AVZ hired him or was that klaus? we must have seen the light and got rid of him. Who knows how much damage he did
AVZ Discussion 2022
- Thread starter GazDix
- Start date
Winenut
Go AVZ!
My collection of slugs and snails tried so hard but ultimately disappointed themselves and couldn't achieve the goal.....
Last edited:
Mr_Tones83
Regular
I made it about 8mins in and couldn't watch any longer.
A few extra points to show the level of intelligence we are dealing with in our opposition (just in the first 8mins mind you):
1) He thinks that AVZ raised $4bill in cash (doesn't know what market cap is).
2) Has no understanding of how the right of first refusal works.
3) He purports that the DRC always knew the lithium was there and knew that it would increase in value even before AVZ was involved.
4) He claims that he brought all this video and documentary evidence that no work had been done and the project hadn't advanced.
Absolute muppets
Winenut
Go AVZ!
Gee! It seems like only yesterday.....
Sarama Resources (SSR) has secured funding for their ICSID case through Locke .
Summary of Locke Facility
Non-Recourse Loan: The US$4.4 million loan is non-recourse, meaning repayment is only required if the Company wins or settles its arbitration claim.
No External Security Required: The loan is secured solely by the arbitration claim and potential proceeds, with no liens or encumbrances placed on the Company’s other assets or operations.
Isolated to Claim Proceeds: Repayment obligations are limited to proceeds from a successful award or settlement in the arbitration. If the claim is unsuccessful and there is no default, the Company has no repayment obligation.
Business Operations Unaffected: The Company can continue operations and consolidate assets outside the arbitration claim chain without any impact from the loan facility.
Limited Recovery for Funder: In the event of a material adverse change, the Funder can only recover unspent funds, with no claim on other Company assets.
Flexible Repayment Structure: Funder’s return and repayment amounts depend on successful claim proceeds and are structured by the LFA’s confidential distribution priorities.
Is AVZ the next cab off the rank ?
Summary of Locke Facility
Non-Recourse Loan: The US$4.4 million loan is non-recourse, meaning repayment is only required if the Company wins or settles its arbitration claim.
No External Security Required: The loan is secured solely by the arbitration claim and potential proceeds, with no liens or encumbrances placed on the Company’s other assets or operations.
Isolated to Claim Proceeds: Repayment obligations are limited to proceeds from a successful award or settlement in the arbitration. If the claim is unsuccessful and there is no default, the Company has no repayment obligation.
Business Operations Unaffected: The Company can continue operations and consolidate assets outside the arbitration claim chain without any impact from the loan facility.
Limited Recovery for Funder: In the event of a material adverse change, the Funder can only recover unspent funds, with no claim on other Company assets.
Flexible Repayment Structure: Funder’s return and repayment amounts depend on successful claim proceeds and are structured by the LFA’s confidential distribution priorities.
Is AVZ the next cab off the rank ?
TheCount
Regular
RIP John25.
Carlos Danger
Top 20
'Security of the Facility is limited to the Claim, associated potential proceeds and all benefits arising from the property and assets of the subsidiary companies comprising the ownership chain pertaining to the Project'
12 months for AVZ and Locke to agree on an appropriate $ or % repayment from the ICSID claim?
20m USD is a very particular number imo
Frank
Top 20
CashKing
Regular
Schnitzelfresser
Member
Not sure I am gonna be happy about a closure of Locke funding or not. Only results in the long long long game.
IMO we need the Locke funding not just to fund our arbitration activities, but to show proof that our opponents plan to bleed us into bankruptcy is not viable. For now it seems DRC is ignoring our efforts to negotiate, no doubt with our enemy whispering into their ears that we are a done concern and no real threat. Having our litigation funded however would provide us with a bit more sting in our tail and boost the pressure on those entities to sit down with us and figure something out.
Cumquat Cap
Regular
Agreed Roon, they are hoping we go into VA and Locke funding will show that’s at least 3 years from happening. Stifling any purported good work they are doing in improving the business climate.
Not once has a DRC govt official mentioned avz in public, they are scum and orchestrated this for years post DFS with Felix being the lead and most likely largest benefactor of Chinese bribes. Terrible business climate, we’re gonna have to teach them a lesson. Trump will be a lot harsher than Biden has been which may work in our favour.
Not once has a DRC govt official mentioned avz in public, they are scum and orchestrated this for years post DFS with Felix being the lead and most likely largest benefactor of Chinese bribes. Terrible business climate, we’re gonna have to teach them a lesson. Trump will be a lot harsher than Biden has been which may work in our favour.
What's Locke's cut ? No mention in the SRR announcement .
I’m sure nothing for nothing. They will do very well out of the deal. Something for the shareholders is better than nothing at the end of the day.
Carlos Danger
Top 20
'The Funder’s return is directly tied to the successful award and settlement of the Claim, with the total amount payable being a function of time and total Proceeds receipted. The priorities for distribution of receipted Proceeds are set out in the LFA and where commercially and legally sensitive, shall remain confidential.'
Sarama 'will seek full compensation for the loss suffered which may include, but will not be limited to, the value of the Permit, the value of the Company’s historic investments in the Project, the value of the Project at the time the Permit was withdrawn and damages the Company has suffered as a direct result of the Government’s actions'
Meanwhile AVZ's 'main purpose of the ICSID Arbitration Request is to seek various remedies for the failure of the DRC and its administrative departments, to comply with obligations under the DRC Mining Code, in particular in the implementation of the various measures that should have led to the issuance of an Operating Permit to Dathcom resulting from the Research Permit "PR 13359", for the development of the Manono
Project'
After the decision on interim measures at the ICSID 'the tribunal has asked that Dathcom expressly confirm that should the DRC comply with these interim orders, AVZI, GLH and Dathcom will request the release of the PE and if the DRC releases it, they will progress the development of the project immediately. The Company will take the necessary steps to procure that AVZI, GLH and Dathcom provide that confirmation.'
How does Locke get paid back if the DRC government agree to grant us the licence during negotiations?
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