Mute22
Regular
Maybe it was a bad time for me to do 'Dry July'... Funny, I was feeling just fine the other 24+ months?
AVZ Discussion 2022
- Thread starter GazDix
- Start date
Carlos Danger
Top 20
You think our enemies don’t know the arbitration dates?This thread has become absolute crud. Rather than decent discussion, its just pissed off punters who had a crack at making multiples and are stuck and salty.
I’m one of them, with several hundred k thrown in around 40-50c.
I took a gamble in a well known shithole with a resource that was always in retrospect going to be targeted by less governed entities. My fault, I blame nobody else for where that money sits.
But I for one am enjoying the silence right now, to me itmeans progress. Nigel has my full support, as any alternative is goodnight in my view.
Or is it more likely that the suppression of the timeline is about quelling discontent amongst shareholders because it’s gonna take years until we get a decision before we then need to go try and enforce it
We are the owners of this company and deserve to know the key dates for the ICSID. And once again for the record I only have 15k invested in this mess because it’s a project in the DRC involving China.
Come on mate. It has nothing to do with arbitration dates. It has everything to do with ANY progress in negotiations and who will get that info.
I still prefer silence.
Carlos Danger
Top 20
Remember when AVZ management were frozen out of negotiations by the DRC government and we had to initiate the ICSID process. I did a post this time last year explaining how it was our only option under the mining code. Anyone who hasn’t realised by now that we’re going the distance unless we concede that we relinquished the north is completely delulu imo
Frank
Top 20
The governor of the Central Bank brought to justice for “embezzlement of funds in complicity with Nicolas Kazadi”
In a complaint filed, Monday July 22, 2024, with the Attorney General at the Court of Cassation and consulted by Actu30.cd, the Anti-Corruption Association, through its law firm, requests legal proceedings against the governor of the Central Bank of Congo (BCC) for “embezzlement of more than 27 million US dollars in complicity with the former Minister of Finance, Nicolas Kazadi”.
“In the name and on behalf of my client, the Anti-Corruption Association (ALCC), I hereby file a complaint against the better identified person for embezzlement of more than $27,000,000 in the public treasury account.
Indeed, then governor of the Central Bank, Mrs. Kabedi Malangu, in complicity with the former Minister of Finance, Nicolas Kazadi, will be distinguished by reprehensible acts and to the detriment of the Republic, release in emergency procedure a trifle sum of $398,982,383 for an alleged installation of 1000 boreholes against 10% in return negotiated between her and Kazadi,” notes this correspondence signed by Master Richard Mbenza Kolo.
This anti-corruption structure says it has proof of several conversations between the former minister and the current governor of the BCC on this issue.
“The audios obtained by us and verified with a telephone network reveal several conversations dating from 12/27/2022, 01/04/2023 and 01/14/2023 between Ms. Kabedi Malangu and Mr. Nicolas Kazadi.
Regarding the first audio dating from December 27, 2022, Mr. Nicolas Kazadi instructs Ms. Kabedi Malangu to do everything in her power to release via an unknown account, but lodged at the Rawbank, a sum of $147,320,230 against her 10 %. “, we read in this complaint.
And to continue: “In another audio dating from January 4, 2023 and verified with a telephone company, we can hear a lively discussion between Mrs. Kabedi Malangu and Nicolas Kazadi on an increase in her percentages on the understanding that she provides a lot of efforts to make these enormous sums available without his two vice-governors being exposed and, above all, to avoid collusion with the Presidency of the Republic.
In response,
Nicolas Kazadi instructs him to still release in an emergency procedure a sum of $87,400,000 against this time an increase of 12%.
This association requests the opening, "as a matter of urgency, of criminal action against the current governor of the Central Bank who has engaged in the same practices which not only weaken economic growth, but also and above all cause enormous damage to the Republic which today finds itself in a situation of galloping inflation following these retrograde practices.
mediacongo
Drilling, street lamps, financial center and other files: “It is time that those responsible for these thefts are prosecuted, judged and condemned”
Opponent Moïse Katumbi steps up to the plate, this Tuesday, July 23, 2024, to denounce the repeated misappropriation of public funds in the DRC (Democratic Republic of Congo), particularly on drilling and street lamp projects, as well as the Francophonie games and the center financial.
The president of the Ensemble pour la République party wants to see those responsible for these thefts prosecuted, tried and convicted.
Because, according to him, these aforementioned projects were overcharged beyond belief.
