AVZ Discussion 2022
- Thread starter GazDix
- Start date
Another thought I had which some of you may not agree on is that I don't believe it is fully dependent on who is right or who has what legally.
In an ordinary situation yes it would be, but for this situation even if AVZ was in the right and has 75% ownership at the moment, I believe nothing will change unless the DRC Gov steps up and tells china to STFU.
In an ordinary situation yes it would be, but for this situation even if AVZ was in the right and has 75% ownership at the moment, I believe nothing will change unless the DRC Gov steps up and tells china to STFU.
JAG
Top 20
All I can say is..... fuck the chinese and there world wide domination,,,,,time to move on.
its now not about them anymore !
‘Live by the sword, die by the sword’: Chinese plot to take control of Congolese lithium mine could crash Australian firm’s shares
BY:LOUIS GOSS
A plot by a coalition of powerful Chinese battery manufacturers, to take control of the world’s biggest lithium mine, threatens to crash the share price of Australian miner AVZ Minerals, a mysterious short seller has said.
AVZ Minerals could lose control over the Manano lithium mine in the Democratic Republic of Congo (DRC) and be left with a minority 36 per cent stake in the resource, if a plot being led by Chinese businessman Simon Cong is successful, Boatman Capital Research has said in a new report.
The report comes in the midst of a battle for control over the DRC mine between AVZ Minerals and Chinese miner Zijin Mining, which has seen AVZ voluntarily suspend trading of its own shares on the Australian Stock Exchange.
In its new report, Boatman Capital Research argues that AVZ is “being deliberately squeezed out of the Manono project,” as it claims the plot could see AVZ’s stake drop to just 36 per cent.
The scheme could see Zijin Mining and Chinese lithium miner CATH Energy Technologies take a combined 39 per cent stake in the mine, after CATH struck a deal with AVZ to buy a 24 per cent stake in the Congolese mine for $240m.
The short selling group warned that “at best, AVZ faces months or years of legal fights to block Zijin Mining and to claim shares from Dathcom Mining Resources. At worst, AVZ will lose control of Manono and be left with just 36 per cent of the project.”
Deal or no deal?
The spat comes as AVZ claims that it currently owns a 75 per cent stake in Dathcom Mining – the local company that owns the rights to the Congolese resource – with the remaining 25 per cent held by DRC government backed company Cominiere.
The Australian firm says it upped its stake in the mine, from 60 per cent to 75 per cent, after buying a 15 per cent stake from Cominiere.
Deal or no deal?
" DRC Govt wont want to advertise this in any way "My thinking is DRC government won't want to advertise this in any way and I'm optimistic it will be dealt with as quietly as possible through the proper legal channels in the background. Not a good look sending Julien all over the world seeking foreign investment while some crooks and hyenas get away with selling state assets for personal gain to a foreign company with a terrible record of ethics and in breach of existing agreements.
The concern related to this is how long it might take.
I'm also hopeful management haven't missed anything critical and perhaps this is the bigger worry considering the fact they still can't seem to iron out the typos slipping through into asx announcements.
lol, the horse has bolted son .......
Samus
Top 20
What I mean to say is that I wouldn't expect them to jump in with a whole lot of conjecture until there is an official legal outcome, same as AVZ management." DRC Govt wont want to advertise this in any way "
View attachment 7281
lol, the horse has bolted son .......
Yep, i get you.
Winenut
Go AVZ!
I get the communication thing @John25
100% when running a business that's paramount. No argument
When it translates to the bigger picture and the world stage (countries, govts, legalities, geo-political concerns, corruption, super serious coin etc etc etc ) it is still absolutely necessary to communicate
But even more so in the correct, measured, appropriate, balanced, careful, considered, beneficial and timely way to ensure the best interests of all stakeholders are not only preserved but maximised
Yes communicate 100% to the shareholders agreed.......but with high stakes and many adversarial parties looking to potentially rip your throat out be measured and wise in the speed and quantity of the transparent information you release to the "open" market
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CeckRaiseFold
Regular
I'm as desperate as anyone on this site for some information from AVZ or DRC officials for that matter. But when I take a minute to reflect, I really believe AVZ is handling this correctly by not getting into a tit for tat mud slinging match and instead manage this through proper channels and not through megaphone or dodgy social media campaigns. it would be an unwinnable battle and more fule to the fire of the smear campaigners. Staying above the fray will keep the integrity and trustworthiness intact in all the relationships AVZ have built in the DRC and with its big bank investors. As tempting as it is to get out there with both barrels blazing, I think the wall of silence and very brief ASX announcements until facts can be presented and trading halt lifted is the best way forward.
Yep agree, good post.
Just need to ride it out............once again........AVZ style.
bloke383
Regular
I would love to know what is going on behind the scenes as well . But I think Zinjin/Hayou/China would LOVE to know even more so what Nigel & the lawyers plans are .... which is why there is silence . Speaking of silence , out of all the interested/competing parties I don't think we have heard 1 word from Mr Pei/CATH ? I would have thought a major supportive partner (non govt) would have come out with some sort of statement in support of AVZ & Nigel by now . I will bet my last dollar that they are intrinsically involved in this mess unfortunately . I would love either the USA with all the dollars they want to spend internationally on strategic minerals , or the Europeans to come on board so Nigel can tell Mr Pei his dollars aren't required & we will be taking this project forward with a more preferred partner . As far as I'm concerned the deal with Mr Pei shouldn't proceed until it is set in stone that we will end up with no less than 51% at the completion of all transactions .
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CeckRaiseFold
Regular
Too right, you do not know who's been doing deals with who in this environment. Confirmation of 75% Dathcom ownership first, then dilution of interest for cash. Remember CATH want the Li and a stake in the mine to be vertically integrated in this business. AVZ holds the key to that, let's keep that key in AVZ's clenched fist for a little while longer please!
TDITD
Top 20
Catching up on posts, an absolutely agree with what’s being said.
AVZ keeping cards close to chest, going through proper channels and not stamping their feet (Zijin & Cominiere looking at you). It’s the best way and keeps China inc guessing, it’s also giving particular people within Cominiere and others Government related entities enough rope with which to hang themselves. It sucks, an can piss you off at times so it’s good to be able to step away from social media and reflect on the whole picture, when we do this nothing really changes for AVZ and it’s prospects.
AVZ keeping cards close to chest, going through proper channels and not stamping their feet (Zijin & Cominiere looking at you). It’s the best way and keeps China inc guessing, it’s also giving particular people within Cominiere and others Government related entities enough rope with which to hang themselves. It sucks, an can piss you off at times so it’s good to be able to step away from social media and reflect on the whole picture, when we do this nothing really changes for AVZ and it’s prospects.
Chase
Regular
Exactly mate!
Frank
Top 20
100%
John25
Regular
Pfffttt have a look at my 7,700 +crapper post ..NOT once have i posted on a non held stock ..away you go ,check
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