AVZ Discussion 2022

[Flight996]

If you want a view of where we could be headed, read the following:

In 2016, DIGOIL (a US oil and gas explorer) took the DRC govt to the International Court of Arbitration over the DRC's failure to honor two contracts for oil exploration and production, causing DIGOIL to incur significant losses and lose the opportunity to develop the oil fields (sound familiar?).

DIGOIL was vindicated, and awarded over $619 million in damages, including legal costs by the International Court of Arbitration in Paris (all good so far).

In 2019, the DRC govt appealed to the Paris Court of Appeal, which rejected the DRC's arguments and authorized enforcement of the arbitral award. DIGOIL then sought to confirm the award in the United States District Court for the District of Columbia, which entered a default judgment against the DRC and confirmed the arbitral award against them (three years later, still good).

Since the DRC is a signatory to the International Centre for Settlement of Investment Disputes (ICSID) Convention, and a Contracting State to the 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention), it is bound by its rules. If the DRC decides to not cough up any future settlement amount, the appellant can apply to have the DRC’s local assets forfeited in order to meet the arbital award (the appellant can also utilise the legal system of any other nation where the DRC has assets in order to get restitution).

If this is not resolved this year, we potentially risk a decade of court cases and appeals. Happy days…

Cheers
F

 

[Dijon101]

pretty sure he hasn't found the cheese yet

Peter Clark.
Turns up, posts rubbish in broken english, gets ridiculed, continues on with agenda.

Like ffs I think most of understand we invested in a country with MASSIVE sovereign risk. Our BoD followed all the rules, followed the mining code. Hired competent lawyers well versed in DRC laws . AVZ spent the money, did the exploration. We uncovered a monster deposit.

We then proceeded to get fucked over by corruption and the Chinese who wanted to take the resource illegally.

The law is on our side, corruption and dirty politics are not.

 

[John25]

The cavalry's arrived!

View attachment 36345

Hurry up Nut …running out of Time/Cash

 

[Dijon101]

If you want a view of where we could be headed, read the following:

In 2016, DIGOIL (a US oil and gas explorer) took the DRC govt to the International Court of Arbitration over the DRC's failure to honor two contracts for oil exploration and production, causing DIGOIL to incur significant losses and lose the opportunity to develop the oil fields (sound familiar?).

DIGOIL was vindicated, and awarded over $619 million in damages, including legal costs by the International Court of Arbitration in Paris (all good so far).

In 2019, the DRC govt appealed to the Paris Court of Appeal, which rejected the DRC's arguments and authorized enforcement of the arbitral award. DIGOIL then sought to confirm the award in the United States District Court for the District of Columbia, which entered a default judgment against the DRC and confirmed the arbitral award against them (three years later, still good).

Since the DRC is a signatory to the International Centre for Settlement of Investment Disputes (ICSID) Convention, and a Contracting State to the 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention), it is bound by its rules. If the DRC decides to not cough up any future settlement amount, the appellant can apply to have the DRC’s local assets forfeited in order to meet the arbital award (the appellant can also utilise the legal system of any other nation where the DRC has assets in order to get restitution).

If this is not resolved this year, we potentially risk a decade of court cases and appeals. Happy days…

Cheers
F

I don't think the DRC gives two shits about a ICC ruling or have any intention of abiding to any ruling or paying any fine.

The mentally of corruption is so engrained into the culture that I see little hope of change.

Absolute shit show. Tribalism, corruption, poverty, political instability, insurgency, warfare.

I feel sorry for the common people who have to put up with those higher up that just exploit them and their countries wealth for the benefit of the few.

Short sighted currupt fucking kunts running things.

 

[Flight996]

I don't think the DRC gives two shits about a ICC ruling or have any intention of abiding to any ruling or paying any fine.

The mentally of corruption is so engrained into the culture that I see little hope of change.

Absolute shit show. Tribalism, corruption, poverty, political instability, insurgency, warfare.

I feel sorry for the common people who have to put up with those higher up that just exploit them and their countries wealth for the benefit of the few.

Short sighted currupt fucking kunts running things.

I kinda think you are right Dijon 101

I don't know how this will play out, but suspect that a negotiated settlement of least worst outcomes is on the cards. Even the DRC govt, corrupt to the bone marrow as it is, doesn't want Manono tied up forever in litigation. After all it's destined for greatness through its principle place in the global electric revolution (haha).

