obe wan
Regular
Good old Dathomir trying to hot pan out of ICC ; not liking it is say; even trying to get out under lack of jurisdiction.
Award of ML not dependent on these ICC cases in any case
AVZ Discussion 2022
- Thread starter GazDix
- Start date
Award of ML not dependent on these ICC cases in any case
Frank
Top 20
Totally agree Spike, I’ve removed the posts…. We’ve got plenty on them, it’s just a matter of keeping it in the headlines
To be honest, I’m think Tshisekedi is more worried about what the people getting slaughtered in the north east of the country think of him, and so he should be in my opinion…. but if he’s not going to show support for AVZ after all the work we’ve done and all the corruption we’ve faced, then I suppose he is leaving himself open for criticism.
As @BEISHA has said many times, he ran on a platform of anti-corruption. I know he’s given Jules the power to investigate corruption through commissions and the Director General and Technical Director of Cominiere have been charged with fraud so there’s nothing stopping him from telling the Chinese to fuck off….
Begs the question whether they have something on him, or his family are somehow involved…. Either way he’s not doing himself any favours and before long people in the DRC might start wondering if he’s the man for job
Chinese contract: 4 organizations whose ODEP and ACAJ support the IGF report and announce judicial actions for justice to be done
The Observatory of Public Expenditure (ODEP), the Congolese Association for Access to Justice (ACAJ), the African Human Rights Defense Association (ASADHO) and the Economic Governance and Democracy network (REGED ) read, this Wednesday, March 1, a joint declaration relating to the report of the General Inspectorate of Finance on the Chinese contract.
Signed in 2008 between the DRC and a group of Chinese companies, this contract on which the Sicomines was born (companies held 68% by the companies of China and 32% by the Gecamines) contains, in its terms, the Commitment of the Congolese State to provide the deposits and the other party, financial means for the exploitation of mines.
This, with the obligation for Chinese companies to raise funds for infrastructure in the DRC.
The 4 civil society organizations, aligning behind the IGF report, regret that in 15 years since the signing of this convention, the DRC has lost tens of billions without any visible infrastructure results.
While criticizing the complacency with which the public authorities have negotiated this convention, these structures, according to the declaration read by Professor Florimond Muteba of the ACAJ, say also "that the Chinese party has won at least more than five times income Hoped to start the project, without any consideration up to the profits garnered ”.
ODEP, ACAJ, ASADHO and REGED call the President of the Republic, but also the Government as well as courts not to leave the economic crimes committed in the context of this convention.
For these structures, it would also be necessary to "undertake the revisation of this contract taking into account the damage and losses suffered by the DRC, failing to suspend and even cancel this agreement, or even nationalize the Sicomines".
“Apart from this press point, we will work on legal actions.
In the coming days, we, civil society organizations, together with the Congolese, we will take care of, challenge national and international judicial institutions.
Anyone who has any responsibility in this debacle will be cited and made available to justice, "said Maître Georges Kapiamba, president of the ACAJ.
In addition, they denounce all the harsh criticisms against the IGF after the publication of this report.
Civil society, like Congolese citizens in general, must support and encourage the IGF, they said.
mediacongo
Spikerama
Regular
Never mind folks. Life could be worse.
Imagine being an egg.
Get laid once.
Get smashed once.
And the only bird to sit on your face is your mum.
AVZI remains of the view that it will be successful in the Dathomir proceedings. An award in both proceedings is unlikely to occur before September 2024.
I think we need to pay attention to the word award, as we are seeking to recover losses sustained from Dathomir. How much are we claiming? If it’s significant then I wouldn’t be surprised if it will not occur before September 2024.
First Quantum launched ICC arbitration in Feb 2010, and only reached $1.2billion settlement in Jan 2012.
I think we need to pay attention to the word award, as we are seeking to recover losses sustained from Dathomir. How much are we claiming? If it’s significant then I wouldn’t be surprised if it will not occur before September 2024.
