AVZ Discussion 2022
- Thread starter GazDix
- Start date
CashKing
Regular
…. Z squashed imo…DYOR PLEASE
Last edited:
Sounds positive...as long as you aren't Nigel and your next week means two months, I'm looking forward to next week then.It’s a bit like when NF says it’s imminentisn’t it….
I’d expect the BFS out and the 15% problem SQUASHED
Totally up to AVZ how they play it however..
Also can’t help fight the trolls on HC as I’m suspended like AVZ, hope to make a comeback soon and blow them out of the water….
AIMO GLTAH
I've always been confident we'd be ok out of this situation however as time goes on, you do get a little nervous.
Yeah I meant ML could be finally done!
Mr Inappropriate
Regular
Thanks CS. It’s nice to think that this mess might be closed out sooner rather than later.It’s a bit like when NF says it’s imminent
I’d expect the BFS out and the 15% problem SQUASHED
Totally up to AVZ how they play it however..
Also can’t help fight the trolls on HC as I’m suspended like AVZ, hope to make a comeback soon and blow them out of the water….
AIMO GLTAH
The thought of the shorters having to buy back millions (250m?) of shares in the context of the ML being granted, ownership sorted, and the BFS in the pocket, would really make for some interesting trading days.
Samus
Top 20
Like i said before, we all knew that DRC had sovereign risk, but the systematic corruption in the Kabila era is just mind blowing to the extreme.!!*Fyi, the Chinese & Kabila still leave a very sour / bitter taste in the mouth of the DRC President ( Felix ) atm, as
The IGF, its explosive report on the management of Gécamines 04.06.2022
It is a real time bomb that constitutes the Synthesis of the Control Report of the General Inspectorate of Finance (IGF) on the management of the General of careers and mines (Gécamines), the largest mining company and pillar of the country's economy since independence.
Dated May 31, 2022, this 9-page document of which Afriwave Com obtained a copy; traces a series of unforgivable irregularities that led to the loss of several hundred million US dollars to the detriment of the country.
Long and very long headed by Albert Yuma Mulimbi first as Managing Director (DG) then Chairman of the Board of Directors (PCA) under Joseph Kabila, of whom he remains a close friend, the management of Gécamines has still not been as "orthodox" as it was claimed.
The extensive management audit launched over the 2010-2020 period has deliberately proven this.
Started in September 2021 when the President of the Republic Félix Tshisekedi, a few months earlier announced his desire to renegotiate the mining contracts signed during the two terms of his predecessor, Joseph Kabila; no surprise could be expected.
Which, means that the current Head of State would like a more comprehensive review of the entire mining sector to be carried out.
In addition to the decried lack of generalized control, the summary of the Control Report of the General Inspectorate of Finance on the management of Gécamines targets in particular the conditions of sale or transfer of the mining assets of Gécamines for the benefit of private actors and, above all, the financial performance of a company regularly accused by NGOs of “selling off Congolese minerals”.
Some key figures
The turnover achieved by the partners of Gécamines between 2012-2020 amounts to 35 billion US dollars, Gécamines received only 564 million US dollars in terms of royalties.
Of the advances from Gécamines to the State in the order of US$591 million, US$413 million are untraceable.
*Of the $175 million in doorsteps from the Chinese contract, the full $175 million remains untraceable.
Of a total revenue of 1.9 billion dollars, only 57 million dollars were used for the production tool of Gécamines.
While the legal debt was $44 million in 2020, Gécamines paid between 2016 and 2020, $97 million for lawyers' fees.
Gécamines sold its houses with 1 bedroom + living room at 500 dollars, 2 bedrooms + living room at 750 dollars, 3 bedrooms at 1000 dollars and 4 bedrooms at 1500$. In addition 20% commission was paid to a real estate agency.
In 1996, Gécamines held 45% of shares in TFM (the largest copper mine), they were reduced to 17.5% in 2005.
In 2000 Gécamines had reserves of 35.3 million tons of copper and 3 million tons of cobalt. In 2021 it only has available reserves of 9.3 million copper and 1.4 million cobalt.
First on board, we realize how much the country and its large and small businesses have been bled dry by the predatory regimes of the Alliance of Democratic Forces for the Liberation of Congo (AFDL) and its heirs to the People's Party for Reconstruction and Democracy (PPRD) under Kabila Laurent-Désiré and Joseph.
Because even if under Mobutu, things had not gone so far, under Kabila; corruption and embezzlement of public funds have reached their peak.
A second lesson, this explosive document makes it possible to understand how certain political leaders of the time behaved like mercenaries by looting the country for their personal benefit and that of their families.
What remains, explains the rearguard fight that they are trying to lead today to escape all the sanctions, including the legal proceedings that are imposed on them.
A credible source contacted by afriwave.comconfirms that “the IGF investigations will continue until the end and that all those who are involved from far or near will be held accountable to justice”.
www.mediacongo.net
Clearly, Kabila and corrupt associates have sold out their own people for their exclusive gain, so i hope very much that Felix holds those bastards to account and prosecutes them to the FULL extent of the LAW. !
One would also like to assume that Felix is very much aware of China and its true motives in the country , and holds the various coy to account for their corrupt activities in the past and make them pay restitution for the loss of income and / or, boot them out of the country.
Its probably just a dream , but this article riles me big time, much the same way as Meghan Markle greased her way up the corporate ladder, or should i say, greased her way into the royal heirachy then cried foul she was bullied and harrassed, when indeed, it was the other way around.........
Dont get me started on Putin , Xi, rocket man or Amber Heard for that matter either.....
I wonder what ROBIN HOOD would do in those situations........
imo
Did i miss something ?
Samus
Top 20
I looked for his posts but couldnt find any, is he gone already ?
lol
Samus
Top 20
Just a sad ass lurker going around liking any posts that can be perceived as negative.
Liked my post: https://thestockexchange.com.au/threads/avz-discussion-2022.78/post-79560
Last edited:
Just a sad ass lurker going around liking any posts that can be perceived as negative.
Bin59
Regular
Not sure if this was posted previously, but can anyone provide a copy of the minutes from this meeting please. TIA
#DRC 03.06.2022|#CitéUA
The Head of State, Félix-Antoine Tshisekedi Tshilombo, chaired the 56th Meeting of the Council of Ministers by videoconference.
The report will be made in the late afternoon by the government spokesman.
#DRC 03.06.2022|#CitéUA
The Head of State, Félix-Antoine Tshisekedi Tshilombo, chaired the 56th Meeting of the Council of Ministers by videoconference.
The report will be made in the late afternoon by the government spokesman.
Samus
Top 20
The summary is usually available earlier from:
Can be translated: Auto translate French subtitles to English.
I watched it yesterday, unfortunately nothing directly related to us again. Not to say something might not be indirectly related, the dodgy auto translation only gives you a basic understanding of what is being said.
Minutes are here when they become available: https://www.primature.cd/public/document-category/comptes-rendus/
Similar threads
