TheCount
Regular
Have you just declared Friday drinks open?
TC.
AVZ Discussion 2022
- Thread starter GazDix
- Start date
TC.
Carlos Danger
Top 20
Carlos Danger
Top 20
I can't fucking wait for our AGM haha
www.9news.com.au
'Shame on you': Qantas chairman jeered at AGM before unprecedented protest vote against executive pay
Qantas chairman Richard Goyder has been jeered at the embattled airline's annual general meeting, shortly before it was revealed a massive 83 per cent of shareholders voted against the company's executive pay report.
Shareholder Chris Maxworthy was asking a follow-up about the decision to allow former CEO Alan Joyce to sell most of his shares shortly before the ACCC announced it was taking the national carrier to court for allegedly selling tickets for cancelled flights.
After saying he would give Goyder the benefit of the doubt over the decision, but after questioning the timing and share price of the sale, the chairman asked for Maxworthy's microphone to be switched off, sparking boos, jeers and cries of "shame on you" from shareholders.
"We would never as a board or executive, and this goes to your question on ethics, would never ever do anything that we felt was illegal," Goyder said beforehand.
"And so we felt it was the right thing to do … I've got absolutely zero concern about the ethics of the people who sit alongside me (on the board)."
Joyce sold just under $17 million worth of shares in June after announcing his resignation. The share price then was $6.75.
The ACCC announced its court action on August 31, and Qantas' share price now sits at about $5.20, although fell to as low as $4.67 last week.
Goyder wasn't the only executive to face the ire of investors.
The entire board was issued a stinging rebuke when 83 per cent of shareholders voted against Qantas' remuneration report, which sets the pay for executives including Joyce and his replacement Vanessa Hudson.
The protest vote is well above the 25 per cent required for a "first strike" and one of the largest in Australian corporate history.
It is also the first time Qantas has ever received a remuneration strike, and while it doesn't have any material impact this year, a second consecutive strike next year would trigger an unprecedented spill of the Qantas board.
'Shame on you': Qantas chairman jeered before huge protest vote
'Shame on you': Qantas chairman jeered at AGM before unprecedented protest vote against executive pay
Qantas chairman Richard Goyder has been jeered at the embattled airline's annual general meeting, shortly before it was revealed a massive 83 per cent of shareholders voted against the company's executive pay report.
Shareholder Chris Maxworthy was asking a follow-up about the decision to allow former CEO Alan Joyce to sell most of his shares shortly before the ACCC announced it was taking the national carrier to court for allegedly selling tickets for cancelled flights.
After saying he would give Goyder the benefit of the doubt over the decision, but after questioning the timing and share price of the sale, the chairman asked for Maxworthy's microphone to be switched off, sparking boos, jeers and cries of "shame on you" from shareholders.
"We would never as a board or executive, and this goes to your question on ethics, would never ever do anything that we felt was illegal," Goyder said beforehand.
"And so we felt it was the right thing to do … I've got absolutely zero concern about the ethics of the people who sit alongside me (on the board)."
Joyce sold just under $17 million worth of shares in June after announcing his resignation. The share price then was $6.75.
The ACCC announced its court action on August 31, and Qantas' share price now sits at about $5.20, although fell to as low as $4.67 last week.
Goyder wasn't the only executive to face the ire of investors.
The entire board was issued a stinging rebuke when 83 per cent of shareholders voted against Qantas' remuneration report, which sets the pay for executives including Joyce and his replacement Vanessa Hudson.
The protest vote is well above the 25 per cent required for a "first strike" and one of the largest in Australian corporate history.
It is also the first time Qantas has ever received a remuneration strike, and while it doesn't have any material impact this year, a second consecutive strike next year would trigger an unprecedented spill of the Qantas board.
Azzler
Top 20
Dude they open at Midday.
Samus
Top 20
You have to admit the likeness is pretty funny!
I was just stirring, I think you've proven to be of the more sensible among us.
cruiser51
Top 20
What about the shift workers?
Nellie17
Regular
The huge difference is Carlos, our CEO (Nigel) never sold a share, when he could have, if he had wanted too!I can't fucking wait for our AGM haha
'Shame on you': Qantas chairman jeered before huge protest vote
'Shame on you': Qantas chairman jeered at AGM before unprecedented protest vote against executive pay
Qantas chairman Richard Goyder has been jeered at the embattled airline's annual general meeting, shortly before it was revealed a massive 83 per cent of shareholders voted against the company's executive pay report.
