This is what the AFR wrote and even writes in today's edition.Yes I agree Tommy's logic is idiotic. That's why I said 'if we were stupid enough to then sell the 24% to CATH'. No chance we would do that.
Technically Tommy wrote 75 - 24 - 15 = 36 but the answer is still the same
And yes the AFR has been trying to push Zijin's propaganda that AVZ will lose control of Dathcom. When their original claim was countered by Nigel saying 'CATH are happy with 9% if needed' they switched to implying AVZ could lose control even without selling to CATH because allegedly both the Dathomir and Cominiere disputes are part of the 75% that AVZ legally own. So to the casual AFR reader AVZ could be left with 45% before the CATH deal. Which was my point.
So you reckon AVZ are hiding behind the fact we have a TIA with CATH instead of a normal sale as the reason for no Cominiere pre-emption notification?The AVZ - CATH deal was never completed, so no need to talk about pre-emptive rights there.
AVZI intended to exercise is pre-emptive right to buy 15% from Cominière before ceding 10% to the DRC as per mining legislation.
Cominière never corresponded the agreed price with Zijin to AVZI the owner of 75% of Dathcom.
Pre-emptive rights are not an auction for shares.
AVZI was supposed to be given the Pre-emptive right, ie. the shares should have been offered to AVZI under the same condition as to Zijin.
That is why AVZI asked 'What is the deal'.
AVZI never got an answer on that request, because nobody in their bright mind would say $34 million, plus an X amount in brown paper bags.
Even CKK is not that stupid.
If AVZI, as NF says owns 75%, would have been able to exercise its pre-emptive right and buy Cominière's 15% and the remaining 10% was ceded to the DRC, who does Nigel have to tell that he is going to sell 24% out of his 75 + 15 = 90%?
Right he has to tell before the event the Dathcom BoD, AVZ!/AVZ BoD and the DRC Government about the deal (and through this all shareholders involved).
The DRC's 10% is free carried, that is part of the deal.
If the DRC. wishes to retain 25% than that is not free carried, that is why 10%, as per legislation.
The reason AVZ made the CATH deal public is because of the funding of the project.
However, talking about blind Freddy, even blind Freddy knows there is no need to give Cominière pre-emptive rights, because at that stage Cominière and Dathomir would be out of the equation and not in the need to know circle.
All IMO
You show me one document which states that AVZI has sold 24% of Dathcom to CATH.So you reckon AVZ are hiding behind the fact we have a TIA with CATH instead of a normal sale as the reason for no Cominiere pre-emption notification?
Makes sense but it's a bit shady to announce the deal to the ASX without telling the JV partners first. Not that I care if Cominiere are getting rat fucked by this structuring haha
But it does give ammo to Cominiere with their 'AVZ don't have any money' claims which they have used to delay the finalising of the licence as we can't fund construction without the CATH money as things stand in official announcements
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I was agreeing with youYou show me one document which states that AVZI has sold 24% of Dathcom to CATH.
All they have is an agreement to sell (the famous TIA), which either of the parties can cancel any time, even today!
But the 24% has not been sold, very simple.
Why do you think this 24% has not been sold as yet?
I don't think AVZ is as stupid as Cominière.
"But it does give ammo to Cominiere with their 'AVZ don't have any money' claims which they have used to delay the finalising of the licence as we can't fund construction without the CATH money as things stand in official announcements"
Can you please explain how you go from AVZ 60% to AVZ 35% after, what according to you, the MoP would like to happen, ie AVZ cedes 5% to DRC?If it's option (C) Dathomir will likely sell to Zijin . AVZ 51% Zijin30% CATH9% DRC 10%
In the unlikely event MMSC do not have to return the 5% the equation will be different . A lot of it will depend on whether the MoP still has a say in all this . She is on record as saying AVZ needs to cede 10% .
This is what the MoP wants IMO (Dath and Comm selling to Zijin ) Zijin 50% AVZ 35% DRC10% MMSC 5% (AVZ sues gov $10 Billion) .
In this case a likely settlement would be reached . This is worst case scenario and unlikely . IMO
It is not a question of hiding.So you reckon AVZ are hiding behind the fact we have a TIA with CATH instead of a normal sale as the reason for no Cominiere pre-emption notification?
Makes sense but it's a bit shady to announce the deal to the ASX without telling the JV partners first. Not that I care if Cominiere are getting rat fucked by this structuring haha
But it does give ammo to Cominiere with their 'AVZ don't have any money' claims which they have used to delay the finalising of the licence as we can't fund construction without the CATH money as things stand in official announcements
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Tommy implies soYou show me one document which states that AVZI has sold 24% of Dathcom to CATH.
