AVZ Discussion 2022

[Winenut]

 

[Jazz]

With no real end in sight to this suspension and only three quarters of funding left in the tank. It looks likely that the ATM funding facility may be required to keep the lights on. I’m wondering if managements hand may be forced to lift the suspension in 6 or so months in order to access the ATM funds so the shares can be sold on market.
Can anyone comment on the details of how the ATM facility can/can’t work during suspension? I have no knowledge of this type of arrangement.

So todays announcement shuts the door on the ATM facility.

 

[Onthefm]

So todays announcement shuts the door on the ATM facility.

Thank christ we spent all that money on drilling z our 15% partner didn't have to spend a cent and their 15% is worth even more than 33 mill now.

 

[Xerof]

IF Z ever get to be a shareholder, you can be assured they will pay a lot more than 35m for that stake. Thats what any possible negotiation would be about, but I doubt AVZ would entertain any possibility of working with those cunts.

 

[JNRB]

IF Z ever get to be a shareholder, you can be assured they will pay a lot more than 35m for that stake. Thats what any possible negotiation would be about, but I doubt AVZ would entertain any possibility of working with those cunts.

They'll be told to fuk off, and blamed for all the corruption and delays so as to make DRC ministers etc look less corrupt

 

[Winenut]

So it all revolves around AVZ's answer to question 19 from the ASX

AVZ confirmed it is not in compliance with listing rule 3.1 (continuous disclosure) and provided the ASX with the reasons why it is currently unable to comply

Then under listing Rule Chapter 17.3.1 ASX officially suspend AVZ due to non-compliance with listing rule Chapter 3.3.1

Don't let all the 3.1's confuse you


AVZ confirmed they are not in compliance with Chapter 3 listing rule 3.1

The ASX then suspended AVZ (indefinitely) under Chapter 17 listing rule 3.1

Note the suspension is "indefinite" because it is unknown at what point in time AVZ will be able to again comply with the continuous disclosure Chapter 3 listing rule 3.1

As some have mentioned before maybe it will have something after the ICC hearing April 21st????

I tend to think AVZ will only be in a position to comply once they have sorted out their negotiations and situation with the DRC Government, CAMI and Cominiere

AVZ are specifically and actively not adhering to the Chapter 3 continuous disclosure listing rule as they are concerned that confidential, privileged and legal information is leaking to non-national opposing entities during the discussion and negotiation process with the relevant DRC parties

So for me effectively we are pretty much in the same boat

We will stay suspended and will be enduring a cone of silence until the shit is sorted out once and for all

The only difference is we are no longer in voluntary suspension but officially suspended by the ASX

We will only come out of suspension if and when AVZ can prove to the ASX that they can comply with the Chapter 3 continuous disclosure listing rule 3.1

Hopefully that is soon and hopefully when they are in a position to disclose information it's what we want to hear

The alternative is ....well.....pretty fucked

 

[geo_au]

We are suspended until our BOD can clearly indicate what the fuck is going on with the deposit. They are keeping it hush hush at the moment because they either need to negotiate their way out or they are a pack of over funded geologist that will need a place to hide when this goes flop. Fuck them and fuck the asx for enabling this complete bullshit to exist. “We want to list our company to gain funding for a mineral resource we have found”. “Where is it?” “ DRC”. “GET THE FUCK OUT OF MY OFFICE AND TRY GO FUND ME YOU CUNT”

I think investors are getting their knickers in a twist over this nothing announcement. The reason the BoD are keeping quiet is because sensitive issues are being discussed, to release these issues now would not be in the interests of shareholders and could give Zijin and others an advantage. As I said before this latest announcement is a nothing announcement and quite frankly I'm not concerned about it.

 

[Misfits]

Firstly, IMO this has changed nothing apart from we don't have to keep announcing suspension extensions. Secondly, people should settle down a bit as these announcements haven't decreased or increased anything, its business as usual. Thirdly, we cant use the ATM unless we are trading, Fourthly, ICC soon so bring it on! IMO we will come out the other side AOK. Now back to retweeting Jags and others Twitter posts.

