AVZ Discussion 2022

Winenut

Go AVZ!
With you there Sam

WTF is going on now is very hard to gauge

Now if an official announcement came out ....well that might help fucking clarify something.... :rolleyes:
 
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BEISHA

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Spikerama

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This hasn't helped clarify anything for me:



ChatGPT translation:

According to the media outlet Géopolis, Célestin Kibeya Kabemba, General Manager of COMINIERE, allegedly certified the following in a letter:

"She (COMINIERE) found itself in a favorable position in the Manono lithium mega project, from which it had already been excluded by the majority shareholder (AVZ MINERALS) due to multiple abuses. Today, COMINIERE SA is once again the holder of PR 13359, which has allowed it to negotiate favorably with the other two shareholders. In fact, COMINIERE, which previously held 10% of shares in DATHCOM MINING, now holds 85%, with the possibility of restructuring the joint venture to move on to the production phase with a reliable partner. 'COMINIERE SA, which had been operating under an imbalanced contract in DATHCOM MINING SA, has managed to terminate that contract and now has the opportunity to negotiate a win-win contract.'"

It's worth noting that these statements were made at least a month before Céléstin Kibeya's appointment as General Manager by the head of state, Félix Tshisekedi.

It was no longer a secret to anyone informed and interested in the Manono lithium project that negotiations were underway after the cancellation of exploitation permit 13359 by DATHCOM, led by the Minister of Mines, Adèle Kayinda. These negotiations involved COMINIERE, representatives of the Kinshasa government, and AVZ MINERALS, aiming to find a compromise between the conflicting parties within DATHCOM MINING.

However, an official veto was imposed by the government representatives, particularly on AVZ MINERALS, to prevent the disclosure of information and the existence of these negotiations. This was due to concerns that aggressive AVZ shareholders on social media might use the information to criticize Congolese authorities.

Recall the accusations of insults directed at the head of state and the Democratic Republic of Congo by COMINIERE executives and certain media outlets not favorable to the Australian position, against Twitter profiles defending their shareholder positions in AVZ MINERALS, which were negatively affected by the downturn in the Manono lithium project.

Last January, due to alleged opacity on COMINIERE's part, it sent a formal notice to AVZ INTERNATIONAL, requesting evidence of foreign fundraising, project assignments within DATHCOM, and notably repayment guarantees.

Célestin Kibeya's accusations against AVZ MINING were based on the violation of Article 18.3 of the DATHCOM joint venture contract.

According to COMINIERE, since AVZ INTERNATIONAL didn't provide the requested data within 90 days of receiving its correspondence, AVZ INTERNATIONAL failed to fulfill its contractual obligations. This automatically led to the unilateral termination of the DATHCOM joint venture contract.

Having observed the serious and persistent violation of the DATHCOM contract that occurred on April 4, 2023, COMINIERE drew its conclusions on April 7, 2023, to terminate the joint venture and engaged the mining cadastre (CAMI) with the Kalemie Court of First Instance.

On May 9, 2023, the Kalemie court decreed that PR 13359, which was previously transferred to DATHCOM MINING SA through the contract signed on January 13, 2017, had been fully restored to COMINIERE SA.

In anticipation of the outcome of the Paris International Chamber of Commerce (CCI) arbitration, COMINIERE and DATHOMIR, led by Chinese national Simon Cong, signed a commitment on May 19, 2023. This aimed to confirm the restoration of PR 13359 to COMINIERE based on the Kalemie Court of First Instance's decision RC381S/RH 0242 pronounced on May 3, 2023. This also included announcing to DATHOMIR the dissolution of the joint venture, DATHCOM MINING SAS.

On the occasion, COMINIERE and DATHOMIR committed to continue their mining cooperation and safeguard their mutual interests in the future joint venture, which will cover the entirety of PR 13359. COMINIERE would hold 85% and DATHOMIR its 15% stake as it did in DATHCOM SA.

They also committed to refraining from any legal proceedings at the CCI and Congolese courts against COMINIERE SA regarding the 2017 DATHCOM contract termination. Being aware of the ongoing arbitration in Paris, DATHOMIR demanded that COMINIERE be held accountable at the CCI in Paris for the termination of the DATHCOM SA contract, as well as for conducting the AVZ feasibility study independently. This included excluding AVZ MINERALS from the new joint venture to be formed by both partners.

At the same time, COMINIERE initiated negotiations for future collaboration on lithium with the Chinese group ZIJIN (JIN CHENG). This was after alleged attempts by ZIJIN to make an illegal purchase of 15% of COMINIERE's shares in DATHCOM SA, according to the General Finance Inspection.

Sources close to the matter informed Kongopress that COMINIERE might propose two options to ZIJIN:

1. Creating a new joint venture.
2. Selling a portion of the 85% stake that COMINIERE should hold in the future joint venture, in order to involve the Chinese in the new phase of the Congolese lithium venture.

