AVZ Discussion 2022
- Thread starter GazDix
- Start date
Cumquat Cap
Regular
Pretty modest digs which is good to see, a drop in the ocean with Graeme and Peter Clark’s salaries though, do we need these guys anymore? Prefer to save 450k per annum then require a technical director (bfs in the can) and a chairman who hasn’t done fuck all since he gave himself heaps of options then went into a 2 year halt. I know I’m harping but seriously?
David Krappenschitz
Regular
The one thing I would like to know is the DRC’s reasons for not complying with interim order, like what was their rebuttal to the ICSID ruling exactly? If we knew this we’d have a more decent idea of what’s happening. Guessing that info is not allowed to be released
TheCount
Regular
We have a BOD of 11 - how many of those are no longer required? Problem will be separation in their contracts will be just as delicious as those free share and options they've hoovered along the way...
DRC's unofficial response was
Samus
Top 20
Can't say it's given me the warm and fuzzies silent, but I don't think they had any other choice that wasn't worse.
The position that puts us in isn't fantastic but this whole fucking mess hasn't been fantastic either.
All I'm personally interested in at this point is holding the these fuckers accountable, then I hope we either sell or squeeze billions in compensation out of the cunts over the next decade.
The shit we've witnessed and they've so far got away with you wouldn't even read about it. FMD if you'd told me this is what was going to happen a few years back I'd have told you you're completely out of your fucking mind and laughed in your face.
If I was a dodgy Chinese business...there's two things I could do...tell CATH to make a take over offer of say 40-50 cents and obviously they would then get the ML and away they go(they would tell the government they would pay all fines also)Or, just sit and wait until AVZ relinquish the tenement then swoop in, that last one has a risk of someone else putting a sweet offer ahead and stealing it.
Maybe this is just hope talking but I think that's our best bet.
Maybe this is just hope talking but I think that's our best bet.
Question 1 , the wording of selling the asset whilst delisted , if it has not been sold by now why would anybody want to buy a problem of this magnitude , they don't have a mining licence so who would want it , some say could be years in the court well i'm 65 I don't have years .
Question 2 , how much do you think a shorter would pay for a persons shares and where do you find them .
Thanks in advance
Question 2 , how much do you think a shorter would pay for a persons shares and where do you find them .
Thanks in advance
Cumquat Cap
Regular
Hi Pokok,
Feel your situation mate, shithouse.
Spoke with someone selling their shares today who refused to go lower then last traded. If you make a post on hotcrapper (crawling with shorters) with an email address (maybe make a new one if you want to protect identity) you should get some nibbles. Don’t go too low as they will be far more desperate then us given perpetual timeframe (could be 6 weeks or 2 years)
Feel your situation mate, shithouse.
Spoke with someone selling their shares today who refused to go lower then last traded. If you make a post on hotcrapper (crawling with shorters) with an email address (maybe make a new one if you want to protect identity) you should get some nibbles. Don’t go too low as they will be far more desperate then us given perpetual timeframe (could be 6 weeks or 2 years)
Answer to question 1. Someone who won't have a problem getting the ML because they have something the DRC officials want, or they participate in the snack economy.
As for delisting:
- If we delist while waiting to sort out ownership issues, I can't sell my shares.
- for the last 2 years of suspension while sorting out ownership issues, I couldn't sell my shares.
No difference to me. Either way I'm waiting for a resolution or a sale.
No and I totally agree. I've got a fair investment in AVZ and like all others I'm pretty disappointed in the situation. I'm just trying to think of all angles. If our 20mil loan comes through and we go on fighting the good fight, that's great, but then what happens when that $20mil runs out and we are no closer to success? There has to be an end game, borrowing money to keep the lights on isn't going to work forever.
I know this train of thought will be ridiculed by some but believe me, I want this to succeed for my family and all of yours, I'm just trying to see every angle
Retrobyte
Hates a beer
Players who want the larest strategic battery metals resource on the planet. The Chinese obviously want it, but there will be others who come knocking on the door
Xerof
Biding my Time 1971
I'll take up the challenge Carlos....
Ministerial decree 00031 moved to nullify the relinquishment of the North and reinstate 13359 in its entirety to DATHCOM.
Why was this?
How about because of legal issues relating to unrealised promises and false pretence, as Outcast points out in his timeline, which I recently posted here. Effectively, this unwinds the North entirely, and leaves 13359 reunified and in the rightful name of DATHCOM. Remember, this Decree was initiated by DRC.....
