitobi Samsoni runs the ruler over the AVZ / Zijin shit show, just like he is doing with Gecamine........*To add,
Congo miner threatens to seize cobalt project from Chinese partner
The dispute between the current partners began around last August, when CMOC announced it would invest another $2.5 billion to more than double production at the mine.
Gecamines officials questioned how it could achieve the huge increase without raising its reserve estimates, which would trigger royalty payments of $12 per ton, Ntambwe said.
Within weeks of CMOC’s announcement, Congo President Felix Tshisekedi formed a commission to examine the partnership and Gecamines soon followed with a lawsuit at the Lubumbashi commercial court.
In February, the court decided in Gecamines’ favor, ordering that Tenke Fungurume Mining SA should be run for at least six months by Ngoie, who has a PhD in geohydrology and previously worked for a number of mines in Congo including TFM.
Broken down
Congo’s government put the appointment on hold while the presidential commission tried to negotiate with CMOC, but talks have broken down again, according to Mwine, who is also coordinator of the commission.
Ngoie said he is neither on the side of CMOC nor of Gecamines, and his concern was the health of the company.
“I am the church in the middle of the village,” he said. In addition to TFM’s bank accounts, Ngoie said he soon will control its exports.
“They don’t go by plane, they only go by road and one way or another, I’ll control that,” he said.
"I have the power to do that.”
Mwine says Gecamines has a right as a shareholder to block the project’s exports.
“Tactical arrangements can also be made at road level so that no TFM production can go out,” he said.
“We have a lot of options on the table and if they continue with this game, things will get harder.”
Copperbelt Katanga Mining - African Copperbelt's Top Mining News
African Copperbelt's Top Mining Newscopperbeltkatangamining.com
“The challenges to be met in the mining sector of the DRC”,Willy Kitobo’s cry for the development of the mining sector
University professor, Willy Kitobo Samsoni, presented, on Friday June 17, 2022, in Kinshasa, the capital of the Democratic Republic of Congo, his new book entitled “the challenges to be met in the Mining sector of the Republic Democratic Republic of the Congo”.
This 239-page book indeed contains, for its author, a cry of alarm for the development of the mining sector of the Democratic Republic of Congo (DRC).
In front of media professionals, the Honorary Minister of Mines of the DRC indicated that this book has three missions, namely:
• List all the evils that plague the Mining sector for the exploitation of the ground and subsoil resources of the DRC;
• Identify the challenges to be met and sensitize the Congolese population, more particularly decision-makers and stakeholders in the sector, on the need to adopt good practices;
• Strictly apply the Mining Law to hope to achieve the objectives set by the legislators during the revision of the mining code of 2018.
In his presentation, Willy Kitobo Samsoni revealed that the mining resource potential of the Democratic Republic of Congo is very vast and varied.
This is poorly known, explored and exploited on less than 12% of the national territory.
It constitutes and will constitute by its valorization still for a long time the first source of the receipts of the State.
The author insisted on the need to adopt good practices and strictly apply the Mining Code to hope for real development in the Democratic Republic of Congo.
“In terms of mineral resources, energy resources, but also hydroelectricity, the DRC has a very significant potential that is often described as a geological scandal.
The valorization of this potential with a responsible management would make it possible to solve all its problems of electricity and economy in general.
In reality, this geological potential is poorly understood.
Since since the colonial era, research has only been carried out in depth on part of the national territory and private mining operators continue to discover interesting deposits until today, in particular Ivanhoé in the province of Lualaba. “, said Professor Willy Kitobo.
According to him, the history of the DRC’s mines shows that the exploration and exploitation of mineral resources began very early in the colonial era with the creation of State Portfolio companies such as Gécamines, the Miba, Sakima and Sodemiko.
It was with the bankruptcy of these Congolese state companies that the latter was pushed to liberalize the mining sector to acquire private investment, he said.
According to him, the new Mining Laws, in particular the 2002 Mining Code, and several private investors interested in mining have enabled the revival of mining activities in the country, this time with the creation of more than 60 mining companies.
Several years have passed and a new 2018 Mining Code was promulgated in March 2018.
This new Mining Code wanted to balance the mutual interests of the DRC and the private sector, review the social and environmental responsibilities of companies as well as push the country to emergence.
