AVZ Discussion 2022

[Thaz]

Zijin announced this:

Translated:

Security Code: 601899 Security Abbreviation: Zijin Mining Number: L2023-080

Zijin Mining Group Co., Ltd. Announcement Regarding the Invited Cooperation with COMINIERE S.A. for Exploration and Development of the Manono Lithium Project in the Northeastern Region of the Democratic Republic of the Congo

The Board of Directors of our company and all directors hereby guarantee that the announcement contains no false records, misleading statements, or significant omissions and accept legal responsibility for its truth, accuracy, and completeness in accordance with the law.

On October 23, 2023, Zijin Mining Group Co., Ltd. (hereinafter referred to as the "Company"), through its overseas subsidiary (hereinafter referred to as "Jinxiang Lithium"), and COMINIERE S.A. (hereinafter referred to as "COMINIERE") have obtained the exploration rights (registration number PR15775) for the Manono Lithium Project (hereinafter referred to as the "Project") in the northeastern region of the Democratic Republic of the Congo, as approved by the Ministry of Mines of the Democratic Republic of the Congo.

Following a judgment by the Congolese (Kinshasa) judicial authorities and approval from government agencies, the 100% ownership rights to the exploration rights numbered PR13359 for the Manono Lithium Project were returned and registered in the name of COMINIERE. Subsequently, COMINIERE invited the Company to cooperate in exploring and developing the northeastern portion of the exploration rights numbered PR13359 (corresponding to the current exploration rights numbered PR15775).

According to the joint venture agreement signed by Jinxiang Lithium and COMINIERE, after the Project Company acquires the exploration rights numbered PR15775, COMINIERE agrees to directly deduct the purchase price of USD 33.44 million for the 15% equity in Dathcom from the amount payable by Jinxiang Lithium to obtain a 61% equity interest in the Project Company. Furthermore, COMINIERE commits to providing a total of USD 70 million for humanitarian aid to the northeastern and eastern regions of the Democratic Republic of the Congo. The agreement also stipulates that Jinxiang Lithium will lead the geological exploration, development, construction, and operational management of the Project, and be responsible for securing various internal and external financing for the Project Company, with a focus on expeditiously completing geological exploration and feasibility study work. It is anticipated that the Project will be completed within two years after determining the feasibility study and financing plan, with the simultaneous construction of a lithium smelting industrial park. The products will be prioritized for supply to downstream companies in the Democratic Republic of the Congo under fair market conditions.

The Company believes that the Manono Lithium Project is one of the world's largest spodumene lithium-cesium-tantalum (LCT) pegmatite deposits discovered to date. Although the Project is currently a "greenfield" project, it is located in a highly prospective lithium resource mineralization belt, with tremendous mineral exploration potential. Leveraging the Company's strong independent geological exploration capabilities, a significant breakthrough in spodumene pegmatite resource exploration is expected, and the Project is well-suited for large-scale open-pit mining and has favorable development prospects.

The Company will allocate sufficient funds and technical support as needed to advance the exploration and development of this Project. Additionally, the Company has acquired the development rights for the Mpiana-Mwanga hydroelectric plant near the Project location through an open bidding process. Once restored, this power plant, which is in proximity to the Project, will provide ample low-carbon electricity support for the Project's development.

Since 2014, the Company has successively established and commenced production at major mines in the Democratic Republic of the Congo, including the Kolwezi copper mine and the Kamoa-Kakula copper mine, with a cumulative investment of over USD 2 billion and providing employment for more than 6,800 local residents. The invitation to participate in the cooperative exploration and development of this Project is primarily based on the Company's efficient construction and operational management capabilities in the Democratic Republic of the Congo, as well as its excellent ESG concepts and practices. Upon completion of the Project, it will become one of the world's leading lithium production bases, offering high-quality, low-carbon metal raw materials to address climate change and significantly promote the economic and social development of the Democratic Republic of the Congo and local communities. This will help the Company become one of the world's leading lithium producers.

The Company reminds investors that further exploration and verification of resource information are required for this cooperation, and the project's profitability is sensitive to lithium price fluctuations. The Project may also be affected by related disputes and unexpected delays in project development. Investors are advised to pay attention to these risks.

This announcement is hereby made. Zijin Mining Group Co., Ltd. Board of Directors October 24, 2023​

 

[whales]

I've been saying all year that Cominiere signed that offer from Zijin. Looks like it's been completed. The DRC government would have faced arbitration from them too if Felix didn't give them the north. I can't think of anything else 'significant' that Nigel could have given away. Although the deal probs includes Cong being paid by the Chinese and us getting Cominiere's 15% so we are left with 66% of RD imo

If Getting the ML with Roche Dure is secured then the sooner the better.
CATH with its funding and 10mtpa production is a positive result than 3 to 5 years legal option .
Payback under 2 years and AVZ in profit .
But is this part of the MOU??

 

[BRICK]

Zijin announced this:

Dodgy translation:

Securities code: 601899 Securities Abbreviation: Zijin Mining Number: Lin 2023-080
Zijin Mining Group Co., Ltd.
About being invited to cooperate with Congo Mining Development Co., Ltd.

