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 ...
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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 !
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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.
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