AVZ Discussion 2022

[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

 

[Frank]

“The formation of the government will have a single, unique and primordial criterion, which is professional competence”, Judith Suminwa Tuluka

A few hours after her appointment as Prime Minister, Judith Suminwa Tuluka, published this Tuesday, April 2, 2024, in her X account that her first battles at the head of the government remain the exchange rate, lasting peace in the East and the social. And her government that she will put in place in the next few days will be called a government of professional competence.

“The formation of the next government will have only one single and overriding criterion, which is professional competence, therefore my government will be called “the government of professional competence.

My first struggles: exchange rate, lasting peace in the East, social...", she wrote

The Congolese expect more from the new Prime Minister, Judith Suminwa Tuluka, the improvement of their socio-economic situation, the stability of the exchange rate against foreign currencies and stability in the eastern part of the Democratic Republic of Congo, prey to insecurity, caused by M23 terrorists under the cover of Paul Kagame's regime.

After the appointment of the Prime Minister, here are the constitutional procedures which will lead to the inauguration of the Government

The Prime Minister, Judith Suminwa Tuluka, appointed on Monday April 1 by the President of the Republic, must in the days following her appointment, first of all proceed with the formation of her Government which must take into account national representativeness, in under article 90 of the constitution.

Then, the Government will define, in consultation with the President of the Republic, the policy of the nation and will assume responsibility for it before the National Assembly, in accordance with article 91 of the Constitution.

After the development of her Government's action plan based on government programs, the Prime Minister will present the said program to the National Assembly which will be submitted for debate.

And finally will come the stage of the investiture of the Government by the National Assembly after debate around its program.

The Government can only take office when its program is approved by an absolute majority of deputies, in accordance with article 90 of the Constitution.

However, there is another major prerequisite for the Government to be invested in the National Assembly: it is the vote and the installation of the definitive office of the lower house of Parliament, because the provisional office currently in place has not capacity, under article 114 of the Constitution, to invest the Government.

mediacongo

The Proof will be in the Pudding how "Professional" it is, let alone Competent Prime Minister