AVZ Discussion 2022

[BEISHA]

Hot and fiery amongst a few posters today..........

Some say we are going back to hot crapper standards...............

Are you kidding me ?

Apart from a few individuals measuring the size of their umbrella handle, intell still amazing.........right or wrong.!!

What would you rather have....................read TOLATE / BRUCE 15 - 25 times a day having a sook and scrolling thru countless pages finding a bit of intelligence at HC ?

Or read amazing intell , fiery debates, with a few upper cuts in between at TSE ?

Just remember folks, for those who have a bit of extra testosterone towards certain individuals, or just want to improve their viewing pleasure, may i suggest this..........

 

[John Reed]

Probably not.
I previously searched Zijin's half-year and full-year accounts, and did not find a line item that approximates $US28 million. I also emailed Zijin's office about the balance, but no response.

Cheers

What exchange rate did you use?

This 213,203,408 RMB comes to about $30mil USD

 

[LX600]

According to Zijin Annual report, $33m was fully paid

 

[Azzler]

Hi here is Peter. I'm back with my broken english, sorry for that. And yes, i put up with the discrimination of some people here. Too bad that it is tolerated in a forum. But no matter what counts is AVZ.

I've had a thought in my head since this morning that I can't let go of. What do Cominiere and Zijn want compensation for? Can anyone help me with this question?

Exactly my thoughts too and I'm kinda scratching my head why no one is really talking about this.
If they're seeking damages for their claimed ownership, wouldn't that imply they've been removed from the project?
Otherwise what are the damages for?

 

[Flight996]

What exchange rate did you use?

This 213,203,408 RMB comes to about $30mil USD

Yup, that's approximately $34,197,947.12 US Dollars (USD)

I'm not an accountant, so I am happy to be proven wrong, but isn't this line item within Zijin's Annual Report about the change in value of its investment, rather than expenditure?
In other words, it's the initial value at start of reporting period vs final value at end of reporting period.

Cheers
F
https://www.unitconverters.net/currency/cny-to-usd.htm
https://themoneyconverter.com/CNY/USD

 

[Onthefm]

Exactly my thoughts too and I'm kinda scratching my head why no one is really talking about this.
If they're seeking damages for their claimed ownership, wouldn't that imply they've been removed from the project?
Otherwise what are the damages for?

I think everyone is to scared to dream. After all the let downs. I know I am. But here's hoping.

 

[Frank]

You've just got to fucking laugh at this point.

 

[Azzler]

I think everyone is to scared to dream. After all the let downs. I know I am. But here's hoping.

Well to be honest I'm hoping someone might shut me down with any other possible explanation.

 

[John Reed]

Yup, that's approximately $34,197,947.12 US Dollars (USD)

I'm not an accountant, so I am happy to be proven wrong, but isn't this line item about the change in value of its investment, rather than expenditure?
In other words, it's the initial value at start of reporting period vs final value at end of reporting period.

Cheers
F
https://www.unitconverters.net/currency/cny-to-usd.htm
https://themoneyconverter.com/CNY/USD

I think this is published in 2023 for 2022. So, at the end, is my assumption.

That’s it’s heading:

Zijin Mining Settlement Co.
Notes to the Financial Statements (continued)
For the year 2022
V. NOTES TO MAJOR ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
13.
Long-term equity investments (continued)

====

紫金矿业集困股份有限公司


财务报表附注（续）


2022年度


五、合并财务报表主要项目注释（续）


13.


长期股权投资（续）

===

This is the column heading:
年初余额 = Balance at the beginning of the year

===

There’s nothing under gains and losses attributed.

===

There’s an exchange adjustment “汇兑调整” 24,213,937


=====

To me this is still opaque and wouldn’t pass grade 11 maths in society subject at my high school, because where’s the exchange rate?
Big accountants think they’re too call for detail

 

[Frank]

 

[MoneyBags1348]

Exactly my thoughts too and I'm kinda scratching my head why no one is really talking about this.
If they're seeking damages for their claimed ownership, wouldn't that imply they've been removed from the project?
Otherwise what are the damages for?

