2023 AGM questions

[Hudnut]

I couldn't find a separate thread created for 2023 AGM questions as has been suggested in the main thread by a number of people now. Please delete if one already exists.

Let's not turn this into a rant and try to keep it targeted to questions for the AGM. Maybe we can tally them up and prioritise them closer to the AGM?

I understand the board will not want to answer some of them if they are part of negotiations, but we could list out what we'd like to know in an ideal world and highlight which ones we think we won't get an answer to as well.

I'm not going to start with a big list. Here's a starter.
They might change depending on information coming to hand between now and the AGM.


Q1.- We see in announcements that the Company is communicating with high levels of the DRC Government, yet all public actions we see taken by the Government are contrary to the interests of Dathcom and AVZ (eg. CAMI portal changes etc).
- Who are we engaging with in the DRC Government on a regular basis, and who are "high levels of Government"? ,
- Why are these contrary actions being taken, and by who? ;
- and what is being done to counter these actions?

Q2. - Regarding the MOU:
- How do we intend to enforce it, given the current delaying tactics, and ignoring the current JV and laws anyway?
- Have we conceded any ownership/tenement as part of negotiations?
- Who from the DRC Government is involved in brokering this, and how motivated are they to push to resolution?

Q3. - Funding:
- How long can we keep funding our current strategy?
- When does the board intend to start executing alternative funding arrangements and cost savings?
- What are they (both funding arrangements and cost savings measures)?

I have others, but excellent posters here will probably frame them better.
It wouldn't surprise me if a list is already being compiled by others off the forum either.
Any other contributions?

 

[Hudnut]

As per Scoota30's post in the main thread:
"I think @BEISHA mentioned opening up a thread specifically for questions only (not to flood it), and then maybe the ones with the most up votes start at the top of the list."

I will split my questions in my OP to separate posts. If people can keep their questions in separate posts, we can upvote them to determine priority.

 

[Hudnut]

Q1.- We see in announcements that the Company is communicating with high levels of the DRC Government, yet all public actions we see taken by the Government are contrary to the interests of Dathcom and AVZ (eg. CAMI portal changes etc).
- Who are we engaging with in the DRC Government on a regular basis, and who are "high levels of Government"? ,
- Why are these contrary actions being taken, and by who? ;
- and what is being done to counter these actions?

 

[Hudnut]

Q2. - Regarding the MOU:
- How do we intend to enforce it, given the current delaying tactics, and ignoring the current JV and laws anyway?
- Have we conceded any ownership/tenement as part of negotiations?
- Who from the DRC Government is involved in brokering this, and how motivated are they to push to resolution?

 

[Hudnut]

Q3. - Funding:
- How long can we keep funding our current strategy?
- When does the board intend to start executing alternative funding arrangements and cost savings?
- What are they (both funding arrangements and cost savings measures)?

 

[Scoota30]

From @Samus:

I'd like to know if we still have staff on site and who's protecting our assets like the core library worth 10's of millions. Wouldn't put much past Kibeya and Cominière.
Good question at the AGM?

 

[Hudnut]

Do we have anyone onsite protecting the core sample library and the camp?

 

[Hudnut]

Does AVZ know what activity is occurring (and by who) at the hydro power plant?
What is our plan to recover the plant if it is occupied and being actively worked on and/or disassembled?

 

[Hudnut]

Have we had any discussions with any non-Government actors who may come to power after the election, in case Felix loses the election?
What contingency plans for stakeholder engagement do we have in the event of a change of Government?

 

[Hudnut]

Various actors in the DRC have shown that they are willing to break various laws and agreements.
It seems the only thing that creates movement is the threat of legal action, specifically in ICSID.
It looks likely that any agreement reached could be violated as soon as legal action is dropped, incurring further delays while it is restarted.

- When would the BoD be comfortable to drop ICSID action? After ML? After Mine construction has commenced? After a percentage of Mine construction completed?

- What will we do if we get an MOU, and ICSID proceedings are scheduled to begin prior to any items from the MOU are actioned? Will we drop the ICSID case and trust the MOU will be honoured?

 

[Hudnut]

When did Marius stop working for AVZ, how much did he get paid, and what tangible benefit did we get for our money?

 

[cruiser51]

CAMI
Have surface rights been paid and for which area('s)?
If paid for 13359, does it cover the entire lease and till when.

 

[Azzler]

When Lambo?

 

[Hudnut]

Creation of “Manono Lithium” was made shortly after the hearing in case ICC 26986/SP on October 5 and 6, followed by creation of PR15775 for the North. We know this is inconsistent with claims made prior to the hearing when AVZ set out our case.

What is the status of the ICC case? Decision yet to be formalised? Have they withdrawn?
When you we expect a decision?

 

[Hudnut]

Has Cominiere paid AVZ the $180K awarded by the ICC?

 

[PutUsernameHere]

All these questions are great and all, but I think they can be summarised in a singular one: "What in the actual fuck is happening over there?"

