Can't have been anyone from the AFR if they gave off journo vibes.
AVZ Discussion 2022
- Thread starter GazDix
- Start date
Can't have been anyone from the AFR if they gave off journo vibes.
Samus
Top 20
We got betrayed by Mr pee pees.
I was in the same row. He was passing me when he started turning on the drama about his phone.
He is a LTH. I have spoken to him at length at a previous major shareholders event.
I was surprised to see him "passing notes" with the MMGA lawyer. And even more surprised by the question he asked re due diligence around Locke, which seemed to demonstrate a complete misunderstanding of the situation. And Nigel called him on it nicely.
I don't think he's a journo, but I could have that wrong. Wouldn't be the first time haha. I guess if Tom Richardson can be called a journo it's not setting the bar very high.
Chilla
Regular
They would never discuss those items at the AGM which was primarily dealing with an existential threat to the assets of the company by the Chinese attempting a board coup. You don’t open the hen house to let the wolves have a massacre.
Whilst we are frustrated and devoid of lots of information….that information is extremely sensitive and is being sought by the corrupt Chinese to use against us and steal our asset.
You need to understand when it’s appropriate to ask certain questions and when it’s not. This is not that time.
Carlos Danger
Top 20
A bloke up the front on the left asked about this. (poor guy, it took him about four goes to get his first question in - "sorry sir that question is not applicable to this section of the meeting" - added a bit of comic relief to the proceedings at least).
Anyway, where was I?
Yes, the question was asked and the response from what I recall was a standard Nigel vague answer along the lines of "yes we are looking into cost cutting measures wherever available" or something to that effect.
From memory (yes that thing again), the question was bundled in with a remuneration question as well so there was a pre-scripted part to the answer. It was along the lines of stuff we've already heard about cash bonuses to compensate for spending lots of time abroad.
There certainly wasn't any talk of executive pay cuts.
Maybe just going back to Blend 43...
They was my recollection - they all sat at about 33 for, 66 against.
And the board was all pretty comfortable except for JC who was only borderline for.
The attacks will only cease when you refuse to let it rile you. It's only really a handful anyway. Consider them unreconstructed bogans with all the gravitas of girly TicTockers and led by a schizophrenic sock-puppet. Works for me.agreed, would love nothing more when the attacks cease
Winenut
GO AVZ!!!!
Good questions from the other Nut......but not necessarily to be answered at this particular time
Time now is to consolidate the respects and wishes of the AVZ shareholders as indicated by the voting at the AGM
And by the way .....#FuckMMGA..... right up the fucking arse
Glad I didn't go then. All we need to know is the results of resolution voting if they are going to tell us SFA about the actual operations of the business I part own and what our employees have been doing for a few years until I eventually find out whether it's worth anything in the end.
I'd like to know when they can be answered.
Carlos Danger
Top 20
Misfits
Regular
100% Chilla. Finally someone else gets it. Silly people including the owl on HC have been ridiculing why no formal Q and A.
kron
Regular
That is a very thorough summary for those that missed out. Also, it wasn't a free for all for questions. The format of the meeting was questions were only taken for each resolution in the AGM pamphlet. Firstly was questions about the Annual report document, after that was renumeration package followed by individual candidates. If you wanted an answer outside of this you had to phrase it creatively...
Winenut
GO AVZ!!!!
It's incredible isn't it
Who'd have thought that posters on HC would be complete and utter fucking retards.......
cruiser51
Top 20
Why even bother about that wanker?
kron
Regular
I asked early on in the meeting but got shut down. Not related to the Annual report apparently... Later they mentioned that Ben had spent ~246 days overseas and a lot of that time in DRC in relation to a question on their renumeration. But that's the closest of anything we heard.I guess nothing was asked about the situation on the ground with our tenement then?
Like whether or not Zijin/cominiere coacroaches are crawling all over the camp and the core samples...
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kron
Regular
Im no fan of Hoots, he fell of the rails hard but I disagree. If you can't ask questions in a room full of shareholders once a year, when would be an appropriate time?
Glad you noticed.
Well thank you Jag, great to meet up with you brother, i thought it was classic that i was having a cig across the road from where you parked initially, then when you got out of the car with your " FUCK MMGA " shirt on, i knew right there and then before we even shook hands for the first time .....that it was likely to be youI’m just gonna say one thing….
