Samus
Top 20
We've had a series of overwhelmingly negative announcements and yet shareholders come up with all sorts of fanciful ways of somehow turning them into a positive or a great win by the legendary BOD.I think some maybe missing the point with the fact that ICSID is actually part of world bank.
World bank has been approving cash injections into DRC and being the source of improved access to community infrastructure and community-based reintegration programs etc ; 2 injections one at $900m and another at $250m have been approved over the last 4 months mainly targeting issues in the Eastern Provence’s ….. FT was given a $1m token for the eastern Provence’s issues on his visit to China.
3 weeks ago world bank pulled the handbrake on funding for humanitarian and development projects in the DRC worth more than $1 billion due to typical fuckery around large rooms of cash . FT was pretty quick to react and get the issues levelled out again.
Problem for DRC is that AVZs request for arbitration effectively through world bank doesn’t go to smooth out US corruption concerns and the funding sphincter has likely contracted somewhat , as new funding requests are highly likely to come with added Q&A pages . AVZ have followed the mining code and have been above board ; DRC ministers who would typical be used to channel funding to their required pigeon holes …. Well it’s proving , that they are not following rules … so would one be trusting enough, that the ministers are distributing the cash into all the appropriate accounts?
FT needs to be showing that corruption is on the decline ,as opposed to running around pouring trying to putting out reoccurring patch fires on a very regular occurrence .
Also it’s work googling advantages of ICSID v ICC .
It’s a request for ICSID at the moment ; so does FT want to come to the table and work it out or get another couple of amber watchdog lights lit up , send Manono into 1-3 year marathon whilst the rest of the lithium explorers start to move ahead and start production ; whilst at the end the ICSID would likely award it at the end anyway.
To me none of anything that has transpired over the past 13 months provides any form of confidence in this company or in working with the DRC moving forward.
You are probably right about all the above but I've given up keeping track or really caring, beyond wanting access to my funds anyway.
At this point my thoughts are that management need to entertain a takeover by whatever means necessary both to save their own skin and to free investors from this ongoing shitshow.
Hopefully this is the start of that process.
Who'd buy a stake in this crap for anything close to fair value I don't know. Maybe we'll see.