Hoping these easily disprovable lies from Cominiere comes back to bite them at some point, Felix has to make a move sometime soon one would think
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.
, very concise!