All they have is an agreement to sell (the famous TIA), which either of the parties can cancel any time, even today!
But the 24% has not been sold, very simple.
Why do you think this 24% has not been sold as yet?
I don't think AVZ is as stupid as Cominière.
An important point to be bare and it is elusive because Tom was loose in logic, is to see that his logic implies subtracting ‘Dathomir’ 15-% twice.Yes I agree Tommy's logic is idiotic. That's why I said 'if we were stupid enough to then sell the 24% to CATH'. No chance we would do that.
Technically Tommy wrote 75 - 24 - 15 = 36 but the answer is still the same
And yes the AFR has been trying to push Zijin's propaganda that AVZ will lose control of Dathcom. When their original claim was countered by Nigel saying 'CATH are happy with 9% if needed' they switched to implying AVZ could lose control even without selling to CATH because allegedly both the Dathomir and Cominiere disputes are part of the 75% that AVZ legally own. So to the casual AFR reader AVZ could be left with 45% before the CATH deal. Which was my point.
Yes this is wrong, to be brutally honest as silly as Tommy's uneducated ramblings.Tommy implies so
An important point to be bare and it is elusive because Tom was loose in logic, is to see that his logic implies subtracting ‘Dathomir’ 15-% twice.
His optic was to show, AVZ was on precipice of losing majority control assuming CATH already has 24% from AVz
Correct if wrong, but is this the misleading conduct?
Not to forget the Boatman documents are fraudulent at the very least with first xerox on Zijin contract missing pages 2 & 3 which allow Boatman to concoct his optic and Tom likewise has his boat floated by Boatman
The use of a National Broadcaster to spread lies and mislead through concocted evidence l must be punishable
It wasn't a difficult riddle to be honest.Just keeping you on your toes Cruiser . You are correct .
This out of the original TIA announcement:So you reckon AVZ are hiding behind the fact we have a TIA with CATH instead of a normal sale as the reason for no Cominiere pre-emption notification?
Makes sense but it's a bit shady to announce the deal to the ASX without telling the JV partners first. Not that I care if Cominiere are getting rat fucked by this structuring haha
But it does give ammo to Cominiere with their 'AVZ don't have any money' claims which they have used to delay the finalising of the licence as we can't fund construction without the CATH money as things stand in official announcements
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@JAG
Love your two piccys - this one and the jail house pineapple
This one displayed here carries all the facets of beautiful corruption in one snap, and I piss myself laughing every time you post it
Could I suggest replacing Guy with Celestine in the Jail pic, to make the image current and appropriate?
TIA
On one hand we are saying we definitely have the money for construction but on the other we are saying Cominiere get no pre-emption because we technically haven't decided to sell because all we have is a transaction agreement. CATH can walk at anytime for 20m.Could you expand on this further for the thicker people like me?
We've got a signed sealed and delivered Financial study to accompany a robust DFS.
Is that not what is required to prove we have the financial capacity to build this mine?
In what way can it be construed that we don't have the funds backing us to do this?
Yep all looks good to meTO THE NEWBIES OUT THERE INCLUDING TOMMY WANKER FROM AFR
Current percentages of Dathcom as they stand.
AVZ 75%..................Subject to ICC dispute with DATHOMIR 15%
COM 15% / DRC 10%.......Com 15% subject to ROFR AVZ / ZIJIN ICC dispute
AVZ could have 90% control of Dathcom if both ICC deliberations are favourable
AVZ could have 60% control of Dathcom if both ICC deliberations are not favourable
Add CATH 24% to the mix
a) Assuming AVZ have 90% control, equation looks like this ( AVZ 66%, CATH 24%, DRC 10% ).........my preferred option
b) Assuming AVZ have 60% control , equation looks like this ( AVZ 36%, CATH 24%, ZIJIN 15%, DATHOMIR 15% , DRC 10% ).......Oooops, that cant happen cause AVZ dont have 51% operator control as per DRC mining law
c) Assuming AVZ have 60% control, equation must look like this ( AVZ 51%, CATH 9%, ZIJIN 15%, DATHOMIR 15%, DRC 10% )
That last equation would be a working nightmare with ZIJIN / DATHOMIR crooks having 30% , never the less, AVZ retain control, no matter what.
@Carlos Danger ................would i be correct in those scenarios ?
imo, imo