Shareholder Chris Maxworthy was asking a follow-up about the decision to allow former CEO Alan Joyce to sell most of his shares shortly before the ACCC announced it was taking the national carrier to court for allegedly selling tickets for cancelled flights.
After saying he would give Goyder the benefit of the doubt over the decision, but after questioning the timing and share price of the sale, the chairman asked for Maxworthy's microphone to be switched off, sparking boos, jeers and cries of "shame on you" from shareholders.
"We would never as a board or executive, and this goes to your question on ethics, would never ever do anything that we felt was illegal," Goyder said beforehand.
"And so we felt it was the right thing to do … I've got absolutely zero concern about the ethics of the people who sit alongside me (on the board)."
Joyce sold just under $17 million worth of shares in June after announcing his resignation. The share price then was $6.75.
The ACCC announced its court action on August 31, and Qantas' share price now sits at about $5.20, although fell to as low as $4.67 last week.
Goyder wasn't the only executive to face the ire of investors.
The entire board was issued a stinging rebuke when 83 per cent of shareholders voted against Qantas' remuneration report, which sets the pay for executives including Joyce and his replacement Vanessa Hudson.
The protest vote is well above the 25 per cent required for a "first strike" and one of the largest in Australian corporate history.
It is also the first time Qantas has ever received a remuneration strike, and while it doesn't have any material impact this year, a second consecutive strike next year would trigger an unprecedented spill of the Qantas board.
View attachment 48749
Cheers,
Nells
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Winenut
GO AVZ!!!!
Carlos Danger
Top 20
I've repeatedly said I'm voting yes for remuneration to stop our opponents having more ammunition to attack the BoD with post AGM. But I'm not happy about the idea of raising capital in suspension especially when current cash is being used to potentially fund cash bonuses for management. And I'm sure there will be many people that don't care about what happens post AGM and will vote no for remuneration regardless. 25% is a far easier hurdle than 50% and it got really fucking close last year.
And I also suspect that the Qantas AGM won't be the only one with jeers. Albeit for different reasons than the CEO selling shares. More likely to be because the CEO couldn't sell his shares even if he wanted to during the last 18 months.
Hodlandwin69
Regular
One of the issues people are overlooking with disclosure issues, is that if AVZ were to keep telling us everytime a BS court case came up or corruption issue, it would clearly negatively affect the share price, opening an avenue for a hostile take over from the very people creating these bogus corrupt legal issues.
It's a fine line AVZ have been walking and you're welcome to interpret it how you want. But if the share price tanked due to a bunch of fake legal challenges and opposition forces bought up big then the board wouldn't be in control currently (if you call this control) and it would already have been handed over to Xi Jing Ping, or they just buy out the company for cheap and end up getting the ML and fake cases dropped pumping shareholder value which would be predominantly hostile opponents.
Hope that makes sense, I kinda rambled
It's a fine line AVZ have been walking and you're welcome to interpret it how you want. But if the share price tanked due to a bunch of fake legal challenges and opposition forces bought up big then the board wouldn't be in control currently (if you call this control) and it would already have been handed over to Xi Jing Ping, or they just buy out the company for cheap and end up getting the ML and fake cases dropped pumping shareholder value which would be predominantly hostile opponents.
Hope that makes sense, I kinda rambled
Remark
Top 20
https://getyarn.io/yarn-clip/0c8433fb-f082-42c5-a37b-52feef76d28bYou have to admit the likeness is pretty funny!
I was just stirring, I think you've proven to be of the more sensible among us.
thorgin
Regular
literally first thing I thought of was tubgirlWell, in my younger days I was subjected to some Japanese porn that, well let's just say shits all over that comment. and everything else within range.
Azzler
Top 20
Ahh Tubgirl, Goatse and Lemonparty.
The hallmarks that will brand our generation in history.
I feel so proud.
Azzler
Top 20
Uhh excuse me blokes, are you all aware that it happens to be Friday night, and well past 8:30pm even, and I am seeing a positive fucking lack of shitposting and shenannigans?
The fuck is this site even for if not for Friday night pissed shenannigans?
Let lose ya kunce!
@Dave Evans would be rolling in his future grave at the lack of genuine Australianian laricanism.
The fuck is this site even for if not for Friday night pissed shenannigans?
Let lose ya kunce!