More nonsense by Zijin to draw out the process…. Remember this from teabag:

Chinese mining giant Zijin Mining has blamed ASX-listed AVZ for the decision by the Democratic Republic of Congo to revoke a mining licence for the Manono lithium tenement, reputed to be among the largest untapped lithium deposits in the world.

Zijin claims a 15 per cent ownership interest in Manono, with AVZ claiming a 75 per cent ownership interest. Democratic Republic of Congo’s (DRC) Minister of Mines revoked the licence on January 28.

“We encourage AVZ to show greater cooperation with other Dathcom shareholders,” said Ms Chen Chen, Zijin Mining’s in-house legal counsel.

“It is regrettable that AVZ has caused the Manono project to stall. Zijin will continue to work closely with relevant parties to progress the development of the Manono Project, to the benefit of local DRC communities.”

I know in this case Zijin and Ms Chen Chen are just greedy slimes…. normally you could wonder how people become so deluded, but then when you are on this forum on daily basis, deluded seems to be the normal

Don’t you agree my new mate @cruiser51!

@Frank
Nothing from johnno tonight? C’mon!

@BEISHA
I’m wondering if that silly looking Robin Hood is John (you know who). Getting hard to mention names here without getting modded, even made up ones like John (you know who)

Just having a bit of fun before I go to bed…. I did like that bit about “the largest untapped lithium deposit in the world”

 

[Flight996]

I think this is published in 2023 for 2022. So, at the end, is my assumption.

That’s it’s heading:

Zijin Mining Settlement Co.
Notes to the Financial Statements (continued)
For the year 2022
V. NOTES TO MAJOR ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
13.
Long-term equity investments (continued)

====

紫金矿业集困股份有限公司


财务报表附注（续）


2022年度


五、合并财务报表主要项目注释（续）


13.


长期股权投资（续）

===

This is the column heading:
年初余额 = Balance at the beginning of the year

===

There’s nothing under gains and losses attributed.

===

There’s an exchange adjustment “汇兑调整” 24,213,937


=====

To me this is still opaque and wouldn’t pass grade 11 maths in society subject at my high school, because where’s the exchange rate?
Big accountants think they’re too call for detail

Hi John

You are right about it being opaque. But it appears to be notes to the Balance Sheet, rather than a Cashflow Statement, so it indicates the change in values of the asset over the reporting period, rather than expentiture.
I think Zijin 'bought' 15% of Dathcom in 2021, so I might have another look at the 2021 Annual Rpt.
And my head hurts from 12 months of relentless DRC/Chinese attacks, and I can't read Chinese.

Cheers
F

 

[Frank]

 

[Frank]

Meanwhile, back at the ranch

* Meanwhile, Back at Botswana

In Botswana, President Félix Tshisekedi praises the work of the IGF

The President of the Republic, Félix Tshisekedi, took part in the Gaberone economic forum, in Botswana, which brought together Congolese and Botswana entrepreneurs.

These foundations were sanctioned by the signing of a partnership between the Botswana Investment and Trade Center and the National Agency for the Promotion of Investments (ANAPI).

In his speech for the occasion, the Head of State mentioned the efforts made since his accession to the highest office in the DRC to improve the business climate in the country.

Felix Tshisekedi praised the work done, under his leadership, by specialized structures supposed to improve economic governance, including the General Inspectorate of Finance (IGF).

"This table would be incomplete if it did not mention the efforts undertaken to improve the quality of our economic governance by specialized structures, in particular the General Inspectorate of Finance which carries out financial patrols, the Agency for the Prevention and the Fight against corruption, the National Financial Intelligence Unit which stems from our firm desire to create optimal conditions for the development of our country”, remarked Félix Tshisekedi.

