Sparrowhawk12
Regular
Thats why I am wondering if Felix smoothed it over with CCP when he was in China ... a few days ago. I.e. CCP tells Zijin to withdraw so as not to mess up relations with DRC Govt / Felix.
AVZ Discussion 2022
- Thread starter GazDix
- Start date
Mr Inappropriate
Regular
A precondition to presidential intervention in our favour is that AVZ will commit to taking no legal action against any DRC department or body, IMO.
We’ll be told, “you got your mining lease, move on”.
I hope we go after Z and AFR though…
#fuckzijin
We’ll be told, “you got your mining lease, move on”.
I hope we go after Z and AFR though…
#fuckzijin
Mute22
Regular
Sounds fair to me, only the culprits should suffer if we want to form a partnership for the long term with the gov.
Anything to get the show on the road.
Raise an interesting point.
If Cominiere do win and have 10% .
Are they compelled to transfer the 10% to the State considering all the bullshit they are presenting.
Or can they continue with the stalling with Zijin?
Hopefully FT forces them by decree to transfer the 10% under the Mining Code.
Allowing a Mining Licence to be issued.
Mr Inappropriate
Regular
Yep.
If Dathcom meet the ML preconditions (they do), and
Cominiere get back up to 10% to cede to the government (i.e. they win at the ICC) then
the ML could be issued, and
any remaining % disputes with dathcom could be sorted out separately.
Winenut
Go AVZ!
I do not believe any other party to the JVA has any right of first refusal
The ROFR was in favour of AVZ and in relation to Cominiere selling any of it's interest in the project to any other party
Under the JVA Cominiere also has to cede 10% of it's holding to the DRC government
Again I stand to be corrected and probably need to squirrel around and find the actual clause in the JVA that covers the issue for completeness
Winenut
Go AVZ!
Not sure where Tommy is but being a glove puppet if you can locate Boatman's right arm you should find him......
Carlos Danger
Top 20
Yes Cominiere would of had ROFR on the AVZ to CATH 24% imo
Surely management gave them the 40 days
They probs didn't accept because they have no fucking money and never had any intention of being involved in mining. If we had rolled over on the 15% to Zijin they would have fucked off into the sunset with their snacks.
AVZ wins interim orders against Congolese JV partner
Lucas Baird
Reporter
May 8, 2023 – 5.14pm
AVZ Minerals, the embattled lithium miner that has been suspended from trading for nearly a year, claims it won interim orders to prevent a former Congolese joint venture partner from terminating their deal or taking further legal action for now, in an ownership tussle over a lithium deposit.
The company is in an ongoing fight to control the Manono lithium deposit in the south-east of the Democratic Republic of Congo with the DRC-backed mining body Cominiere and entity Dathomir. The pair sought to terminate a deal for AVZ to buy 15 per cent of the so-called Dathcom joint venture, in favour of a large Chinese miner, Zijin, in 2021.
AVZ managing director Nigel Ferguson. YouTube
AVZ maintains it legally owns 75 per cent of Manono, although 30 per cent of that interest is disputed, and its mining licence linked to the project was cancelled by the DRC government on January 28. Zijin separately has asserted it has sound legal title to the 15 per cent stake it purchased from Cominiere.
The Australian miner disclosed the ministerial decree cancelling the license on February 6, one day after being emailed questions about the order by The Australian Financial Review.
AVZ told shareholders in mid-April that legal action had commenced in the International Chamber of Commerce regarding the transactions and, on Monday, said it had won interim orders in emergency arbitration.
The orders prevent Cominiere from “taking any action or taking any steps that would result” in the termination of the Dathcom joint venture, it said.
The orders prevent Cominiere from taking any legal action in the DRC regarding the JV, until the International Chamber of Commerce makes a final decision on the dispute. If Cominiere were to violate the orders, it would be subject to a €50,000 ($81,406) fine for each day in breach, according to AVZ’s statement.
“The broader Cominiere Arbitration Proceedings before the ICC also relates to Cominiere’s purported, but in AVZ’s view unlawful transfer of 15 per cent of its shares in Dathcom, to a third party,” AVZ said.
“Any failure by Cominiere to comply with the Emergency Arbitrator’s emergency orders, will be addressed by the arbitral tribunal in the Cominiere Arbitration Proceedings.
“The company, together with Dathcom, will continue to take all actions necessary to protect its legal rights in the Manono Project, the interests of its shareholders and other stakeholders,” AVZ said.
