Carlos Danger
Top 20
A lot of people make the mistake of thinking that the lesson of the pied piper is to not trust strangers. But it's not. The moral of the story is to always pay people what they are owed.
AVZ Discussion 2022
- Thread starter GazDix
- Start date
Samus
Top 20
Put it this way - I'm not interested in following Nigel off a cliff like a fucking lemming (again).
Winenut
Go AVZ!
Why isn't there an "oh fuck me are you kidding?" emoji*Don't Shoot the Messenger, Cos the messenger is going to
Just like the rest of you after reading this pile of
View attachment 38633
Dead right
Winenut
Go AVZ!
It wasn't about pulling the pin and chasing other projects....it was about becoming a fucking serious mining player on the world scene on the back of Manono and then expanding from there......well.....at least that's what I thought at the timeThanks Carlos appreciate your insight as always.
You answered the question I was trying to ask
Your answer has jogged a memory from either the last AGM or Perth RS in which Nigel mentioned pulling the pin and chasing another project (hazy memory but I think it was in the context of AVZ being unsuccessful in getting the ML).
Sheer fatigue for a start. Hard to imagine Nigel and the BOD would have the required appetite and stamina to now build a mine after enduring the head-fuck they've had to go thru just to get a ML. Armed with a ML the prospect of a decent TO presents as a get-out-of-jail card. Forget the DRC and GTFO. IMO.
Frank
Top 20
*Fyi, Hot off the Press at Media Congo / EconomieIt wasn't about pulling the pin and chasing other projects....it was about becoming a fucking serious mining player on the world scene on the back of Manono and then expanding from there......well.....at least that's what I thought at the time
Manono lithium project: AVZ sues Congo in Washington court over mining license
AVZ Minerals has accused the Democratic Republic of Congo of having acted illegally by refusing to issue it an exploitation license for a large lithium deposit located in the south of the country.
The Perth-headquartered lithium explorer said late Friday that it had filed for arbitration with the International Center for Settlement of Investment Disputes in Washington, DC, seeking unpaid remedies. specified on the part of the DRC, which would not have respected its own mining code.
“The company considers the conduct of the DRC to be illegal and the company, together with the plaintiffs, will take all necessary measures to protect the interests of its stakeholders,” AVZ said in a statement.
The company, which had a market capitalization of $2.75 billion, was suspended from the ASX in May 2022.
The explorer faces separate legal disputes with two of its joint venture partners in the DRC – Dathomir and Cominière – as well as a dispute with Chinese miner Zijin Mining.
In Australia, a class action is being prepared by Omni Bridgeway on the grounds that AVZ allegedly failed to disclose disputes over ownership rights to the DRC project, known as Manono, to investors in 2021.
The former lithium industry darling declined to answer earlier questions about the options it has to sell its ownership rights to the Manono project under the joint venture if it fails to secure an operating license mining.
It also declined to answer questions about when it might return to the market and what steps it has taken to obtain a mining license, as shareholder frustration mounts.
Cominière, the Congolese state mining body, reportedly notified AVZ of its intention to end their joint venture partnership to develop the Manono project in December.
However, AVZ refused to agree to the termination of the project unless ordered by the International Chamber of Commerce.
On May 5, AVZ said an ICC arbitrator had granted it an injunction to prevent Cominière from taking steps to dissolve the joint venture in DRC courts.
However, Cominière is seeking US$566 million ($843 million) in damages from AVZ for what it considers financial loss resulting from the company's alleged mismanagement and breach of the terms of the agreement. joint venture agreement.
Separately, Zijin Mining has asked the ICC to investigate a complaint against AVZ for what it claims is a non-recognition of its 15% stake in the project and is seeking US$850 million in compensation.
A hearing to determine whether Zijin is entitled to file a complaint against AVZ with the TCC is scheduled for July 3.
Winenut
Go AVZ!
Frank
Top 20
*To Remind, Unfortunately it won't let me Translate from French, but you'll get the Drift of it easily enough
Bradage des actifs miniers de la COMINIERE : Jules Alingete accable Adèle Kanyinda et les dirigeants de cette entreprise
Un vrai scandale ! Un rapport de l’Inspection générale des finances (IGF), daté 30 novembre 2022, dont Exclusif s’est procuré une copie, met à nu le bradage planifié des actifs miniers de l
exclusifrdc.com
Frank
Top 20
Carlos Danger
Top 20
Sheer fatigue isn't in the best interest of shareholders. Management have a duty to maximise long term value so having the licence would make a decision to sell much more difficult. The point of my question was it's easier for Felix to promise the licence and a cheaper acquisition for a potential buyer in exchange for guarantees about battery plants being built in the DRC.
At this stage of the game I don't care for it's abundantly clear they have Felix's ear and we don't. And China won't give up.
That's all one needs to know to realise the dream of an excellent mining adventure in the DRC is now folly.
After six long years I'm now about recovering capital and finally taking profits. Over it. Life's too short.
GLTAH.
Winenut
Go AVZ!
Then have another one tonight and make it $20...
marksmann007
Regular
I need to work on having better dreams.
In my dream we got a shareholder update from AVZ management.
In my dream we got a shareholder update from AVZ management.
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