Cheers
F

 

[Mr Clean]

Peter Clark.
Turns up, posts rubbish in broken english, gets ridiculed, continues on with agenda.

Like ffs I think most of understand we invested in a country with MASSIVE sovereign risk. Our BoD followed all the rules, followed the mining code. Hired competent lawyers well versed in DRC laws . AVZ spent the money, did the exploration. We uncovered a monster deposit.

We then proceeded to get fucked over by corruption and the Chinese who wanted to take the resource illegally.

The law is on our side, corruption and dirty politics are not.

Peter is a pet. He has his uses. If he didn’t say anything, it may have taken days before someone recognised the change on the CAMI portal.

 

[Azzler]

View attachment 36338

OMG PLEASE put this on twitter and tag him

 

[Retrobyte]

Graeme has given us a wink too ....

 

[MoneyBags1348]

Anyone who has read my comments knows…. I don’t like being here, but I do it because I want AVZ to succeed. Not just for me, also for shareholder’s I have developed relationships with as well as the poor people of Manono.

I’m holding off for the moment, but still gathering information and looking at ways to add it to any media promoting the DRC MINING WEEK events in June and September.

Mupande, CAMI and THE VUKA GROUP are front and centre of these events and if they want to keep fucking us around and now taking us off the CAMI portal, then we might as well let international investors know what doing business in the DRC involves.

I’m attaching my latest post on the DRC MINING WEEK thread and the link so shareholders can reach all the information on it. I don’t want comments tying the thread up, just want the facts clearly presented. I’ve provided clear facts and information, it’s up to shareholders to decide what they want to do

I’m not sure how many shareholders read this thread…. But there is more than enough evidence of corruption and extortion in the DRC mining sector to inform potential international investors ahead of the two DRC MINING WEEK events (June and September).

The evidence includes AVZ Minerals work (over the last 6 years in the DRC) developing the Manono Lithium Project as the majority shareholder in Dathcom, and includes the recent ICC (International Court of Arbitration) ruling, declaring Cominiere’s attempts to terminate AVZ’s partnership in the Dathcom joint venture as unlawful.

The evidence also shows that CAMI has now removed AVZ Minerals from holding the Exploration Rights (PR) on the 13359 tenement on the Landfolio Cadastre Map Portal

https://static1.squarespace.com/sta...230417+New+legal+action+to+affirm+interests+i

DRC MINING WEEK 2023

Here is the agenda of DRC Mining Week 2023 scheduled for June 14 to 16 in Lubumbashi As announced, DRC Mining Week opens its doors from June 14 to 16, 2023 at Karavia Hotel in Lubumbashi in the province of Haut-Katanga in the Democratic Republic of Congo (DRC). The day of June 14, 2023 is...

thestockexchange.com.au

 

[Spikerama]

OMG PLEASE put this on twitter and tag him

Don't be fuckin' stupid.

 

[MoneyBags1348]

My strategy regarding the above comments is that if we present enough information and apply enough pressure regarding the Mining Week events, the government might realise its doing them more harm than good by not openly supporting us.

I also noticed that on Cominiere’s website, there seems to be some changes to how many tenements Dathcom now have. I’m not going back through my notes to make comparisons, I just put the link here in case anyone else is interested in doing it

La Cominière SA

cominiere.cd

---

Partnership​

A. Contrats de Joint-venture​

CODE	TYPE	OBSERVATION	JV EN COULEUR
12202	PE	DECHU	MANOMIN
12203	PR		SEGMAL
12204	PR		SEGMAL
12205	PR		SEGMAL
12206	PR		COMINIERE
12436	PR		DATHCOM mining SAS
12437	PR		COMINIERE
12438	PR		UATT
12439	PR		UATT
12440	PR		UATT
12441	PR		UATT
12442	PR		TANbGANIKA
12443	PR		SOMIMI
12444	PR		SOMIMI
12445	PR		SOMIMI
12447	PR		UNITED COMINIERE SAS
12448	PR		UNITED COMINIERE SAS
12449	PR		DATHCOM mining SAS
12450	PR		DATHCOM mining SAS
12452	PR		LOND HAO COM
12453	PR		COMFORCE
12454	PR		DATHCOM mining SAS
12455	PR		UATT
12456	PR		SOMIMI
12457	PE		COMINIERE
12458	PR		TANbGANIKA
12459	PR		DATHCOM mining SAS
12460	PR		UNITED COMINIERE SAS
12461	PR		COMINIERE
12462	PR		UNITED COMINIERE SAS
12463	PR		COMINIERE
12707	PR		MURUMBI mineral
12708	PR		MURUMBI mineral
13065	PE		SEGMALE
13244	PE		UATT
13245	PE		UATT
13246	PE		UATT
13247	PE		COMFORCE
13348	PR		MINOCOM mining SAS
13359	PR		DATHCOM mining SAS
13698	PER		MINOCOM mining SAS