COMINIERE's urgency in negotiating with both DATHOMIR and ZIJIN is driven by a desire to sign new joint venture agreements for the Manono lithium project before the CCI in Paris makes a decision on conservatory measures related to DATHCOM SA. Such measures could potentially block COMINIERE's moves in the Manono lithium project.

The potential consequences of a decision on purely conservatory measures by the CCI include maintaining the project's status quo, which could result in the non-commencement of the Manono lithium exploitation. Additionally, there is a demand for a $10 billion USD payment by the claimants, AVZ MINERALS. The other potential measures include restraining COMINIERE SA from taking actions related to the modified JV contract's termination or its consequences, and enjoining COMINIERE SA to comply with Article L1.1 of the modified JV contract. In any case, these measures are often accompanied by financial penalties for non-compliance and the requirement for COMINIERE SA to bear the costs of the arbitration.

Ok that doesn't sound too positive but if Cominiere want to try anything, they should first understand the implications to the President.

ICC and the rest is one big problem. The other is that I have about 15 of the best advertising minds in the world, ready to destroy any chance of Tshisekedi ever flying in his fancy jet ever again. Let alone occupying an official position.

I don't think it will come to that but if Paris doesn't get him, we will.

End of story. .
 
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wombat74

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I understand your anger, personally I would love to see that corrupt bunch rotten in jail forever.

But it’s not save how much we would win if the court cases go ahead. And no shareholder would benefit from it. The poor drc people who suffered under such government didn’t benefit too.

The DRC is already close to bankrupt, even if we win 20 billion after years of fighting how can they pay it back? Payback period of 50+ years?
Digoil have fighted 12 years against the drc for a few hundred millions, they still waiting for a payback contract since 2020 and have never seen one dollar. The drc don’t even pay the 36 million for their lawyers.

And if the worldbank would cancel everything in reason of our case (I doubt it will happen) that place will just getting more unlivable like yet.

I wish the worst for the people who deserve it, but not for the rest. And even if we win the case they will never pay anything back. So why do you think the cases are better than negotiations to get hopefully out or find a solution with the drc?
It looks to me to be another knee jerk reaction to what they have read on social media . It is obviously getting under their skin . Where was it ever officially said AVZ will sue the DRC for $10 billion ? They are clearly very concerned by the up coming ICC hearing .

"COMINIERE's urgency in negotiating with both DATHOMIR and ZIJIN is driven by a desire to sign new joint venture agreements for the Manono lithium project before the CCI in Paris makes a decision. Such measures could potentially block COMINIERE's moves in the Manono lithium project."
 
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Xerof

Have a Cigar 1975
Hasn't it already been established that COMINIERE's request for financing detail within 90 days is a load of bullshit and does not give them rights to terminate?

@Carlos Danger enter stage left

Anyway, as is usual in the DRC, this is not new news, it relates to events that happened months ago, and is just getting regurgitated for entertainment purposes. I see cuntLars has gone into hysteria over it on X
 
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RHyNO

Regular
These idiots are getting desperate . They know they don't have a leg to stand on .
Yep absolutely stinks of final desperation. It’s like “yeah we are ready to go with our Chinese partners and have the funding, of course there’s the tricky little business of us not actually owning the rights to anything at all but we are certainly ready to go” I’d like to see cong explain his position in realistic terms!
 
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Hasn't it already been established that COMINIERE's request for financing detail within 90 days is a load of bullshit and does not give them rights to terminate?

@Carlos Danger enter stage left

Anyway, as is usual in the DRC, this is not new news, it relates to events that happened months ago, and is just getting regurgitated for entertainment purposes. I see cuntLars has gone into hysteria over it on X
I’m also interested in this.

I have a vague recollection of the request being interpreted by AVZ as a nefarious means for Cominier to obtain important commercial info help inform their attack on us along with their corrupt buddies (cough #Fuckzijin).

AVZ has seemingly done everything by the letter of the law and by the contract. It would truely suck if there was a minor technical breach that was being overblown by Cominere into a reason for dissolution.
 
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JAG

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Its seems our leaders are no longer in the DRC?

A - Has a deal been struck with an announcement due next week?

B - A deal has not been struck and they have said "f it, we go to court"

C - Returned home to prepare for Fathers Day?
 
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geo_au

Regular
Hasn't it already been established that COMINIERE's request for financing detail within 90 days is a load of bullshit and does not give them rights to terminate?

@Carlos Danger enter stage left

Anyway, as is usual in the DRC, this is not new news, it relates to events that happened months ago, and is just getting regurgitated for entertainment purposes. I see cuntLars has gone into hysteria over it on X

The question one needs to ask and pay attention to are, who are our board talking to? simple answer, it is not Comminire but Cami. So what Cominiere says should be taken taken with a pinch of salt as they are fighting to stay alive by trying to hoodwink the gullible, that's why some are optomistic one week and pessimistic the next. Let's be clear what Comminire says is irrelevant to the high level discussions taking place between our board and Cami so suggest you all settle down and leave to the board to do their job and bring these matters to satisfactory conclusion.
 
