AVZ Discussion 2022

[robface]

You're right too and conveniently 4 days after the asx announcement regarding AVZ power.

Just like the court case giving out shareholders addresses.

Did Avz know Zijin were working on it without updating the market?

 

[RHyNO]

Nigel will be questioned about this at the AGM. I hope you're attending and will be asking him yourself since you're so passionate about it. Or are you hoping someone else will bother for you?
At your level of rage I'd hope to see you front and center with the question, otherwise, what right do you have to come in here raging so hard?
I think everyone wants an answer to this question and is equally fully sus about it.
I can't imagine the audacity of him taking this bonus if he didn't expect to have the ML by the time AGM comes around.

Very interesting indeed. So to clarify. All of us here feel this bonus is way off the mark if there is not an ML in place? Is anyone in favour of the bonus without an ML? and if so why? (Sincere question) Can we as shareholders present a unified front in saying a hard NO to the performance bonus and if we do and he goes ahead and awards it to himself where does this leave us? Food for thought.

 

[Carlos Danger]

Very interesting indeed. So to clarify. All of us here feel this bonus is way off the mark if there is not an ML in place? Is anyone in favour of the bonus without an ML? and if so why? (Sincere question) Can we as shareholders present a unified front in saying a hard NO to the performance bonus and if we do and he goes ahead and awards it to himself where does this leave us? Food for thought.

I'm against a bonus full stop. Made that clear immediately. There are still plenty of performance rights on the table if ML is delivered soon. No fucking way do any of them deserve extra cash even if we started trading again tomorrow at all time highs.

Beyond belief they did this while talking about 'medium term' capital raises in suspension if still no ML before cash gets low. The notes said the bonus hasn't been paid yet so I'm willing to give them some leniency but I cannot envisage any scenario where they deserve another cent.

 

[Cumquat Cap]

100% in agreeance, I was incensed when I read they had or are wanting to pay themselves a cash bonus' - they get paid when we get liquidity/tangible outcomes.

Big NO from me (unless we get ML I may reconsider).

 

[Doc]

I'm against a bonus full stop. Made that clear immediately. There are still plenty of performance rights on the table if ML is delivered soon. No fucking way do any of them deserve extra cash even if we started trading again tomorrow at all time highs.

Beyond belief they did this while talking about 'medium term' capital raises in suspension if still no ML before cash gets low. The notes said the bonus hasn't been paid yet so I'm willing to give them some leniency but I cannot envisage any scenario where they deserve another cent.

I'm a hard no as well. Lets not forget during covid the BoD didn't budge from WA. 12+ months on full pay sitting at home. They get paid enough at the moment. Like I've said, get this up and running and SP at $2+ then give yourselves ( BoD's ) 1m shares each as bonus and i wont budge an eyelid, but during these tough times don't piss on me and tell me its raining.

 

[Hodlandwin69]

Tbf, if you're on decent money you make future decisions based on your income and your expected future income. They've been working hard and have faced crazy barriers and have been out of country, away from family and friends for extended periods like some crazy FIFO job. I'm sure they have bills to pay, maybe mortgage repayments on their mansions that they need to meet, the alternative is they wouldn't get enough $$$ to service their lifestyles and they leave the company which is arguably worse. They probably paid themselves the least to be able to financial cope with whatever lavish expenses they had needed to pay.
Gotta remember, the total pay package (including shares, is a huge pay cut)
All IMO

 

[tonster66]

I really dont see the Power plant as a negative for AVZ.
Looking at it from a DRC perspective, they own the assest and AVZ has an MOU to refurbish - not one of ownership. Consequently, if zijin refurbish then who is paying? I have not seen any contacts apart from the MOU with AVZ. So if zijin refurbish then what is stopping the DRC gov from saying get lost to zijin, there are not contracts and thus no ownership or rights. I see that as a positive for the DRC gov and also for AVZ as we do not need to raise the $ for the refurb and when finished we get to use the power for our benefit.
IMO

 

[Misfits]

Tbf, if you're on decent money you make future decisions based on your income and your expected future income. They've been working hard and have faced crazy barriers and have been out of country, away from family and friends for extended periods like some crazy FIFO job. I'm sure they have bills to pay, maybe mortgage repayments on their mansions that they need to meet, the alternative is they wouldn't get enough $$$ to service their lifestyles and they leave the company which is arguably worse. They probably paid themselves the least to be able to financial cope with whatever lavish expenses they had needed to pay.
Gotta remember, the total pay package (including shares, is a huge pay cut)
All IMO

You make some sense. However, could they have done more initially so we aren't in this position? Why no KPI's attached to this? I would be happy with certain milestones being achieved then they get rewarded such as ML or SP a certain price for a period of time etc.