The failure of the DRC in the Mining sector
Although described by some as a geological scandal, the Democratic Republic of Congo (DRC) does not seem to benefit from its natural resources.
For Willy Kitobo Samsoni, the failure in the management of the DRC’s mining sector is largely attributable to the Congolese themselves.
For him, although the country has a legal arsenal in this sector, several laws suffer from lack of application.
“ Today, we tend to blame foreigners as the looters of our mineral resources and say that the mines do not benefit the country.
I think we have to relativize what we often say. In this sense, our failure to manage our mineral resources is shared.
Indeed, it is we who establish the Laws and decide on the granting of all mining and quarry rights to foreigners and nationals.
We are still the ones who organize and control all mining activities, but unfortunately, all good laws always find flaws in their application. “ , he argued.
Willy Kitobo indicated that when one reads the motivations for the revision of the 2018 Mining Code, one understands that most of the evils of the mining sector were already identified, but neither the political authorities nor the mining authorities want to change things completely.
This work ” the challenges to be met in the mining sector of the DRC” is for the author a cry of alarm to make the Congolese understand that they are the only ones responsible for all the bad policy which blocks the development of the Mining sector of the DRC and this prevents the Congolese population from taking advantage of its wealth of the soil and subsoil.
In addition, the author indicates that this text, although complex in the eyes of many Congolese, not having a minimum of knowledge in the field of Mines, contains details accessible to a broader and multidisciplinary public.
Professor Willy Kitobo Samsoni’s 239-page book is divided into five (5) chapters.
The first chapter deals with the problems and the challenges of geological research for a better valorization of the important mining potential of the DRC.
This chapter focuses readers on the lack of knowledge of the country’s mineral resources and the difficulties encountered by the State to fully play its main role in the Mining sector as set out in Article 8 of the Mining Law, i.e. that is, to promote and regulate the development of the mining sector, to ensure the development of the mineral substances of which it is the owner by appealing in particular to private initiative in accordance with the provisions of the Mining Code and to improve the geological information of the national territory.
This first part of the book also evokes the coverage rate of mining activities to show the reader how, since the advent of the independence of the DRC, mining has been developed on only about 12% of the territory. national and this, on the basis of geological indices discovered since the colonial era.
The second chapter of this book is based on the administration of the Mining Code of the Democratic Republic of Congo and the governance of the mining sector.
This chapter discusses stakeholders in the mining sector in the country who play an important role in the administration of the Mining Law for the success of the activities of the mining sector and the mobilization of revenues from this sector.
This same chapter covers the problems and challenges encountered in the management of the domain and mining title as well as all the problems encountered by the mining services during the monitoring and control of mining activities.
The third chapter concerns industrial mining itself, its importance in the economy of the country, the evils and the challenges to be met.
The penultimate chapter of this book focuses on artisanal mining, its importance in the social life of the Congolese population, the many evils that characterize it as well as the challenges to be met in order to solve this problem.
The fifth and last chapter takes up the problems and challenges to be met in the Mining sector to protect the environment.
This same chapter focuses on the problems and challenges encountered in applying the provisions of the Mining Law on corporate social responsibility (CSR).
Copperbelt Katanga Mining - African Copperbelt's Top Mining News
African Copperbelt's Top Mining News
View attachment 9748
I wonder whether he is linked with the IGF report ?
That article does provide me with hope that the DRC is finally wising up !
imo
Dijon101
Regular
I witnessed one of the trams engines "exploded" absolute shit show..The amount being spent doesn't surpise me in the slightest as the NSW government doesn't mind throwing money at stuff, just look at the light rail through the CBD. It's an absolute waste of time.
When it was all over the news about how far behind schedule it was I was doing a fitout high up in the World Square building and counted 5 people 'working' over 7 blocks and that was 2 groups of 2 doing nothing but chat and 1 guy leaning on a broom
Same with the new manly ferry's from China..
Dodgy chinese ferrys that are alrady breaking down and are not suitable for the route.
Slow news day I must say.. sorry @zeeb0t not much else going on with AVZ
Just imagine what $25m could do for the health and welfare for the poor indigenous living in the outback ?