The lithium explorer is defending a separate arbitration case brought by Zijin, with hearings scheduled to start on July 3.
The Australian Securities Exchange last month suspended AVZ for failing to comply with its listing rules, sending the company a series of questions.
AVZ told the ASX its failure to “fully comply” with the key listing rule is partly because its confidential and legally privileged information has been reported by the Financial Review, which revealed on February 8 that it paid a Congo middleman $US1 million cash to help it secure its mining licence from the DRC government.
The company’s shares have not traded since May last year.
Mmmmm Tommy MIA, does he still work for the AFR?
Winenut
Go AVZ!
Interesting!
Considering Cominiere is expected to hold nothing in the project as a memeber of the JV after selling down it's position and ceding 10% to the DRC Govt
I really appreciate the post Carlos
I clearly need to do some more digging!
Carlos Danger
Top 20
Not the only thing they got wrong. Jesus fucking Christ how many times do I need to go over this. The worst thing is after being called out on getting this BASIC FACT wrong twice Tommy actually changed it in his latest story to reflect the truth (didn't write a correction or change the originals because he's a dipshit). Seems the new kid is just as fucking stupid as Tommy. The AFR is a disgrace even by the standards of their industry. This is appalling 'journalism'.
I have a direct link to the water fountain mate, sparkling not still..
Let’s be honest, this is intentional. They have been following the story for the last 12 months, no excuses for not getting it right.
CashKing
Regular
I’d say this is just one of the little Cocksuckers TBAG Tommy has groomed into thinking he will become a hotshot journalist like TBAG himself.AVZ wins interim orders against Congolese JV partner
Lucas Baird
Reporter
May 8, 2023 – 5.14pm
AVZ Minerals, the embattled lithium miner that has been suspended from trading for nearly a year, claims it won interim orders to prevent a former Congolese joint venture partner from terminating their deal or taking further legal action for now, in an ownership tussle over a lithium deposit.
The company is in an ongoing fight to control the Manono lithium deposit in the south-east of the Democratic Republic of Congo with the DRC-backed mining body Cominiere and entity Dathomir. The pair sought to terminate a deal for AVZ to buy 15 per cent of the so-called Dathcom joint venture, in favour of a large Chinese miner, Zijin, in 2021.
AVZ managing director Nigel Ferguson. YouTube
AVZ maintains it legally owns 75 per cent of Manono, although 30 per cent of that interest is disputed, and its mining licence linked to the project was cancelled by the DRC government on January 28. Zijin separately has asserted it has sound legal title to the 15 per cent stake it purchased from Cominiere.
The Australian miner disclosed the ministerial decree cancelling the license on February 6, one day after being emailed questions about the order by The Australian Financial Review.
AVZ told shareholders in mid-April that legal action had commenced in the International Chamber of Commerce regarding the transactions and, on Monday, said it had won interim orders in emergency arbitration.
The orders prevent Cominiere from “taking any action or taking any steps that would result” in the termination of the Dathcom joint venture, it said.
The orders prevent Cominiere from taking any legal action in the DRC regarding the JV, until the International Chamber of Commerce makes a final decision on the dispute. If Cominiere were to violate the orders, it would be subject to a €50,000 ($81,406) fine for each day in breach, according to AVZ’s statement.
“The broader Cominiere Arbitration Proceedings before the ICC also relates to Cominiere’s purported, but in AVZ’s view unlawful transfer of 15 per cent of its shares in Dathcom, to a third party,” AVZ said.
“Any failure by Cominiere to comply with the Emergency Arbitrator’s emergency orders, will be addressed by the arbitral tribunal in the Cominiere Arbitration Proceedings.
“The company, together with Dathcom, will continue to take all actions necessary to protect its legal rights in the Manono Project, the interests of its shareholders and other stakeholders,” AVZ said.
The lithium explorer is defending a separate arbitration case brought by Zijin, with hearings scheduled to start on July 3.
The Australian Securities Exchange last month suspended AVZ for failing to comply with its listing rules, sending the company a series of questions.
AVZ told the ASX its failure to “fully comply” with the key listing rule is partly because its confidential and legally privileged information has been reported by the Financial Review, which revealed on February 8 that it paid a Congo middleman $US1 million cash to help it secure its mining licence from the DRC government.
The company’s shares have not traded since May last year.
Mmmmm Tommy MIA, does he still work for the AFR?
TBag probably has he’s mouthful and can’t speak IMO
No offense to any genuine suckers…
Ahh 
I’ll just let myself out..
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