So forget about all this talk of form filling with boxes ticked for relinquishment and so on. irrelevant, see first sentence
Yes, but... then came Ministerial decree 00032 , which revoked DATHCOM's ownership of 13359 in its entirety, for reasons not in the mining code (AVZ aren't being nice to other shareholders, etc)
AVZ assert that this decree is illegal and took it to ISCID
It is this decree that the ISCID case is all about - an illegal strip
#AVZ loves Ministerial Decree #31
Manono Lithium evaporates if we win at ISCID, IMO
obe wan
Regular
after all this time ; your post @Xerof still won’t be absorbed by some.The relinquished part isn't even the same as the northern tenement that Z has illegally gotten, so for any comments that say "ceding the north lead to Z getting the north", that's not even the same concept in the eyes of the law
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Samus
Top 20
That's a nice thought xerof, seems Zijin have (illegally) muscled their way in and made it an expensive proposition for the Congolese to kick them out.
Guaranteed the Chinese exerting pressure on their piss weak corrupt government and handing out snacks behind the scenes as well.
They've also stolen our core library and infrastructure, started work illegally on the Hydro plant and continue their illegal drilling and announcing it all on the stock exchange as if all their claims are legit whilst being backed by cominiere and other unsavoury elements of the government and media.
They should have already evaporated if there was any sign of anybody following things like the law or the mining code.
I wish it were that simple but I don't reckon it will be.
It'd all be very interesting if we weren't the ones caught up in it.
To your point though, my reading of the situation has been the same and I reckon you're exactly right. The tenement split we agreed to under false pretences is null and void along with the decree. Not only that the number of carries mysteriously increased to include all of our assets which was never something anybody agreed to even under duress.
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I've just been through the Quarterly.
Interesting items below, plus the list of disputes and next steps updated in red.
Interesting item 1
From the Quarterly: "Locke has affirmed it remains committed to progressing the facility on terms consistent with the Term Sheet, subject to successful finalisation of diligence, final approvals, and negotiating and agreeing facility documents."
From the delisting announcement: "As previously announced, AVZ is in advanced discussions with Locke Capital I, LLC and its investment manager, Locke Capital Limited (Locke) to secure a general working capital and litigation funding facility of up to US$20,000,000.3 The Company is pleased to report Locke has now completed its due diligence and is working with AVZ to agree the terms of a formal agreement."
So 2 announcements on the same day. One says subject to DD, and the other says DD is complete.
Interesting Item 2
From the Quarterly: "In light of the above, there is a reasonable prospect that a party, including the Company, will be granted a PE in respect of both the Roche Dure and Carriere de l’Este Mineral Resources. If Dathcom is granted a PE in respect of both the Roche Dure and Carriere de l’Este Mineral Resources, further negotiations will then be undertaken with the shareholders of Dathcom in relation to the terms of the mining joint venture."
Looks like there may be discussions as part of negotiations regarding terms of the Dathcom JV as part of a negotiated settlement.
Dispute updates below:
Interesting items below, plus the list of disputes and next steps updated in red.
Interesting item 1
From the Quarterly: "Locke has affirmed it remains committed to progressing the facility on terms consistent with the Term Sheet, subject to successful finalisation of diligence, final approvals, and negotiating and agreeing facility documents."
From the delisting announcement: "As previously announced, AVZ is in advanced discussions with Locke Capital I, LLC and its investment manager, Locke Capital Limited (Locke) to secure a general working capital and litigation funding facility of up to US$20,000,000.3 The Company is pleased to report Locke has now completed its due diligence and is working with AVZ to agree the terms of a formal agreement."
So 2 announcements on the same day. One says subject to DD, and the other says DD is complete.
Interesting Item 2
From the Quarterly: "In light of the above, there is a reasonable prospect that a party, including the Company, will be granted a PE in respect of both the Roche Dure and Carriere de l’Este Mineral Resources. If Dathcom is granted a PE in respect of both the Roche Dure and Carriere de l’Este Mineral Resources, further negotiations will then be undertaken with the shareholders of Dathcom in relation to the terms of the mining joint venture."
Looks like there may be discussions as part of negotiations regarding terms of the Dathcom JV as part of a negotiated settlement.
Dispute updates below:
Frank
Top 20
Election of governors: the Sacred Union takes the lead in almost all provinces
All provincial governors declared elected on April 30 by the Independent National Electoral Commission (CENI) are members of or close to the political platform in power, Sacred Union of the Nation.
Of the nineteen new provincial leaders, twelve are independent, two are members of the UDPS, two from the AB of Sama Lukonde and the other three are from the ARDEV-A of Jacques Kyabula, A24 of Fyfy Masuka as well as than the ANB of Guy Loando.
But all, including the independents, are members or close to the Sacred Union.
