Twiggy would have 20mil in his ashtray!Nige.
Call twiggy
Twiggy would have 20mil in his ashtray!Nige.
Call twiggy
What concerns me is Locke have until the end of March to decide whether they want to loan us the $20 mil . Roughly around the same time we'll be running on the fumes of fumes .What concerns me is Locke have until the end of March to decide whether they want to loan us the $20 mil . Roughly around the same time we'll be running on the fumes of fumes . Who agreed to that dumb ass condition ? What's Nigel's back up plan if Locke tell us to sod off ? Should he have attempted to raise funds earlier ? Anyone have any ideas ? Surely we have not come this far to fall on our sword due to financial mismanagement ?
Legal aid?What concerns me is Locke have until the end of March to decide whether they want to loan us the $20 mil . Roughly around the same time we'll be running on the fumes of fumes .
Sans investing activities we should have enough until at least Q3 at current burn rate but funding will need to be sorted by July at the latest imo
Also we have to pay Locke 200k USD if they say no or even if they just don't make a decision by the end of March unless due diligence exclusive period is extended
Announcement about term sheet says 'AVZ's preference continues to be to achieve resolution of the various disputes by agreement. However, AVZ's opponents have adopted a strategy of delaying negotiations in anticipation that AVZ will run out of funds and be unable to protect its rights. The Binding Term Sheet with Locke Capital demonstrates that this strategy will not succeed. If necessary, AVZ will prosecute all of the proceedings.'
Who agreed to that dumb ass condition ?
The bod
What's Nigel's back up plan if Locke tell us to sod off ?
We hired Poynton Stavrianou (corporate advisory firm) a few months back to lead efforts to raise funding. Hopefully they have some tricks up their sleeves.
Either that or Nigel will read Postcard from Mallorca for pointers
Should he have attempted to raise funds earlier ?
Yes definitely. Or not have drilled as much once it was apparent we would potentially need to spend years in litigation. I find it bizarre that we are needing to rely on an external company's read of the situation for our financial and potentially operational future when we had 65 million bucks in da bank when entering suspension.
Anyone have any ideas ?
We can raise funds through existing shareholders. Or potentially a private equity deal. But terms would be horrendous for our valuation imo
One good sign is that Jan hasn't quit yet haha
Surely we have not come this far to fall on our sword due to financial mismanagement ?
Surely
Also would keep me and probably others off the pensionLegal aid?
Seriously though Aus government should fund legal costs. If Avz won - got to mine, they would get a shit load of tax just from cap gains
CATH did waive the ML requirement for the TIA completion. Maybe we can ask them hahaLegal aid?
Seriously though Aus government should fund legal costs. If Avz won - got to mine, they would get a shit load of tax just from cap gains
What concerns me is Locke have until the end of March to decide whether they want to loan us the $20 mil . Roughly around the same time we'll be running on the fumes of fumes .
Sans investing activities we should have enough until at least Q3 at current burn rate but funding will need to be sorted by July at the latest imo
Also we have to pay Locke 200k USD if they say no or even if they just don't make a decision by the end of March unless due diligence exclusive period is extended
Announcement about term sheet says 'AVZ's preference continues to be to achieve resolution of the various disputes by agreement. However, AVZ's opponents have adopted a strategy of delaying negotiations in anticipation that AVZ will run out of funds and be unable to protect its rights. The Binding Term Sheet with Locke Capital demonstrates that this strategy will not succeed. If necessary, AVZ will prosecute all of the proceedings.'
Who agreed to that dumb ass condition ?
The bod
What's Nigel's back up plan if Locke tell us to sod off ?
We hired Poynton Stavrianou (corporate advisory firm) a few months back to lead efforts to raise funding. Hopefully they have some tricks up their sleeves.
Either that or Nigel will read Postcard from Mallorca for pointers
Should he have attempted to raise funds earlier ?
