AVZ Discussion 2022

[Azzler]

"The Company is confident of a positive outcome in relation to the award of the Mining Licence pending resolution of the ICC arbitrations (refer above Cominière and Zijin Mining / Jin Cheng Dispute and Dathomir Dispute below Note 9 Contingencies)."

Hiya gang,
What do y'all think of the possability that there was meant to be a comma, or a "and the" after the word Licence in the above statement?
Meaning they are confident of a posititve outcome for the mining licence AND a positive outcome for the pending ICC cases?
We've seen piss poor proof reading in the past.

I can't imagine they would think it appropriate to communicate in this half ass half hidden manner if it were true that they became aware that there is no ML before the two ICC cases are resolved.
That would be in no way appropriate to shareholders.
I can't imagine the MoM would be ok to wait 18 more months for the resolution.

Hope the company clarifies this soon.

 

[Roon]

"The Company is confident of a positive outcome in relation to the award of the Mining Licence pending resolution of the ICC arbitrations (refer above Cominière and Zijin Mining / Jin Cheng Dispute and Dathomir Dispute below Note 9 Contingencies)."

Hiya gang,
What do y'all think of the possability that there was meant to be a comma, or a "and the" after the word Licence in the above statement?
Meaning they are confident of a posititve outcome for the mining licence AND a positive outcome for the pending ICC cases?
We've seen piss poor proof reading in the past.

I can't imagine they would think it appropriate to communicate in this half ass half hidden manner if it were true that they became aware that there is no ML before the two ICC cases are resolved.
That would be in no way appropriate to shareholders.
I can't imagine the MoM would be ok to wait 18 more months for the resolution.

Hope the company clarifies this soon.

To date I have held off any communication with management because I don't want to waste their time, which is no doubt flat out and better spent trying to unfuck our mess than respond to panicking shareholders. However in this instance I have requested clarification of this point mentioned below, which stands in contradiction to previous company reporting and if not in error or mistranslation opens up major sovereign risk implications:

"The Company is confident of a positive outcome in relation to the award of the Mining Licence pending resolution of the ICC arbitrations (refer above Cominière and Zijin Mining / Jin Cheng Dispute and Dathomir Dispute below Note 9 Contingencies

I suspect (and hope) that there may be a simple explanation and the issuance of the ML is not in fact dependent on the resolution of ICC cases as stated in the report, but should I receive clarification of this point I shall revert with the supplied information to the TSE hive mind

 

[JAG]

To date I have held off any communication with management because I don't want to waste their time, which is no doubt flat out and better spent trying to unfuck our mess than respond to panicking shareholders. However in this instance I have requested clarification of this point mentioned below, which stands in contradiction to previous company reporting and if not in error or mistranslation opens up major sovereign risk implications:

"The Company is confident of a positive outcome in relation to the award of the Mining Licence pending resolution of the ICC arbitrations (refer above Cominière and Zijin Mining / Jin Cheng Dispute and Dathomir Dispute below Note 9 Contingencies

I suspect (and hope) that there may be a simple explanation and the issuance of the ML is not in fact dependent on the resolution of ICC cases as stated in the report, but should I receive clarification of this point I shall revert with the supplied information to the TSE hive mind

Nice one Roon. At the last RS Nigel categorically stated resuming trading would occur once the ML was received and had nothing to do with the court cases, so this now appears to be a change?

 

[Sparrowhawk12]

Tommy Shite-head still at it

AVZ reveals cash outflows, legal disputes balloon

The suspended explorer said it thinks it can get a mining licence on resolution of multiple legal disputes and the financial backing it needs.

www.afr.com

 

[Xerof]

Tom Richardson
Markets reporter and commentator
Mar 17, 2023 – 2.21pm

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Suspended lithium explorer AVZ Minerals has insisted that a deal to raise $US240 million ($360 million) from a private Chinese investor remains live, despite having its mining licence cancelled by the Democratic Republic of Congo (DRC) government last month.
The Perth-headquartered explorer disclosed its accounts late on Thursday evening, with a cash burn of $24.5 million over the six months to December 31 and cash on hand of $36.6 million as at the period end. It spent $18.9 million on exploration and development costs over the period, with $6 million paid to suppliers and employees.
AVZ said the completion date for the $US240 million investment from Chinese backer Suzhou CATH Energy Technologies in exchange for a 24 per cent stake in the Manono project has been extended from February 28 to March 31.
AVZ says it still has good legal title to 75 per cent of the Manono Project, which is thought to be the world’s largest hard rock lithium deposit.

