AVZ Discussion 2022

[Bray]

Clearly the criminal case brought by Cong against Graeme and Dathcom is causing problems with the DRC government. Although the MoM didn't cite it directly in her cancellation decree. The appeal judge for the criminal proceedings has suspended the sentence and reduced the fine pending AVZ / Dathcom's appeal to the Supreme Court and the outcome will depend on the result of arbitration.

AVZ say they are willing to do a deal with Cong if he withdraws the criminal complaint. But it's been months since they said that and nothing so far. That's because Cong doesn't actually give a fuck about more money and just wants to impede AVZ as much as possible for the benefit of his Chinese masters. The tomato on the crapper also hinted the criminal case will be dropped in exchange for the north indicating further collusion between our enemies.

Without a deal to remove the criminal complaint our only choice is to prove that Cong didn't follow the SPA's correctly in the appropriate forum of the ICC and then return to the highest court within the DRC and have the whole thing thrown out. But that won't happen until Q4 2024 at the earliest. If you voted for the current bod over MMGA at the AGM then you voted for this strategy so suck it the fuck up. At least you have me on your side haha

Bloody thankful ya hear to explain all this shit because honestly I don’t understand 90% written in lawyer speak

Gut still says fucked tho

 

[timb89]

Hey @timb89 although obviously some people object to your postings on HC, I think most people, me included think what you're doing over there is fantastic.

You're absolutely destroying all their bullshit every day, they post insessantly only to appear like their not getting smashed and humiliated but they are badly, everyone sees it. So I just want to encourage you to keep up the great work

It IS infuriating to see the fools post such misinformation, misdirection and outright bullshit, so constantly and without being moderated.
So trust me when I say many hundreds of people smile at their screens when they read you destroying them post after post.

But it's not just about ironing out all the misinformation as you know, it's about discrediting the platform that these trolls are freely allowed to freerange upon.
It's the mods fault for allowing them, so please, continue to make the place stink worse that it ever did!

Cheers mate. I cannot let the cunts that steal from us control the narrative and speak freely. I'm fully aware I'm being annoying. That's my intention. But I can assure everyone I am not in anyway trying to bring that here. If HC is a gutter, I say we treat it as such and refer everyone here.

If we lose this, I'll be the first one championing poltical action to take the Norton Gold Fields.

 

[wombat74]

Clearly the criminal case brought by Cong against Graeme and Dathcom is causing problems with the DRC government. Although the MoM didn't cite it directly in her cancellation decree. The appeal judge for the criminal proceedings has suspended the sentence and reduced the fine pending AVZ / Dathcom's appeal to the Supreme Court and the outcome will depend on the result of arbitration.

AVZ say they are willing to do a deal with Cong if he withdraws the criminal complaint. But it's been months since they said that and nothing so far. That's because Cong doesn't actually give a fuck about more money and just wants to impede AVZ as much as possible for the benefit of his Chinese masters. The tomato on the crapper also hinted the criminal case will be dropped in exchange for the north indicating further collusion between our enemies.

Without a deal to remove the criminal complaint our only choice is to prove that Cong didn't follow the SPA's correctly in the appropriate forum of the ICC and then return to the highest court within the DRC and have the whole thing thrown out. But that won't happen until Q4 2024 at the earliest. If you voted for the current bod over MMGA at the AGM then you voted for this strategy so suck it the fuck up. At least you have me on your side haha

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 ?

 

[BRICK]

Nige.

Call twiggy

 

[Dazmac66]

Nige.

Call twiggy

Twiggy would have 20mil in his ashtray!

 

[Carlos Danger]

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 ?

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

 

[Roger2018]

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

Legal 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

 

[hedrox]

That's right @Carlos Danger ....there is way too much interest of all different players in this project to not let it fall into Chinese hands.
What's a lousy 20 million $ in relation to the value of this enterprise...chicken feed.
Money won't be the problem....ISCD early results show most probably an positive outcome for AVZ.
Let's see.....but that show is far from over...imo

 

[Roger2018]

Legal 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

Also would keep me and probably others off the pension

 

[Carlos Danger]

Legal 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 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

 

[Aeolian]

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

 

[Nellie17]

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

Calos, I appreciate most of your research and your postings. But lets stick to facts.
'At the last minute Mr Pei decided to back mmga instead'!
C'mon Carlos, it was never at the last minute!!

Enjoy your evening,
Nellie

 

[timb89]

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

I would have thought it was pretty clear that Nigel drilled go the level he did to increase the tonnnage in the ground to put some weight behind him at the negotiating table?

 

[Dom1974]

Doesn’t matter how much tonnage Nigel proves up, if Govt doesn’t give us license, who’s going to come to the table?

 

[pow4ade]

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

Wait, are you intimating that we could now be positioning to pay Cong...gasp...the lousy extra 20m he originally sought!?

 

[RHyNO]

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.

 

[Carlos Danger]

Wait, are you intimating that we could now be positioning to pay Cong...gasp...the lousy extra 20m he originally sought!?

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?

 

[Xerof]

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.

Norman?

 

[wombat74]

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

Looks to me like the Chinese want to get the North into production , leave Roche Dure stranded and tie AVZ up in legal sh1t .

I forgot about Cong's $20mil held in escrow . Can it be used as collateral to secure the loan ? If negotiations fail with Cong can we access the $20mil or must it remain in escrow until the ICSID process is complete ?

 

[timb89]

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

If it was me, from a negotiation stand point, I'd have never removed the narrative of going mining from the forefront. Eg. We can sell this to you and make money, or we can take it to mine and make more money. More strength in removing the idea of sale from the table. Makes them the buyer as opposed to us being the seller.

In terms of the upgrading of the resource, I absolutely think the more we have proved the more strength that gives us from a buy out perspective. Eg. "We have 200Mt but everyone knows it has more" isn't going to factor into the bottom line calculations the accountants are doing to price the asset.

Continuing drilling also showed that we are going ahead, business as usual, doing our job etc. Also more work done on the project only helps our case with ISCID.

Not to say you're wrong, we could have got a good price without drilling more, hopefully a calculated risk from management.