AVZ Discussion 2022

[Bin59]

Chinese, Australian investors battle for largest lithium deposit

AVZ Minerals is battling to retain control of the Manono lithium project in DRC, potentially the world’s largest untapped lithium deposit, amid ownership claims from Chinese investors.

www.mining.com

From the mining.com article

“The dispute with Zijin isn’t AVZ’s only shareholder battle over the ownership of the lithium deposits. Last year, the company said it paid Dathomir Mining Resources Sarl $20 million for a 15% stake in the project, bringing its total shareholding to 75%. Now the company, owned by longtime Chinese investor in Congo, Cong Maohuai, has sued in Congo to annul the deal. AVZ’s subsidiary is appealing.

Cong did not immediately respond to an email requesting comment Friday.

The project is planned to develop the first lithium mine in Congo. Cong’s company, Societe de Gestion Routiere du Congo, is managing the rehabilitation of a 290 mile-long export route from Manono at a cost of about $285 million, according to AVZ.”

A long but interesting article below with some references to large tolls collected and Cong Maohuai

China built Congo a toll road that led straight to the ruling family

The Kabilas’ involvement in the toll road came to light through the biggest leak ever of financial documents from Africa.

www.mining.com

 

[Retrobyte]

A long but interesting article below with some references to large tolls collected and Cong Maohuai

China built Congo a toll road that led straight to the ruling family

The Kabilas’ involvement in the toll road came to light through the biggest leak ever of financial documents from Africa.

www.mining.com

After reading that article I am not confident about the future unless Felix can cut the head off the snake (Cong). Cong is balls deep in every corrupt piece of pie going by the look of it.

 

[Bin59]

I’m not sure why we wouldn’t let them go and go with someone else - maybe we couldn’t get the roads built for the same $

 

[LX600]

1st if June is very important. If CATH not transfer the 240m, they will be kicked out. The $20m break fee may belong to AVZ?

 

[Samus]

1st if June is very important. If CATH not transfer the 240m, they will be kicked out. The $20m break fee may belong to AVZ?

That's assuming CATH aren't paying on their terms. It seems just as likely that AVZ may not be accepting payment until some problems are sorted out in the background given what's going on right now?

The 20m could go either way imo, if the current dilemma isn't sorted. May be just as likely the deal is extended again. Unless I'm completely missing something here??

Guess we'll see.

 

[JAG]

 

[JAG]

 

[BEISHA]

Chinese, Australian investors battle for largest lithium deposit

AVZ Minerals is battling to retain control of the Manono lithium project in DRC, potentially the world’s largest untapped lithium deposit, amid ownership claims from Chinese investors.

www.mining.com

From the mining.com article

“The dispute with Zijin isn’t AVZ’s only shareholder battle over the ownership of the lithium deposits. Last year, the company said it paid Dathomir Mining Resources Sarl $20 million for a 15% stake in the project, bringing its total shareholding to 75%. Now the company, owned by longtime Chinese investor in Congo, Cong Maohuai, has sued in Congo to annul the deal. AVZ’s subsidiary is appealing.

Cong did not immediately respond to an email requesting comment Friday.

The project is planned to develop the first lithium mine in Congo. Cong’s company, Societe de Gestion Routiere du Congo, is managing the rehabilitation of a 290 mile-long export route from Manono at a cost of about $285 million, according to AVZ.”

A long but interesting article below with some references to large tolls collected and Cong Maohuai

China built Congo a toll road that led straight to the ruling family

The Kabilas’ involvement in the toll road came to light through the biggest leak ever of financial documents from Africa.

www.mining.com

Thanks for sharing, it seems to me that CONG and KABILA need a good ole flogging ........Johannesburg style......

 

[JAG]

This JAG guys a legend

 

[BEISHA]

This JAG guys a legend

View attachment 7800

Is he the same dude that sends nudies with bikinis on ?

 

[JAG]

Is he the same dude that sends nudies with bikinis on ?

 

[TheCount]

Chinese, Australian investors battle for largest lithium deposit

AVZ Minerals is battling to retain control of the Manono lithium project in DRC, potentially the world’s largest untapped lithium deposit, amid ownership claims from Chinese investors.

www.mining.com

From the mining.com article

“The dispute with Zijin isn’t AVZ’s only shareholder battle over the ownership of the lithium deposits. Last year, the company said it paid Dathomir Mining Resources Sarl $20 million for a 15% stake in the project, bringing its total shareholding to 75%. Now the company, owned by longtime Chinese investor in Congo, Cong Maohuai, has sued in Congo to annul the deal. AVZ’s subsidiary is appealing.

Cong did not immediately respond to an email requesting comment Friday.