The location of the Manono project in the south-east of the DRC. Ownership rights to what could be the world’s largest untapped hard rock lithium deposit are under dispute. AVZ Minerals
Legal fights
The explorer also flagged upcoming legal hearings versus rival Chinese group Zijin Mining and a DRC entity named Dathomir Resources at Paris’s International Chamber of Commerce (ICC) in a ballooning fight for control of the deposit.
It has rejected Zijin Mining’s claim that it legally acquired a 15 per cent stake from a DRC government entity in November 2021 and Dathomir’s claims it terminated AVZ’s rights to a separate 15 per cent ownership stake in May 2021.
In the half-year report AVZ said it was confident it would obtain a mining licence pending resolution of the ICC disputes.
On June 1, AVZ agreed to pay a Congo middleman named Marius Mihigo $US1 million in cash to help it secure a DRC mining license.
Last April, AVZ raced to a $4.6 billion valuation and joined the benchmark S&P/ASX 200 Index before retreating to a $2.6 billion market cap in May when it entered an ongoing trading halt and first admitted its ownership interests to the Manono Project had been challenged in the DRC courts in 2021.
The under the pump explorer now faces a class action funded by Omni Bridgeway that alleges it failed to adequately disclose information when making positive statements about its ownership of Manono, and engaged in conduct that was misleading or deceptive. AVZ is defending these claims and the action.
AVZ’s management team again blamed its problems on a “hostile misinformation campaign” it says is attempting to diminish its credibility and that of the company.

 

[Winenut]

"The Company is confident of a positive outcome in relation to the award of the Mining Licence pending resolution of the ICC arbitrations (refer above Cominière and Zijin Mining / Jin Cheng Dispute and Dathomir Dispute below Note 9 Contingencies)."

Hiya gang,
What do y'all think of the possability that there was meant to be a comma, or a "and the" after the word Licence in the above statement?
Meaning they are confident of a posititve outcome for the mining licence AND a positive outcome for the pending ICC cases?
We've seen piss poor proof reading in the past.

I can't imagine they would think it appropriate to communicate in this half ass half hidden manner if it were true that they became aware that there is no ML before the two ICC cases are resolved.
That would be in no way appropriate to shareholders.
I can't imagine the MoM would be ok to wait 18 more months for the resolution.

Hope the company clarifies this soon.

It was a very good pick up there Azz

 

[MoneyBags1348]

Tom Richardson
Markets reporter and commentator
Mar 17, 2023 – 2.21pm

Save

Share
Suspended lithium explorer AVZ Minerals has insisted that a deal to raise $US240 million ($360 million) from a private Chinese investor remains live, despite having its mining licence cancelled by the Democratic Republic of Congo (DRC) government last month.
The Perth-headquartered explorer disclosed its accounts late on Thursday evening, with a cash burn of $24.5 million over the six months to December 31 and cash on hand of $36.6 million as at the period end. It spent $18.9 million on exploration and development costs over the period, with $6 million paid to suppliers and employees.
AVZ said the completion date for the $US240 million investment from Chinese backer Suzhou CATH Energy Technologies in exchange for a 24 per cent stake in the Manono project has been extended from February 28 to March 31.
AVZ says it still has good legal title to 75 per cent of the Manono Project, which is thought to be the world’s largest hard rock lithium deposit.

The location of the Manono project in the south-east of the DRC. Ownership rights to what could be the world’s largest untapped hard rock lithium deposit are under dispute. AVZ Minerals
Legal fights
The explorer also flagged upcoming legal hearings versus rival Chinese group Zijin Mining and a DRC entity named Dathomir Resources at Paris’s International Chamber of Commerce (ICC) in a ballooning fight for control of the deposit.
It has rejected Zijin Mining’s claim that it legally acquired a 15 per cent stake from a DRC government entity in November 2021 and Dathomir’s claims it terminated AVZ’s rights to a separate 15 per cent ownership stake in May 2021.
In the half-year report AVZ said it was confident it would obtain a mining licence pending resolution of the ICC disputes.
On June 1, AVZ agreed to pay a Congo middleman named Marius Mihigo $US1 million in cash to help it secure a DRC mining license.
Last April, AVZ raced to a $4.6 billion valuation and joined the benchmark S&P/ASX 200 Index before retreating to a $2.6 billion market cap in May when it entered an ongoing trading halt and first admitted its ownership interests to the Manono Project had been challenged in the DRC courts in 2021.
The under the pump explorer now faces a class action funded by Omni Bridgeway that alleges it failed to adequately disclose information when making positive statements about its ownership of Manono, and engaged in conduct that was misleading or deceptive. AVZ is defending these claims and the action.
AVZ’s management team again blamed its problems on a “hostile misinformation campaign” it says is attempting to diminish its credibility and that of the company.

