AVZ Discussion 2022
- Thread starter GazDix
- Start date
Carlos Danger
Top 20
must be a typo right, meaning 2020? Otherwise doesn't fitby it's letter dated 31 December 2021?
clutching.....
give us the answer
Anyway Carlos can you tell us why Cong's argument was flawed? As reading this document hurt my brain a litle.
Apart from already having agreed to the price and had deposits paid. Something to do with the 'regular extraordinary meeting'? Which as an aside seems a condradiction in terms. Or that the assignor can at any time cancel the assignation of shares? That seems to go against the contract terms.
Last edited:
Carlos Danger
Top 20
by it's letter dated 31 December 2021?
clutching.....
give us the answer
No one outside of the parties involved has seen the SPA's. The only clues we have are from this court record and AVZ's official announcements. Both of those sources agree that completion of the transactions occurs when payment hits da bank. Cong cites Article 2.1 of the SPA's for this fact. This event occurred on or about 13/8/21 according to AVZ and on 16/8/21 according to Dathomir which is backed up by the bank statement.
The only thing that could have stopped it was a domestic stay of payment but the writ for that was served to AVZ on 28/8/21 which is after completion occurred according to Cong's timeline of events
As for the need for a Dathcom EGM this was not a condition precedent of the SPA's according to AVZ. Cong says it 'should' have happened because it occurred in previous transfers but he doesn't cite anything from the agreements when claiming this.
Without going into the long boring details of OHADA the article that Cong cites about waiving the sale is about negotiations using an expert to value the shares in an absence of agreements. The judge was never asked to rule on the merits of his arguments about termination and repeatedly recognises the need for this matter to be heard by an arbitral judge. The ICC taking on these cases indicates to me that they are the ones named in the SPA's for dispute resolution just like in the Dathcom JVA and they have agreed with AVZ on everything so far.
Obviously I would need to read the SPA's to know for sure if Cong has grounds for termination or renegotiation but the fact that both parties have acknowledged that completion occurs on payment, Cong couldn't back up his EGM claim from the agreements themselves and the ICC are hearing the cases and resticting Dathomir's actions within the DRC is enough for me. And DLA Piper too obvs
Last edited:
Excellent response, as always.No one outside of the parties involved has seen the SPA's. The only clues we have are from this court record and AVZ's official announcements. Both of those sources agree that completion of the transactions occurs when payment hits da bank. Cong cites Article 2.1 of the SPA's for this fact. This event occurred on or about 13/8/21 according to AVZ and on 16/8/21 according to Dathomir which is backed up by the bank statement.
The only thing that could have stopped it was a domestic stay of payment but the writ for that was served to AVZ on 28/8/21 which is after completion occurred according to Cong's timeline of events
As for the need for a Dathcom EGM this was not a condition precedent of the SPA's according to AVZ. Cong says it 'should' have happened because it occurred in previous transfers but he doesn't cite anything from the agreements when claiming this.
Without going into the long boring details of OHADA the article that Cong cites about waiving the sale is about negotiations using an expert to value the shares in an absence of agreements. The judge was never asked to rule on the merits of his arguments about termination and repeatedly recognises the need for this matter to be heard by an arbitral judge. The ICC taking on these cases indicates to me that they are the ones named in the SPA's for dispute resolution just like in the Dathcom JVA and they have agreed with AVZ on everything so far.
Obviously I would need to read the SPA's to know for sure if Cong has grounds for termination or renegotiation but the fact that both parties have acknowledged that completion occurs on payment, Cong couldn't back up his EGM claim from the agreements themselves and the ICC are hearing the cases and resticting Dathomir's actions within the DRC is enough for me. And DLA Piper too obvs
View attachment 56851 View attachment 56852 View attachment 56853 View attachment 56854 View attachment 56855 View attachment 56856 View attachment 56857 View attachment 56858 View attachment 56859 View attachment 56860
Carlos Danger
Top 20
Cong never directly claims the lack of a Dathcom EGM is the reason he considers the agreements as not complete (Dathomir EGM for 2020 agreement occurred 22/9/20 according to copy I have). AVZ responded to the ASX when addressing that issue. Cong cites the payment clause and lack of Dathcom EGM as grounds for his purported right to seek renegotiation and subsequent termination of the agreements.Yep, nice
I had originally thought the missing EGM resolution from Dathomir might be an Achilles.
