The rich get porkier, the poor get skinnier.........Fuck old mates already at FT private party
Wonder where he left he’s “Coat”
GLTAH FFS
Disgusting !!
AVZ Discussion 2022
- Thread starter GazDix
- Start date
Disgusting !!
Winenut
GO AVZ!!!!
Really no need to apologise , its healthy to vent out your emotions rather than let it infest your mind privately....
We have all vented plenty in the past on this forum , ( with @Winenut the leader of the pack) allowed negative thoughts to enter the fray and will probably continue to do so until a positive conclusion finally appears........whenever that maybe.....
Belief and hope is what we all need and considering that alot of financial futures are on the line here, i think the conversations, sleuthing, humour and overall camaraderie is excellent.
May it continue.
Now i will get back to reading the next 9 pages that i have missed out on.
Fuck me, are all you pricks on steroids or something ?
lol
For the record I am trying to redeem myself with erudite observations, a focused/proactive approach and contribution to a pointed letter which will hopefully be widely and publicly distributed soon
If none of that works I make no guarantee as to what may ensue.....
Nigel needs to get one on one with the President again and pronto..............................
MoneyBags1348
Top 20
I just read tommy’s full article…. at least I think that might be supposed to be the full article, only the original article by him had this photo attached
…. which we all know had nothing to do with Nigel Ferguson or Manono.
I’m just wondering if I am missing something here because it seems like he is attempting to cover up all his previous comments in the AFR of which I’m sure our lawyers have copies of.
And is he now suggesting that boatman is just a small corporate investigations service for hedge funds after the comments suggesting Marius is a corrupt middleman Nigel is using…. And how did he obtain information that was confidential?
These claims are so vile, sinister, and undermining of honest shareholders who have invested in AVZ that what really concerns me is richardson’s family.
I genuinely hope he comes to the attention of someone in an official legal capacity, or at the very least the Child Protection Agency because someone who clearly displays such questionable morals needs to be looked into when families are involved
…. which we all know had nothing to do with Nigel Ferguson or Manono.
I’m just wondering if I am missing something here because it seems like he is attempting to cover up all his previous comments in the AFR of which I’m sure our lawyers have copies of.
And is he now suggesting that boatman is just a small corporate investigations service for hedge funds after the comments suggesting Marius is a corrupt middleman Nigel is using…. And how did he obtain information that was confidential?
These claims are so vile, sinister, and undermining of honest shareholders who have invested in AVZ that what really concerns me is richardson’s family.
I genuinely hope he comes to the attention of someone in an official legal capacity, or at the very least the Child Protection Agency because someone who clearly displays such questionable morals needs to be looked into when families are involved
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You dont get tricked into anything if conditions are plainly set out in writing, proof read by lawyers and signed off by all concerned.....
The original decree was flawed from the start............should never of been released to the ASX until rectified.
Amateur hour by AVZ bod and a expensive one too.
imo
"I suspect what the DRC government is doing is playing everyone off against each other and see who offers the best deal.’’I do notice a remarkable change of tone from Tommy, looks a little like he is giving the honour (kind word for throwing under the bus) of discovering all his news to a certain David Robertson.
I would not be surprised if Tommy's Boss told Tommy to take his foot a little of the accelerator pedal.
I don't know how much litigation insurance the AFR has....
Maybe Tommy is supporting AVZ on Monday, who knows how this worm turns.
Tasmanian geologist’s lithium fortune implodes in the Congo
Tom Richardson and Aaron Patrick
Mine fight Nigel Ferguson is in a battle with Chinese rivals.
Eight months ago, a former business journalist working from a modest London apartment on the south bank of the Thames, David Robertson, penned a three-page letter to the Australian Securities and Investments Commission and the Australian Securities Exchange.
Robertson’s target was a company run by a Tasmanian geologist named Nigel Ferguson. For three years, Robertson had tracked AVZ Minerals as it raised and spent $100 million for what Ferguson promised would be one of the world’s biggest lithium mines.
‘‘We are calling on both ASIC and ASX to investigate AVZ Minerals over its apparent failure to disclose material information and potentially making false and misleading statements to investors,’’ Robertson wrote.
Now running a small corporate investigations service for hedge funds, Robertson had become obsessed with AVZ. Even though at its peak the Perth-based company was valued at $4.6 billion and was part of the S&P/ASX200, he was convinced it was worthless.
If he was correct, Ferguson could kiss goodbye to his $66 million fortune.
Ferguson is not well known in Australian business circles. But if he gets his huge mine built near the sleepy town of Manono in the Democratic Republic of the Congo – there is a still a chance he can pull it off, albeit a slim one – Ferguson could become as important a figure in the global mining industry as Andrew Forrest or Gina Rinehart.