© Copyright La Cominière SA 2023

 

[cruiser51]

Council of minister has been and uneventful, chaired by the PM.

President was missing in action.

Still waiting for youtube availability of translation.

 

[DoubleA]

If you want a view of where we could be headed, read the following:

In 2016, DIGOIL (a US oil and gas explorer) took the DRC govt to the International Court of Arbitration over the DRC's failure to honor two contracts for oil exploration and production, causing DIGOIL to incur significant losses and lose the opportunity to develop the oil fields (sound familiar?).

DIGOIL was vindicated, and awarded over $619 million in damages, including legal costs by the International Court of Arbitration in Paris (all good so far).

In 2019, the DRC govt appealed to the Paris Court of Appeal, which rejected the DRC's arguments and authorized enforcement of the arbitral award. DIGOIL then sought to confirm the award in the United States District Court for the District of Columbia, which entered a default judgment against the DRC and confirmed the arbitral award against them (three years later, still good).

Since the DRC is a signatory to the International Centre for Settlement of Investment Disputes (ICSID) Convention, and a Contracting State to the 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention), it is bound by its rules. If the DRC decides to not cough up any future settlement amount, the appellant can apply to have the DRC’s local assets forfeited in order to meet the arbital award (the appellant can also utilise the legal system of any other nation where the DRC has assets in order to get restitution).

If this is not resolved this year, we potentially risk a decade of court cases and appeals. Happy days…

Cheers
F

Good find. Looks to be a 14 year+ dispute. I wonder what assets DRC has internationally. You would not think they would have too much especially if DIGOIL takes $600 million of these assets. How much will be left for AVZ haha? DRC seem to have agreed to negotiate but nothing has been paid yet.

The possibility of taking Zijin's assets could be lucrative as they have billions all over the world. Especially given there is evidence that Zijin's purchase of the 15% was not legal under DRC law and has no legal effect. How satisfying would it be to take some of their established mines off them?

The question is how would AVZ fund the 10-15 year battle.


Another article on DIGOIL:

https://africabriefing.org/us-court-ruling-could-allow-sa-oil-firm-to-seize-drc-assets/

A US court has confirmed a $619 million international arbitration award against the Democratic Republic of Congo (DRC), potentially enabling a South African junior oil company to begin proceedings to seize DRC commercial assets in America.


A federal judge in Washington last week granted DIG Oil’s motion for recognition and confirmation of a decision made by the Paris-based International Court of Arbitration in November 2018. The ruling is the latest development in a 14-year dispute between the firm and the DRC over oil rights.


DIG Oil ‘is seriously considering commencing enforcement proceedings in various international jurisdictions, seeking the full amount due to us,’ CEO Andrea Brown said by email.


The French tribunal determined that the DRC’s government failed to honour two production-sharing contracts signed when former president Joseph Kabila was in power and should pay DIG Oil $617.4 million. With costs, the Johannesburg-based company says it’s owed $619 million.


The oil ministry granted DIG Oil a contract for blocks in the centre of the country in December 2007, and another permit on Lake Albert to a group of investors including the company a month later.


The arbitration court agreed with DIG Oil that the DRC violated the second agreement by reallocating the Lake Albert licence in 2010 to a company controlled by Israeli billionaire Dan Gertler and failed to deliver presidential approval for the other blocks ‘within a reasonable time.’


The DRC, one of the world’s poorest countries, only had $671 million in reserves at the end of February, according to the most recent central bank data.