tommy is already looking at facing misinformation law suits from Marius Mahigo and AVZ including a number of deceptive articles while he hides behind the AFR

As far as Omni Bridgeway…. A DUD company, have a look at their share price over the last 5 years, talk about a desperate companion

 

[Winenut]

Tom Richardson
Markets reporter and commentator
Mar 17, 2023 – 2.21pm

Save

Share
Suspended lithium explorer AVZ Minerals has insisted that a deal to raise $US240 million ($360 million) from a private Chinese investor remains live, despite having its mining licence cancelled by the Democratic Republic of Congo (DRC) government last month.
The Perth-headquartered explorer disclosed its accounts late on Thursday evening, with a cash burn of $24.5 million over the six months to December 31 and cash on hand of $36.6 million as at the period end. It spent $18.9 million on exploration and development costs over the period, with $6 million paid to suppliers and employees.
AVZ said the completion date for the $US240 million investment from Chinese backer Suzhou CATH Energy Technologies in exchange for a 24 per cent stake in the Manono project has been extended from February 28 to March 31.
AVZ says it still has good legal title to 75 per cent of the Manono Project, which is thought to be the world’s largest hard rock lithium deposit.

The location of the Manono project in the south-east of the DRC. Ownership rights to what could be the world’s largest untapped hard rock lithium deposit are under dispute. AVZ Minerals
Legal fights
The explorer also flagged upcoming legal hearings versus rival Chinese group Zijin Mining and a DRC entity named Dathomir Resources at Paris’s International Chamber of Commerce (ICC) in a ballooning fight for control of the deposit.
It has rejected Zijin Mining’s claim that it legally acquired a 15 per cent stake from a DRC government entity in November 2021 and Dathomir’s claims it terminated AVZ’s rights to a separate 15 per cent ownership stake in May 2021.
In the half-year report AVZ said it was confident it would obtain a mining licence pending resolution of the ICC disputes.
On June 1, AVZ agreed to pay a Congo middleman named Marius Mihigo $US1 million in cash to help it secure a DRC mining license.
Last April, AVZ raced to a $4.6 billion valuation and joined the benchmark S&P/ASX 200 Index before retreating to a $2.6 billion market cap in May when it entered an ongoing trading halt and first admitted its ownership interests to the Manono Project had been challenged in the DRC courts in 2021.
The under the pump explorer now faces a class action funded by Omni Bridgeway that alleges it failed to adequately disclose information when making positive statements about its ownership of Manono, and engaged in conduct that was misleading or deceptive. AVZ is defending these claims and the action.
AVZ’s management team again blamed its problems on a “hostile misinformation campaign” it says is attempting to diminish its credibility and that of the company.

From the article

"The under the pump explorer now faces a class action funded by Omni Bridgeway"

Tommy Richardhead has stated the above as a fact

I thought the situation (as per @obe wan ) was that applications to particpate in the class action didn't close until 31st March 2023 and that a class action would only proceed if enough signed up

From Omni's own page they note that the class action has not yet been confirmed as it "is funding or will fund potential claims"

So it is not a fact that AVZ "now faces a class action funded by Omni Bridgeway"

Tommy is spreading lies and mis-truths again through the AFR

 

[MoneyBags1348]

From the article

"The under the pump explorer now faces a class action funded by Omni Bridgeway"

Tommy Richardhead has stated the above as a fact

I thought the situation (as per @obe wan ) was that applications to particpate in the class action didn't close until 31st March 2023 and that a class action would only proceed if enough signed up

From Omni's own page they note that the class action has not yet been confirmed as it "is funding or will fund potential claims"
View attachment 32438