Hadn’t picked up on the date/stay etc
Good work fella
From then on both parties are operating under two different assumptions. AVZ continue as if the agreements are still valid and Cong doesn't. AVZ say Cong has no right to variation of the price and that he didn't give any arguable, let alone determative, basis for termination of the SPA's.
AVZ also say that Dathomir's criminal complaints in this matter are not only about money but also serve to 'discredit AVZ's standing with the DRC government and assist Cominiere and Zijin (with each of whom it is acting in concert) in misappropriating the Manono Project'
Like I said yesterday Cong clearly had other motives for his actions than just lining his own pockets. If he was only interested in money he would have kept his 240 million free AVZ shares (worth $330m AUD at ATH) and used the valuation in the DFS for negotiations of the 2020 agreement. Cong's primary intention was to try and get rid of AVZ from the project by any means necessary imo
So the 20 million dollar question is did Cong correctly follow the SPA's and have a right to variation of price and termination or was he just trying to rat fuck us any way he could?
Last edited:
I was going to read further but you grabbed my attention , I applied for a credit card 9 weeks ago , I am on workers comp for another 40 weeks then back to work , I was denied as I have no full time job , show me where a full time job is more secure than workers comp fu
LK me AVZ has put me in a shit position from owning a home in Sydney to pleading for a Credit Card , fuckkkkkkkmthese pric?s stay very rich see no racist comment while the little man is out of the loop , I for 1 think we will get nothing , not even our money back , I have all but given up now but lets see if we get easter eggs ( HA ) or a Xmas present this year or will we be still talking till I am living on the street , these cunts dont care
Yeah i think chances of seeing something is low. We've definitely been fucked over and from that perspective I am ok if the company fucks everyone over too.
Have said in the past that if we don't get that win/win situation then i want everyone to lose/lose (DRC/China)
Its a long time investment now....but I dont think we will end up with nothing.
To much on the plate for the DRC.....they can't only complete ignore AVZ....the world is watching.
Some kind of a deal will happen, nobody wants to see this story dragging on forever in courts and arbitration.
and if so......it will take a long long time to see back any dosh.
Grandkids will be very happy....haha
To much on the plate for the DRC.....they can't only complete ignore AVZ....the world is watching.
Some kind of a deal will happen, nobody wants to see this story dragging on forever in courts and arbitration.
and if so......it will take a long long time to see back any dosh.
Grandkids will be very happy....haha
so I am on the money , I also this ground is so big there might be many countries that dont want it to be mined , Aus included its all about money for everybody we are just the small turds , so for anybody here that is so confident that AVZ will be a winner for them I have 90,000 shares at 79c lets see if I can sell them , I dont fuck5n think so anti up
trust your gut....but gotta have some hope in life..gut says no chance of getting $$ back, hope says yeah we got a chance..
whom do we trust
I’m ignoring the inaction from the court orders as I hope there are negotiations going on behind closed doors. The DRC know what a mess has been created and would want to salvage some credibility amongst international investors…I hope.
AVZ is good at pulling out carrots after a few lemons appear.
I’m looking forward to confirmation the 20mil loan has been secured to fight this through.
Hopeful for all investors who have endured this unbelievable horror ride.
Tough times and the venting is needed but stay strong and positive people.
20.0000 investors is a big voice to screw with!
AVZ is good at pulling out carrots after a few lemons appear.
I’m looking forward to confirmation the 20mil loan has been secured to fight this through.
Hopeful for all investors who have endured this unbelievable horror ride.
Tough times and the venting is needed but stay strong and positive people.
20.0000 investors is a big voice to screw with!
Similar threads