 

[9cardomaha]

So i've caught wind of something and timecapsuled myself the content - not really related to today's anns but could impact.

It's also provided more perspective on the cone of silence the BOD has been taking so i'm gonna follow suit (mainly because i don't have documentation to support)

Feel free to reach out, happy to share on the DL and discuss.

9CO

 

[JNRB]

Anyone else actually ok with the fact that this will prevent the company from having to constantly put out stupid extensions every month? We know there's shit going on, just leave it suspended till it's sorted.

It does feel like we're getting closer and closer to that point. More info out in the open eg zijin corruption letter. More specific allegations being laid ie Celestin Kibeya stealing 2.2mil etc. We know now that embassies are involved.

Eventually, somethings gonna happen .

(( my guess ))
Fk-off Zijin, - Transaction against shareholder agreement and CK had no authority anyway.
There is absolutely 0 benefit to DRC for Zijin being involved, no motivation to fight for it.
Anyone that was involved is either now getting thrown under the bus or trying to distance themselves from it.

Cath buys that 15% direct from Cominiere at same price they buy 9% from AVZ - Fair pricing all around no one can argue otherwise.
This also means we don't have to throw 10% AVZ equity into our offer.

I also reckon there's gonna be some US/EU funding in there somewhere, likely for region/value-chain than AVZ specific, but tied to progress on fighting corruption - read: fighing chinese fukery and robbery. Little sweetener to help convince them to give zijin the boot.
))

 

[cruiser51]

So it all revolves around AVZ's answer to question 19 from the ASX

AVZ confirmed it is not in compliance with listing rule 3.1 (continuous disclosure) and provided the ASX with the reasons why it is currently unable to comply

View attachment 34113



Then under listing Rule Chapter 17.3.1 ASX officially suspend AVZ due to non-compliance with listing rule Chapter 3.3.1

View attachment 34114





View attachment 34115


Don't let all the 3.1's confuse you


AVZ confirmed they are not in compliance with Chapter 3 listing rule 3.1

The ASX then suspended AVZ (indefinitely) under Chapter 17 listing rule 3.1

Note the suspension is "indefinite" because it is unknown at what point in time AVZ will be able to again comply with the continuous disclosure Chapter 3 listing rule 3.1

As some have mentioned before maybe it will have something after the ICC hearing April 21st????

I tend to think AVZ will only be in a position to comply once they have sorted out their negotiations and situation with the DRC Government, CAMI and Cominiere

AVZ are specifically and actively not adhering to the Chapter 3 continuous disclosure listing rule as they are concerned that confidential, privileged and legal information is leaking to non-national opposing entities during the discussion and negotiation process with the relevant DRC parties

So for me effectively we are pretty much in the same boat

We will stay suspended and will be enduring a cone of silence until the shit is sorted out once and for all

The only difference is we are no longer in voluntary suspension but officially suspended by the ASX

We will only come out of suspension if and when AVZ can prove to the ASX that they can comply with the Chapter 3 continuous disclosure listing rule 3.1

Hopefully that is soon and hopefully when they are in a position to disclose information it's what we want to hear

The alternative is ....well.....pretty fucked

Of course I am not happy about the long suspension.

However, if this is what it takes to bring this to a successful finale, so be it.

Our opposition does not publish anything about this case, so it is not smart for us to play with our cards on the table.

Looking at twatter there are plenty pro and con people extremely active.
China probably has an entire army plus several newspapers and radio and television stations engaged.

AVZ has explained to the ASX the how and why. The ASX has placed AVZ as per the rule book in suspension, so no more questions to answer.

There is too much money involved for everybody.

So it is much smarter to negotiate without distracting sideshows or yapping dogs.

Fuk Zijin, no ifs or buts, just fukkum and sue um, including kunty kong.

 

[RHyNO]

I think investors are getting their knickers in a twist over this nothing announcement. The reason the BoD are keeping quiet is because sensitive issues are being discussed, to release these issues now would not be in the interests of shareholders and could give Zijin and others an advantage. As I said before this latest announcement is a nothing announcement and quite frankly I'm not concerned about it.

