AVZ Discussion 2022

[Xerof]

The 4 favourable opinions required under Article 76 of the DRC mining code for approval by the MoM for conversion from PR to PE are cadastral, technical, environmental and social. Dathcom received approval for all of these for the full 221 carres of 13359. This has nothing to do directly with Cominiere.

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Cominiere's main beef with the DFS was us claiming Mpiana Mwanga according to their letter to the MoM in December 2022 which the MoM cited when cancelling Dathcom's granted Mining Licence using no reasons known to the mining code. Disputes between shareholders is under the jurisdiction of the ICC not the MoM. Cominiere never mentioned any of this until the week after the IGF accused them of rat fucking the DRC people out of 120m USD.

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Here is Article 6 of the Dathcom JVA that Cominiere reference in their December 2022 letter to the MoM above. Doesn't mention anywhere that AVZ need Cominiere's approval for the DFS just that we need to submit it to them for examination within 60 months which we did. As the controlling entity of Dathcom we can do whatever the fuck we want in this matter imo

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Thanks mate. Comprehensive response as usual

 

[Dazmac66]

Interesting theory from the Crapper from Allgood:

"In time all will be sorted but if you can see the shenanigans you will also realise that Dathomir- Kabila, put Feliix in power last election and I hear the deal there was that Felix should not get involved in Kabilas business dealings" - this may explain why Felix has been silent on the matter.

With such a dominant win and no reliance on Kabila now to form coalition will Felix make a decision regarding Manono? We can all hope....

Maybe so - I tend to think the Chinese keep sending Felix video snippets of the Rolex unboxing ceremony as reminder to be nice to them.

 

[cruiser51]

Maybe so - I tend to think the Chinese keep sending Felix video snippets of the Rolex unboxing ceremony as reminder to be nice to them.

I think the window of opportunity for Felix to correct his miscalculation, in regards of AVZ, could very well close and the case could backfire on him.
The window will not remain open indefinitely.

The DRC, being landlocked, in that case could well have problems to ship Lithium, Lithium products, or any other product out of the DRC, without ramifications.

Felix has to remember the ICSID is not a toothless tiger.
I don't know if Felix wishes to test the strength of the ICSID and the effect it could have on the DRC economy.

 

[Panther22]

His excellency President ‘Monsieur 73%’ Tshisekedi don’t care imo

Here is the timeline of events in question for the 15% from Cominiere. I have the receipts in English and French to back all of these dates up.

2/10/19 – AVZ offers $15m USD for the 15% from Cominiere. This is before the DFS is completed which will establish market value of the project.

18/2/20 – The Minister of Portfolio (old one not green goblin) responds to AVZ and says sale can’t be approved until DFS is completed to establish market value. Encourages AVZ to ‘speed up work’ on the DFS. Tells AVZ that final price will be subject to a working session with AVZ.

21/4/20 – AVZ completes Dathcom’s DFS which establishes market value of the entire Manono project at $1,028m USD

21/7/21 – Cominiere writes to AVZ asking for our ‘opinion’ on them approving the sale of the 15% to Zijin. Also ask us for money as they broke. Crucially they do not mention the offer price. According to Cominiere this purportedly starts the 40 day time limit for enforcing FROR outlined in Article 9 of the Dathcom JVA.

4/8/21 – AVZ responds to Cominiere through Momentum Lawyers reminding them of our initial interest to purchase the 15% and their request for us to discuss the offer with the MoP. Notifies them of our desire to enforce the FROR. Reminds them of their commitment to cede 10% to the DRC government under the Dathcom JVA. Invites them to discuss the offer price with us as we have FROR and are still interested in buying the 15%. AVZ received no response to this letter from Cominiere.

30/8/21 – Cominiere’s purported 40 day time limit expires

20/9/21 – AVZ submits offer to purchase the 15% from Cominiere to the MoP at the market valuation of $154m USD established in the DFS

8/11/21 – AVZ writes a formal notice to Cominiere and Zijin saying they have been made aware that the purported sale of the 15% has been executed (I don’t know the exact date this occurred but it was sometime in September 2021 according to Zijin). Reminds them both of our FROR rights. Puts them both on notice to cease actions on this matter immediately.

9/5/22 – Zijin finally updates its shareholders and the market of its purported acquisition of the 15% of Dathcom from Cominiere at the below market value established in the DFS price of $33.4m USD. Weird silence from them for over 6 months there lol

11/5/22 – AVZ announces to the ASX that Zijin have initiated proceedings through the ICC to be recognised in Dathcom

30/11/22 – The IGF report is released to the public outlining the loss of revenue of $120.7m USD to the DRC people from the below market value of the purported sale of the 15% from Cominiere to Zijin. Says management of Cominiere and the MoP are responsible for the DRC people being rat fucked out of the $120.7m USD. Also says the $33m USD received by Cominiere was squandered and nothing has been allocated to the operation of Cominiere and they are broke because of this.

Thanks Carlos. Brilliant summation

 

[Pokok]

Tomorrow is Australia Day , so I will celebrate the day with my Indonesian wife , my half cast kids , my best mate Abo Steve ,my kids partner a pommy , at our local lebo resto , now that is Australia

 

[Pokok]

I changed the B to an F on my bucket list , I feel so much better now

 

[Winenut]

I think the window of opportunity for Felix to correct his miscalculation, in regards of AVZ, could very well close and the case could backfire on him.
The window will not remain open indefinitely.

The DRC, being landlocked, in that case could well have problems to ship Lithium, Lithium products, or any other product out of the DRC, without ramifications.