I will leave the day’s proceedings including lunch to @BEISHA to summarise
Great to catch up with DEBOSS, Hadley brothers, @EarleofBarrow ,@Roon ,@tonster66 ,@Scoota30 ,@John25 and plenty of other individuals pre AGM
Deboss gathered us all in and gave us a pep talk about the etiquette required when asking questions of the BOD or MMGA, great camaraderie !!
As i was at the booth to register my attendance, guess who was behind me ?..............Peter Huljich
Guess who was in front of me flicking his nose with his finger pretending to be on cocaine in reference to Peter Huljich?............JAG
200 strong crowd attended i reckon, BOD were emphasising decorum when asking any questions regards to resolutions ,John Clarke was in complete control of the narrative.
REMUNERATION RESOLUTION
Questions were asked about the cash bonuses and lack of cost cutting considering the balance sheet was dwindling.
In a round about way the BOD did confirm cash bonuses were awarded due to the fact Nige & Co have spent 240+ days in the DRC fighting for our cause ( way beyond the call of duty regards to being away from family etc )
Remuneration is market indexed to retain the best personnel regards to skill set and delivering outcomes for AVZ.
AVZ BOD confirmed that the 20m credit facility plus remaining cash ( 11.5m ) is sufficient to cover salaries, working capital and arbitration litigation going forward
AVZ BOD reiterated that they are eager and willing to negotiate on good terms to expedite ICC / ISCID arbitrations.
Resolution was passed in the affirmative
Resolution 2 - 17 were rejected by a large majority !!
Meaning MMGA are ...
GONE, FUCKED, FAT TAIL BETWEEN THE LEGS.........
RESOLUTION 18 - 22 ( Graeme Johnston, Dr John Clarke, Dr Casta Tungaraza, Serge Ngandu, Her Exellency Salome Sijaona were approved in the affirmative by a large majority..........
Sadly, as soon as resolution 1 - 22 were resolved, the curtains were drawn down.............meeting closed , no question time !
Apparently question time was nailed on the head because of threats of defamation litigation against AVZ BOD by MMGA plus AVZ BOD didnt want to reveal any info with the defeated Ludbrook, Carrick , Huljich still in the room........"I spie with my little eye something beginning with Xi".......springs to mind.
Anyway, that didnt deter me , so i decided to approach the BOD in person after the meeting concluded as i had alot of questions prepared and didnt want to waste a opportunity to ask.
Firstly, i introduced myself to Her Excellency Salome Sijaona, congratulated her on her appointment then asked her why she was endorsed to join the BOD, i suggested... "could it be your extensive connections within africa could lead to projects outside of Manono ? "
She replied..........YES !
I also asked what FT attitude was towards AVZ and this long drawn out fuckery.........she wasnt prepared to comment, but she did reveal that light is at the end of the tunnel...decades of corruption means the wheel slowly turns
She also revealed that DRC locals support AVZ, they appreciate the good will directed towards them in contrast to Zijin .
Locals are most impressed by the fact Nigel has learnt french so he can speak the native tongue !
I moved on to Graeme Johnston and asked whether the BOD has held one on one meetings with FT.
NO.....only via FT private advocates, however there is strong suspicion that those advocates have been complimented with brown paper bags, thus getting in the ear of FT talking negatively of AVZ in the covid period, so trust is low.
Moved on to see Nigel.
He can confirm that Cominiere is doing works on the Hydro power station, he also confirmed that Zijin is drilling holes in CDL.
All this despite the emergency injunctions preventing such action !........
Nigel not concerned, he maintains that AVZ has very strong cases against Cominiere / Zijin / DRC govt with iCC / ISCID arbitrations and every day illegal works is done, $100,000 penalties acrue, i asked how this penalty could be enacted on and he confirmed ICC has no juristiction in country, however private assets could be seized, but more importantly ,he mentions that the collective ICC / ISCID / IMF / WORLD BANK are all interconnected and the recent deliberation against DRC was damning.
World Bank suspends $1 billion worth of project funding in Congo
The World Bank has suspended funding for humanitarian and development projects in Democratic Republic of Congo worth more than $1 billion after the government dissolved the project fund without warning, the lender said.