Agree be nice if they could let us know a bit of this in their announcement though. But tend to agree with you. Hope you are right

 

[Xerof]

I think investors are getting their knickers in a twist over this nothing announcement. The reason the BoD are keeping quiet is because sensitive issues are being discussed, to release these issues now would not be in the interests of shareholders and could give Zijin and others an advantage. As I said before this latest announcement is a nothing announcement and quite frankly I'm not concerned about it.

As a retired nun, I quite like going commando.

I’m going under cover, commando, to have a chat with 9card, so see you all later

 

[Misfits]

A good post on HC from Amovatio. His last sentence is interesting.....

Amovatio​

82 Posts.
510
Date:12/04/23Time:18:23:45Post #:67242470

wombat74 said: ↑
Well posted Wombat. The ASX Outcome I am sure is what AVZ would have wanted while the Legal cases and investigations by the DRC Ministry are progressing. I am convinced the legal Counsel being provided to our Management team has the best interests of our shareholders at the forefront of the actions being undertaken. The ASX had no other option but to keep us in suspension which ends any speculation on the date for resuming trading.
I am sure as some have already alluded to, the ASX was being pressured from several large retail shareholders and media sources to get disclosure from AVZ Management on the deliberations with the DRC Govt. Now that source of information has dried up, at least for now, only plain old speculation can feed the negative ramps.
It will be interesting to know whether *****************, AFR or any DRC journalists will be following the Legal case in the ICC and providing daily reporting. I am sure the DRC President will have an interested observer present to report back to his Ministry so he can gather critical information to provide further clarity who specifically is behind the corruption and what their intentions have been. If the information provided by the Directorate of Finance is proven in the ICC then it will only be a matter of time before we hear more on the ML.
That being said, I applaud AVZ for not disclosing information that would undoubtedly be used to discredit AVZ management transactions and ultimately cause further delays to our case while information is sourced by the Courts. As a former Plaintiff on several legal cases keeping your competitors blindsided of your transactions and strategy suppresses their ability to seek further information which they would say they were not privy to in advance of defending their position. That's the simple way to win and drive the outcome you want.
I am also of the view that while these cases are continuing AVZ management has control of the timing to release future announcements which on the award of the ML will provide further evidence of results, drilling investigations, pending off take agreements, funding arrangements, and timeline to FID which would reduce any impact to the current listed SP when the ASX is satisfied we have met their disclosure obligations.
Let's hope the following week provides the glimmer of hope to benefit all shareholders and end the trading suspension.

 

[thegh0stwithin]

Anyone else actually ok with the fact that this will prevent the company from having to constantly put out stupid extensions every month? We know there's shit going on, just leave it suspended till it's sorted.

It does feel like we're getting closer and closer to that point. More info out in the open eg zijin corruption letter. More specific allegations being laid ie Celestin Kibeya stealing 2.2mil etc. We know now that embassies are involved.

Eventually, somethings gonna happen .

(( my guess ))
Fk-off Zijin, - Transaction against shareholder agreement and CK had no authority anyway.
There is absolutely 0 benefit to DRC for Zijin being involved, no motivation to fight for it.
Anyone that was involved is either now getting thrown under the bus or trying to distance themselves from it.

Cath buys that 15% direct from Cominiere at same price they buy 9% from AVZ - Fair pricing all around no one can argue otherwise.
This also means we don't have to throw 10% AVZ equity into our offer.

I also reckon there's gonna be some US/EU funding in there somewhere, likely for region/value-chain than AVZ specific, but tied to progress on fighting corruption - read: fighing chinese fukery and robbery. Little sweetener to help convince them to give zijin the boot.
))

It is the first time I have heard of the concept of handing a percentage of the right of first refusal percentage to CATH. Really smart, on a number of fronts. I like it.

 

[Onthefm]

I think investors are getting their knickers in a twist over this nothing announcement. The reason the BoD are keeping quiet is because sensitive issues are being discussed, to release these issues now would not be in the interests of shareholders and could give Zijin and others an advantage. As I said before this latest announcement is a nothing announcement and quite frankly I'm not concerned about it.