First Quantum launched ICC arbitration in Feb 2010, and only reached $1.2billion settlement in Jan 2012.
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Mate imo the head hanging should be mostly worn by the coaches. What's with the stupid fucking sign.
Carlos Danger
Top 20
From page 7 -
‘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).’
Doesn’t the bold print (which I did to highlight) above contradict what you and the company has been previously saying Obe ? - ‘award of ML not dependent on these ICC cases in any case’
I’m reading it as ML IS dependent on the resolution of the ICC arbitrations….so if they are not resolved the ML won’t be awarded
Why is the company contradicting itself…….
Sorry I was slow in typing my reply, didn't realise you mentioned the same thing Carlos
Carlos Danger
Top 20
Both proceedings refers to the 2 separate claims at the ICC against Dathomir by AVZ for the 5% and 10% purchases of Dathcom in 2021
Cong is trying to get out of the ICC on jurisdiction because he knows he will lose both cases and be liable for damages to AVZ. If he loses his jurisdiction claim then he will finally fulfil his contractual obligations to transfer the total 15% of Dathcom to AVZ so he can avoid having to pay us compensation and this will all be over well before September 2024 imo
So effectively, why the hell are we spending any money whatsoever on drilling and building Camp Collins while we are in limbo for a year and a half? On top of the near year we’ve been in suspension already. Yikes. Senior staff should take a pay cut to help lessen the stress on company financials as well. Their performance rights more than make up for any loss of income.
Exactly mate but no just negative thinking aparently. Who spends money on construction accommodation and drilling on something they don't fully own. Ho shit negative. Management needs to tell us. Its our money ffs. Its not that hard to grasp. Is that negative? Not sure but the cops will sort it.
Na mate got an atm for 50m apparently. Now that was 100% negative.
YesThankfully the AVZ situation in the DRC is not as dire as the outcome of the opening round of the AFL.....
Totally agree, the only thing that worries me regarding the ICC is that the case can be potentially delayed/adjourned as a result of ridiculous counter claims/excuses by Cong…..
Dragging it out as long as possible with Congs desired effect being 2 fold -
1. the DRC state getting fed up of the delay - ie. this was eluded to as the excuse in the decrees - ‘dathcom shareholders not getting along’….
2. The longer this drags on Cong is hoping AVZ will run out of money
That’s exactly Congs game plan IMO
I’ve just seen ICC cases in the past drag on for years - hope the ICC arbitrators will play hard ball and see through the games
P.S the above could be just my paranoid/poker brain kicking into overdrive and over analysing the hand Cong is playing
AVZI submitted its Reply on Jurisdiction on 10 March 2023. Jin Cheng will submit a rejoinder on jurisdiction on 22 March 2023, and the hearing on jurisdiction will take place on 19 - 20 April 2023.
AVZI remains of the view that its jurisdictional challenge will be successful; an award on jurisdiction can reasonably be expected to be handed down mid-2023.
It should be noted that this does not finally determine whether the sale of shares from Cominière to Jin Cheng was effective, which will remain to be determined in separate proceedings.
Hi Carlos, your thoughts on the above two points?
Carlos Danger
Top 20
Yeah I've been trying to work out what management's game plan is regarding how we will get the 15% transfer from Cominiere to Jin Cheng reversed so we can exercise our FROR. Basically the ICC case brought by Zijin is to force AVZ to recognise them in Dathcom not whether the 15% transfer was illegal.
AVZ is saying that the ICC isn't the correct jurisdiction for this hearing. I assume that was originally because we had already lodged the case in the DRC that would test the legality of the transfer therefore the ICC case is legally redundant.
But now we have also dropped the case within the DRC because it was taking too long. So I'm unsure what legal avenue management plan to use to enforce our rights. My guess is a higher court in the DRC but that will take time.
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Thunderpony
27 µg per 100 mL
*reaches for bong*
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