AVZ Discussion 2022

[Roon]

That bank statement shows Dathomir received payment of 20m USD from AVZ for the 15% of Dathcom (5m for initial 5% and 15m for the other 10%) between the 16th and 25th of August 2021. Not sure why the transaction from AVZ is redacted but the balance ledger shows the funds are deposited. I got the statement from the Christian Lukusa interview in September.

Cong's argument as to why the transactions with AVZ are incomplete is that he cancelled the two binding Share Sale Purchase Agreements that he signed in June 2019 and September 2020 before he received the final payment. Which is absolute fucking nonsense. The statement proves AVZ completed their obligations for the contracts within the 36 and 12 month respective time limits. The ICC are going to lay the smack down on this clown if it actually gets that far imo

View attachment 32415

Yes, Cong's argument was that he cancelled the agreement in May 2021, after he had received the initial 500k USD advance but before AVZ sent the final payment in Aug 2021. Not sure what if any provisions there were in the agreement regarding cancellation after the advance was paid, but it seems either there weren't any or AVZ feels they weren't followed, as it went ahead with the payments as outlined in the contract and within the mandated time period. I'd like to see the contract clauses, but my feeling is we should be solid on the Dathomir case.

 

[Doc]

Maybe a stupid question . If we hold an undisputed 60% and have the financial backing , why can't they issue us with the ML ? MoM has declared the Manono Project a matter of urgency .

Because rest assured they doing their best to fuck over our ‘undisputed’ 60%

 

[Xerof]

Don’t tell me you are still one of his biggest fans X

Look, I'm just a retired nun, living in the back-blocks of NZ. I have no idea who this dude is, although plenty on here don't rate him. So be it.

All I know is he was on to the irregularities of Dathomir and Zijin MONTHS before the company finally declared their 'spurious and of no merit' statements.

I did sell a few on the basis of his research, because I found it to be credible. I wish I'd sold the fucking lot. Oops, 3 Hail Mary's

 

[Winenut]

Who got smashed? .......

Each and every Blues and Tigers supporter......

 

[Misfits]

A good post by Combaste on HC


17/03/2311:54:04Post #:66821344

Dear investors, dear Dom74.
First of all I would like to thank the AVZ team for the report, which wonderfully shows the legal situation of the parties involved.
@ Dom74 your statement is unfortunately also wrong! I want to explain why.
One has to be absolutely correct/abstract about law and order to understand the situation correctly.

let's get started:

1. AVZ vs. Dathomir
AVZ currently owns 75%!
Why?
60% are safe because Cominiere and Dathomir have waived any rights in the joint venture agreement and at the same time are participants in the same joint venture. This is not contestable!
15% bought AVZ from Dathomir and are legally transferred. AVZ owns the shares! Dathomir revoked this in writing to AVZ without going to court.
AVZ has gone on the offensive and has applied to the ICC for legal confirmation so that this can no longer be contested in the future.
Nevertheless, AVZ is the legal owner of this 15%. Also until 09.2024!
It is very unlikely that Dathomir will get the 15% back. Why? With what reason? It's just a stalling tactic and they want more money.
This can run alongside further development and would not interfere, since AVZ owns it.

2. Cominière vs. Zijin Mining / Jin Cheng
I have to quote the text from the report exactly!
"Through its wholly-owned subsidiaries, AVZ has at all material times held a right of first refusal over 15% of shares in Dathcom (noting that Cominière holds a 25% interest in Dathcom to which this right of first refusal applies and Cominière must cede 10% out of its 25% interest to the DRC Government as a condition of the award of the Mining Licence for the Manono Project).On 10 September 2021, Cominière purported to conclude a Share Transfer Agreement with Jin Cheng for 15% of the shares in Dathcom. This purported sale and transfer breached AVZ’s right of first refusal, is null and void under DRC law and has not been recognised by Dathcom.Jin Cheng filed an International Chamber of Commerce arbitration claim in Paris in May 2022 against AVZ citing “an abuse of majority” and based on the arbitration clause provided in Dathcom’s Articles of Association is seeking to be recognised as a minority shareholder of Dathcom.AVZ is seeking the dismissal of Jin Cheng’s claims by the ICC’s sole arbitrator as Jin Cheng does not have the capacity to rely on the arbitration clause agreement provided by Dathcom’s Articles of Association, to which Jin Cheng is not a party.AVZ successfully obtained the bifurcation of the arbitration so the arbitrator will rule first on AVZ’s challenge of Jin Cheng’s capacity to rely on the arbitration agreement.AVZ considers it has a strong legal standing in these matters and prospects of success."

AVZ successfully split the proceedings before the ICC into two consecutive proceedings!
1. Court decision:
Can Jin Cheng even file a majority abuse lawsuit under a joint venture agreement in which they are not a party?
The arbitration clause in Dathcom's Articles of Association applies only to the parties to the joint venture agreement. This is AVZ and Cominiere! Externals have no right to it!If the rejection of the ICC is successful, there is no second procedure.
2.Court decision:
If Jin Cheng is not terminated, there will be procedure 2, which will determine whether the sale of Cominiere's 15% to Jin Cheng is legal and, more importantly, complete.

That is the correct legal situation that we have.
The mining license will be granted if the majority of shareholders and the ability to finance it are secured and DRC gets 10% from Cominiere.
This is the case. For this reason, the mining license must be considered separately.

Greetings from Germany
Combaste

29Like
Great analysis 3
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AVZ (ASX)

 

[MoneyBags1348]

Look, I'm just a retired nun, living in the back-blocks of NZ. I have no idea who this dude is, although plenty on here don't rate him. So be it.

All I know is he was on to the irregularities of Dathomir and Zijin MONTHS before the company finally declared their 'spurious and of no merit' statements.

I did sell a few on the basis of his research, because I found it to be credible. I wish I'd sold the fucking lot. Oops, 3 Hail Mary's

You told me you were a sophisticated investor…. you’ve just got back from a trip round the world and now you are telling me you are a retired nun


I think you might really be J Peterman

 

[Samus]

Maybe a stupid question . If we hold an undisputed 60% and have the financial backing , why can't they issue us with the ML ? MoM has declared the Manono Project a matter of urgency .

Maybe because they're a completely hopeless bunch of greedy clowns and turkeys?
For such a clear cut case to go so far astray and be seemingly ignored by the higher ups in the government is mind boggling.
Especially given the expense in lost revenues to the DRC.
Every argument you read on twitter is like a joke. The case is dead simple and my personal conclusion is that these people have a naturally occurring form of brain damage.
They'll talk and talk until the cows come home without taking the obvious actions that need to happen for everybody's benefit.
Despite the talk of corruption each and every civil servant seems to think they're entitled to a cut of everything, it's ingrained in their culture to the point they no longer know right from wrong imo.

 

[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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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.

 

[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 .