AVZ Discussion 2022

[bloke383]

Thoughts on ZIJIN’s news release today?

What a load of BS . Reading the article & a quick glance of their website would lead you to believe they are the most ethical & above board mining company on the planet .
They are just trying to scare everyone into submission . They are still claiming we may only end up with 36% !

COMINIERE said its transfer of the 15% interest in Dathcom to Zijin Mining was appropriate, legitimate, and compliant with relevant rules and regulations. Zijin Mining is a legitimate shareholder possessing a 15% stake in Dathcom. COMINIERE still holds a 10% interest in Dathcom following the completion of its transfer to Zijin Mining. AVZ is yet to complete the legal formalities required for its transfer of a 24% interest in Manono to other parties. If the transfer is completed, the stake held by AVZ in Dathcom will drop to 36%, and AVZ will no longer have an absolute controlling interest in Dathcom.

Where in the article does it state how & how much they paid for the 15% ?!!! Funny that !
Maybe Felix should take a close look how they acquired their stake in Ivanhoe ? My god I hope Felix kicks their asses to kingdom come !

 

[Winenut]

I definitely want 66% (not 51%) and Z to get fucked

 

[LX600]

Hi Guys, didn't we discuss this article's Chinese version over the weekend? Why only they put up an English version and everyone shocked?

 

[yeowiepower]

I'm hoping all this gets addressed before we open again, be it Wednesday or later. Zijin have now acknowledged this through formal channels, so no longer an issue of AVZ's word vs random social media Finflunencers.

Regardless of how you put it, it is going to be one of the biggest hits to retail confidence, especially with the supposed smart money exiting last week needs to be addressed succinctly to minimize the outflow of retail when we resume trading.

This level of dumping was totally unforeseen after management rubbished it with a one liner months ago. Although Im freecarrying it's the least confident I have been since early 2020.

I wish management was a little more transparent with it, and if it is total BS on Zijin's behalf I hope they are working with DRC govt to address these claims ASAP. The Zijin announcement has dropped some pretty big names in theirs.

Good luck fellow holders!

 

[The Fox]

But why only so openly public about it now is a strange thing to do when their own announcement says it was all done last year...

I guess its all coming to a head and now is the time for Z to make a strong statement. AVZ likely at a point of weakness when trying to close the CATH deal. Z might be bluffing hard knowing they might not get to keep all of the 15%, yet as this is a critical time for all concerned they might get to keep 5% or 10%, would not surprise me if there is some changes to what we were expecting ownership wise, just hoping AVZ still stay at or above 51% after mediation which was hinted by Z in the announcement.

Of course, there is always the chance big Felix weighs in for us and chops some heads off ....... please please please

 

[cruiser51]

funny this is worded exactly as the article.....Z knows they've done a backdoor dodgey (probably paying off the court as well as Cominiere officials) and they're just hoping to get away with it like they have been use to.....but there's a new sheriff in town boys

Z will highly likely do a back door deal with Simon Cong, or have done already for the additional 15%.

At the end of the day, if this goes through, Nigel always has the option to tell the Chinese to go fuck themself and allow the Cath deal to slip.
Meaning the final tally is AVZ 60%, Z 30% and DRC 10%.

In that case AVZ will have to find US$240 million + US$20 million for breach of contract, however Simon's Dathomir will have to pay AVZ the money back, which AVZ paid Dathomir, which easy will cover the US$20 million for breach of contract.

And Felix's DRC in financial circles will be seen as still corrupt.

Sorry Mr Pei, you better have a word with Zijin, coz at the end of the day that is the Chinese Government.
And Cath/Catl spod supply could well be redirected to the new Z battery factories

 

[Bull Market]

Avz could always just mine CDL which I believe they own 100%.

Is this correct?

 

[Xerof]

Avz could always just mine CDL which I believe they own 100%.

Is this correct?

Nope, part of 13359, on which we have the ML via DATHCOM.

 

[Remark]

An interesting article regarding the Wumao - I wonder how many HC posters are Wumao? Maybe I'm just paranoid?