First, though, he will have to beat the Chinese in Kinshasa.
Ferguson’s online biography states that he was educated at one of Hobart’s best private schools, Friends, where he played rugby and rowed. After a degree in geology from the University of Tasmania, he searched for minerals around the world. Africa became his speciality, and he led Ashanti Goldfields’ work in Tanzania, where it bought a gold mine that is now one of AngloGold Ashanti’s most profitable.
By 2018, the year after Ferguson became managing director, AVZ said it had discovered ‘‘the largest hard rock spodumene deposit’’ in the world near Manono, a town four days’ drive from the capital, Kinshasa.
In the years that followed, Ferguson worked hard on a plan to turn the deposit into a working mine. Lithium stocks would soon surge on demand for the mineral essential for the production of electric vehicle batteries. At the time, though, local investors had little appetite for high-risk lithium projects. AVZ had to find Chinese backers and retail speculators.
In 2021, when AVZ raised $100 million from investors, Ferguson told reporters that Manono could become one of the most profitable lithium mines on the planet. ‘‘It is the largest, second-highest grade undeveloped deposit in the world,’’ he told Stock-head, a small-caps publication. ‘‘We will be in the bottom cost quartile for production. We are also in the bottom quartile for greenhouse gas emissions.’’
The company’s geologists estimated there were 401 million tonnes of ore containing 1.65 per cent lithium oxide, which Ferguson predicted would generate $US380 million of operating profits a year.
He said AVZ would be one of the biggest lithium producers – a development that would place him, and the DRC, in the middle of a global struggle for a mineral essential to the renewable energy transition.
‘‘We are talking potentially 10 to 15 per cent of the current market, and if we supersize . . . we are probably looking at 25 per cent of the market,’’ Ferguson told 121 Mining TV, an online news site.
AVZ’s licence allowed it to drill to determine how much lithium there was in the deposit. The company did not have a permit to construct a mine, or the $US545 million to build it and provide infrastructure to transport the ore across Africa for shipment overseas.
In an interview that May with a website called Small Caps, Ferguson was asked about a mining licence. He said the company had translated an application into French for consideration by DRC’s mining ministry. Approval, he implied, was coming. The company even expected tax breaks.
‘‘It’s a rubber stamp we need to have on that one yet,’’ he said. ‘‘The indication is it will probably take us six to eight weeks to have that formally awarded. We don’t think there’s going to be anything untoward there – and yes, you’re quite right. It’s a massive move forward. It’s a big tick.’’
In May 2021, AVZ outlined plans to ship lithium by the start of 2023.
AVZ said it owned 75 per cent of the corporate entity that controlled the exploration permit, Dathcom Mining, and had an agreement to buy 15 per cent more. In 2021, however, AVZ lost two separate challenges to its ownership, first to Chinese outfit Zijin Mining and another to a vehicle known as Dathomir, which Robertson says has historical links to the Kabila family, still powerful in the south-eastern part of the DRC.
These decisions were not disclosed to investors until May – AVZ never believed they had any merit – while the shares rose from 15¢ to $1.30.
Ferguson, writing in the company’s annual report, explained it this way: ‘‘Our success did not go unnoticed with other mining companies and ex-partners in Dathcom Mining suddenly wanting to again be part of the project but had no legal basis for acquiring new shares or had already sold their shares legally to AVZ. Claims from these companies are spurious of nature and hold no legal basis.’’
As for Robertson’s allegation that investors weren’t kept up to date, Ferguson said on Friday: ‘‘The company treats such allegations seriously and confirms that it has and continues to comply with the company’s disclosure obligations under the Corporations Act and the ASX Listing Rules.’’
Neither the ASX nor ASIC has taken any visible action over the allegations, and it is unclear whether they consider action to be justified or necessary.
Ferguson provided a four-page statement that presented AVZ’s case that it is the target of a campaign conducted through ‘‘through questionable and irregular means’’ to capture part of the lithium deposit.
Internally, the company felt under attack. After spending millions on geological surveys, Zijin Mining was using Congo’s courts to split control of the deposit, the board believed. The board’s views became public after its legal advice was leaked to the Financial Review.
‘‘It is well known to the Board that AVZ Minerals is the subject of a protracted campaign by various third parties to seize control of AVZ’s interest in the Manono project in the Democratic Republic of Congo,’’ the memo from law firm DLA Piper dated June 22 read.
The memo listed elements of the campaign: AVZ’s enemies had threatened staff in the Congo, cut off its access to Congolese government officials, tried to convince the government to block the project, and run a campaign to manipulate the AVZ share price.