Felix has to remember the ICSID is not a toothless tiger.
I don't know if Felix wishes to test the strength of the ICSID and the effect it could have on the DRC economy.

The DRC isn't land locked......but not by much

https://en.wikipedia.org/wiki/Banana,_Democratic_Republic_of_the_Congo

 

[Winenut]

Nice clear image of what I think is the fairly current state of Camp Colline

Remember that place?

 

[cruiser51]

The DRC isn't land locked......but not by much

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https://en.wikipedia.org/wiki/Banana,_Democratic_Republic_of_the_Congo

The DRC is slightly snookered with Port of Banana.

Port of Banana to Manono by road is in excess of 3,500 km. No rail connection.

To explain that, Perth to Melbourne by road is 3,500 km. There is also a rail connection between Perth and Melbourne.

There is of course the Congo river, however I didn't bother looking at that, other than cars to Port of Banana have to cross the Congo river at Matadi, they always could use the port of Matadi. , nudge, nudge.

 

[cruiser51]

The DRC is slightly snookered with Port of Banana.

Port of Banana to Manono by road is in excess of 3,500 km. No rail connection.

To explain that, Perth to Melbourne by road is 3,500 km. There is also a rail connection between Perth and Melbourne.

There is of course the Congo river, however I didn't bother looking at that, other than cars to Port of Banana have to cross the Congo river at Matadi, they always could use the port of Matadi. , nudge, nudge.

GENERAL DESCRIPTION​

Location: Banana lies on the N bank and almost at the mouth of the of the Congo River (Zaire River).
General overview: The port is used for handling general cargoes and also oil cargoes, by STS (ship to ship) transfer at the anchorage for the refinery. Traffic figures: Approx 50 vessels and 10,100t of cargo handled annually.
Load line zone: Tropical. Max size: Banana Anchorage: LOA 190m (up to 250m accepted with prior consent from harbour master), draught 11.0m FW.
Alongside: LOA 125m, draught 5.4m.

So alongside will be able to take a barge, but not a serious ocean going vessel.
Just so the nut understands, Outer Harbour max draught is 14m and the larger vessels have to wait for high tide to refloat.

Having a ship on the anchorage with a max draught of 11m and loading with shuttle barges is another hurdle.

Might as well first spend some money on Inga 3 as a smarter alternative.

 

[Xerof]

Nice clear image of what I think is the fairly current state of Camp Colline

Remember that place?

View attachment 55126

Any views of CDL full of drilling rigs?

 

[Winenut]

GENERAL DESCRIPTION​

Location: Banana lies on the N bank and almost at the mouth of the of the Congo River (Zaire River).
General overview: The port is used for handling general cargoes and also oil cargoes, by STS (ship to ship) transfer at the anchorage for the refinery. Traffic figures: Approx 50 vessels and 10,100t of cargo handled annually.
Load line zone: Tropical. Max size: Banana Anchorage: LOA 190m (up to 250m accepted with prior consent from harbour master), draught 11.0m FW.
Alongside: LOA 125m, draught 5.4m.

So alongside will be able to take a barge, but not a serious ocean going vessel.
Just so the nut understands, Outer Harbour max draught is 14m and the larger vessels have to wait for high tide to refloat.

Having a ship on the anchorage with a max draught of 11m and loading with shuttle barges is another hurdle.

Might as well first spend some money on Inga 3 as a smarter alternative.

Yes it's a long way from Manono totally agree. Dar es Salaam is about 2000km so defintely closer

The planned development by DP World significantly increases the capability

https://www.dpworld.com/news/releas...ark-the-start-of-construction-of-banana-port/

It's just possible options and it's the only route that is wholly within the DRC and doesn't require transport through neighbouring countries

Just interesting stuff and a bit of info

Not much else going on at the moment....

 

[Winenut]

Any views of CDL full of drilling rigs?

Mmmm.....

What's this?

And this???

 

[Flight996]

Mmmm.....

What's this?

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And this???

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It's the new hospital and school promised by the Chinese in return for plundering the nation's wealth.

 

[cruiser51]

Yes it's a long way from Manono totally agree. Dar es Salaam is about 2000km so defintely closer

The planned development by DP World significantly increases the capability

View attachment 55136
https://www.dpworld.com/news/releas...ark-the-start-of-construction-of-banana-port/

It's just possible options and it's the only route that is wholly within the DRC and doesn't require transport through neighbouring countries

Just interesting stuff and a bit of info

Not much else going on at the moment.... s

I might crack a shiraz tonight, waiting for next court updates.
Don't expect any DRC changes, they are busy sorting a new government.

 

[cruiser51]

Mmmm.....

What's this?

View attachment 55137

And this???

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Drilling a tunnel to mine RD from CdL?

 

[Xerof]

I might crack a shiraz tonight, waiting for next court updates.
Don't expect any DRC changes, they are busy sorting a new government.

FMD, I crack a Shiraz every night

Except when Margaritas get in the way🫤🫤

 

[Xerof]

Mmmm.....

What's this?

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And this???

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Those look like old structures, possibly water bore towers? The scrub around them looks undisturbed and we all know Z would make a complete fucking mess of the surrounding environment

 

[Winenut]

Mmmm.....

What's this?

View attachment 55137

And this???

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Hang on!!

I think I've really spotted something

 

[Winenut]

FMD, I crack a Shiraz every night

Except when Margaritas get in the way🫤🫤

Only one bottle of Shiraz?