The President of the Republic added "that for this purpose, the implementation of the Local Development Program of the 145 territories of the Democratic Republic of Congo, aims to provide the whole country with basic infrastructure without which the private initiative that creates wealth and drives development cannot prosper".

The General Inspectorate of Finance spares no effort to fight against the embezzlement of public funds and thus contribute to the mobilization of revenue.

Jules Alingete is convinced that the financial patrol remains the main key to the eradication of anti-values in public management.

mediacongo

 

[Mr Inappropriate]

More nonsense by Zijin to draw out the process…. Remember this from teabag:

Chinese mining giant Zijin Mining has blamed ASX-listed AVZ for the decision by the Democratic Republic of Congo to revoke a mining licence for the Manono lithium tenement, reputed to be among the largest untapped lithium deposits in the world.

Zijin claims a 15 per cent ownership interest in Manono, with AVZ claiming a 75 per cent ownership interest. Democratic Republic of Congo’s (DRC) Minister of Mines revoked the licence on January 28.

“We encourage AVZ to show greater cooperation with other Dathcom shareholders,” said Ms Chen Chen, Zijin Mining’s in-house legal counsel.

“It is regrettable that AVZ has caused the Manono project to stall. Zijin will continue to work closely with relevant parties to progress the development of the Manono Project, to the benefit of local DRC communities.”

I know in this case Zijin and Ms Chen Chen are just greedy slimes…. normally you could wonder how people become so deluded, but then when you are on this forum on daily basis, the deluded becomes the normal

Don’t agree my new mate @cruiser51!

USER=1421]@Frank[/USER]
Nothing from johnno tonight? C’mon!

@BEISHA
I’m wondering if that silly looking Robin Hood is John (you know who). Getting hard to mention names here, even made up ones like John (you know who)

Just having a bit of fun before I go to bed…. I did like that bit about “the largest untapped lithium deposit in the world”

“Chinese mining giant Zijin Mining has blamed ASX-listed AVZ for the decision by the Democratic Republic of Congo to revoke a mining licence for the Manono lithium tenement”

I wonder if history will show this as the moment that DRC government accidentally did us a favour?

 

[MoneyBags1348]

“Chinese mining giant Zijin Mining has blamed ASX-listed AVZ for the decision by the Democratic Republic of Congo to revoke a mining licence for the Manono lithium tenement”

I wonder if history will show this as the moment that DRC government accidentally did us a favour?

I don’t know Mr I, but I never got to thank you before for some kind words you had for me when I got suspended a few weeks back…. I hope this is appropriate

 

[BEISHA]

You've just got to fucking laugh at this point.

Yep, definitely need to laugh.

Here, enjoy this bud.

WARNING............Its a bit RUDE

 

[Hudnut]

Exactly my thoughts too and I'm kinda scratching my head why no one is really talking about this.
If they're seeking damages for their claimed ownership, wouldn't that imply they've been removed from the project?
Otherwise what are the damages for?

I'm guessing either:
a) There really isn't any reasoning behind the numbers. It's a ploy to tie us up further until the election and they attempt to get someone more sympathetic in power, or hope we run out of money. Especially when there is already the existing Cominiere ICC case against us which would invalidate this one in the event it is unsuccessful. Having Z attached to the case is a way of allowing Z to bankroll it.

b) They are claiming they should be in control of the project somehow, and the reason is AVZ riding roughshod and acting without consultation against the terms of the JV as they have whinged about in the past against all available evidence. If Cominiere were allowed to dissolve the JV, they would have Manono, and Z is there to bankroll the case and claim 15% as a fee for doing so. I assume Z would be lining up to "buy" more if successful.

 

[CashKing]

I think everyone is to scared to dream. After all the let downs. I know I am. But here's hoping.

I quit my job of 20 years today so Fuck it YOLO mate…

I’m daring to DREAM BIGGER…

GLTAH