By that time, it was no longer possible to influence AVZ shares. On May 9 last year, AVZ placed its shares in an ongoing trading halt.
To fight back against what they saw as a campaign to take their project, Ferguson and his chief financial officer, Jan de Jager, decided to hire a Congolese business consultant with political connections, Marius Mihigo.
Under the plan, a $US1 million cash fee was authorised. Another $US3 million in cash and $US2 million in AVZ shares would be paid as a success fee if Mihigo helped secure the mining licence.
Mihigo’s social media profile boasted of a Harvard and Oxford education and placed him in Sandton, one of Johannesburg’s wealthiest suburbs. AVZ’s investigations suggested he moved to Sandton in 2019, around the time left a job working for DRC President Felix Tshisekedi. He had run an Ivory Coast security company before establishing a company providing high-level consulting and lobbying services, according to the report.
The AVZ board became alarmed after it was informed of the plan to hire Mihigo.
In June, it commissioned DLA Piper to conduct a review of its anticorruption and anti-bribery policies. The law firm hired advisers to conduct background checks on Mihigo. They broadly cleared him, and DLA Piper ultimately gave AVZ the green light to engage Mihigo to assist with obtaining the licence.
When Robertson, in London, implied on Twitter this week that hiring Mihigo might not be appropriate, the African replied: ‘‘Your racist tweet is for the sole purpose of attacking my reputation and that of AVZ. Serious people know that AVZ does not engage in corrupt actions and that is the reason why corrupt people fight AVZ.’’
‘‘AVZ will be restored its rights,’’ he wrote. ‘‘The corrupt people who want to steal the AVZ project seek to create media confusion to distract President Tshisekedi, but I remain confident that no one will be able to deceive the president and that AVZ will be able to develop the project.’’
On Monday, AVZ conceded the Manolo mining licence had been revoked entirely. The disclosure was made after the Financial Review asked the company why it had not yet told investors.
The board said it was seeking legal advice ‘‘whilst expediting discussions to clarify the intentions of the competent DRC authorities’’.
From Cape Town, Ferguson said he wasn’t giving up: ‘‘Nothing will deter the board and I from pursuing a just outcome for our shareholders, which my executive team are working tirelessly to achieve and we will provide a further update to shareholders as soon as we are in a position to do so.’’
In a phone interview from London this week, Robertson speculated that Ferguson had been outmanoeuvred by Chinese mining interests in the opaque world of Congolese politics and business.
‘‘They thought it was a goer; they got the mining decree and it was all going well,’’ he said. ‘‘Clearly, more powerful forces – and I assume those were Chinese, of what faction I don’t know – had gone presumably to the president, who says: ‘No, AVZ doesn’t get the licence.’ I suspect what the DRC government is doing is playing everyone off against each other and see who offers the best deal.’’
AVZ has $36 million left in the bank. The company’s seven top executives and chairman were paid $13.5 million last year, even though the company lost $20.4 million. At $3.2 million, Ferguson was the best-paid employee.
Thats what I suspect too unfortunately.
"AVZ has $36 million left in the bank "
Hmmm, is it time to put the 4 diamond drill rigs and the construction works on camp colline on hold, until you get a grip on " harmonising " the Dathcom register Nige ?
Its completely meaningless until then dont you think ?
Just a thought.
Carlos Danger
Top 20
The original sin of all our problems imoYou dont get tricked into anything if conditions are plainly set out in writing, proof read by lawyers and signed off by all concerned.....
The original decree was flawed from the start............should never of been released to the ASX until rectified.
Amateur hour by AVZ bod and a expensive one too.
imo
Great idea.
TheCount
Regular
MoneyBags1348
Top 20
Sorry Marie-o-anna
Ich kann nicht auf Deutsch sprechen
Ich kann nicht auf Deutsch sprechen
Samus
Top 20
22 Dec 19. Babcock hunts down shadowy tormentor. Submarine and warship repairer Babcock believes it has identified the anonymous analyst behind a damaging attack on the company. Babcock, one of the Ministry of Defence’s biggest suppliers, was blindsided in October last year when a previously unknown organisation, Boatman Capital Research, published a highly critical dossier.
The report claimed the company had “systematically misled investors by burying bad news about its performance”, and called for the departures of chief executive Archie Bethel and then chairman Mike Turner.
The 23-page attack wiped more than 5%, or £130m, from the company’s market value. Babcock published a rebuttal, claiming the report contained “many false and malicious statements”.
The board hired the investigative firm Kroll to trace the author. It is believed to have identified David Robertson, a former journalist at The Times who worked at the corporate intelligence firm K2 and now runs his own company.
Babcock is believed to have written to Robertson, 46, warning him to cease and desist, but is not thought to be taking further action.