So it is not a fact that AVZ "now faces a class action funded by Omni Bridgeway"

Tommy is spreading lies and mis-truths again through the AFR

More deceptive information from tommy

I don’t know how anyone could live with someone who spends his time insinuating lies and bragging about spending nights at the Casino…. I wonder if his family know how many people’s lives he is destroying with his deceptive and misleading articles

Remember this one

 

[Birdman7]

From the article

"The under the pump explorer now faces a class action funded by Omni Bridgeway"

Tommy Richardhead has stated the above as a fact

I thought the situation (as per @obe wan ) was that applications to particpate in the class action didn't close until 31st March 2023 and that a class action would only proceed if enough signed up

From Omni's own page they note that the class action has not yet been confirmed as it "is funding or will fund potential claims"
View attachment 32438

So it is not a fact that AVZ "now faces a class action funded by Omni Bridgeway"

Tommy is spreading lies and mis-truths again through the AFR

Winenut, I honestly do not know what journalism students have been or are being taught at University these days. Accurate and verified/verifiable research as well as source credibility does not appear a priority!

It is hardly surprising that Paul Keating and others of his generation go ballistic at reporters when ever the opportunity presents. (eg Keating National Press Club interview Tuesday last)

Continued good luck to all Shareholders.

 

[Winenut]

I couldn't help myself

Tommy is gutter trash

Sent this to the AFR Ed

Fuck 'em

 

[Mr Inappropriate]

Legit question.

How long before people start calling Felix out as corrupt for putting up with corruption in his government?

Im not sure that calling him corrupt would help our cause. I‘d rather we steer clear of that.

 

[wombat74]

"The Company is confident of a positive outcome in relation to the award of the Mining Licence pending resolution of the ICC arbitrations (refer above Cominière and Zijin Mining / Jin Cheng Dispute and Dathomir Dispute below Note 9 Contingencies)."

Hiya gang,
What do y'all think of the possability that there was meant to be a comma, or a "and the" after the word Licence in the above statement?
Meaning they are confident of a posititve outcome for the mining licence AND a positive outcome for the pending ICC cases?
We've seen piss poor proof reading in the past.

I can't imagine they would think it appropriate to communicate in this half ass half hidden manner if it were true that they became aware that there is no ML before the two ICC cases are resolved.
That would be in no way appropriate to shareholders.
I can't imagine the MoM would be ok to wait 18 more months for the resolution.

Hope the company clarifies this soon.

I'm with you Azzler . It must be a mistake with the wording . Otherwise it means Management have been lying to shareholders up to this point . When you think about , it makes no sense . This will not be allowed to drag on until Sept 24 and beyond for a number of reasons we are all aware of .

 

[Sammy_da_Smile]

New TV interview popped up a couple of hours ago with Serge. I'm going to check it out now.

 

[Remark]

Nice bag you got there Princess...

 

[BRICK]

Nice bag you got there Princess...

View attachment 32450

HAHAH A FUCKING SNACK BAG!

 

[JAG]

New TV interview popped up a couple of hours ago with Serge. I'm going to check it out now.

Good to see they are using my picture I sent to Kikki

 

[tonster66]

Not meaning to deflect your question, but that Dathomir bank statement posted by Carlos only shows the reversal of the 20M out of the bank account - the incoming deposit appears to be redacted.


Having Dathomir bank statement is a coup
the only person I know of who claims to have corresponded with Cong is der Giest. Just saying

Yep the same person also stated that cong had returned the money to AVZ, however the terms of the contract of sale had been completed eg. AVZ had fulfilled their requirements to purchase the additional shares. I was informed that the money that cong returned is sitting in a separate account. At the time of the AGM it was still in that account

 

[Samus]

Yep the same person also stated that cong had returned the money to AVZ, however the terms of the contract of sale had been completed eg. AVZ had fulfilled their requirements to purchase the additional shares. I was informed that the money that cong returned is sitting in a separate account. At the time of the AGM it was still in that account

By my recollection at the roadshow Nigel explained it that the money had been put into Escrow (as per the contract) but not withdrawn by Cong.

 

[tonster66]

By my recollection at the roadshow Nigel explained it that the money had been put into Escrow (as per the contract) but not withdrawn by Cong.

I can only state what I was told and he was very emphatic about it. I had no cause to no believe him.