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JasonM

Regular
Its seems our leaders are no longer in the DRC?

A - Has a deal been struck with an announcement due next week?

B - A deal has not been struck and they have said "f it, we go to court"

C - Returned home to prepare for Fathers Day?
how do you know they are no longer there?
 
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kron

Regular
I'd hate to get anyone's hopes up prematurely but I just read this...
 

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Xerof

Have a Cigar 1975
The question one needs to ask and pay attention to are, who are our board talking to? simple answer, it is not Comminire but Cami. So what Cominiere says should be taken taken with a pinch of salt as they are fighting to stay alive by trying to hoodwink the gullible, that's why some are optomistic one week and pessimistic the next. Let's be clear what Comminire says is irrelevant to the high level discussions taking place between our board and Cami so suggest you all settle down and leave to the board to do their job and bring these matters to satisfactory conclusion.

Why don't you pay attention to what some of us are trying to do here - dispel every shred of utter crap being put on SM by detractors and criminal players. If it's left to fester in the minds of the gullible, they will eventually get their way.
 
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Xerof

Have a Cigar 1975
I'd hate to get anyone's hopes up prematurely but I just read this...
I won't ejaculate until I see an AVZ announcement - anything else is premature
 
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Hasn't it already been established that COMINIERE's request for financing detail within 90 days is a load of bullshit and does not give them rights to terminate?

@Carlos Danger enter stage left

Anyway, as is usual in the DRC, this is not new news, it relates to events that happened months ago, and is just getting regurgitated for entertainment purposes. I see cuntLars has gone into hysteria over it on X
I’m also interested in this.

I have a vague recollection of the request being interpreted by AVZ as a nefarious means for Cominier to obtain important commercial info help inform their attack on us along with their corrupt buddies (cough #Fuckzijin).

AVZ has seemingly done everything by the letter of the law and by the contract. It would truely suck if there was a minor technical breach that was being overblown by Cominere into a reason for dissolution.
Here's Article 18.3 that CKK is citing to terminate the JVA

20230827_110946.jpg


Here's Article 11 that 18.3 references

20230417_204227.jpg

20230417_204307.jpg


Here are Articles 19 and 20.8 that talk about requirements of producing documents

20230417_222123.jpg

20230417_222320.jpg


I haven't been able to find anything specifically about a 90 day window for producing financial records but Cominiere are most likely trying to use one of these rules as justification for the termination of the JVA

Article 19.1 includes a line about parties not being required to produce documents if it may 'affect the security and/or efficiency of the operations of Dathcom'. It's possible management are using this as their reasoning for why they didn't have to give Cominiere the financial records.

But considering everything about how we are financing this is on public record anyway through official announcements it seems a bit weird to me that management wouldn't have just complied with the request. Regardless of why AVZ didn't provide the documents Article 11 clearly states that only the ICC can settle disputes within the JVA. Not some back alley brown paper bag courts in the DRC.

20230826_080156.jpg
 
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I'd hate to get anyone's hopes up prematurely but I just read this...
FMD our situation is amazing. The roller-coaster metaphor does no justice to our ever-changing real world emotions.

I hope everyone is ok.
 
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suggest you all settle down and leave to the board to do their job and bring these matters to satisfactory conclusion
It's not like we have a choice
 
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eqtrade

Regular
IMO, AVZ should not negotiate with Z and Cominiere from now on to ICC. It's their another tactic to delay ICC one more time. They would request ICC for delay because we agree to sit down for negotiation, then nothing can be agreed. Can't be fooled any more.
 
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Here's Article 18.3 that CKK is citing to terminate the JVA

View attachment 43064

Here's Article 11 that 18.3 references

View attachment 43060
View attachment 43061

Here are Articles 19 and 20.8 that talk about requirements of producing documents

View attachment 43062
View attachment 43063

I haven't been able to find anything specifically about a 90 day window for producing financial records but Cominiere are most likely trying to use one of these rules as justification for the termination of the JVA

Article 19.1 includes a line about parties not being required to produce documents if it may 'affect the security and/or efficiency of the operations of Dathcom'. It's possible management are using this as their reasoning for why they didn't have to give Cominiere the financial records.

But considering everything about how we are financing this is on public record anyway through official announcements it seems a bit weird to me that management wouldn't have just complied with the request. Regardless of why AVZ didn't provide the documents Article 11 clearly states that only the ICC can settle disputes within the JVA. Not some back alley brown paper bag courts in the DRC.

View attachment 43066
Good work as usual, @Carlos Danger - they are the clauses in question. I feel better reading those again as Cominier’s actions were seemingly unilateral i.e. no invocation of the Arbitrage arrangements from 11.1.
 
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wombat74

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I'd hate to get anyone's hopes up prematurely but I just read this...
Another chain puller ?
 
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