The indigenous flag is now free to use in any capacity , after Scott Morrison bought the rights from Mr Harold Thomas in January 2022
The Aboriginal Flag may have been freed, but certain restrictions on use still a
The Australian Government recently acquired the copyright in the Aboriginal Flag and has announced that it is 'freely available for public use'. However, it is not in fact a free-for-all, and there are some important limitations to bear in mind.
So no royalties for copyright would be included in that $25m quote.
"Things that make you go........................hmmmmmm "
imo
Samus
Top 20
I was under the impression that (according to claims) a high court in drc had annulled the 15% originally purchased from Dathomir and the next step for avz was to take this to supreme court.
But perhaps I've got lost in all the claims and counter claims, dozens of articles and lack of official information from the company.
Retrobyte
Hates a beer
Exactly. The easiest thing by far would be to remove the NSW flag and replace it with the indigenous flag - two flags on the bridge would be enough, no need for adding a third flagpole
May as well throw the Torres Strait Islander flag up there while you have all the tools out!
Does anyone have an opinion as to why we are actually in suspension ?
I understand the 15% we have first option on.
I understand the shit fight over the 15% AVZ say we own but others say we lost in a court case.
What I can’t get my head around is why we aren’t trading, is there a more sinister problem to do with our claim on the whole Manono mine site..???
Are we just taking advantage of the current situation until all sorted because AVZ have stated the suspension is not dependent on the arbitration case….
long time holder just looking for answers, the African posters on Twitter Joe, Frank etc seem to have gone quite.
Not downramping, on the surface AVZ have done everything correct and should not be dealing with this corrupt shit, we should be building a mine.
I understand the 15% we have first option on.
I understand the shit fight over the 15% AVZ say we own but others say we lost in a court case.
What I can’t get my head around is why we aren’t trading, is there a more sinister problem to do with our claim on the whole Manono mine site..???
Are we just taking advantage of the current situation until all sorted because AVZ have stated the suspension is not dependent on the arbitration case….
long time holder just looking for answers, the African posters on Twitter Joe, Frank etc seem to have gone quite.
Not downramping, on the surface AVZ have done everything correct and should not be dealing with this corrupt shit, we should be building a mine.
Winenut
GO AVZ!!!!
Samus
Top 20
I'm thinking perhaps they need to know the make up of Dathomir and pass on the percentage to drc before the paperwork can be signed off and surface rights paid.
Might be way off but logic dictates it would make sense. Management not really giving anything away.
Gone from surface rights paid in a few days and licence granted to months of suspension. Pretty frustrating.
Agree gtf on with it. Licence already more than 12 months past what was originally expected.
Could be right @ohreally but this didn't come across as an issue in the original announcement for the decree. I still wonder if splitting the tenement might have suited management in some way, either to speed up the process or by keeping options open to possibly sell off a chunk in future.
Regardless I'm sick of this shit, it would be very nice to have a bit of clarity. This should have been such a positive time in the companies history and instead it's a shitshow.
You are right.
Mining licence to cover surface rights payment for Carrier De Lest and Roche Dure.
Should Mining Licence be confirmed with payment of surface rights on both then that also implies that 75 % good legal title as AVZ requires 51 % through Dathcom after 24% is transferred to CATH.
Otherwise no Mining Licence can be awarded as Mining 8 post reported.
ÀLL IMO
Winenut
GO AVZ!!!!
What it tells us unfortunatley is we don't actually know what has transpired with any certainty and can merely form opinions based on best assumptions and negligible facts
Frustrating position without a doubt but with the legal aspects that seem to be tied up with the overall mess it is probably prudent for AVZ to remain tight lipped and in suspension until everything is resolved.....hopefully in our favour with legal binding determinations and the full support of the DRC government
Frustrating position without a doubt but with the legal aspects that seem to be tied up with the overall mess it is probably prudent for AVZ to remain tight lipped and in suspension until everything is resolved.....hopefully in our favour with legal binding determinations and the full support of the DRC government
Bin59
Regular
Would the surface rights payment exclude the area the Tantalex tailings occupy? If so, it might take a while to calculate the surface rights payment.
I’ve noticed a couple of fairly recent articles on Tantalex (with some references to AVZ) which may be of interest to some here.
Tantalex: Developing the world’s largest known lithium tailings project
Tantalex is focused on the exploration and development of battery minerals in Manono, DRC, the rising hub for lithium, tin and tantalum.
www.innovationnewsnetwork.com
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