AVZ Discussion 2022
- Thread starter GazDix
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Sammy_da_Smile
Regular
Frank
Top 20
Manono lithium exploration permit yields 70% interest to AJN Resources
AJN Resources, a mining company based in Vancouver (Canada), announced on June 2, 2023, the conclusion of an agreement with the Congolese company Palm Constellation, based in Kinshasa in the Democratic Republic of Congo (DRC).
The latter will have to cede up to 70% interest in an exploration permit it holds in the Manono region, known to potentially host significant lithium resources.
Under the terms of the agreement, two payments totaling US$150,000 will initially be made to the seller by AJN.
The latter will have up to six months to carry out due diligence.
At the end of due diligence, which may include sampling work and a reduced drilling program, AJN must confirm its intention to proceed with the acquisition of the license by paying an additional $250,000, in order to obtain an indirect participation from 51% in the project.
"We are very excited about this latest acquisition which potentially covers 10 km2 of very promising terrain with good potential for the presence of subsurface lithium-bearing pegmatites", commented Klaus Eckhof, CEO of AJN Resources.
Note that the company will also have to issue in favor of Palm Constellation, a number of shares worth 10.5% of the total issued and outstanding shares of AJN.
By issuing an additional four (4) million shares to Palm, followed by a further payment of $250,000, AJN will obtain an additional 9% interest in the permit.
It will finally complete the acquisition of the 70% interest with a final payment of five (5) million dollars.
Exploration work until the conclusion of a possible definitive feasibility study will be financed by AJN.
The Manono region is home to a project of the same name, led by the Australian AVZ Minerals.
The Manono lithium project is considered the most advanced in the DRC and only the mining license is currently missing to launch the development of what could be the first lithium mine in the country.
mediacongo
Talk about "Things that make You go Hmm"
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GLTAH's
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Frank
AJN Resources, a mining company based in Vancouver (Canada), announced on June 2, 2023, the conclusion of an agreement with the Congolese company Palm Constellation, based in Kinshasa in the Democratic Republic of Congo (DRC).
The latter will have to cede up to 70% interest in an exploration permit it holds in the Manono region, known to potentially host significant lithium resources.
Under the terms of the agreement, two payments totaling US$150,000 will initially be made to the seller by AJN.
The latter will have up to six months to carry out due diligence.
At the end of due diligence, which may include sampling work and a reduced drilling program, AJN must confirm its intention to proceed with the acquisition of the license by paying an additional $250,000, in order to obtain an indirect participation from 51% in the project.
"We are very excited about this latest acquisition which potentially covers 10 km2 of very promising terrain with good potential for the presence of subsurface lithium-bearing pegmatites", commented Klaus Eckhof, CEO of AJN Resources.
Note that the company will also have to issue in favor of Palm Constellation, a number of shares worth 10.5% of the total issued and outstanding shares of AJN.
By issuing an additional four (4) million shares to Palm, followed by a further payment of $250,000, AJN will obtain an additional 9% interest in the permit.
It will finally complete the acquisition of the 70% interest with a final payment of five (5) million dollars.
Exploration work until the conclusion of a possible definitive feasibility study will be financed by AJN.
The Manono region is home to a project of the same name, led by the Australian AVZ Minerals.
The Manono lithium project is considered the most advanced in the DRC and only the mining license is currently missing to launch the development of what could be the first lithium mine in the country.
mediacongo
Talk about "Things that make You go Hmm"
Food for thought
GLTAH's
Cheers
Frank
Remark
Top 20
Hi Mil,
I think when "Carre" is used in mining / area terms it means "square", not the direct French to English translation of "edge".
I would say you are dead fucken right the only one in 18 months. As there is no info to the people that actually own the show all we get is 0.0% of all the info that's available to the company. It's bulshit of cause in my opinion. There are ways for a competent bod and coms to convey worry less but they don't. One of the best bod on the asx?I would say nobody knows and it is getting impossible to second-guess anything
Ps don't forget the tin in any equation.
I would say carré is square and 1 carré is 1 km2, or 1,000,000 m2.
Looking at 13359, which is 221 carré is approx. 7.5 km wide and approx. 29.5 km long, going by the scale on the cadastre map.
Last edited:
Point Piper Dealer
Member
Are you sure this is legitimate? Why do Nigel and Grahame have the same birth dates?
Dijon101
Regular
Don't believe a fucking thing until it's in an official AVZ announcement.....??
Did a quick search for Mr Johnsons birthday and couldn't find it ??
Zijins claim for damages is real. This would explain why they are claiming the equivalent of 15%ownership as stated in the AVZ ASX announcement.
Rediah
Regular
Lets say its fake, what purpose will it serve? What anyone will get out of making a false document? Will it increase buy sentiment and shoot the SP to Kuwaiti $12?
The other day SYA made an ASX announcement and used wrong office address' location.
Could be a simple clerical mistake, copy paste error missed in the proof reading if it was in place.
Even if it's fake, I am not going to lose sleep over this.
I tend to agree here. What purpose will it serve?
Dijon101
Regular
The old version posted by @9cardomaha has Mr Johnston’s DOB as 12/05/1962.
Attachments
Azzler
Top 20
So this (23/11/21) document doesn't show Zijin in Dathcom.
So is there a verson of this document that did include Zijin?
That would show that they were indeed removed.
Frank did mention in the past that Zijin were not on the Dathcom register.
Have they ever been?
Rhetorical at this point, I doubt anyone here knows.
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