@Dave Evans would be rolling in his future grave at the lack of genuine Australianian laricanism.
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Samus
Top 20
#MANONO #LITHIUM Local authorities and the population of Manono are impatiently awaiting the +/- 2,500 direct jobs and at least 10,000 indirect jobs from the @AvzMinerals project, blocked by a decision of @MinMinesRDC.
@Presidence_RDC
@DeniseNyakeru
@adelekayinda01
@anskalambayi
Frank
Top 20
Fyi, In other News, I see where
Loaded with minerals critical to the production of batteries and other renewable energy components, Zambia and the Democratic Republic of Congo have become the latest venue in the struggle for advantage between Washington and Beijing.
As part of its stated ambition to challenge China’s dominance, the Biden administration saw an opportunity to revitalize a century-old rail line linking key African mines to an Atlantic Ocean port.
Called the Lobito corridor, the US is investing hundreds of millions of dollars on the project.
In the Bloomberg Originals mini-documentary How the US Can Rival China in Africa, we show how the initiative could offer a quick route to the US and the European Union for these critical elements.
But the US is late to the game.
China first built a rail line in the 1970’s heading eastward out of the Copperbelt to the port of Dar es Salaam in Tanzania.
A Chinese state company later rebuilt a key railway line in Angola at an estimated cost of $2 billion.
Over the past decade, President Xi Jinping’s Belt and Road Initiative has seen China invest almost $1 trillion dollars on infrastructure projects in developing countries.
The US hasn’t come close to matching that.
Now, this may be changing, with the Lobito corridor serving as a flagship for the plan by US President Joe Biden and the Group of Seven to invest $600 billion in similar projects over five years.
However, it’s not just infrastructure that China has dominated.
Much of Congo’s copper production is controlled by Chinese companies, and there’s been little US investment in Zambian mining.
A Silicon Valley startup called KoBold metals says it wants to alter that dynamic.
Backed by Bill Gates and OpenAI’s Sam Altman, the company is racing to transform its massive copper deposit in northern Zambia into a mine that will be a key beneficiary of the Lobito corridor project.
www.mining.com/web/chinas-grip-on-africas-minerals-sparks-a-us-response/
Africa’s top lithium producer, Zimbabwe hopes demand for the mineral, which is key for renewable energy storage, will help revive its ailing economy.
Lithium is set to become Zimbabwe’s third biggest mineral export after gold and platinum group metals, which registered $2.46 billion and $2.27 billion in export receipts last year.
“The revenue generated from the export of lithium grew from $1.8 million in 2018 to $70 million in 2022.
By September 2023, a total of $209 million had been realized from lithium exports,” Soda said at a mining conference in Bulawayo.
Chinese firms, including Zhejiang Huayou Cobalt, Sinomine Resource Group, Chengxin Lithium Group, Yahua Group and Canmax Technologies, have spent more than $1 billion over the past two years to acquire and develop lithium projects in Zimbabwe.
Most of these companies have built processing plants commissioned this year and are shipping lithium concentrates to China for further processing.
Zimbabwe’s government banned raw lithium exports last year, as it seeks to get more value from the mineral.
Other major producers are expected to start operations in Zimbabwe in 2024 as the country seeks to expand output, Soda said.
The planned investment, a tenfold increase on the $271 million pledged in the same period last year, dwarfs that of its closest rival, the United Arab Emirates, which eon licenses to invest $498.5 million.
The total value of investment licenses awarded was $3.41 billion.
Chinese applications “were the most by number and investment value with mining being their most preferred sector followed by the manufacturing sector,” the Zimbabwe Development Agency, the state-owned unit tasked with securing investment, said in a report on Wednesday.
China accounted for more than two thirds of the 180 applications.
Chinese companies have been buying lithium mines, which supply a key component for the batteries used in electric vehicles.
They are also involved in revamping and building power plants in the country.
Of the planned investment $2.8 billion is slated for energy projects and $411 million for mining.
One China-backed project is a $2.3 billion planned energy and mining complex that will process minerals in Mapinga while another is 500 megawatt solar energy project.
The mines ministry said Wednesday the country has earned $209 million in revenue from lithium exports in the nine months to September.
www.mining.com
Food for thought ( Felix you Fool )
GLTAH's
Cheers
Frank
China’s grip on Africa’s minerals sparks a US response
The US is going full steam ahead in its effort to catch up with China in a part of the world that’s become central to the green transition: Africa’s “Copperbelt.”
