AVZ Discussion 2022

[Winenut]

One more for ya...

 

[RHyNO]

That cominiere twitter account is fake. No tick. Like a mining company in SA would bother having a twitter and then just bait AVZ holders. I’m calling bullshit. Joined May 2023.

 

[wombat74]

Most likely CKK’s good mate Mills Tshibangu I reckon ; sounds like a typical third rate Journo ; doesn't have a clue about what he's going on about, but tries to spin a story whilst trying go convince you it's true, even though logic points to it's absolute horseshit and the story teller must be a dumb fark.

This idiot keeps spitting the dummy because all attempts to intimidate AVZ into doing what they want keep failing .

 

[Roon]

That cominiere twitter account is fake. No tick. Like a mining company in SA would bother having a twitter and then just bait AVZ holders. I’m calling bullshit. Joined May 2023.

After seeing that TV interview, which occurred around a similar time as this Twitter account was set up, I wouldn't actually put it past CKK to use this medium to attempt to push forward Cominiere's position. Just as likely bullshit, but it wouldn't necessary be that far afield from what I've seen of him...

 

[TDITD]

Most likely CKK’s good mate Mills Tshibangu I reckon ; sounds like a typical third rate Journo ; doesn't have a clue about what he's going on about, but tries to spin a story whilst trying go convince you it's true, even though logic points to it's absolute horseshit and the story teller must be a dumb fark.

This idiot keeps spitting the dummy because all attempts to intimidate AVZ into doing what they want keep failing .

Agreed, the criminals are failing so are trying to bait in desperation.
It's definitely a top-shelf moron so cannot count out that its not CKK, his interviews were exceptional, bloke should have a helmet on at all times.
The mental gymnastics used are admirable, but the logic is non-existent.

If the Government actually fell for this unintelligible drivel, It'd be a sure as shit sign to sell and run.

 

[TDITD]

To cheer you up I'll cover todays stock news for you...

Helium was up, feathers were down. Paper was stationary. Fluorescent tubing was dimmed in light trading. Knives were up sharply. Pencils lost a few points. Hiking equipment was trailing. Elevators rose, while escalators continued their slow decline. Weights were up in heavy trading.
Mining equipment hit rock bottom. Diapers remained unchanged. The market for raisins dried up. Balloon prices were inflated. And toilet paper touched a new bottom.

That last one gets me every time

What a shitty outcome for that last one

 

[Frank]

Fyi, There's some Ripping Posts on the Crapper that i'm Not going to Copy / Paste here, but

If any of you are interested in hearing more on Scarpa's thoughts on our Fishy story

*A corruption mess this has become, and the rotting fish head is all the way to the top, IMO.

*You wouldn't take the President of the DRC to court if you didn't think he was part of the problem, end of story.

His reply to Amovatio and Wombat

Then the Crapper is where its at

With Plenty of Food for thought

If you can stomach the Stench

Cheers

Frank

 

[Flight996]

View attachment 38202
Not impressed.... Can someone come fetch me out of this hole - been spiralling

Mate, I'm quietly confident of a negotiated resolution sooner rather than later. However, I am not Nostradamus.

The latest move by AVZ is internationally embarrassing for Kinshasa, and particularly so while it's in election mode.

It effectively halts the 2022 Zambia-DRC-USA MoU on electric battery manufacture, and the agreement to establish Special Economic Zones (SEZ) for the production of Battery Electric Vehicles in DRC and Zambia sponsored by the United Nations Economic Commission for Africa (ECA) and the African Export-Import Bank (Afreximbank).

It also shines the international spotlight on the butt-crack of this totally corrupt machine, and potentially puts at risk billions of dollars of World Bank and IMF funding tied to progress made in fighting corruption and improving governance.

As this thing unfolds and more corruption comes to light, the less appealing is the DRC for international commercial investment. The DRC has a clear interest in getting this solved quickly and off the front pages so it can go back to business as usual (milking international aid). China, however is probably salivating at the thought of a long gestation.

Oh, and happy birthday Chuck.

Cheers
F

 

[Carlos Danger]

You wouldn't take the President of the DRC to court if you didn't think he was part of the problem, end of story.