Robertson, whose outfit, Thirteen Research, conducts corporate investigations, could not be contacted for comment. Babcock, now chaired by Ruth Cairnie, declined to comment.
The hunt for Boatman intensified in May after it issued another report, accusing the FTSE 250 firm of “underperformance and overcomplexity”. That report centred on Babcock’s military vehicles division, but did not hit the share price as hard.
The email address behind Boatman was initially traced to a company in Panama. There were various theories about the people involved, ranging from short-sellers — which profit from declines in a company’s share price — to the Russian state.
Babcock’s shares have bounced back strongly since the summer, rising more than 40%. They closed on Friday at 606.8p, valuing the business at about £3.1bn.
(Source: The Sunday Times)
The report claimed the company had “systematically misled investors by burying bad news about its performance”, and called for the departures of chief executive Archie Bethel and then chairman Mike Turner.
The 23-page attack wiped more than 5%, or £130m, from the company’s market value. Babcock published a rebuttal, claiming the report contained “many false and malicious statements”.
The board hired the investigative firm Kroll to trace the author. It is believed to have identified David Robertson, a former journalist at The Times who worked at the corporate intelligence firm K2 and now runs his own company.
Babcock is believed to have written to Robertson, 46, warning him to cease and desist, but is not thought to be taking further action.
Robertson, whose outfit, Thirteen Research, conducts corporate investigations, could not be contacted for comment. Babcock, now chaired by Ruth Cairnie, declined to comment.
The hunt for Boatman intensified in May after it issued another report, accusing the FTSE 250 firm of “underperformance and overcomplexity”. That report centred on Babcock’s military vehicles division, but did not hit the share price as hard.
The email address behind Boatman was initially traced to a company in Panama. There were various theories about the people involved, ranging from short-sellers — which profit from declines in a company’s share price — to the Russian state.
Babcock’s shares have bounced back strongly since the summer, rising more than 40%. They closed on Friday at 606.8p, valuing the business at about £3.1bn.
- The Ministry of Defence has spent £7bn so far on its new class of Dreadnought submarine, which will be armed with nuclear missiles. FTSE 100 defence giant BAE Systems is building the submarines at Barrow-in-Furness, Cumbria, to replace the Royal Navy’s ageing Vanguard-class vessels, and says they will begin going into service in the early 2030s.
(Source: The Sunday Times)
Samus
Top 20
Boatman?
THIRTEEN RESEARCH LTD
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DirectorDate of birthJuly 1973
Appointed on12 March 2018
Nationality British
Country of residence United Kingdom
Occupation Director
THIRTEEN RESEARCH LTD
Company number 11250953
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ROBERTSON, David Edward
Correspondence address64 New Cavendish Street, London, United Kingdom, W1G 8TBRole ACTIVE
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Fletch77
Regular
Excellent find there Sammael
Wonder if there will be aome sort of update next week or we will be left in the dark!
Although we are majority holders in Dathcom whats the chances the chinese want it to stay that way!? Its a shit situation all round, Drc corruption, chinese influence and in relation to the decree it definitely should have been scrutinized before being released to the world, thats shot us in the foot for sure.
But here's hoping there's some way around all this bollocks!! ffs
Farken
Although we are majority holders in Dathcom whats the chances the chinese want it to stay that way!? Its a shit situation all round, Drc corruption, chinese influence and in relation to the decree it definitely should have been scrutinized before being released to the world, thats shot us in the foot for sure.
But here's hoping there's some way around all this bollocks!! ffs
Farken
Sorry if I'm changing topic, first post!
An awsome article popped up on my news!!!!
Since gone.
"Under Bill & Billinda Gates foundation"
Directly related too the "our" Manono project.
Pro Avz in a non political way.
Big deal as these people have clout.
Let's go. Find it?
I'm just a broke down industrial sparky.
An awsome article popped up on my news!!!!
Since gone.
"Under Bill & Billinda Gates foundation"
Directly related too the "our" Manono project.
Pro Avz in a non political way.
Big deal as these people have clout.
Let's go. Find it?
I'm just a broke down industrial sparky.
That's a disgraceful insinuation and should be withdrawn. What the hell is up with you, sheesh.
Samus
Top 20
#MANONO and the #Tanganyika swear by
@AvzMinerals
and want the government to grant the EP obtained thanks to the efforts of
@MariusMihigo
to the Australians
Manono #Lithoum The population, customary chiefs and civil society demand the granting of the Exploitation License to
@AvzMinerals
obtained by the diplomacy of
@MariusMihigo
. "WE WANT THE DEVELOPMENT OF #TANGANYIKA WITH $AVZ
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