The project is planned to develop the first lithium mine in Congo. Cong’s company, Societe de Gestion Routiere du Congo, is managing the rehabilitation of a 290 mile-long export route from Manono at a cost of about $285 million, according to AVZ.”

A long but interesting article below with some references to large tolls collected and Cong Maohuai

China built Congo a toll road that led straight to the ruling family

The Kabilas’ involvement in the toll road came to light through the biggest leak ever of financial documents from Africa.

www.mining.com

Don’t you just love these divisive manipulative fuckwit “journalists” - didn’t immediately respond….. Like as if they’re owed a private line conversation to those with the info!!!

So happy I’ve boycotted all mass media years ago…

 

[CashKing]

View attachment 7799

Fight with seeing as the mods are not doing anything about it…

 

[Frank]

After reading that article I am not confident about the future unless Felix can cut the head off the snake (Cong). Cong is balls deep in every corrupt piece of pie going by the look of it.

Lubumbashi: challenges for the energy transition of the mining sector

The energy transition is taking place around the world. The transition to sustainable energies is already underway.

The DRC, thanks to its global reserves of cobalt and lithium, is on the way to becoming a hub in this transition.

However, to get there, the DRC must overcome enormous challenges

This Tuesday, May 24 in Lubumbashi, the provincial dialogue on the opportunities linked to the energy transition in the mining sector reflected on this.

This dialogue organized by the Natural Resource Governance Institute (NRGI) allowed stakeholders to reflect on the opportunities of the DRC, if the country wants to place itself at the heart of this energy transition.

Hervé Lado, Director of NRGI Central Africa shares the same point of view.

“The trend that we observe and that the world is moving towards the ambition of reducing greenhouse gas emissions by 2050.

Thus leaving the production of sickle energies towards green energies”, explains- before adding “This transition will increase the demand for minerals that go into the manufacture of equipment such as electric batteries. It is in particular, cobalt, lithium, manganese, nickel”.

Indeed, the DRC with its nearly 50% of world reserves of cobalt and other mineral reserves, is therefore at the center of this transition. Because, it goes into the manufacture of electric batteries. This demand alongside lithium could generate large revenues for the DRC.

Challenges

However, for these opportunities to benefit the country, it must overcome enormous challenges.

This is especially good governance. But also, we must clean up the value chain. ”The big challenge is governance, because nothing is missing. The reserves are there, the production too. This will not happen without problems because already there is still opacity, there is still corruption. There is very little accountability. But there are also very few positive results for the population,” explains Hervé Lado.

It notes the fact that there are also issues related to environmental and social impact.

“The DRC is in the top 10 countries with poor governance, politically exposed people continue to own the mines. Besides this, there is no monitoring of environmental and social impacts and the redistribution of income. If this is not resolved, the DRC will not get out of it”, he said again.

Environmental impact could be huge

This idea is shared by Professor Arthur Kanyki. For him, measures must be increasingly reinforced.

“Because the smallest particles are the most insidious and they lead to too severe pathologies. So if we continue to exploit the minerals as we do, that is to say, store the rejects everywhere, transport the minerals as we already do, by breaking the mining code, it will become a serious environmental problem. Because the awareness is always low”, he explained to the provincial dialogue.

In addition to these challenges, there is the consolidation of the artisanal mining value chain and the integration of local content and the energy deficit.

This dialogue will take place in other cities such as Kolwezi, Bukavu and Kinshasa.

www.mediacongo.net

 

[Winenut]

View attachment 7796

Sorry am I missing something here???

The shorters borrowed shares and sold at somewhere above 78c

They purchase back to close out at 30c (if that where the SP goes when we re-open)

They've covered and incurred an interest bill of $8M

And come out $63M in the green

This doesn't look like bad outcome for the shorters....what are Deboss or Jens saying here ffs???

 

[aanti.dumb]

Sorry am I missing something here???

The shorters borrowed shares and sold at somewhere above 78c

They purchase back to close out at 30c (if that where the SP goes when we re-open)

They've covered and incurred an interest bill of $8M

And come out $63M in the green

This doesn't look like bad outcome for the shorters....what are Deboss or Jens saying here ffs???

I think DEBOSS was being sarcastic in reply to the tweet below from Jens in the screen shot..

 

[CashKing]

Sorry am I missing something here???

The shorters borrowed shares and sold at somewhere above 78c

They purchase back to close out at 30c (if that where the SP goes when we re-open)

They've covered and incurred an interest bill of $8M

And come out $63M in the green

This doesn't look like bad outcome for the shorters....what are Deboss or Jens saying here ffs???

Think it’s fixed

 

[Winenut]

Thanks team

Didn't get the piss take going on with Deboss and Jens et al

 

[JAG]

 

[Winenut]

Sorry havin' a bit of fun with a late night cup of coffee.....