In actuality, DRC applied for 13b from World Bank, but was only awarded 3B , minus 1B for the deliberation above.
The financial squeeze is impacting DRC
Sustained bunsen burners applied to DRC govt by the interconnected global organizations is forcing the DRC govt to come back to the negotiating table with AVZ and nothing will be concluded until conditions are agreed upon that is favourable to AVZ...........aka MOU.
Nigel stated that the defeat of MMGA today at the AGM is another pivotal moment.
The 20m credit facility another dagger in the heart of detractors whos intention from the get go, was to bleed AVZ dry financially and complete the steal, that eventuality now thwarted.
I also asked about the CATH relationship...........
Mr Pei is frustrated by the ML delays, Pei was invited to come to the DRC by AVZ and witness the road blocks first hand to garner a understanding of the delay, initially he accepted, but when he mentioned off the cuff that it could be a good opportunity to conduct a private meeting with Simon Cong ....the offer was retracted ( no shit sherlock...........shifty as fuck imo )
Cath deal is a 50 /50 proposition.......not in the bag by any stretch and i got the strong impression that there wasnt alot of concern if a break away fee was awarded either way.........
I can also confirm that AVZ bod has had discussions with FT political opponents, should FT not win re election.
Apparently one of FT opponents is scathing with FT lack of mining results as per one of his mandates( achieving better outcomes for DRC govt with chinese mining deals post Kabila , no doubt Manono gets a mention too ) and that will formulate the main argument to the locals not to re elect him..........no argument from me !
So AVZ have covered their bases in that regard.
So going forward, Nigel stated to me that he will be flying back to DRC soon and continue the good fight, looking forward to some impending ICC deliberations and continue to have open dialogue to negotiate and agree on outcomes that are favourable to AVZ and long suffering LTSH.
Not sure the MOU will be resolved before DRC elections.
More patience required but Her Exellency Salome comments.........." light at the end of the tunnel " gives me confidence that this long drawn out fuckery will result in AVZ being winners at the end.
When ?
Who the fuck knows.
imo
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Good on Nige for learning the locals language.Well thank you Jag, great to meet up with you brother, i thought it was classic that i was having a cig across the road from where you parked initially, then when you got out of the car with your " FUCK MMGA " shirt on, i knew right there and then before we even shook hands for the first time .....that it was likely to be you
Great to catch up with DEBOSS, Hadley brothers, @EarleofBarrow ,@Roon ,@tonster66 ,@Scoota30 ,@John25 and plenty of other individuals pre AGM
Deboss gathered us all in and gave us a pep talk about the etiquette required when asking questions of the BOD or MMGA, great camaraderie !!
As i was at the booth to register my attendance, guess who was behind me ?..............Peter Huljich
Guess who was in front of me flicking his noise pretending to be on cocaine in reference to Peter Huljich?............JAG
200 strong crowd attended i reckon, BOD were emphasising decorum when asking any questions regards to resolutions ,John Clarke was in complete control of the narrative.
REMUNERATION RESOLUTION
Questions were asked about the cash bonuses and lack of cost cutting considering the balance sheet was dwindling.
In a round about way the BOD did confirm cash bonuses were awarded due to the fact Nige & Co have spent 240+ days in the DRC fighting for our cause ( way beyond the call of duty regards to being away from family etc )
Remuneration is market indexed to retain the best personnel regards to skill set and delivering outcomes for AVZ.
AVZ BOD confirmed that the 20m credit facility plus remaining cash ( 11.5m ) is sufficient to cover salaries, working capital and arbitration litigation going forward
AVZ BOD reiterated that they are eager and willing to negotiate on good terms to expedite ICC / ISCID arbitrations.
Resolution was passed in the affirmative
Resolution 2 - 17 were rejected by a large majority !!
Meaning MMGA are ...
View attachment 50364
View attachment 50365
GONE, FUCKED, FAT TAIL BETWEEN THE LEGS.........
RESOLUTION 18 - 22 ( Graeme Johnston, Dr John Clarke, Dr Casta Tungaraza, Serge Ngandu, Her Exellency Salome Sijaona were approved in the affirmative by a large majority..........
Sadly, as soon as resolution 1 - 22 were resolved, the curtains were drawn down.............meeting closed , no question time !