The three respondents listed in the ICSID case are the same three DRC officials that received a copy of Nigel's February 3rd letter regarding the survival of Dathcom's acquired rights. Most likely Felix being named is just a formal continuation of management and their lawyers legal reasoning on this matter imo

Worth noting that a copy of the letter was sent to two other parties. The Australian embassy for the DRC in Zimbabwe. And the DRC embassy de la gringos.

 

[RHyNO]

Settlement indeed! Give me $4.50 and I’m gone!

 

[aon]

Flight I'm with you on that summation, I think you have summed up the ICSID situation (shot over the bow) most eloquently and what the BOD is trying for. The French chiming in is simply perfect timing, the upcoming election will add (I would think) an extra layer of anxiety to FT, let's stress the arrogant f....g f... out as much as we can now, time to take the gloves off totally and inflict as much embarrassment as possible.
What's the response so far from FT.......pls don't do that Nige ....it hurts! LMFHOFF so does a kick to the....you $#%&*@

 

[TDITD]

Settlement indeed! Give me $4.50 and I’m gone!

Agreed RHyN)1980 $12
12

 

[wombat74]

AVZ takes Congo to Washington court over mine license​

Tom RichardsonMarkets reporter and commentator
Jun 12, 2023 – 2.21pm
Save
Share
AVZ Minerals has accused the Democratic Republic of Congo of unlawful behaviour in refusing to issue it a mining license for a major lithium deposit located in the country's south.
The Perth-headquartered lithium explorer late on Friday said it has lodged an arbitration request at the International Centre for Settlement of Investment Disputes in Washington, seeking unspecified remedies from the DRC for an alleged failure to comply with its own mining code.
“The company considers the conduct of the DRC to be unlawful and the company, together with the claimants, will take all actions necessary to protect the interests of its stakeholders,” AVZ said in a statement.

AVZ Minerals is tangled up in a dispute over ownership rights to what could be one of the world’s biggest lithium deposits. AVZ Minerals
The company, which had a market capitalisation of $2.75 billion, was suspended from the ASX in May 2022. The explorer faces separate legal fights with two of its joint venture partners in the DRC – Dathomir and Cominière – alongside a dispute with Chinese miner Zijin Mining.
In Australia, a class action is being prepared by Omni Bridgeway over AVZ’s alleged failure to disclose to investors the disputes over ownership rights to the project in the DRC, known as Manono, in 2021.

RELATED QUOTES​

Advertisement
The former lithium darling declined to answer earlier questions about what options it has to sell its ownership rights to the Manono project under the terms of the joint venture if it is unable to secure a mining licence.
It also declined to answer questions as to when it may return to trade and what actions it has taken to secure a mining license, as shareholder frustration mounts.

Escalating dispute​

Cominière, the Congolese state owned mining body, is believed to have notified AVZ of its intention to terminate their joint venture partnership to develop the Manono project in December. However, AVZ has refused to accept the project’s termination unless it’s ordered by the International Chamber of Commerce.
On May 5, AVZ said an ICC adjudicator had granted it injunctive relief to prevent Cominière from taking any steps to dissolve the joint venture before the DRC courts.
But Cominière is seeking $US566 million ($843 million) in damages from AVZ for what it says is financial loss incurred as a result of the company’s alleged mismanagement and failure to abide by the terms of the joint venture agreement.

Separately, Zijin Mining has applied to the ICC to have a complaint heard against AVZ for what it claims is a failure to recognise its 15 per cent ownership interest in the project and seeks $US850 million in compensation.
A hearing to decide whether Zijin is entitled to make a claim against AVZ at the ICC is scheduled for July 3.

 

[Winenut]

Agreed RHyN)1980 $12
12

 

[BEISHA]

AVZ takes Congo to Washington court over mine license​

Tom RichardsonMarkets reporter and commentator
Jun 12, 2023 – 2.21pm
Save
Share
AVZ Minerals has accused the Democratic Republic of Congo of unlawful behaviour in refusing to issue it a mining license for a major lithium deposit located in the country's south.
The Perth-headquartered lithium explorer late on Friday said it has lodged an arbitration request at the International Centre for Settlement of Investment Disputes in Washington, seeking unspecified remedies from the DRC for an alleged failure to comply with its own mining code.
“The company considers the conduct of the DRC to be unlawful and the company, together with the claimants, will take all actions necessary to protect the interests of its stakeholders,” AVZ said in a statement.

