AVZ Discussion 2022

[John25]

 

[Rediah]

 

[John25]

Another month of this BS

 

[Samus]

View attachment 8248

Patience sufferance

 

[BRICK]

Im assuming that a totally silent approach is to avoid ANY speculation?

 

[Winenut]

Well since it's going to get really boring here for the next month or two I hope all the blowins and less than genuine posters stay away (as they seem to have so far this morning) and we can settle back into a reasonable discussion, with some informed LTH's based on the facts as we know them thus far

I expected the extension this morning and predicted the announcement would not shed any more light on the matters

Suspension for 1 month and TIA extended for 2 indicates to me that the matters are far from resolved

Nevertheless there seems to be commitment from CATH to hang in there during the process

Probably no surprise there though.....why wouldn't you want to hang in there fo 24% of the project for $240M?

We shall await further official announcements

I think we might be up for at least another month of silence and then possibly some updates after that (if some matters are resolved) leading up to the TIA extension date

Good luck to the true believers

 

[BEISHA]

I guess its just my deep seated hatred towards selling out a country that got me making that comment, but with all due respect i wouldnt expect to migrate to another country and become a politician.......anyway apart from the aboriginals we are all immigrants or sons and daughters of immigrants. I've got scottish, german and english blood, so yeah pretty sure my family tree helped rape and pillage a few countries in the day, nothn to be proud of, but at least I've got William Wallace showing some balls

I have a deep hatred for any politician selling off our assets too, when will we ever learn ?

That said, I voted for Labor and its POLICIES ( climate change mainly), not the PERSON and one of their promises was to rectify their relationship with the PACIFIC ISLAND family...............so far they have kept to their word and clearly, PENNY WONG has done an outstanding job thus far.



KUDOS to her and a BIG FU to China Govt !!!

I am looking forward to MORE humiliation for them when AVZ , via FORMAL ASX announcements, state they have rightful control of MANONO !....................

imo

 

[TheCount]

See you all in a month. EOFY approaches and The Count needs to do some counting!!

TC.

 

[CashKing]

Im assuming that a totally silent approach is to avoid ANY speculation?

I wish all the trolls would be totally silent

 

[BEISHA]

When deciding who to trust when there are conflicting claims from two parties, first consider who has more to lose (i.e. legal consequences) from making a false statement: (i) a managing director making official company statements on official public stock exchange portals with easily traceable details, or (ii) untraceable anonymous social media and forum profile account holders that can be easily abandoned/deleted/removed from public view? Obviously the managing director has more accountability and will actually make sure that all company statements are true and legally-backed rather than anonymous internet profiles. The managing director has a major financial incentive to make sure that things are done correctly, whereas anonymous internet profiles with malicious agendas just want you to make the wrong financial decisions so that they take your profits away. For example, if you make the wrong financial decision based on the Boatman report, how can you even sue/get financial compensation if you cannot even find the person who wrote it? Whereas AVZ paid nearly $90,000 in liability insurance in 2021 to cover the company/personnel (2021 Annual Report).


When Li Tao@lithiumanalytic claimed to be showing a copy of the Dathcom shareholders agreement, the cover page (first page) showed an RCCM registration number of CD/KIN/RCCM/16-8-12284. Dathcom's real RCCM registration number is CD/LSH/RCCM/19-B-00935. This RCCM number is publicly available on the RCCM portal and is also quoted in CATH's announcement on 27/09/2021 https://stock.us/filing/view/cn/venm9k8v.
Summary: If the first page of a series of document is incorrect, it is difficult to believe that the rest of the documents are true. Don't simply believe anything you see/read from anonymous internet profiles.


Size of company does not make one immune to local country laws. Glencore (market cap US$88 billion) was recently fined US$1.1 billion for corruption https://www.justice.gov/opa/pr/glen...reign-bribery-and-market-manipulation-schemes. Zijin has a market cap of US$38 billion. The Chinese are not immune in the DRC. China Molybdenum (market cap US$14 billion) was removed as a mine operator a few months ago due to a number of unlawful acts https://www.nytimes.com/2022/02/28/world/congo-cobalt-mining-china.html.
Summary: When Jin Cheng/Zijin gets charged for unlawful acts in the DRC, punishment will follow.