The independents are:
Mike Mokeni (Bas-Uele)
Jean Bakomito (Haut-Uele)
Joseph-Moise K’ambulu (Kasaï-Central)
Grace Nkuanga (Kongo-Central)
Daniel Bumba (Kinshasa)
Willy Bitwisila (Kwango)
Iron Van Kalombo (Lomami)
Moise Mussa (Maniema)
Jean Collins Makaka (Mongala)
Michée Mobonga (South Ubangi)
Christian Kitungwa (Tanganyika)
Paulin Lendongolia (Tshopo).
The UDPS only won the provinces of Kasaï with Crispin Mukendi and Kasaï-Oriental with Jean Paul Nbuebua. AB won Haut-Lomani with Marmont Banza and Sankuru with Victor Kitenge.
The province of Tshuapa is led by Armand Yambe of the ANB, Lualaba by Fifi Masuka of the A24 and Haut-Katanga by Jacques Kyabula of the ARDEV-A.
Furthermore, for the province of South Kivu where a second round is to be held, the duel will also pit two members of the Sacred Union platform.
These are Jean-Jacques Purusi from the AFDC-A party and Emile Sumaili from the UNC party.
Political configuration of the Senate
On the other hand, in the senatorial elections, the opposition gleaned a few seats.
Together for the Republic of Moïse Katumbi won three seats out of the 84.
The other 81 return to power through its Sacred Union platform.
The majority of them were divided between the independents, the UDPS, the AB, the AFDC-A, the UNC, the A24 and the MLC.
Twenty-seven seats are won by independents; eleven by the UDPS, AB and AFDC-A each have five seats; the UNC, A24 and MLC have four each.
The other political groups have less than 3 senators each.
Elections for governors and senators were not organized in the provinces of Kwilu, Equateur, Mai-Ndombe, Ituri and North Kivu, following various reasons presented by the CENI. These reasons are essentially security, administrative and legal.
Citizens of these provinces will therefore have to wait before knowing their governors and vice-governors, as well as their representatives in the Upper House of Parliament.
mediacongo
All provincial governors declared elected on April 30 by the Independent National Electoral Commission (CENI) are members of or close to the political platform in power, Sacred Union of the Nation.
Of the nineteen new provincial leaders, twelve are independent, two are members of the UDPS, two from the AB of Sama Lukonde and the other three are from the ARDEV-A of Jacques Kyabula, A24 of Fyfy Masuka as well as than the ANB of Guy Loando.
But all, including the independents, are members or close to the Sacred Union.
The independents are:
Mike Mokeni (Bas-Uele)
Jean Bakomito (Haut-Uele)
Joseph-Moise K’ambulu (Kasaï-Central)
Grace Nkuanga (Kongo-Central)
Daniel Bumba (Kinshasa)
Willy Bitwisila (Kwango)
Iron Van Kalombo (Lomami)
Moise Mussa (Maniema)
Jean Collins Makaka (Mongala)
Michée Mobonga (South Ubangi)
Christian Kitungwa (Tanganyika)
Paulin Lendongolia (Tshopo).
The UDPS only won the provinces of Kasaï with Crispin Mukendi and Kasaï-Oriental with Jean Paul Nbuebua. AB won Haut-Lomani with Marmont Banza and Sankuru with Victor Kitenge.
The province of Tshuapa is led by Armand Yambe of the ANB, Lualaba by Fifi Masuka of the A24 and Haut-Katanga by Jacques Kyabula of the ARDEV-A.
Furthermore, for the province of South Kivu where a second round is to be held, the duel will also pit two members of the Sacred Union platform.
These are Jean-Jacques Purusi from the AFDC-A party and Emile Sumaili from the UNC party.
Political configuration of the Senate
On the other hand, in the senatorial elections, the opposition gleaned a few seats.
Together for the Republic of Moïse Katumbi won three seats out of the 84.
The other 81 return to power through its Sacred Union platform.
The majority of them were divided between the independents, the UDPS, the AB, the AFDC-A, the UNC, the A24 and the MLC.
Twenty-seven seats are won by independents; eleven by the UDPS, AB and AFDC-A each have five seats; the UNC, A24 and MLC have four each.
The other political groups have less than 3 senators each.
Elections for governors and senators were not organized in the provinces of Kwilu, Equateur, Mai-Ndombe, Ituri and North Kivu, following various reasons presented by the CENI. These reasons are essentially security, administrative and legal.
Citizens of these provinces will therefore have to wait before knowing their governors and vice-governors, as well as their representatives in the Upper House of Parliament.
mediacongo
Well, pretty much the vast majority of the investment community in Australia think AVZ is dead in the water now. Board need to actually demonstrate that their strategy is viable and will prevail. Should be explained in a release to the media. Once we’re delisted, we won’t be restricted by the compliance of the ASX. So I hope AVZ speak openly to their shareholders and the investment community, because morale is at an all time low for those who do not frequent these forums.
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