Hi Carlos ,, I can't see where it says no more wages will be paid to any directors until this is sorted out that would save money this year , and if we get the go ahead for mining where is the money coming from ,
AVZ Discussion 2022
- Thread starter GazDix
- Start date
Pokok,
The Board has done an exceptional job in keeping us in the game considering all the mischief that they have had to deal with. Of course, they should continue to be paid - I wouldn't want their job.
I am reading your statement as a poorly placed joke.
Regards,
SilentOne
Carlos Danger
Top 20
Expense says exploration and evaluation so most likely a fair chunk was spent on the JORC certification process. Although it does seem excessive.
Joke to an extent , and no I would not want their job but do you remember during the recession we had to have years ago myself and my partner worked for no wages 1 year to keep a booming business going and we did ,,is 6mill is enough cash to get us through this year ?
IMO we will know our fate by end of march.
1) I'd expect some sort of direction in relation to the DRC Gov/JV in terms of if there is progression.
2) Also we will know by then whether we will have an additional $20M available.
Although I wouldn't be surprised to see everything on hold (including point 1) until #2 is known. Everyone will know that they have us by the balls if the funding doesn't come through and they may just delay more as opposed to negotiate.
1) I'd expect some sort of direction in relation to the DRC Gov/JV in terms of if there is progression.
2) Also we will know by then whether we will have an additional $20M available.
Although I wouldn't be surprised to see everything on hold (including point 1) until #2 is known. Everyone will know that they have us by the balls if the funding doesn't come through and they may just delay more as opposed to negotiate.
Carlos Danger
Top 20
We've burned just under $65m in the 20 months of suspension up to end of 2023. By the end of March Nigel will have personally been paid $1m while in suspension inclusive of known cash bonuses for the inconvenience of needing to travel to the DRC where our only asset is. We now have 7 bod members. I find it extraordinary they aren't cutting directors wages as I have said many times previously. Time to deliver an outcome.
According to official announcements the majority of cash for construction is coming from CATH who voted against the current bod at the AGM. We have now spent all the money we raised in December 2021 for early construction costs. Some of that money was meant to pay for part of the 15% of Dathcom from Cominiere too lol
Thanks that answers my question , I know i'm not the only person thinking about the future and it was nothing personal to the directors it was just my business mind working overtime as I am sure their doing their best as it is their interest also.
Ashlee
Regular
Without securing the asset we won’t have to worry about startup costs, our only game at the moment is to secure the asset, and after today’s announcement we know it’s worth a shitload more.
Anyone know how to interpret this one from Quarterly:
Subsequent to 31 December 2023, the Company has agreed with Acuity Capital to extend the expiry date of its At-the-Market Subscription Agreement (ATM) to 31 January 2027. As previously announced, the ATM was initially established with an expiry of March 2024 (see previous ASX announcement dated 3 December 2021). The Company has, to date, not raised any capital through its ATM. There is no requirement on the Company to utilise the ATM and there were no fees or costs associated with the extension of the ATM. Further, no additional security has been provided or required in relation to the ATM extension.
Subsequent to 31 December 2023, the Company has agreed with Acuity Capital to extend the expiry date of its At-the-Market Subscription Agreement (ATM) to 31 January 2027. As previously announced, the ATM was initially established with an expiry of March 2024 (see previous ASX announcement dated 3 December 2021). The Company has, to date, not raised any capital through its ATM. There is no requirement on the Company to utilise the ATM and there were no fees or costs associated with the extension of the ATM. Further, no additional security has been provided or required in relation to the ATM extension.
Carlos Danger
Top 20
Our current financial situation provides significant further impetus for a negotiated outcome imo
Lucas Don Velor
Regular
Xerof
Have a Cigar 1975
So the facility is simply extended about 3 years. But in reality it can only be drawn down if we are trading, as pricing has VWAP terms involved.
See Lucas's post with full details above this one
"In light of the above, there is a reasonable prospect that a party, including the Company, will be granted a PE in respect of both the Roche Dure and Carriere de l’Este Mineral Resources"
Are they taking the p1ss? Nice upgrade nonetheless . At least the DRC can now calculate how much they are going to be sued for .
Are they taking the p1ss? Nice upgrade nonetheless . At least the DRC can now calculate how much they are going to be sued for .
He would make a fantastic president, but the brown paper bag receivers and or China operatives would probably find a way to make him disappear.....
Cumquat Cap
Regular
Agreed, it’s a fucking joke they are spending us into oblivion, I don’t understand it as Nigel has way more to lose if we go into administration.
He obviously knows something we don’t but it seems insane from an external perspective
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