Two months after the alleged sale between Cominiere and Jin Cheng/Zijin occurred in July 2021, CATH announced to its shareholders the deal with AVZ to purchase 24% of the Manono project on 27/09/2021. Within the document https://stock.us/filing/view/cn/venm9k8v (use "Print view" to view whole document), it stated (translated with Google Translate):"After the transaction is completed, AVZ will hold a 51% controlling interest in the Manono project, And to maintain its position as the main developer of the Manono project, Tianhua Times will hold a 24% interest in the Manono project."
And, under basic information about Dathcom:
"Major shareholders: AVZ International Pty Ltd holds 75% and La Congolaise D’Exploitation Miniere (Congo DRC government) holds 25%Dathcom had total assets of $38.4 million and net worth of $37.6 million as of June 30, 2021million (financial data provided by Dathcom Corporation)."
Summary: Even CATH did not acknowledge the presence of Zijin/Jin Cheng in Dathcom and did not recognise the alleged sale of 15% from Cominiere to Zijin/Jin Cheng. Even Zijin themselves did not recognise this purchase as on 3rd August 2021 Zijin announced that "To date, the Company has no lithium mineral resources or related business." https://hotcrapper.com.au/posts/61512656/single
Also, Cominiere used the excuse of an "urgent" need to raise cash in July 2021 to justify its sale of 15% of Manono to Zijin - even though its 25% shareholding of Dathcom equated to more than $9 million in assets as of 30 June 2021, just weeks prior to the sale. Flimsy excuse.


A recent allaged Cominiere meeting "classifying" the 5% that they gave to Dathomir as a "security loan" that should never have been on-sold by Dathomir to AVZ in 2019. Well guess what; an Extraordinary General Meeting of Dathcom was convened in 2019 to approve the sale. Cominiere was there as part of Dathcom, well aware of it, and approved the legal sale. This is Dathomir/Cominiere now wanting to retrospectively fudge past events to gain an unlawful advantage. AVZ purchased this share parcel legally.


AVZ is still in discussion with the DRC government for Cominiere's 15% interest in Dathcom (ASX announcement 4 May 2022). If the DRC government actually recognises the sale of 15% from Cominiere to Zijin/Jin Cheng, then the DRC won't have anything to "sell" to AVZ so why would they even still have discussions? This is because the DRC government does not formally recognise the sale of 15% to Zijin/Jin Cheng. And when the DRC wants to sell this 15% parcel to AVZ, they (the DRC, not AVZ) will be the one that takes it back from Zijin/Jin Cheng. So if Zijin/Jin Cheng wants any compensation, they will need to approach the DRC, not AVZ. They have no claim to make on AVZ. Same thing happened in AVZ's past: MMCS sued AVZ twice (in WA and in DRC) and both attempts were thrown out by the courts, so MMCS is now suing Cominiere (i.e. the entity that took away the asset from MMCS). AVZ is not the entity that will take away the 15% from Zijin/Jin Cheng, as it will be the DRC taking it away before on-selling it to AVZ.


AVZ was the only miner invited to join the DRC Battery Council in Nov 2021. No Zijin/Jin Cheng. Also, AVZ presented at the DRC-Africa Business Forum 2021 (ASX announcement 24 November 2021) and the presentation slide clearly displayed the ownership structure as 75% by AVZ and 25% by DRC government. This was presented in the forum in front of a global audience. And yet, no direct/public rebuttal from Zijin for nearly 6 months until just this month after the mining licence award was decreed and after Zijin quietly inserted a footnote in page 251 of their 2021 annual report (published in March 2022) about their alleged purchase from Cominiere.

My opinion: AVZ's position is much more secure than Zijin/Jin Cheng in this saga. Don't be fooled by the mud-slinging from the shorters and anonymous profiles with various agendas. Read official company announcements and think before deciding.

DYOR IMO

I mentioned in previous posts that the intel on this thread is far better than what you will find anywhere else , your post and @Mining8........... go to the TOP OF THE CLASS champs !

Thanks for sharing, it will make another month of silence alot more bearable..............at least for me anyway!

imo

 

[Rediah]

I wish all the trolls would be totally silent

we shouldn't worry about trollers, i take them as the supporters of opposition team when I play field sport, them shouting and making any noise wont affect my performance, what annoys me lack of clarity from AVZ which I understand, as they dont want to give everything out when its being dealt with behind the closed doors. I am sure they wont be sitting with their hands in their laps and waiting for next suspension date to expire just to extend it further. So, unfortunately, like it or not, we cant do much but have to wait and show patience.