The award is registered in DIG Oil’s favour ‘with the same force and effect’ as if it ‘were a final judgment of this court,’ district judge Richard Leon ordered. The company filed the lawsuit in the US in 2020 and the DRC government was subsequently declared in default for failing to respond to a summons.


Discussions on a potential out-of-court settlement have faltered, according to Brown.


The government of President Felix Tshisekedi decided in May 2020 ‘to negotiate formally’ with DIG Oil and both sides ‘approved in principle’ a draft deal in December, she said.


Nine months later, ‘we have been very disturbed that no settlement agreement has been signed,’ Brown said.


A spokesperson for DRC’s government and another spokesperson for Tshisekedi didn’t immediately reply to messages seeking comment.

 

[Dijon101]

@MoneyBags1348

just feed me mushrooms and i'll be fine.. I just feel like having a good rant today

 

[cruiser51]

Good find. Looks to be a 14 year+ dispute. I wonder what assets DRC has internationally. You would not think they would have too much especially if DIGOIL takes $600 million of these assets. How much will be left for AVZ haha? DRC seem to have agreed to negotiate but nothing has been paid yet.

The possibility of taking Zijin's assets could be lucrative as they have billions all over the world. Especially given there is evidence that Zijin's purchase of the 15% was not legal under DRC law and has no legal effect. How satisfying would it be to take some of their established mines off them?

The question is how would AVZ fund the 10-15 year battle.


Another article on DIGOIL:

https://africabriefing.org/us-court-ruling-could-allow-sa-oil-firm-to-seize-drc-assets/

A US court has confirmed a $619 million international arbitration award against the Democratic Republic of Congo (DRC), potentially enabling a South African junior oil company to begin proceedings to seize DRC commercial assets in America.


A federal judge in Washington last week granted DIG Oil’s motion for recognition and confirmation of a decision made by the Paris-based International Court of Arbitration in November 2018. The ruling is the latest development in a 14-year dispute between the firm and the DRC over oil rights.


DIG Oil ‘is seriously considering commencing enforcement proceedings in various international jurisdictions, seeking the full amount due to us,’ CEO Andrea Brown said by email.


The French tribunal determined that the DRC’s government failed to honour two production-sharing contracts signed when former president Joseph Kabila was in power and should pay DIG Oil $617.4 million. With costs, the Johannesburg-based company says it’s owed $619 million.


The oil ministry granted DIG Oil a contract for blocks in the centre of the country in December 2007, and another permit on Lake Albert to a group of investors including the company a month later.


The arbitration court agreed with DIG Oil that the DRC violated the second agreement by reallocating the Lake Albert licence in 2010 to a company controlled by Israeli billionaire Dan Gertler and failed to deliver presidential approval for the other blocks ‘within a reasonable time.’


The DRC, one of the world’s poorest countries, only had $671 million in reserves at the end of February, according to the most recent central bank data.


The award is registered in DIG Oil’s favour ‘with the same force and effect’ as if it ‘were a final judgment of this court,’ district judge Richard Leon ordered. The company filed the lawsuit in the US in 2020 and the DRC government was subsequently declared in default for failing to respond to a summons.


Discussions on a potential out-of-court settlement have faltered, according to Brown.


The government of President Felix Tshisekedi decided in May 2020 ‘to negotiate formally’ with DIG Oil and both sides ‘approved in principle’ a draft deal in December, she said.


Nine months later, ‘we have been very disturbed that no settlement agreement has been signed,’ Brown said.


A spokesperson for DRC’s government and another spokesperson for Tshisekedi didn’t immediately reply to messages seeking comment.

DRC is shipping goods (diamond, gold, bulk materials, etc) out of the DRC which can be confiscated and sold on the open market.
Where there is a will there is always a way.

The brown bag contents of the corrupt individuals, are they stored under the bed or overseas banks?
Wouldn't be smart to put it in a DRC account.

 

[Flight996]

Good find. Looks to be a 14 year+ dispute. I wonder what assets DRC has internationally. You would not think they would have too much especially if DIGOIL takes $600 million of these assets. How much will be left for AVZ haha? DRC seem to have agreed to negotiate but nothing has been paid yet.

The possibility of taking Zijin's assets could be lucrative as they have billions all over the world. Especially given there is evidence that Zijin's purchase of the 15% was not legal under DRC law and has no legal effect. How satisfying would it be to take some of their established mines off them?