Wumao: The Chinese Internet “50 Cent Army“ Explained

You can’t have an online conversation about China without the Wumaos interfering — believe me. It never happens. Not on Instagram. Not on Twitter. Not on Reddit. Nowhere. When you are involved in…

sustainabilitymattersdaily.com

 

[LX600]

I can confirm the news from the Zijin website today is a completed professional translation version of the Zijin Chinese social media platform article. I believe we have discussed this over the weekend. And right now we can only wait for the announcement. As I said, I think this announcement will be an official one from DRC authority.

 

[Xerof]

CAThH might chose not to pay considering they havent already, in which case there's no breach, wonder what sort of relationship CATH have with Zijin right now. Chinese always favour Chinese but hmmm

It’s unusual for two Chinese companies to compete for the same target. In this case it seems to me that Zijin was gazumped by the CATH deal. I say this because it seems obvious AVZ rejected any direct approaches from Zijin. Not sure they’re friends (Z and CATH) and I think a JV between AVZ and Z would be dysfunctional at best, hostile at worst

 

[obe wan]

apparently African sources claiming Cominiere have gone through the ringer on a number of recent dealings, with findings of corruption on top of the pile . Articles from china (with good English translation) pouring out of the wood work over the last week, looking like the copy and paste of questionable articles.

$6m (15%) paid to Cominiere ; Cominieres claims falling deeply into the breach jar. Cominiere own Zijin (their JV partner in Katamba mining) $6m..im sure they can work it out between themselves

 

[Xerof]

I can confirm the news from the Zijin website today is a completed professional translation version of the Zijin Chinese social media platform article. I believe we have discussed this over the weekend. And right now we can only wait for the announcement. As I said, I think this announcement will be an official one from DRC authority.

Agree, wait for the announcement. I’m not posting again until then. There is no point regurgitating the same stuff

 

[LX600]

And Zijin and Simon Cong is playing mind game to let AVZ give up one of the 15%.

Let's assume if AVZ say Zijin's 15% is not valid, then Zijin may use the same ruling to say AVZ's 15% not valid. That is why and how Zijin put the pressure on AVZ at the moment.

 

[wombat74]

So is this reason for the CATH $240mil delay ?

 

[wombat74]

Mining8 has been noticeably absent from todays discussions . Would be nice to get his take on this .

 

[CHB]

So is this reason for the CATH $240mil delay ?

No.

If they were in cahoots they would have paid ASAP.

CATH waiting on ML which we should hear about on Wednesday.

 

[bloke383]

No.

If they were in cahoots they would have paid ASAP.

CATH waiting on ML which we should hear about on Wednesday.

Unless AVZ holding them off until Zijin matter is sorted 100% ?

 

[DiscoDanNZ]

For all we now know it could even be AVZ delaying the CATH deal as there is nothing in the announcements to say who is actually delaying it. Current discussions probably resemble something like this: "we are still committed to honoring the deal provided we don't have to share this with your dodgy AF fellow countrymen that are trying to screw us over"

If we lose the percentages in dispute to those greasy fucks I imagine the original CATL deal is off, or at least the whole 24%. If we keep them (as we should IMO) then the CATL deal goes as planned.

I bet that with all the dodgy Chinese goings on Nige is less than prepared to complete a deal that could see us not being the majority holders if the dodgy pricks pull this off.

 

[investinvest]

Zijin claims that they legally hold 15% of Manono project. Even if that may be true, that does not mean that they got it via legal means without shady means/corruption. What may be legally Zijin's can be taken away just as easily if it was obtained illegally. Case in point; the 1MDB corruption scandal in Malaysia. Even though there were tonnes of luxury properties, jewelleries and assets legally under the names of the corrupted individuals involved, they were seized by authorities and returned to the government. So if Zijin gets found out to be involved in dodgy dealings, they will be stripped of their alleged 15% share just as easily. And way more money was involved in the 1MDB scandal than what is involved here.