AVZ Discussion 2022
- Thread starter GazDix
- Start date
Cumquat Cap
Regular
Confusing about what LArs the cunt is saying, are we all more comfortable this is just a ploy to scare shareholders or are we shit scared we are being usurped? Surely with ICC and ICSID cases they won't just strip us of 13359 - yes i'm thinking emotionally I can't help it
Carlos Danger
Top 20
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
I think Zijin intends to act on this while the court cases are happening. I can see them attempt to gain access to the site by the end of the week / early next. Much in the same way they have ploughed ahead with the power plant refurb.
I wonder what defences we have on site to stop this from happening. I heard how Zijin attempted to get some sort of construction vehicle on site a while back. Can the local people stop a small army of them? I think not.
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
Regular
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
Regular
beat me to it!
Bin59
Regular
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.
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.
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.
Carlos Danger
Top 20
Carlos Danger
Top 20
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.'
BRICK
Regular
Nice!
Good idea
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....
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