Although I didn't see best bod on the asx in that post.

 

[DoubleA]

It is the first time I have heard of the concept of handing a percentage of the right of first refusal percentage to CATH. Really smart, on a number of fronts. I like it.

The whole issue is the difficulty in enforcing the first right of refusal and getting that 15% back off Zijin, whether AVZ purchase it or give it directly to CATH.

This is why I have suggested trying to enforce the terms of the CATH agreement and obtaining the $240 million of funding. Get some of the powerful Chinese on side with skin in the game which may help to move things along and put pressure on DRC to grant the mining licence. It may discourage other Chinese entities from competing against CATH as well.

This would require us to "run the gauntlet" so to speak and risk ending up with 36% if everything went against us. The alternative appears to be that we stay in this gridlock for years on end. When I have mentioned this in the past people don't seem to get it. If we keep continuing down this path of multiple ICC cases with all Zijin's delaying tactics then realistically we may sort out the jurisdictional issues in 2024. Then get into the details of the cases in 2025-26 and then hope for a favourable resolution after that. It is a long time to wait and hope the corrupt DRC Government don't take action against AVZ before then.

Maybe the board of directors have some sort of additional information which makes them think continuing down this path is the right way to go. I hope that is true. Maybe there will be a change in Government at the next election. Who knows how that would affect things.

 

[Chilla]

The whole issue is the difficulty in enforcing the first right of refusal and getting that 15% back off Zijin, whether AVZ purchase it or give it directly to CATH.

This is why I have suggested trying to enforce the terms of the CATH agreement and obtaining the $240 million of funding. Get some of the powerful Chinese on side with skin in the game which may help to move things along and put pressure on DRC to grant the mining licence. It may discourage other Chinese entities from competing against CATH as well.

This would require us to "run the gauntlet" so to speak and risk ending up with 36% if everything went against us. The alternative appears to be that we stay in this gridlock for years on end. When I have mentioned this in the past people don't seem to get it. If we keep continuing down this path of multiple ICC cases with all Zijin's delaying tactics then realistically we may sort out the jurisdictional issues in 2024. Then get into the details of the cases in 2025-26 and then hope for a favourable resolution after that. It is a long time to wait and hope the corrupt DRC Government don't take action against AVZ before then.

Maybe the board of directors have some sort of additional information which makes them think continuing down this path is the right way to go. I hope that is true. Maybe there will be a change in Government at the next election. Who knows how that would affect things.

That’s a NO from me!

 

[Xerof]

And a NO from him. To get into bed with Zijin, the cheating cunts in all this, is simply untenable.

 

[SilentOne]

The whole issue is the difficulty in enforcing the first right of refusal and getting that 15% back off Zijin, whether AVZ purchase it or give it directly to CATH.

This is why I have suggested trying to enforce the terms of the CATH agreement and obtaining the $240 million of funding. Get some of the powerful Chinese on side with skin in the game which may help to move things along and put pressure on DRC to grant the mining licence. It may discourage other Chinese entities from competing against CATH as well.

This would require us to "run the gauntlet" so to speak and risk ending up with 36% if everything went against us. The alternative appears to be that we stay in this gridlock for years on end. When I have mentioned this in the past people don't seem to get it. If we keep continuing down this path of multiple ICC cases with all Zijin's delaying tactics then realistically we may sort out the jurisdictional issues in 2024. Then get into the details of the cases in 2025-26 and then hope for a favourable resolution after that. It is a long time to wait and hope the corrupt DRC Government don't take action against AVZ before then.

Maybe the board of directors have some sort of additional information which makes them think continuing down this path is the right way to go. I hope that is true. Maybe there will be a change in Government at the next election. Who knows how that would affect things.

Under no circumstances would we want to slip under 51% - we want to retain control because that is the only way the DRC and Shareholders are going to receive true value. Otherwise we run the risk of our profits being offshored - in my opinion. In addition, one of the conditions of the issuance of the mining license is that someone holds 51% stake - please correct me if I am wrong.

Regards,

Silence