 

[Samus]

Tanganyika/Lithium exploitation in Manono: Civil society organizations decry “conflicts of interest” after Dathcom SAS feasibility study​

MAY 31, 2022


Lubumbashi, May 31, 2022- Several civil society organizations say they are concerned about the current situation in the exploitation of lithium in the territory of Manono and the conflicts of interest that have arisen there.
Gathered this Tuesday, May 31 at a press conference, these organizations and platforms of civil society in the DRC of all tendencies, declare that they have observed a mark of "agitation" since the presentation to the Congolese government of the feasibility study report by mining company Dathcom Mining SAS.

The latter reveal that the said study was carried out with the support of the management of the Australian company AVZ Minerals, which had obtained favorable technical opinions from the Ministry of Mines, with a view to the transformation of its research permit (PR ) Number 13359 in exploitation permit (PE) for the industrial exploitation of lithium discovered in this part of the province of Tanganyika.
These civil society organizations reveal all the same that this study had at the time obtained a favorable opinion from the national minister of mines Antoinette N'Samba, who remain the supervisory authority and affirm that to date, only the Dathcom company would have carried out geological studies with the support of engineers from Cominière, the public company of the State and partner of the joint venture.
Having noted the conflicts of interest and the peddling of influence on the part of certain members of the presidency and officials of the Cominiere against the company Dathcom, the organizations of civil society seek the involvement of the President of the Republic , in order to preserve the mining interests of the population.
In addition, these civil society organizations call on the Congolese government to take into account the latest report of the Inspector General of Finance (IGF) made public in March 2022 on the shareholding and agitations for the control of DATHCOM MINING SAS by different new interested parties including the Chinese company ZIJIN, which has recovered 15% of Cominière's shares in the joint venture which, according to civil society, remains in violation of the laws of the Republic.
Junior KANYIKI

Tanganyika/Exploitation de lithium à Manono : Les organisations de la société civile décrient " les conflits d'intérêts" après l'étude de faisabilité de Dathcom SAS - Enquete.cd

Spread the loveLubumbashi, 31 Mai 2022- Plusieurs organisations de la société civile, disent être préoccupées par la situation actuelle que prévaut dans l’exploitation de lithium dans le territoire de Manono et les conflits d’intérêts qui s’y sont invités. Réunis ce mardi 31 Mai en conférence de...

enquete.cd

 

[John25]

Looks like Dry July is done & duster for another 12months

 

[John25]

Lit stocks are getting smashed …& we’re not trading

 

[John25]

Geez …a new day 1 ..its gonna be epic ..GLA ..have work to do

 

[Sterling]

A bit Disappointed we didn't even get a snippet of something from AVZ's Management. But did anyone see BYD is sniffing around Africa for Lithium mines?

MEDIA-China's BYD in talks to buy six lithium mines in Africa​

MEDIA-China's BYD in talks to buy six lithium mines in Africa - The Paper

-- Chinese electric vehicle maker BYD Co Ltd is in talks to buy six lithium mines in Africa with total resources of lithium oxide at 2.5% grade estimated at more than 25 million tonnes, Shanghai government-backed media The Paper reported on Tuesday, citing sources.

www.reuters.com

Could that be something to add into the mix of everything thats happening atm. ?

I like the end part lol on that article ...
"Note: Reuters has not verified this story and does not vouch for its accuracy"

Euchreman

 

[CHB]

Interesting that this civil society has called for action from drc gov.

Can someone tell them to join the club? AVZ shareholders been saying the same thing for months now

 

[Retrobyte]

A bit Disappointed we didn't even get a snippet of something from AVZ's Management. But did anyone see BYD is sniffing around Africa for Lithium mines?

MEDIA-China's BYD in talks to buy six lithium mines in Africa​

MEDIA-China's BYD in talks to buy six lithium mines in Africa - The Paper

-- Chinese electric vehicle maker BYD Co Ltd is in talks to buy six lithium mines in Africa with total resources of lithium oxide at 2.5% grade estimated at more than 25 million tonnes, Shanghai government-backed media The Paper reported on Tuesday, citing sources.

www.reuters.com

Could that be something to add into the mix of everything thats happening atm. ?

I like the end part lol on that article ...
"Note: Reuters has not verified this story and does not vouch for its accuracy"

Euchreman

Can't be us - the article refers to only 25m tonnes

 

[Retrobyte]

Might be worth bookmarking this page to see if any interesting snippets pop up from the local reporters at DRC Mining Week .... https://en.interkinois.cd/drc-mining-week/

 

[CHB]

Anyone know if we will be at the mining week?

Would be a bit sad if we weren't..