Cumquat Cap
Regular
Felix found another wealthy country to exploit babyyyyyyy - could they be in the fold for a potential TO if it goes that way?
AVZ Discussion 2022
- Thread starter GazDix
- Start date
Frank
Top 20
*Fyi, In other News, I see where the DRC already has a few $Billion to put towards our ICSID settlement
Mine in the DRC: the Chinese CMOC has agreed to pay 2 billion dollars to its Congolese partner
Chinese mining group CMOC has agreed to pay its domestic partner in the Democratic Republic of Congo, Gécamines, $2 billion to settle a dispute over royalties related to a mining joint venture, according to a stock market filing released Tuesday.
After months of legal disputes, an agreement was reached last April between the Chinese group CMOC, which owns 80% of the Tenke Fungurume mine (TFM, south-east) and its Congolese partner, the public mining company Gécamines, but details had not been disclosed.
Gécamines accusing the Chinese group of concealing information on the size of its reserves, the huge mine had been hit with an export ban between July 2022 and April, leading to the immobilization of tens of thousands of tonnes of copper and of cobalt.
Since the conclusion of the agreement, the CMOC group has gradually begun to dispose of these huge stocks, representing for cobalt powder no less than 7% of the world's annual production in 2022.
This dispute coincided with the stated desire of the DRC to renegotiate more widely contracts that it deems to its disadvantage.
The president, Felix Tshisekedi, went to China at the end of May to discuss, among other things, Chinese mining contracts.
Details of the TFM deal were only released on Tuesday, when CMOC said in a stock market filing that the mine would pay Gécamines $800 million in compensation payment and at least $1.2 billion in dividends on several years.
Going forward, “Gécamines will be entitled to 20% of the total value of the subcontracting of the project and the right to acquire a production volume proportional to its 20% stake in TFM at market conditions and in the respect for Congolese laws,” added the CMOC.
The largest producer of minerals in Africa, the Democratic Republic of Congo provides more than 70% of the world's cobalt, an essential metal in particular for the manufacture of batteries used in electronics and electric cars.
The Tenke Fungurume mine is the second largest cobalt mine in the world.
It was producing around 20,000 tonnes of copper and 1,500 tonnes of cobalt per month until 2022, according to company figures.
mediacongo
Mine in the DRC: the Chinese CMOC has agreed to pay 2 billion dollars to its Congolese partner
Chinese mining group CMOC has agreed to pay its domestic partner in the Democratic Republic of Congo, Gécamines, $2 billion to settle a dispute over royalties related to a mining joint venture, according to a stock market filing released Tuesday.
After months of legal disputes, an agreement was reached last April between the Chinese group CMOC, which owns 80% of the Tenke Fungurume mine (TFM, south-east) and its Congolese partner, the public mining company Gécamines, but details had not been disclosed.
Gécamines accusing the Chinese group of concealing information on the size of its reserves, the huge mine had been hit with an export ban between July 2022 and April, leading to the immobilization of tens of thousands of tonnes of copper and of cobalt.
Since the conclusion of the agreement, the CMOC group has gradually begun to dispose of these huge stocks, representing for cobalt powder no less than 7% of the world's annual production in 2022.
This dispute coincided with the stated desire of the DRC to renegotiate more widely contracts that it deems to its disadvantage.
The president, Felix Tshisekedi, went to China at the end of May to discuss, among other things, Chinese mining contracts.
Details of the TFM deal were only released on Tuesday, when CMOC said in a stock market filing that the mine would pay Gécamines $800 million in compensation payment and at least $1.2 billion in dividends on several years.
Going forward, “Gécamines will be entitled to 20% of the total value of the subcontracting of the project and the right to acquire a production volume proportional to its 20% stake in TFM at market conditions and in the respect for Congolese laws,” added the CMOC.
The largest producer of minerals in Africa, the Democratic Republic of Congo provides more than 70% of the world's cobalt, an essential metal in particular for the manufacture of batteries used in electronics and electric cars.
The Tenke Fungurume mine is the second largest cobalt mine in the world.
It was producing around 20,000 tonnes of copper and 1,500 tonnes of cobalt per month until 2022, according to company figures.
mediacongo
Last edited:
Cumquat Cap
Regular
The figure was meant to be roughly 7.5B - could they have made an agreement to invest the other billions elsewhere? More likely they've pocketed it but this discrepancy + Pei reshuffling of funds recently is interesting timing
5.5B isn’t going to cut it. He better raid his piggy bank
Cumquat Cap
Regular
5.5 + the 2 off Pei took out of PLS may do it? fuck these cunts obviously
Carlos Danger
Top 20
Nice to see Moneybags aka Ballbags sending private Troll accusations and then locking the conversation to replies.
