AVZ Discussion 2022
- Thread starter GazDix
- Start date
Frank
Top 20
*To Remind,
Gong Qingguo and his legion had better watch out, while at the Presidency, at Finance, at the IGF as well as the DGI and the DGRAD, the reaction was unanimous: "Chinese companies must stop behaving as licensed fraudsters and comply with the Laws of the country".
Food for thought
Frank
They haven't actually denied it.
Typical China. Just try and redirect attention with a bunch of anxious hand-waving
Bin59
Regular
@ALINGETEJULES_K , thank you ! For the work that @IgfRdc does under your leadership. Starting with case $AVZ , #SICOMINES , etc., there are so many Congolese who are inspired by your work, and hoping that @AssembleeN_RDC gives you the power of anticipatory arrest.
JAG
Top 20
I recall Nigel saying something along the lines that the shares have already been allocated for the ATM facility (in escrow maybe??) so the company will be able to accress the 50 mil even if we are not trading.
I also recall Nigel saying that in 3 mths time (post RS) if there is no ML the company will start cost cutting to conserve cash flow….. it’s been over 4mths now and nothing hasn’t been announced (hoping this is happening behind the scenes).
Others who were at the Brissy RS might confirm the above
Mr Inappropriate
Regular
Two things:
1. What a steaming pile of rancid word-salad this is:
“They are willing to take effective measures to further develop mutually beneficial and win-win cooperation, to make a tangible and tangible contribution to economic development and to improving the business climate of the DRC.”
What effective measures? Quitting their graft and corruption? Paying their dues? Obeying the law?
2. I notice that they don’t address the substance of the accusations and offer only platitudes and vaguely threatening words.
What a bunch of arseholes.
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At Sydney RS Nigel mentioned that they’d be doing a financial audit every 3 months if still in suspension and then take cost cutting measures as needed.
I thought along the same lines, it would have been smarter for Cong to keep his mouth shut, not a very diplomatic effort.
It would have been smarter to do a deal and produce what was promised, because that is what the DRC is after.
Yes that's what I heard.
Cutting costs I think means no more drilling after this batch is done . So naturally from April the expenditure will be cut .It's not coming from salary sacrifice or flying cattle class . Nigel is cunning with his words . The RS/ AGM was a master class.
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But that is reflective of an arrogant twat who's used to getting/ bullying his own way.
Happy for Cong to continue this shite because it will only rile the Congolese.
John25
Regular
Really …Honestly …how long do we have to put up with this shyte …First we have dont abuse Felix then a weeks amnesty…Elections coming up ,FFS someone from our Leadership team or MM go on the front foot & say you want evidence of corruption …how far you want to dig “How many ministers do you want too loose “FFS it should be gloves go off with this indecisive prick .He’s up too his neck in this 10+ months now ,the only losers are us SH’s some with literally $millions tied up ….Another day of SFA…Had a bad day at work …can you tell …Should’nt be ***** working
Winenut
Go AVZ!
Think about it this way , within the next 4 to 6 weeks you are going to know if you've done your doe or not . IMO
Winenut
Go AVZ!
D
Deleted member 1612
Guest
Frank
Top 20
Market: fall in the prices of the main minerals exported by the DRC
The prices of the main raw materials exported by the Democratic Republic of Congo have generally fallen on the international market, indicates the Central Bank of Congo.
Copper fell 2.1% to $8,805.9 per ton.
The price of cobalt continued its downward trend during the four consecutive weeks of the current month of February.
It is established at 33,760.00 USD per ton, a decrease of 4.3%.
In monthly footfall, the two major commodities fell 6.0% and 30.5% respectively.
According to the Ministry of Mines, the Democratic Republic of Congo produced a total of 2,515,846.74 tonnes of copper and 115,371.31 tonnes of cobalt in 2022.
Since 2020, copper exports have increased by 14.4% to reach a level of more than 10 billion USD, or 68.3% of total exports.
This increase reflects the simultaneous effect of the increase in prices on international markets.
This drop in prices is bad business for the DRC.
China to increase control over global cobalt supply — report
China is poised to increase its control over the global cobalt supply, according to a report by Darton Commodities, a UK-based cobalt trader.
Over the next two years, China’s share of cobalt production is expected to reach half of global output, up from 44% at present, Darton said.
Chinese refining activity reached 140,000 tonnes in 2022, giving the country a 77% global share of refining capacity.
The price of the metal hit a 32-month low this month amid a surge in production.
Global mine production grew 42% between 2020 and 2022 as covid-19 related supply chain constraints eased, existing operations ramped up and several new mines were commissioned.
Glencore Plc was by far the world’s largest cobalt miner last year, mainly from its two operations in Congo.
Eurasian Resources Group and China’s CMOC Group Ltd., which also have large Congo operations, followed the Swiss company as the biggest producers.
Global supplies are expected to surge to around 210,000 tonnes this year, up 24% from 2022, while demand is forecast to rise 8% to 205,000 tonnes, according to the report.
Liberum analyst Tom Price told Reuters that prices are expected to average $54,840 a tonne this year and $50,320 in 2024, compared with $63,739 last year.
“A lot of things converged at the same time to push the market down: the relaxation of logistics issues, weak consumer electronic sales and a technology shift towards lower or no cobalt EV batteries,” Caspar Rawles, chief data officer at Benchmark Mineral Intelligence, told the Financial Times.
Cobalt prices could fall further if Tenke Fungurume, the world’s second-largest cobalt mine owned by CMOC, is allowed to resume exports from the DRC after a tax dispute led to an export ban last July.
The company has kept producing despite the ban, stockpiling 10,000 to 12,000 tonnes of the metal.
mining.com
In 2006, batteries accounted for 26pc of lithium demand.
By 2026 it will be 90pc
As the main component of lithium-ion batteries used in electric vehicles and stationary battery systems, lithium is considered the backbone of most green energy technologies.Until the next technological advances are achieved, the light metal will be the driving force behind the ‘battery era’ over the next decade.
According to Benchmark Mineral Intelligence the battery industry is set to extend its dominance of the lithium market to such a point that by 2026 it will account for 90% of demand.
In a matter of twenty years, the astronomical growth in electric vehicle adoption has seen the battery industry grow from a relatively small consumer to become the markets primary driver.
And the race to secure supplies is far from over yet.
UBS says China’s efforts to increase uptake could see it account for nearly a third of the world’s supply by the middle of the decade.
The bank expects Chinese-controlled mines, including projects in Africa, to raise output to 705,000t by 2025, from 194,000t in 2022.
mining.com
*This drop in prices is bad business for the DRC.
*Don't forget the Tin you DRC Turkey's $$$$$$$$$$$$$$$$
Food for thought Felix
Frank
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Mr Inappropriate
Regular
These numbers make me happy. If.only.someone.would.grant.the.fucking.mining.lease…
Edit: This 9% to CATH thing seems to come up a bit. Something to it?
Edit: This 9% to CATH thing seems to come up a bit. Something to it?
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