No, but in all seriousness, what you've put forward is great. The lack of transparency and the board's ability to hide behind the shield of priveleged information to protect ongoing legal conversations is understandable, but it's wearing severely thin. The confidence exuded in previous shareholder meetings has not been reflected in the actions seen by us. A realistic timeline for outcomes and follow-through events needs to be disclosed. I don't care if something could take anywhere from 1-4 months, but everyone is over hearing "imminent" or nada. I think what you've got above reasonably reflects this.

 

[BEISHA]

A few questions that i put forward, some correlate with @Hudnut excellent questions ....

a) Funds......AVZ has only 11.75m , lawyers dont come cheap to facilitate multiple ICC cases, plus ISCID, not to mention servicing BOD remuneration fees etc, assuming the MOU is still dragging its feet, how is AVZ going to garner further funds going forward to remain viable?

b) Has the AVZ BOD been able to facilitate personal meetings with FT ? If so..
What is his attitude towards this 18 month stalemate? Why is he allowing Cominiere headed by Kibeya to continue to rule rough shod with Zijin when its clear their corrupt activities has been the reason why Manono development has been stalled as per the IGF report ?

c) why hasnt the IGF report been respected and enacted on ? Is FT waiting on ICC deliberations? Is it for political reasons ? Can you comment ?

d) Do you have think the MOU will be formulated and agreed upon before DRC elections ? Or is FT going to wait until he hopefully gets re elected?
Has AVZ BOD spoken to FT opponents to garner their thoughts about Manono should FT be defeated ?

e) Has there been any TO offers submitted to AVZ BOD ? Is so, can you comment ?

f) What is the reason why AVZ have nominated extra directors to join the BOD...Serge Ngandu, Dr Casta Tungaraza, Her excellency Salome Sijaeno considering funds are dwindling ? Is it because you expect some favourable results imminent regards to obtaining ML and subsequent construction / production and their skills would compliment future activities / other projects possibly?......could you comment?

Its less than 2 weeks before the AGM, need to compile a FINAL list of questions that covers the most pertinent issues to garner clarity for shareholders going forward.

I have cleared my work schedule for the AGM and happy to be the spoke person once again with some assistance from my fellow comrads who are attending also...

So everyone put your thoughts together and keep the questions coming, then in the final week before the AGM, lets vote for the questions most important.

imo

 

[Scoota30]

All these questions are great and all, but I think they can be summarised in a singular one: "What in the actual fuck is happening over there?"

No, but in all seriousness, what you've put forward is great. The lack of transparency and the board's ability to hide behind the shield of priveleged information to protect ongoing legal conversations is understandable, but it's wearing severely thin. The confidence exuded in previous shareholder meetings has not been reflected in the actions seen by us. A realistic timeline for outcomes and follow-through events needs to be disclosed. I don't care if something could take anywhere from 1-4 months, but everyone is over hearing "imminent" or nada. I think what you've got above reasonably reflects this.

Please let's keep this thread as questions only, we can keep the discussion or debates over questions over on the other thread to minimise the pages here and make it easier for who compiles the list.
Thanks all

 

[Scoota30]

f) What is the reason why AVZ have nominated extra directors to join the BOD...Serge Ngandu, Dr Casta Tungaraza, Her excellency Salome Sijaeno considering funds are dwindling ? Is it because you expect some favourable results imminent regards to obtaining ML and subsequent construction / production and their skills would compliment future activities / other projects possibly?......could you comment?

Building on Beisha's Question f), quoted from Nigel's statement in the annual report is the snippet below and it reads as if we are interested in other projects across Africa - what kind of progress has been made here, do we have our eye on other projects at the moment? Are we waiting on a Domino to fall to make some sort of acquisition or is part of the MoU deal for us to cede something related to 13359 in return for another tenement somewhere else within the DRC? I.e we forfeit the FROR on the 15% from comineire for 100% ownership on some other tenement.

"The recent Board appointments of Her Excellency Salome T. Sijaona, Dr Casta Tungaraza and Mr Serge Ngandu has further strengthened your Company’s expertise and diversity to deliver projects in Africa, with these outstanding appointments bringing to the Board established, trusted, high-level relationships with government and major industry leaders across the continent. "

 

[Scoota30]

Government support (Aus/US)

From the below article, it states that the US embassy is following the Manono file diligently and has advised US companies not to progress with investment within the DRC. We have also seen responses to shareholders speaking on behalf of Penny Wong stating that the Aus gov is aware of the situation at hand.

To what degree is the Aus government supporting the project and why have we only seen the Aus ambassador to Zimbabwe with DRC Govt, why has albo, penny or the federal resource minister jumped on a plane to support?

"According to several sources, the United States Embassy in Kinshasa is closely monitoring this matter and informs all potential American investors to await the outcome of the AVZ affair before any planned investment in the face of any proposal made to them on the Permit. from Dathcom."

Tous pour la RDC - Des étapes importantes sur le parcours d'AVZ, d'AVZ International, Green Lithium et de Dathcom Mining SA

le groupe AVZ est responsable de la gestion et du financement de toutes les activités du Permis minier,a dépensé à ce jour plus de 110 millions de dollars …

touspourlardc.org