AVZ Minerals is tangled up in a dispute over ownership rights to what could be one of the world’s biggest lithium deposits. AVZ Minerals
The company, which had a market capitalisation of $2.75 billion, was suspended from the ASX in May 2022. The explorer faces separate legal fights with two of its joint venture partners in the DRC – Dathomir and Cominière – alongside a dispute with Chinese miner Zijin Mining.
In Australia, a class action is being prepared by Omni Bridgeway over AVZ’s alleged failure to disclose to investors the disputes over ownership rights to the project in the DRC, known as Manono, in 2021.

RELATED QUOTES​

Advertisement
The former lithium darling declined to answer earlier questions about what options it has to sell its ownership rights to the Manono project under the terms of the joint venture if it is unable to secure a mining licence.
It also declined to answer questions as to when it may return to trade and what actions it has taken to secure a mining license, as shareholder frustration mounts.

Escalating dispute​

Cominière, the Congolese state owned mining body, is believed to have notified AVZ of its intention to terminate their joint venture partnership to develop the Manono project in December. However, AVZ has refused to accept the project’s termination unless it’s ordered by the International Chamber of Commerce.
On May 5, AVZ said an ICC adjudicator had granted it injunctive relief to prevent Cominière from taking any steps to dissolve the joint venture before the DRC courts.
But Cominière is seeking $US566 million ($843 million) in damages from AVZ for what it says is financial loss incurred as a result of the company’s alleged mismanagement and failure to abide by the terms of the joint venture agreement.

Separately, Zijin Mining has applied to the ICC to have a complaint heard against AVZ for what it claims is a failure to recognise its 15 per cent ownership interest in the project and seeks $US850 million in compensation.
A hearing to decide whether Zijin is entitled to make a claim against AVZ at the ICC is scheduled for July 3.

 

[BEISHA]

Fyi, There's some Ripping Posts on the Crapper that i'm Not going to Copy / Paste here, but

If any of you are interested in hearing more on Scarpa's thoughts on our Fishy story

*A corruption mess this has become, and the rotting fish head is all the way to the top, IMO.

*You wouldn't take the President of the DRC to court if you didn't think he was part of the problem, end of story.

His reply to Amovatio and Wombat

Then the Crapper is where its at

With Plenty of Food for thought

If you can stomach the Stench

Cheers

Frank

Great post from Scarpa, totally resonates with how I feel and most others here I suspect.

" the fish stench leads right to the top"

Absolutely.

Why Scarpa continues to post on that other fish stench forum I will never know , Qball too for that matter....

Imo

 

[Xerof]

Great post from Scarpa, totally resonates with how I feel and most others here I suspect.

" the fish stench leads right to the top"

Absolutely.

Why Scarpa continues to post on that other fish stench forum I will never know , Qball too for that matter....

Imo

There no VB supplied here

 

[Roon]

AVZ takes Congo to Washington court over mine license​

Tom RichardsonMarkets reporter and commentator
Jun 12, 2023 – 2.21pm
Save
Share
AVZ Minerals has accused the Democratic Republic of Congo of unlawful behaviour in refusing to issue it a mining license for a major lithium deposit located in the country's south.
The Perth-headquartered lithium explorer late on Friday said it has lodged an arbitration request at the International Centre for Settlement of Investment Disputes in Washington, seeking unspecified remedies from the DRC for an alleged failure to comply with its own mining code.
“The company considers the conduct of the DRC to be unlawful and the company, together with the claimants, will take all actions necessary to protect the interests of its stakeholders,” AVZ said in a statement.

AVZ Minerals is tangled up in a dispute over ownership rights to what could be one of the world’s biggest lithium deposits. AVZ Minerals
The company, which had a market capitalisation of $2.75 billion, was suspended from the ASX in May 2022. The explorer faces separate legal fights with two of its joint venture partners in the DRC – Dathomir and Cominière – alongside a dispute with Chinese miner Zijin Mining.
In Australia, a class action is being prepared by Omni Bridgeway over AVZ’s alleged failure to disclose to investors the disputes over ownership rights to the project in the DRC, known as Manono, in 2021.

RELATED QUOTES​

Advertisement
The former lithium darling declined to answer earlier questions about what options it has to sell its ownership rights to the Manono project under the terms of the joint venture if it is unable to secure a mining licence.
It also declined to answer questions as to when it may return to trade and what actions it has taken to secure a mining license, as shareholder frustration mounts.