Been here since day 1, attended the Roadshows, keen as anyone else for AVZ to succeed so I can get my overdue pay day.
Unsure what your problem is mate, but it's a pretty poor attitude in my opinion.
Been here since day 1, attended the Roadshows, keen as anyone else for AVZ to succeed so I can get my overdue pay day.
Unsure what your problem is mate, but it's a pretty poor attitude in my opinion.
So, CMOC has admitted guilt for being a sneaky fucker...............what a surprise*Fyi, In other News, I see where the DRC has a few $Billion $Bucks towards our ICSID settlement
Mine in the DRC: the Chinese CMOC has agreed to pay 2 billion dollars to its Congolese partner
Chinese mining group CMOC has agreed to pay its domestic partner in the Democratic Republic of Congo, Gécamines, $2 billion to settle a dispute over royalties related to a mining joint venture, according to a stock market filing released Tuesday.
After months of legal disputes, an agreement was reached last April between the Chinese group CMOC, which owns 80% of the Tenke Fungurume mine (TFM, south-east) and its Congolese partner, the public mining company Gécamines, but details had not been disclosed.
Gécamines accusing the Chinese group of concealing information on the size of its reserves, the huge mine had been hit with an export ban between July 2022 and April, leading to the immobilization of tens of thousands of tonnes of copper and of cobalt.
Since the conclusion of the agreement, the CMOC group has gradually begun to dispose of these huge stocks, representing for cobalt powder no less than 7% of the world's annual production in 2022.
This dispute coincided with the stated desire of the DRC to renegotiate more widely contracts that it deems to its disadvantage.
The president, Felix Tshisekedi, went to China at the end of May to discuss, among other things, Chinese mining contracts.
Details of the TFM deal were only released on Tuesday, when CMOC said in a stock market filing that the mine would pay Gécamines $800 million in compensation payment and at least $1.2 billion in dividends on several years.
Going forward, “Gécamines will be entitled to 20% of the total value of the subcontracting of the project and the right to acquire a production volume proportional to its 20% stake in TFM at market conditions and in the respect for Congolese laws,” added the CMOC.
The largest producer of minerals in Africa, the Democratic Republic of Congo provides more than 70% of the world's cobalt, an essential metal in particular for the manufacture of batteries used in electronics and electric cars.
The Tenke Fungurume mine is the second largest cobalt mine in the world.
It was producing around 20,000 tonnes of copper and 1,500 tonnes of cobalt per month until 2022, according to company figures.
mediacongo
$2b damages............certainly not pocket change.
What a bunch of maggots !!
Is there any entity in DRC that has any morals apart from AVZ ( albeit lack of disclosure principle )?
Bring on the TO NF...............my AVZ dream is soured with lemons and spikey pineapples that leave a bitter taste in my mouth and a sharp pain in my ass.
Yeah folks, you would be correct....... thats not a pineapple, but it looks similar and just as painful one would think...........
Thats Mr Ballbags to you. Show some respect
MoneyBags1348
Top 20
@Elmitso
Might have something to do with this comment you made about me arsehole….
“It's alright Jane, he's just an old frustrated loser”
I never had anything to do with you before that, if grouping you with the other trolls was a mistake I’ll simply put you into the fuckwit group, it’s basically the same people
Here’s the PM seeing you wanted to share it with others here
@pow4ade
@Powertrade
@Theron20004
@WPM60
Unfortunately you can only include five trolls when you are sending a private message but I’m sure der goose, john weed, Multibagger, Jane1998 and your little group of rimmer’s are getting this
You morons are going to hear some bad news regarding AVZ coming your way very soon
I reread it, there’s no mistakes
Might have something to do with this comment you made about me arsehole….