Yes definitely. Or not have drilled as much once it was apparent we would potentially need to spend years in litigation. I find it bizarre that we are needing to rely on an external company's read of the situation for our financial and potentially operational future when we had 65 million bucks in da bank when entering suspension.
Anyone have any ideas ?
We can raise funds through existing shareholders. Or potentially a private equity deal. But terms would be horrendous for our valuation imo
One good sign is that Jan hasn't quit yet haha
Surely we have not come this far to fall on our sword due to financial mismanagement ?
Surely
Calos, I appreciate most of your research and your postings. But lets stick to facts.CATH did waive the ML requirement for the TIA completion. Maybe we can ask them haha
Perhaps Nigel drilled so hard because he was told money was available if needed by Mr Pei before CATH decided (at the last minute of course) to back MMGA instead
CATH did waive the ML requirement for the TIA completion. Maybe we can ask them haha
Perhaps Nigel drilled so hard because he was told money was available if needed by Mr Pei before CATH decided (at the last minute of course) to back MMGA instead
Wait, are you intimating that we could now be positioning to pay Cong...gasp...the lousy extra 20m he originally sought!?Locke aren't taking equity but you can bet your bottom dollar they will be first in line to get paid back. 20 million usd is an awfully familiar amount. I was just talking about it yesterday![]()
No. I'm intimating that if we win all the court cases and still don't get the ML or have a deal and we need to start seizing assets to recoup funds, that our damages claim against Cong at the ICC will be more than 20m and Locke will be paid back using the money sitting in Christian Lukusa's bank account.Wait, are you intimating that we could now be positioning to pay Cong...gasp...the lousy extra 20m he originally sought!?![]()
Norman?What a crock! I’d love to know what our entire executive branch is doing with their over 1k per day Pay packets and bonuses! MMGA was a complete hustle to distract us from tearing the entire lot of them a new arsehole. Should have all been put on notice but instead we were defending a false flag. Everyone here all the posts blaming this government DRC and AUS. There is only one person responsible for this predicament and he’s barely getting a mention. Starts with an N.
Looks to me like the Chinese want to get the North into production , leave Roche Dure stranded and tie AVZ up in legal sh1t .Early ICSID results are about maintaining the status quo. We won't have a hearing about the merits until June 2025. Although I am extremely confident that Dathcom will win.
It's not really a question of the value of the project for any potential funding supplier. It's about ability to recover their investment. Locke aren't taking equity but you can bet your bottom dollar they will be first in line to get paid back. 20 million usd is an awfully familiar amount. I was just talking about it yesterday![]()
So all that talk at the roadshow and then of the MoU about going mining was all bullshit?
Pretty sure we could have gotten a good offer with 75% of the latest drilling if that was the case
I had no idea how much more Cong wanted. All the court records say he wanted an expert to value it. How did you know the amount?No. I'm intimating that if we win all the court cases and still don't get the ML or have a deal and we need to start seizing assets to recoup funds, that our damages claim against Cong at the ICC will be more than 20m and Locke will be paid back using the money sitting in Christian Lukusa's bank account.
I had no idea how much more Cong wanted. All the court records say he wanted an expert to value it. How did you know the amount?
What is the possibility in exchange for the ML we give Dathomir back the 15% ? What's better 51% or years in court and no $$$$$?Yes that's my read on it too
Potentially. But not because of negotiations failing. It could possibly be accessed if we win our case against Cong at the ICC and get a damages award of more than 20m. In that event we could seize the returned money to pay back Locke and still retain our good legal title of 75% of Dathcom for the purposes of our case at the ICSID against the DRC government.
100% agree... A strategic amount!Early ICSID results are about maintaining the status quo. We won't have a hearing about the merits until June 2025. Although I am extremely confident that Dathcom will win.
It's not really a question of the value of the project for any potential funding supplier. It's about ability to recover their investment. Locke aren't taking equity but you can bet your bottom dollar they will be first in line to get paid back. 20 million usd is an awfully familiar amount. I was just talking about it yesterday![]()