Escalating dispute​

Cominière, the Congolese state owned mining body, is believed to have notified AVZ of its intention to terminate their joint venture partnership to develop the Manono project in December. However, AVZ has refused to accept the project’s termination unless it’s ordered by the International Chamber of Commerce.
On May 5, AVZ said an ICC adjudicator had granted it injunctive relief to prevent Cominière from taking any steps to dissolve the joint venture before the DRC courts.
But Cominière is seeking $US566 million ($843 million) in damages from AVZ for what it says is financial loss incurred as a result of the company’s alleged mismanagement and failure to abide by the terms of the joint venture agreement.

Separately, Zijin Mining has applied to the ICC to have a complaint heard against AVZ for what it claims is a failure to recognise its 15 per cent ownership interest in the project and seeks $US850 million in compensation.
A hearing to decide whether Zijin is entitled to make a claim against AVZ at the ICC is scheduled for July 3.

Bit more accuracy this time around - including reflecting Zijin remains outside the JV partners as recent document copied here by 9Card attests. Must have editors breathing down neck. Still managed to get his needling narrative in though when reading between lines.

 

[Goldenboy]

Scarpas post for those that won't cross the border

I posted a while ago that I didn't think Felix was on our side, or if he was, didn't care enough to act to sort this mess out and show others he was serious on stamping out corruption, and this latest action by AVZ illustrates that too. My previous views are here - Post #:67992648 and Post #:66110039

This would almost be in production now if this mess had not occurred last May 2022. Now this mess simply benefits existing producers and those entering production shortly as the supply demand imbalance will not be addressed in the near term, meaning spodumene prices will continue to remain well above what most put in to their respective DFSs.

Which takes me to this point - AVZ's place in the development queue has been taken by others, and if this issue is not resolved in the near term, I doubt this will get to production this side of 2028 - 2030, and the DRC now needs to work out whether it wants to be a battery hub or not.

My next point is that if you were an serious exploration play to day looking for opportunity, there is no way on earth now you would commit any funds to exploring in the DRC which means that the DRC is going to have to rely on its own exploration endeavors which it is known they are hopeless at - hence why AVZ got exploration permit in the first place because Comminere even admitted they weren't good explorers in that interview their head did - or simply roll over and let China dictate its terms. At the end of the day Manono is a mine, but someone needs to pay for the transport system developments and I can't see western countries/world bank putting up funds with the stench of corruption hanging over mineral ownerships

As I said in the past, all this could go away if Felix had issued a Mining Lease, but now it is obvious that the rotting fish head in the DRC is all the way to the top. How DRC deals with this development from AVZ will determine whether DRC is simply a playground for China or not, because I doubt any more exploration dollars by anyone else will go there. At the end of the day who would to explore in the DRC when there is the threat if you fond something it will be taken of you.

Having said that, AVZ, and it has been my opinion for some time, should have cut a deal when it was clear that production and development timeframes would be blown for a 2025 start up date, and there is no way on earth IMO this will get to mining this side of 2025 even if a ML is issued tomorrow (and that is the biggest issue now). Now all sides have dug in, so it is really a case for DRC to deal with if they want this to get to mining anytime soon, because court actions will take time, and probably a year or two or longer.

The longer this drags out the timeframe to production moves further and further down the road, and others continue to take AVZ's place in the development queue. The other key threat is what is going on in Quebec because some of the hits by emerging exploration plays there are pretty good, and if any of those get to DFS well Manono development gets pushed even further down the track. A lot of the developments in Quebec have happened post May 2022 by the way

A corruption mess this has become, and the rotting fish head is all the way to the top, IMO. You wouldn't take the President of the DRC to court if you didn't think he was part of the problem, end of sytory.

This Ann is not good news and shouldn't be viewed as a positive- unless DRC changes its way, or a solution is reached that doesn't involve the courts, we are talking years here, and I suspect AVZ will be delisted from the ASX next year unless DRC comes to teh party or AVZ strikes a deal.

As a final point, the information is out there now, and I am also now wondering whether AVZ should continue to remain in suspension?? (Yes it is a question). Yes relisting now will have consequences for the SP, but been delisted probably does to.

All IMO IMO

 

[David Krappenschitz]

Maybe my memory is fuzzy, but i recall someone posting that listed in the itinerary for DRC mining week event is a conversation about cooperation between mining partners and discussing Manono specifically?