Loaded with minerals critical to the production of batteries and other renewable energy components, Zambia and the Democratic Republic of Congo have become the latest venue in the struggle for advantage between Washington and Beijing.
As part of its stated ambition to challenge China’s dominance, the Biden administration saw an opportunity to revitalize a century-old rail line linking key African mines to an Atlantic Ocean port.
Called the Lobito corridor, the US is investing hundreds of millions of dollars on the project.
In the Bloomberg Originals mini-documentary How the US Can Rival China in Africa, we show how the initiative could offer a quick route to the US and the European Union for these critical elements.
But the US is late to the game.
China first built a rail line in the 1970’s heading eastward out of the Copperbelt to the port of Dar es Salaam in Tanzania.
A Chinese state company later rebuilt a key railway line in Angola at an estimated cost of $2 billion.
Over the past decade, President Xi Jinping’s Belt and Road Initiative has seen China invest almost $1 trillion dollars on infrastructure projects in developing countries.
The US hasn’t come close to matching that.
Now, this may be changing, with the Lobito corridor serving as a flagship for the plan by US President Joe Biden and the Group of Seven to invest $600 billion in similar projects over five years.
However, it’s not just infrastructure that China has dominated.
Much of Congo’s copper production is controlled by Chinese companies, and there’s been little US investment in Zambian mining.
A Silicon Valley startup called KoBold metals says it wants to alter that dynamic.
Backed by Bill Gates and OpenAI’s Sam Altman, the company is racing to transform its massive copper deposit in northern Zambia into a mine that will be a key beneficiary of the Lobito corridor project.
www.mining.com/web/chinas-grip-on-africas-minerals-sparks-a-us-response/
Zimbabwe lithium export earnings treble as projects take off
Zimbabwe earned $209 million from lithium exports in the first nine months of 2023, nearly treble last year’s earnings, Mines Minister Zhemu Soda said on Wednesday, as Chinese-driven mining and processing projects take off.
Africa’s top lithium producer, Zimbabwe hopes demand for the mineral, which is key for renewable energy storage, will help revive its ailing economy.
Lithium is set to become Zimbabwe’s third biggest mineral export after gold and platinum group metals, which registered $2.46 billion and $2.27 billion in export receipts last year.
“The revenue generated from the export of lithium grew from $1.8 million in 2018 to $70 million in 2022.
By September 2023, a total of $209 million had been realized from lithium exports,” Soda said at a mining conference in Bulawayo.
Chinese firms, including Zhejiang Huayou Cobalt, Sinomine Resource Group, Chengxin Lithium Group, Yahua Group and Canmax Technologies, have spent more than $1 billion over the past two years to acquire and develop lithium projects in Zimbabwe.
Most of these companies have built processing plants commissioned this year and are shipping lithium concentrates to China for further processing.
Zimbabwe’s government banned raw lithium exports last year, as it seeks to get more value from the mineral.
Other major producers are expected to start operations in Zimbabwe in 2024 as the country seeks to expand output, Soda said.
China to invest $2.8 billion in Zimbabwe in lithium, energy
Chinese companies were awarded licenses in the third quarter that could see $2.79 billion of investment flow into Zimbabwe, mostly in mining and energy as the government pushes to develop some of Africa’s biggest lithium deposits and end power outages.
The planned investment, a tenfold increase on the $271 million pledged in the same period last year, dwarfs that of its closest rival, the United Arab Emirates, which eon licenses to invest $498.5 million.
The total value of investment licenses awarded was $3.41 billion.
Chinese applications “were the most by number and investment value with mining being their most preferred sector followed by the manufacturing sector,” the Zimbabwe Development Agency, the state-owned unit tasked with securing investment, said in a report on Wednesday.
China accounted for more than two thirds of the 180 applications.
Chinese companies have been buying lithium mines, which supply a key component for the batteries used in electric vehicles.
They are also involved in revamping and building power plants in the country.
Of the planned investment $2.8 billion is slated for energy projects and $411 million for mining.
One China-backed project is a $2.3 billion planned energy and mining complex that will process minerals in Mapinga while another is 500 megawatt solar energy project.
The mines ministry said Wednesday the country has earned $209 million in revenue from lithium exports in the nine months to September.
www.mining.com
Food for thought ( Felix you Fool )
GLTAH's
Cheers
Frank
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