AVZ Discussion 2022

[cruiser51]

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KIKI KIENGE
@KiengeKki
·
8h

[Vidéo] Quoi attendre de Judith #Tuluka Suminwa la nouvelle PM et première femme a avoir occupé ce poste en RD Congo. Originaire du Kongo Centrale, ancien ministre du Plan, a aussi exercé au cabinet du ministère du Budget avant de devenir la coordonnatrice adjointe du CPVS.


[Video] What to expect from Judith #Tuluka Suminwa, the new PM and first woman to have held this position in DR Congo. Originally from Kongo Centrale, former Minister of Planning, also worked in the office of the Ministry of Budget before becoming the deputy coordinator of the CPVS.

https://x.com/ezdubs_bot/status/1774924901159231741?s=20

With many thanks to Paul for the translation.

 

[RHyNO]

Wouldn't AVZ leave the option to trade again open (CR ) in the event other options fail ? The new dead line for Locke takes us into delisting territory . Surely trading again is being considered a last resort if needed .

A good thought but I doubt we would be able to list on ASX as misleading statements put management up against disclosure laws. They can’t say “spurious in nature”. (Edit) as it appears at the moment that The claims had deep and true grounding in fact. Not that they weren’t corrupt or manipulative but they certainly are not spurious claims until proven to be by the awarding of an ML, which leaves them basically on the books misleading shareholders. Additionally they don’t have strong legal title over the mine anymore. Not trying to be a downer. But I think we are going down with the ship. I hope Nigel has the stones to buy us all a pint and apologise

 

[LzrTr8dr]

Wouldn't AVZ leave the option to trade again open (CR ) in the event other options fail ? The new dead line for Locke takes us into delisting territory . Surely trading again is being considered a last resort if needed .

We would be too late to relist by that deadline considering the hoops to jump through in order to be ASX-compliant again would we not?

 

[LOCKY82]

 

[Hodlandwin69]

Locke is potentially awaiting outcome of Fat Tail court case, as the court case was meant to be done and dusted by now, but Fat Tail have delayed it 2 or 3 times now. Next court date is scheduled for this Thursday

 

[BRICK]

Locke is potentially awaiting outcome of Fat Tail court case, as the court case was meant to be done and dusted by now, but Fat Tail have delayed it 2 or 3 times now. Next court date is scheduled for this Thursday

Their Chinese masters are teaching them the ways....

 

[Doc]

Wouldn't AVZ leave the option to trade again open (CR ) in the event other options fail ? The new dead line for Locke takes us into delisting territory . Surely trading again is being considered a last resort if needed .

We relist now we won’t be worth 20mil in a month

 

[Hodlandwin69]

We relist now we won’t be worth 20mil in a month

Surely the board just buy up all the shares if they actually believe in the company to protect it from evil groups

 

[SilentOne]

A good thought but I doubt we would be able to list on ASX as misleading statements put management up against disclosure laws. They can’t say “spurious in nature”. (Edit) as it appears at the moment that The claims had deep and true grounding in fact. Not that they weren’t corrupt or manipulative but they certainly are not spurious claims until proven to be by the awarding of an ML, which leaves them basically on the books misleading shareholders. Additionally they don’t have strong legal title over the mine anymore. Not trying to be a downer. But I think we are going down with the ship. I hope Nigel has the stones to buy us all a pint and apologise

Tommy,

I disagree. My thoughts are the announcements were based on the laws of the DRC and the belief that they would be enforced. I dont believe the Board would have known that the shenanigans that have gone on would have had legs. Both the ICC and the ICSID have on the face of it supported AVZ, AVZI & Dathcom todate.

Lets not forget the investigation of the IGF and that the World Bank is holding back billions of dollars.

For the DRC to ignore the ruling of the ICSID would not be in their interest especially it being affiliated with the World Bank.

Lets wait for things to play out.


Regards,

SilentOne - Do your own research and come to your own conclusions

 

[Doc]

If it came down to it , is trading better than extinction ?