Announcement of cooperative exploration and development of the northeast Manono Lithium Mine project in the Democratic Republic of the Congo (Gold)

The board of directors and all directors of the company guarantee that the content of the announcement does not contain any false records, misleading statements or
Major omissions, and bear legal responsibility for the authenticity, accuracy and completeness of its content in accordance with the law.

On October 23, 2023, the overseas subsidiary of Zijin Mining Group Co., Ltd. (hereinafter referred to as the “company”)
Company (hereinafter referred to as "Jinxiang Lithium"” and Congo Mining Development Co., Ltd. (hereinafter referred to as “COMINIERE”)
The joint venture company Manonuo Lithium Technology Co., Ltd. (hereinafter referred to as the "project Company”, held by Jinxiang Lithium)
61% EQUITY, COMINIERE HOLDS 39% EQUITY) Manono LITHIUM, WHICH has been approved BY THE Ministry OF Mines OF THE Democratic Republic OF THE CONGO (DRC)
The prospecting right (number PR15775) of the Northeast Mine project (hereinafter referred to as the “project”).
After the judgment of the judicial organs of the Democratic Republic of the Congo (DRC) and the approval of government agencies, the Manono lithium mine number PR13359
100% OF THE INTEREST IN PROSPECTING RIGHTS HAS BEEN RETURNED AND REGISTERED IN COMINIERE'S NAME.SUBSEQUENTLY, COMINIERE INVITED THE COMPANY TO COOPERATE
Exploration and development of the northeast part of the prospecting right numbered PR13359 (that is, the current corresponding prospecting right numbered PR15775).
According to the joint VENTURE agreement signed by Jinxiang Lithium and COMINIERE, the project COMPANY obtained the number PR15775.
After THE mining rights, the two parties agreed THAT COMINIERE SHOULD refund the company the purchase price FOR the purchase OF 15% of Dathcom's shares.
US 333.44 million was directly deducted as part of the consideration paid by Jinxiang Lithium to obtain a 61% interest in the project company, and
A total of US770 million will be provided by the project company to the northeast and east of the Democratic Republic of the Congo (DRC) for humanitarian purposes.
Righteous assistance.At the same time, the agreement stipulates that Jinxiang Lithium will lead the geological exploration, development, construction and operation management of the project.，
And responsible for solving the follow-up internal and external financing with the project company as the main body, and completing geological exploration and feasibility studies as soon as possible.
Preparation work.After the project lands, it is expected that the construction of the project will be completed within 2 years after the feasibility study and financing plan are determined, and at the same time
Step by step to build a lithium smelting industrial park, and the products will be given priority to downstream enterprises in the Democratic Republic of the Congo (DRC) under the premise of fair market conditions.
The company believes that the Manono lithium mine is the largest lithium-rich LCT (lithium, cesium) discovered in the world that can be developed in the open air.、
Tantalum) One of the pegmatite deposits. Although the project is still a "greenfield" project, it is in a good lithium resource mineralization zone.，
2
The prospecting potential is huge.Relying on the company's strong independent geological prospecting and exploration capabilities, it is expected to realize spodumene pegmatite resources.
An important breakthrough in source exploration, and the project has the conditions for large-scale open-air development, and it also has good development prospects.
The company will invest sufficient funds and technical support according to actual needs to promote the exploration and development of the project.At the same time，
The company has obtained the development right of the Mpiana-Mwanga hydropower station related to the mining area through the public bidding process (abandoned
Renovation and operation of the old power station), the location of the Mpiana-Mwanga hydropower station is close to the project, and once it is repaired, it can be used for the project.
The development provides sufficient low-carbon power protection.
Since 2014, the company has successively completed and put into operation the Koluwezi Copper Mine and Kamoa-Kaku in the Democratic Republic of the Congo (DRC).
Large-scale mines such as La Copper Mine have invested more than US22 billion in total, and more than 6,800 local jobs have been solved.This time
Being able to be invited to participate in the cooperative exploration and development of the project is mainly based on the company's efficient construction and operation in the Democratic Republic of the Congo (DRC).
Management ability, excellent ESG concept and practice.After the development and completion of the project, it will become the world's leading lithium production
One of the bases to provide high-quality low-carbon metal raw materials to combat climate change, and to further promote the development of the Democratic Republic of the Congo (DRC) and
The development of the local community's economic and social undertakings has boosted the company's entry into the world's leading lithium producers.
The company reminds that there are relevant resources in this cooperation that need to be further explored and verified, and the project benefits have a significant impact on lithium prices.
Price fluctuations are sensitive, the project may be affected by related disputes, and the project development progress is not as expected and other risks, respect

Please pay attention to the majority of investors.

It is hereby announced.
Zijin Mining Group Co., Ltd.
Board of Directors
October 24, 2023

 

[BRICK]

Translated:

beat me to it!

 

[Bin59]

Last paragraph contains a disclaimer …

The Company reminds investors that further exploration and verification of resource information are required for this cooperation, and the project's profitability is sensitive to lithium price fluctuations. The Project may also be affected by related disputes and unexpected delays in project development. Investors are advised to pay attention to these risks.