The question is how would AVZ fund the 10-15 year battle.


Another article on DIGOIL:

https://africabriefing.org/us-court-ruling-could-allow-sa-oil-firm-to-seize-drc-assets/

A US court has confirmed a $619 million international arbitration award against the Democratic Republic of Congo (DRC), potentially enabling a South African junior oil company to begin proceedings to seize DRC commercial assets in America.


A federal judge in Washington last week granted DIG Oil’s motion for recognition and confirmation of a decision made by the Paris-based International Court of Arbitration in November 2018. The ruling is the latest development in a 14-year dispute between the firm and the DRC over oil rights.


DIG Oil ‘is seriously considering commencing enforcement proceedings in various international jurisdictions, seeking the full amount due to us,’ CEO Andrea Brown said by email.


The French tribunal determined that the DRC’s government failed to honour two production-sharing contracts signed when former president Joseph Kabila was in power and should pay DIG Oil $617.4 million. With costs, the Johannesburg-based company says it’s owed $619 million.


The oil ministry granted DIG Oil a contract for blocks in the centre of the country in December 2007, and another permit on Lake Albert to a group of investors including the company a month later.


The arbitration court agreed with DIG Oil that the DRC violated the second agreement by reallocating the Lake Albert licence in 2010 to a company controlled by Israeli billionaire Dan Gertler and failed to deliver presidential approval for the other blocks ‘within a reasonable time.’


The DRC, one of the world’s poorest countries, only had $671 million in reserves at the end of February, according to the most recent central bank data.


The award is registered in DIG Oil’s favour ‘with the same force and effect’ as if it ‘were a final judgment of this court,’ district judge Richard Leon ordered. The company filed the lawsuit in the US in 2020 and the DRC government was subsequently declared in default for failing to respond to a summons.


Discussions on a potential out-of-court settlement have faltered, according to Brown.


The government of President Felix Tshisekedi decided in May 2020 ‘to negotiate formally’ with DIG Oil and both sides ‘approved in principle’ a draft deal in December, she said.


Nine months later, ‘we have been very disturbed that no settlement agreement has been signed,’ Brown said.


A spokesperson for DRC’s government and another spokesperson for Tshisekedi didn’t immediately reply to messages seeking comment.

Great context and detail DoubleA

Felix Tshisekedi is just another fat African leader strutting the world stage selling fairy dust. Meanwile back at Kinshasa his lieutenants plunder the treasury, and give away the county's heritage and future to similarly corrupt Chinese rodents. The DRC should be a wealthy nation, but instead it's just another basket case.

I honestly don't know what the future holds for us, but the Chinese seem to have millions of people slaving away furiously on devising new and novel ways to fuck over AVZ and steal Manono. You couldn't invent this shit.

Cheers
F

 

[cruiser51]

Council of minister has been and uneventful, chaired by the PM.

President was missing in action.

Still waiting for youtube availability of translation.

Translation available, settings, subtitles, translate to english.

 

[cruiser51]

Translation available, settings, subtitles, translate to english.

Mmmmm, this is the original one

 

[Flight996]

The top 25 shareholders in AVZ collectively hold 32.56% of SOI. That's approximately 1.1 billion shares, which is a lot of invested wealth. By comparison, AVZ board members, including Nigel Ferguson hold approx 85 million shares. Nigel Ferguson individually holds 54 million shares.

Among the top 25 shareholders are a number of Chinese entities and individuals. Yibin Tianyi Lithium company and Hau You International Mining are the two largest shareholders with 7.13 and 6.14 percent of shares respectively. They are both Chinese. I am not aware aware of their views or how they are managing their investments in AVZ. Maybe they like getting bent over and reamed by their more powerful corporate countrymen.

Just thinking out aloud and waiting for the footy to start.

Cheers
F

 

[Xerof]

But like me, those chinese shareholders (and probably most of the others too) paid very little for their shares - well under 10 cents, so the economic value to lose is zippo (even though the theoretical market value has been massive). Opportunity cost only, if they never see their funds again.

The current Chinese shareholders would see it as a sacrifice for the greater good - Zijin has little to lose, CATH has even less, but CHINA has everything to win by trying to screw us

Kunts

don't mean to be seen as taking their side, just having an Eyore moment