 

[Carlos Danger]

Tbf, if you're on decent money you make future decisions based on your income and your expected future income. They've been working hard and have faced crazy barriers and have been out of country, away from family and friends for extended periods like some crazy FIFO job. I'm sure they have bills to pay, maybe mortgage repayments on their mansions that they need to meet, the alternative is they wouldn't get enough $$$ to service their lifestyles and they leave the company which is arguably worse. They probably paid themselves the least to be able to financial cope with whatever lavish expenst they had needed to pay.
Gotta remember, the total pay package (including shares, is a huge pay cut)
All IMO

Being in the DRC is in the fucking job description. And them not being able to budget their own finances is not my concern. My concern is them burning through our cash with no tangible progress. I personally would have given back half my pay as a sign of solidarity to shareholders if nothing else. Anyone that can't live on 100k to 200k a year is an idiot.

 

[Doc]

I really dont see the Power plant as a negative for AVZ.
Looking at it from a DRC perspective, they own the assest and AVZ has an MOU to refurbish - not one of ownership. Consequently, if zijin refurbish then who is paying? I have not seen any contacts apart from the MOU with AVZ. So if zijin refurbish then what is stopping the DRC gov from saying get lost to zijin, there are not contracts and thus no ownership or rights. I see that as a positive for the DRC gov and also for AVZ as we do not need to raise the $ for the refurb and when finished we get to use the power for our benefit.
IMO

I think you'll find that the contract ( MOU ) AVZ Power had was that we get to use the power but would also provide the local community with power. So the MOU must of had some rights to the power generated. No doubt Zijin will sell power to us but I'll guarantee at astronomical prices

 

[Panther22]

A big "no" to any bonuses whilst we are suspension and total uncertainty. The BOD rewards will come once we are in the clear and trading with their performance rights. I understand they are working hard and it is stressful dealing with what has been thrown at them but they have not "performed" as such because SH have been in limbo for 16+ months.
Have a lot more l would love to say here but don't want to be negative.
I intend to go to the AGM in Perth. If an informal catchup appeals to anyone l would be in it.

 

[Hodlandwin69]

Being in the DRC is in the fucking job description. And them not being able to budget their own finances is not my concern. My concern is them burning through our cash with no tangible progress. I personally would have given back half my pay as a sign of solidarity to shareholders if nothing else. Anyone that can't live on 100k to 200k a year is an idiot.

Yeh it's in the job description, so they expect to get paid VERY well

 

[Cumquat Cap]

Give them Hell at the AGM Panther - love you work (away overseas for work sadly during November).

Cheers,

 

[Hodlandwin69]

Give them Hell at the AGM Panther - love you work (away overseas for work sadly during November).

Cheers,

I hope you get a bonus for being overseas!

 

[Cumquat Cap]

I got a bonus for achieving tangible outcomes for my employer/shareholders

 

[Mr Inappropriate]

p

I really dont see the Power plant as a negative for AVZ.
Looking at it from a DRC perspective, they own the assest and AVZ has an MOU to refurbish - not one of ownership. Consequently, if zijin refurbish then who is paying? I have not seen any contacts apart from the MOU with AVZ. So if zijin refurbish then what is stopping the DRC gov from saying get lost to zijin, there are not contracts and thus no ownership or rights. I see that as a positive for the DRC gov and also for AVZ as we do not need to raise the $ for the refurb and when finished we get to use the power for our benefit.
IMO

#FuckZijin aren’t doing this for altruistic reasons. They want to control the cost and availability of power to our mine operations. It’s SOLELY to fuck us up.

#Fuckzijin

 

[rocknrolla]

I'm against a bonus full stop. Made that clear immediately. There are still plenty of performance rights on the table if ML is delivered soon. No fucking way do any of them deserve extra cash even if we started trading again tomorrow at all time highs.

Beyond belief they did this while talking about 'medium term' capital raises in suspension if still no ML before cash gets low. The notes said the bonus hasn't been paid yet so I'm willing to give them some leniency but I cannot envisage any scenario where they deserve another cent.

They raise in suspension retail is f#cked on open

 

[Jazz]

A big "no" to any bonuses whilst we are suspension and total uncertainty. The BOD rewards will come once we are in the clear and trading with their performance rights. I understand they are working hard and it is stressful dealing with what has been thrown at them but they have not "performed" as such because SH have been in limbo for 16+ months.
Have a lot more l would love to say here but don't want to be negative.
I intend to go to the AGM in Perth. If an informal catchup appeals to anyone l would be in it.

I’m a maybe to head over for the AGM, happy to catch up and discuss the many WTF moments of the last year or so.

 

[tonster66]

I think you'll find that the contract ( MOU ) AVZ Power had was that we get to use the power but would also provide the local community with power. So the MOU must of had some rights to the power generated. No doubt Zijin will sell power to us but I'll guarantee at astronomical prices

p

#FuckZijin aren’t doing this for altruistic reasons. They want to control the cost and availability of power to our mine operations. It’s SOLELY to fuck us up.

#Fuckzijin

Yes I get where you are coming from, but that is only if zijin has ownership rights. If there are no contracts and zijin are doing this to gain leverage I dont think they would have any as the DRC is the owner and there is no agreement.
Nothing stopping AVZ to continue with their MOU and taking advantage of the work already completed.
IMO

 

[Dazmac66]

What is the water and energy minister doing while Comminiere blatantly contradicts the MOU it signed with AVZ? Mind boggling.