“It's alright Jane, he's just an old frustrated loser”
I never had anything to do with you before that, if grouping you with the other trolls was a mistake I’ll simply put you into the fuckwit group, it’s basically the same people
Here’s the PM seeing you wanted to share it with others here
Trolls 🧌
@Elmitso@pow4ade
@Powertrade
@Theron20004
@WPM60
Unfortunately you can only include five trolls when you are sending a private message but I’m sure der goose, john weed, Multibagger, Jane1998 and your little group of rimmer’s are getting this
You morons are going to hear some bad news regarding AVZ coming your way very soon
I reread it, there’s no mistakes
MoneyBags1348
Top 20
My mate Dave sent me an example of the desperate comments the trolls here and on Twitter have been posting on Twitter in their panic ridden states pretending to be AVZ holders
Tell me, do I seem worried by these fuckwits
Tell me, do I seem worried by these fuckwits
Cumquat Cap
Regular
Dave Challinor the biggest cocksucka in ASX finance twitter - can't stand the prick
If CMOC do put forward a decent offer, they literally got Manono for nothing considering initial compensation requested by the DRC was for $7.6B.
Really odd time to make this announcement given this was agreed back in April this year.
With this scenario, everyone will be happy except the gringios.
Yeah Ballbags, that was in response to you needlessly calling Jane a fuckwit for a reasonable comment she made. Glad we've got each other figured out now, I've had you in the fuckwit group for months@Elmitso
Might have something to do with this comment you made about me arsehole….
“It's alright Jane, he's just an old frustrated loser”
I never had anything to do with you before that, if grouping you with the other trolls was a mistake I’ll simply put you into the fuckwit group, it’s basically the same people
Here’s the PM seeing you wanted to share it with others here
Trolls 🧌
@Elmitso
@pow4ade
@Powertrade
@Theron20004
@WPM60
Unfortunately you can only include five trolls when you are sending a private message but I’m sure der goose, john weed, Multibagger, Jane1998 and your little group of rimmer’s are getting this
You morons are going to hear some bad news regarding AVZ coming your way very soon
I reread it, there’s no mistakes
Who cares about the US they will take ages to act.
A JV between CMOC and CATL is a win win for all .
No waiting 5 years and missing out on taxes plus DRC not needing to go to court.
Hopefully management are considering a T/ O that is reasonable ?
I can’t give my lawnmower away, it’s special and close to my heart.
Gives a nice clean cut, if cutting toes. Starts first pop, sorry.
MoneyBags1348
Top 20
Wales and @BEISHA expand your imagination….
Imagine if we were to partner with CATH and CMOC…. We could become the world’s biggest lithium miner (or mining deposit) with the backing of the world’s biggest lithium battery maker and the world’s biggest cobalt producer.
It wasn’t that long ago @The Fox posted links to articles where both Felix and Julien Paluku were both having discussions with CATH and CMOC about their planned lithium battery manufacturing in Haut-Katanga.
In the latest advertisement for the DRC-AFRICA Battery Minerals event in September, AVZ is still listed as a Cobalt Plus Sponsor.
Everyone has their own opinion, mine is to hope for a partnership sharing CAPEX rather than any undervalued TO offer, but that’s just my opinion
None of the above is from any information I have had passed on to me, it’s my own opinion from reading the news and keeping up with current events
Last edited:
Winenut
Go AVZ!
I would really like to see the ML issued and AVZ progressing the mine
Hoping that could still be negotiated in the background but not pinning my hopes on it
The reason I prefer this outcome is management of my investment
If there's an outright TO it will crystalise pretty much all profits in 1 financial year....bit of a pisser tax wise
IF they can negotiate a good outcome and go mining and AVZ start trading again you would expect the SP to be quite reasonable
If you wanted to take a little risk off the table you could
If you wanted to get all your capital back and let the rest ride...you could
Would also give you the chance to really reach the holy grail and have the investment grow in value over time and when producing potentially receive some divvies.....on top of that you would get to be a part of the good stuff AVZ could do to really invest back into the congolese community!!
Sounds like a bit of a pipe dream but it was what I ultimately wanted when I first invested in Manono
Fingers crossed
Hoping that could still be negotiated in the background but not pinning my hopes on it
The reason I prefer this outcome is management of my investment
If there's an outright TO it will crystalise pretty much all profits in 1 financial year....bit of a pisser tax wise
IF they can negotiate a good outcome and go mining and AVZ start trading again you would expect the SP to be quite reasonable
If you wanted to take a little risk off the table you could
If you wanted to get all your capital back and let the rest ride...you could
Would also give you the chance to really reach the holy grail and have the investment grow in value over time and when producing potentially receive some divvies.....on top of that you would get to be a part of the good stuff AVZ could do to really invest back into the congolese community!!
Sounds like a bit of a pipe dream but it was what I ultimately wanted when I first invested in Manono
Fingers crossed
Similar threads