View attachment 50366
Apparently question time was nailed on the head because of threats of defamation litigation against AVZ BOD by MMGA plus AVZ BOD didnt want to reveal any info with the defeated Ludbrook, Carrick , Huljich still in the room........"I spie with my little eye something beginning with Xi".......springs to mind.
Anyway, that didnt deter me , so i decided to approach the BOD in person after the meeting concluded as i had alot of questions prepared and didnt want to waste a opportunity to ask.
Firstly, i introduced myself to Her Excellency Salome Sijaona, congratulated her on her appointment then asked her why she was endorsed to join the BOD, i suggested... "could it be your extensive connections within africa could lead to projects outside of Manono ? "
She replied..........YES !
I also asked what FT attitude was towards AVZ and this long drawn out fuckery.........she wasnt prepared to comment, but she did reveal that light is at the end of the tunnel...decades of corruption means the wheel slowly turns
But she did reveal that DRC locals support AVZ, they appreciate the good will directed towards them in contrast to Zijin .
Locals are most impressed by the fact Nigel has learnt french so he can speak the native tongue !
I moved on to Graeme Johnston and asked whether the BOD has held one on one meetings with FT.
NO.....only via FT private advocates, however there is strong suspicion that those advocates have been complimented with brown paper bags, thus getting in the ear of FT talking negatively of AVZ in the covid period, so trust is low.
Moved on to see Nigel.
He can confirm that Cominiere is doing works on the Hydro power station, he also confirmed that Zijin is drilling holes in CDL.
All this despite the emergency injunctions preventing such action !........
Nigel not concerned, he maintains that AVZ has very strong cases against Cominiere / Zijin / DRC govt with iCC / ISCID arbitrations and every day illegal works is done, $100,000 penalties acrue, i asked how this penalty could be enacted on and he confirmed ICC has no juristiction in country, however private assets could be seized, but more importantly ,he mentions that the collective ICC / ISCID / IMF / WORLD BANK are all interconnected and the recent deliberation against DRC was damning.
World Bank suspends $1 billion worth of project funding in Congo
The World Bank has suspended funding for humanitarian and development projects in Democratic Republic of Congo worth more than $1 billion after the government dissolved the project fund without warning, the lender said.www.reuters.com
In actuality, DRC applied for 13b from World Bank, but was only awarded 3B , minus 1B for the deliberation above.
The financial squeeze is impacting DRC
Sustained bunsen burners applied to DRC govt by the interconnected global organizations is forcing the DRC govt to come back to the negotiating table with AVZ and nothing will be concluded until conditions are agreed upon that is favourable to AVZ...........aka MOU.
Nigel stated that the defeat of MMGA today at the AGM is another pivotal moment.
The 20m credit facility another dagger in the heart of detractors whos intention from the get go, was to bleed AVZ dry financially and complete the steal, that eventuality now thwarted.
I also asked about the CATH relationship...........
Mr Pei is frustrated by the ML delays, Pei was invited to come to the DRC by AVZ and witness the road blocks first hand to garner a understanding of the delay, initially he accepted, but when he mentioned off the cuff that it could be a good opportunity to conduct a private meeting with Simon Cong ....the offer was retracted ( no shit sherlock...........shifty as fuck imo )
Cath deal is a 50 /50 proposition.......not in the bag by any stretch and i got the strong impression that there wasnt alot of concern if a break away fee was awarded either way.........
I can also confirm that AVZ bod has had discussions with FT political opponents, should FT not win re election.
Apparently one of FT opponents is scathing with FT lack of mining results as per one of his mandates( achieving better outcomes for DRC govt with chinese mining deals post Kabila , no doubt Manono gets a mention too ) and that will formulate the main argument to the locals not to re elect him..........no argument from me !
So AVZ have covered their bases in that regard.
So going forward, Nigel stated to me that he will be flying back to DRC soon and continue the good fight, looking forward to some impending ICC deliberations and continue to have open dialogue to negotiate and agree on outcomes that are favourable to AVZ and long suffering LTSH.
Not sure the MOU will be resolved before DRC elections.
More patience required but Her Exellency Salome comments.........." light at the end of the tunnel " gives me confidence that this long drawn out fuckery will result in AVZ being winners at the end.
When ?
Who the fuck knows.
imo
That's worth a bonus IMO. Shows the kind of company we want to be.
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