In all honestly they are one and the same imo. What do you think happens to a company on the ASX with no money, 4B shares on issue and no clearly defined asset?
None of us will be able to sell shares.
I’m hoping ICC rule in AVZ’s favor for the penalty incurred to date ( is there a date set for this yet to be heard? ). DRC won’t pay it but when given a bill of ten of millions they’ll have to start noticing and that judgment would go a long way to Locke loaning us that 20mil IMO.

 

[cruiser51]

When asked in January when do we start trading Graeme Johnston replied ," We are working on it ."

He would have been pretty stupid if he would have said we are not working on that.
You don't have to be a rocket scientist to work that out.

 

[tonster66]

I would not like it but I would put in a 1k to keep us going, isnt there something like a bond the company can issue?

 

[Hudnut]

The size of the fines are already substantial . Locke will want to be assured they are enforceable .

Which has already been the subject of much discussion here on TSE.
I hope they have better clarity on that than I do.

 

[RHyNO]

My thoughts are the announcements were based on the laws of the DRC and the belief that they would be enforced. I dont believe the Board would have known that the shenanigans that have gone on would have had legs.

You are again correct, i always forget that the DRC are contravening their own law for this insanity. It’s such a wild reality I keep using logic to justify my position but fail to recognise this govt exists outside of it! Wild times. Play out indeed. Wise words.

 

[Hudnut]

Next steps calendar update.
We are halfway through.
Still no word re: Dathomir withdrawing its application to wind up Dathcom on 25th March.
I've added the Fat Tail proceedings supposedly on the 28th Mar, and will update if anyone posts up a rescheduled date.
Also added Locke funding deadline of 31 May.
CAMI portal also still has PR13359 belonging to Cominiere.

We are up to the 3rd of April already. After that hearing we might get some insight regarding steps to turn fines into cash (I'd rather be doing that in the mining sense instead of a legal sense). Maybe an announcement this Thursday?
If the hearing is super favourable we might get an announcement re: Locke sooner rather than later?

 

[Hudnut]

Kicking some other thoughts around:

- Yeah, Locke might be waiting for some other possible info/outcomes as part of their DD. However, as they are the most expensive finance option AVZ might also be holding back for the moment and might only execute after other options are exhausted. Nige and Co would have greater understanding of how quickly we could recover/get funds from fines should the hearing later today go very well.

- There is still also the option of getting some negotiation done (very low probability given there is no established Government ATM)

- Surely they are also talking to the ASX re: a possible relist if that is going to happen. Not saying it will, but if Management have that as an option they must have already started those discussions already.

- The date of 31 May 2024 is an exclusivity period, so Locke must be the only live option for this type of funding or exclusivity is breached. Leaving relisting or recovery of fines as remaining options? What other options are there?

 

[Cumquat Cap]

I think avz working hard to ascertain whether ICSID can force coniniere and or the DRC (soon) to begin paying their fines, waiting until that has been determined before committing to Locke who are prohibitively expensive which would eat into any profit should avz soon have a liquidity event. Fiduciary duty’s and whatnot

 

[Cumquat Cap]

Avz having legal title to the largest spod mine globally, lit funding won’t be a major issue imo, Sundance easily got it for a worse mine in a similar jurisdiction

 

[mouseflying]

Kicking some other thoughts around:

- Yeah, Locke might be waiting for some other possible info/outcomes as part of their DD. However, as they are the most expensive finance option AVZ might also be holding back for the moment and might only execute after other options are exhausted. Nige and Co would have greater understanding of how quickly we could recover/get funds from fines should the hearing later today go very well.

- There is still also the option of getting some negotiation done (very low probability given there is no established Government ATM)

- Surely they are also talking to the ASX re: a possible relist if that is going to happen. Not saying it will, but if Management have that as an option they must have already started those discussions already.

- The date of 31 May 2024 is an exclusivity period, so Locke must be the only live option for this type of funding or exclusivity is breached. Leaving relisting or recovery of fines as remaining options? What other options are there?

If they're the most expensive option, why did our smart board sign an exclusive deal with them? Are they stupid or something?

 

[Cumquat Cap]

Yeah good point and that seems ducking stupid, wonder if it pertains to lit funding or just funding options more broadly, definitely is stupid if it’s the former