AVZ Discussion 2022

[TheCount]

Would AVZ if/when victorious in ICC cases and granted license etc. pursue compensation against Cominiere for stalling and also defamation for blatant, provable publicly-stated lies about AVZ over the last year? And if so would todays ICC ruling prompt Cominiere to ‘throw in the towel’ to avoid having to potentially pay [further] damages in future?
Great to finally see things starting to happen.
Gltah

We need to work with the DRC on a mutually beneficial outcome for many generations.

Take the win and start digging the product out of the ground..

TC

 

[Winenut]

Can someone clarify for me the right of first refusal.
My understanding is that the right of first refusal applies to the parties in the JV agreement, so as to mean that CATH should have only been offered the 24% if Cominiere refused?

The right of first refusal relates to the 15% Cominiere sold to Zijin

Under the right of first refusal in the JV agreement AVZ had to be offered the opportunity to purchase that 15% before a transaction was undertaken with any other party

If an offer was made by Zijin to purchase that 15% Cominiere had to advise AVZ under the terms of the JV agreement so that AVZ had its ROFR respected....ie AVZ had to be given the opportunity to purchase that 15% before anyone else could undertake that transaction

IF AVZ chose not to purchase the 15% and advised Cominiere of such then under the terms of the JVA Cominiere could enter into the sale transaction with another party

If I've got that wrong in any way happy for any of the legal eagles to provide clarity

 

[Hodlandwin69]

The right of first refusal relates to the 15% Cominiere sold to Zijin

Under the right of first refusal in the JV agreement AVZ had to be offered the opportunity to purchase that 15% before a transaction was undertaken with any other party

If an offer was made by Zijin to purchase that 15% Cominiere had to advise AVZ under the terms of the JV agreement so that AVZ had its ROFR respected....ie AVZ had to be given the opportunity to purchase that 15% before anyone else could undertake that transaction

IF AVZ chose not to purchase the 15% and advised Cominiere of such then under the terms of the JVA Cominiere could enter into the sale transaction with another party

If I've got that wrong in any way happy for any of the legal eagles to provide clarity

Yeh I know. But I mean the 24% AVZ plans to sell to CATH.
Ive seen counter arguments that AVZ have no right to sell it to CATH and must offer it to other JV partners first.
I can't link any references, it's just things I've read long ago and apparently one of the arguments raised by cominiere?? Perhaps the reason this 24% CATH deal keeps being postponed, idk

 

[David Krappenschitz]

My opinion is Cominiere/CKK are being blackmailed (and bribed) by Zijin from their own corrupt behaviour.
We already had the phone call released, only Zijin would have done that as a threat.

So IMHO CKK and whoever else is being blackmailed by Zijin, will never give up causing trouble for AVZ, because Zijin will expose them if they don't.
And since a government minister is implicated in all this, it just makes it all the more difficult to resolve without it being obvious to the world, that the DRC government are utterly corrupt.
That IMHO is why we havent seen any decisive action yet.
It's a huge mess, and china is holding the DRC's face to the hot coals.
But as much as we want to despise china for what they're doing, it's actually the DRC who allowed this to happen.
However the DRC is a victim of it's past, so its not really their fault, change takes a long time.
It is what it is, and we chose to risk our money in this place.

It's so glareingly obvious what's going on, everyone sees it.

But it's just my opinion, who really knows man.

Interesting, if so then Cominiere is really in the shit. If Zijin lose ICC case they can still expose corrupt players to save face/deflect blame. Everything for them both is really riding on illegally kicking AVZ out of the project, which they’ve failed to do, or Zijin winning the ICC case which is only really feasible if they can bribe the arbitrators.

Best scenario for them both imo is back off and Cominiere get a deal done with AVZ, Zijin out of project but can still demand their money back from Cominiere through blackmail - and then once payed they both move on like it never happened lol

Imo

 

[Sparrowhawk12]

Interesting, if so then Cominiere is really in the shit. If Zijin lose ICC case they can still expose corrupt players to save face/deflect blame. Everything for them both is really riding on illegally kicking AVZ out of the project, which they’ve failed to do, or Zijin winning the ICC case which is only really feasible if they can bribe the arbitrators.

Best scenario for them both imo is back off and Cominiere get a deal done with AVZ, Zijin out of project but can still demand their money back from Cominiere through blackmail - and then once payed they both move on like it never happened lol

Imo

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.

 

[Mr Inappropriate]

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

 

[Mute22]

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

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.

 

[whales]

Well not much really i would of thought, MMCS dont have a case one would think, Cominiere will get a win there which is important, cause they need that to provide DRC govt their 10% share of Dathcom as per previous agreement.

imo

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]

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.

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.

 

[cruiser51]

 

[Winenut]

Yeh I know. But I mean the 24% AVZ plans to sell to CATH.
Ive seen counter arguments that AVZ have no right to sell it to CATH and must offer it to other JV partners first.
I can't link any references, it's just things I've read long ago and apparently one of the arguments raised by cominiere?? Perhaps the reason this 24% CATH deal keeps being postponed, idk

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

 

[cruiser51]

Joe
@joe_mbaya


"As a reminder, the reasons for the cancellation of the Exploitation License, No. 13359 by the Minister of Mines, Antoinette Nsamba Kalambayi, were based in particular on the same accusations by COMINIERE." Absolutely

 

[Winenut]

Where the fuk is Tommy??

Not sure where Tommy is but being a glove puppet if you can locate Boatman's right arm you should find him......

 

[cruiser51]

Not sure where Tommy is but being a glove puppet if you can locate Boatman' right arm you should find him......

Ok, where the fuk is the boatman!

 

[Charbella]

It is an absolute disgrace how they have phrased the 1st paragraph. Inaccurate, poorly and wrongly written.

 

[Carlos Danger]

Yeh I know. But I mean the 24% AVZ plans to sell to CATH.
Ive seen counter arguments that AVZ have no right to sell it to CATH and must offer it to other JV partners first.
I can't link any references, it's just things I've read long ago and apparently one of the arguments raised by cominiere?? Perhaps the reason this 24% CATH deal keeps being postponed, idk

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

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.

 

[cruiser51]

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]

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.

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]

It is an absolute disgrace how they have phrased the 1st paragraph. Inaccurate, poorly and wrongly written.

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'.

 

[Goat]

Big weekend in what regard? Champagne in my fridge is about to lose its carbonation since 2021.

I have a direct link to the water fountain mate, sparkling not still..