 

[Thaz]

Main key points i can see.....

Following a judgment by the Congolese (Kinshasa) judicial authorities and approval from government agencies, the 100% ownership rights to the exploration rights numbered PR13359 for the Manono Lithium Project were returned and registered in the name of COMINIERE. Subsequently, COMINIERE invited the Company to cooperate in exploring and developing the northeastern portion of the exploration rights numbered PR13359 (corresponding to the current exploration rights numbered PR15775).

According to the joint venture agreement signed by Jinxiang Lithium and COMINIERE, after the Project Company acquires the exploration rights numbered PR15775, COMINIERE agrees to directly deduct the purchase price of USD 33.44 million for the 15% equity in Dathcom from the amount payable by Jinxiang Lithium to obtain a 61% equity interest in the Project Company.

Additionally, the Company has acquired the development rights for the Mpiana-Mwanga hydroelectric plant near the Project location through an open bidding process. Once restored, this power plant, which is in proximity to the Project, will provide ample low-carbon electricity support for the Project's development.

this is royally fucked if this is the case.

 

[Mr Clean]

Translated:

Knew it. They are ploughing ahead. ICC be damned. They aren’t waiting for anything.

AVZ can’t ignore this.

It’s the biggest move made by our enemies to date.

 

[Thaz]

beat me to it!

sorry bud! haha.

ChatGPT is a gem.

 

[Carlos Danger]

Zijin announced this:

 

[Carlos Danger]

Main key points i can see.....







this is royally fucked if this is the case.

Knew it. They are ploughing ahead. ICC be damned. They aren’t waiting for anything.

AVZ can’t ignore this.

It’s the biggest move made by our enemies to date.

ICC be damned because part of the deal is Zijin withdrawing their claim on 15% of Dathcom and using the 33.4m to pay Cominiere for the north. Unless they are trying to get that 15% for free now. This was the exact terms of the original offer by Zijin.

'According to the joint venture agreement signed by Jinxiang Lithium and COMINIERE, after the Project Company acquires the exploration rights numbered PR15775, COMINIERE agrees to directly deduct the purchase price of USD 33.44 million for the 15% equity in Dathcom from the amount payable by Jinxiang Lithium to obtain a 61% equity interest in the Project Company.'

 

[Spikerama]

Here's another one for the collection.

 

[BRICK]

sorry bud! haha.

ChatGPT is a gem.

Nice!
Good idea

 

[tonster66]

Seems like Felix has lost control. china flexing its muscle, this is not good. Who is going to stand up to china? They are telling everyone to get stuffed and doing what they please

 

[cruiser51]

View attachment 47897
View attachment 47898

The project may be affected by relevant disputes, and the project development progress is less than expected.
Investors are advised to pay attention.....

And then there is the ICC arbitration outcome...

And the resource has to be drilled out etc, etc, etc....

 

[Thaz]

i've just sent an email to AVZ for some commentary on the latest developments.

I doubt i'll hear anything - but lets see.

 

[9cardomaha]

ICC be damned because part of the deal is Zijin withdrawing their claim on 15% of Dathcom and using the 33.4m to pay Cominiere for the north. Unless they are trying to get that 15% for free now. This was the exact terms of the original offer by Zijin.

'According to the joint venture agreement signed by Jinxiang Lithium and COMINIERE, after the Project Company acquires the exploration rights numbered PR15775, COMINIERE agrees to directly deduct the purchase price of USD 33.44 million for the 15% equity in Dathcom from the amount payable by Jinxiang Lithium to obtain a 61% equity interest in the Project Company.'

So they want a refund on the 15% from Dathcom and then use it to get 61% of 125 carres？

Menstrual cycle of the jade pony right there.

 

[mouseflying]

View attachment 47897
View attachment 47898

In last Paragraph "the project may be affected by relevant disputes"
Zijin is very honest with its investors.

 

[llhtom]

Seems like Felix has lost control. china flexing its muscle, this is not good

Felix never had control to begin with. He hasn't done anything for the past 18 months apart from travelling around promoting his corrupt country. My bet is he is in it as well for turning a blind eyes. I find it hard to believe a president is not aware of the significance of this project to its country.

Frankly, its disappointing but you can't do anything at this stage. So much for the MOU negotiation which doesn't resolve anything apart from just talk.

Isn't the transfer etc in breach of ICC emergency judgement?

 

[Carlos Danger]

And then there is the ICC arbitration outcome...

Fun fact Zijin brought the ICC case and can drop it anytime they want. And the MoU deal will lead to the dropping of all litigation against the DRC and its controlled entities so that means no Cominiere ICC case. Relevant disputes refers to control of Mpiana Mwanga imo

'According to the joint venture agreement signed by Jinxiang Lithium and COMINIERE, after the Project Company acquires the exploration rights numbered PR15775, COMINIERE agrees to directly deduct the purchase price of USD 33.44 million for the 15% equity in Dathcom from the amount payable by Jinxiang Lithium to obtain a 61% equity interest in the Project Company.'

 

[Cumquat Cap]

It's all in breach of ICC order (they've probably realised they have lost that case and don't care)