“It is time that those responsible for these thefts are prosecuted, tried and convicted.
The embezzled money must be returned to the treasury and impunity must end,” he tweeted.
For the opponent, confronting the perpetrators of the embezzlement is a crucial question of dignity for all Congolese, social justice and the responsibility of leaders.
“While soldiers starving and abandoned for five days risk the firing squad simply for seeking food, we learn that hundreds of millions of dollars have been embezzled via rigged public contracts,” he said indignantly. .
Note, moreover, that some are awaiting the public trials of these various cases, which have visibly drained the state coffers.
mediacongo
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"Anyone who hasn’t realised by now that we’re going the distance unless we concede that we relinquished the north is completely delulu imo."
Mate if it were that simple then why doesn't Nigel just let go of the North ? It doesn't make any sense to sacrifice Roche Dure and in the process f--k over every share holder .
An unpopular opinion but get the boundaries back to the first split and let’s get on with our lives. Both halves have more than enough spod for our life times.
Alternative is dig our heals in, it gets dragged out for years and possibly get zero return.
Is it fair? Fuck no but end of the day this the DRC, the Wild West if you will and this is not Zijins first rodeo. They know exactly what they doing and they don’t care who they crush to get what they want.
I might sound defeatist to some but I think I’m being a realist.
Cumquat Cap
Regular
Agreed, ensure we get 75 of the original Roche Dure, our camp and share of the hydro which is still nearly 600mt of spod. Straight to ML and sell as soon as humanly possible. Hopefully net 5b USD and move on. What a nightmare but DRC is hell on earth
Doc,
Absolutely not. I don't want the Chinese anywhere near Dathcom and they need to be pushed out well away from us.
If they are next door due to a split it will be diabolical, and they will continue to frustrate the good work that Dathcom does.
Dathcom have done the work and spent the money. I don't see the need to give up one inch of the original tenement.
I cannot afford for Dathcom/AVZ to fall over, however I am not going to move on this.
As one wise man once said "Drill baby Drill"
I am definitely not happy about waiting for outcomes, but I will.
SilentOne.
dollarbills
Regular
Realistically who but the Chinese would buy this from AVZ at this stage now if it were to go to sale? If not Zijin it will most likely be another Chinese firm..
AVZ going to mining alone is a pipe dream right now. A negotiated sale is our only way out of this mess right now if we don't go the full ICSID route..
As much as they have ass fucked us i bet most people would be happy to accept a $1 share price even if it came from Zijin..
Samus
Top 20
I reckon you're about right, who else is going to want it after what we've witnessed anyway?
Zijin/CATL scumbag alliance needs to buy it in return for making all the legal problems go away.
Can we squeeze a couple of billion USD out of those cockroaches? who knows.
Maybe with pressure from the DRC government who'll be footing the damages bill over the next decade if things continue as they are.
That's the way I see it anyway, this fucking MoU bullshit doesn't excite me at all.
Mute22
Regular
The MoU is a red herring, any words are a waste of time.
We have supposably binding words known as the DRC mining code and statutory laws which should mean something to us, but apparently don't apply because we didn't 'donate' $70m USD to the right people.
The only thing that matters is real actions in the real world of which we have seen nothing.
Dollarbills,
The Chinese from what I have seen have a tendency to settle before any major ruling occurs - they don't like adverse findings recorded against them.
The Chinese withdrew their tarrifs against Australia slowly on the premise that Australia would suspend/cancel their complaint with the WTO. Personally, I would have pursued it for a ruling.
I would be surprised if this goes the full hog with the ICSID and if it does then there's a very flash looking Bank Vault in New York that apparently holds bullion on behalf on the DRC.
SilentOne - do you own research
TheCount
Regular
The president of the country has said they only deal with Chinese and Russians, so we have to rely on ICC and ICSID for what we call justice.
The president is the problem - always has and always will be. He promotes corruption, even fosters it.
Not one single attack on anyone related to the DRC side has stuck. We've got Government officials pissing off to France for "emergency medical treatment" and never checking in to the hospital! Cominiere is laughing all the way to the bank as he buddies up to his Chinese mates. The newly elected officials have not started looking at the problem caused by their predecessors, and we have no confidence they ever will! $30M and then $70M goes missing and no one is looking for it? World Bank pats them on the head, says to "try harder" to which platitudes are offered and they go back to their corrupt ways..
The level of proof of corruption is irrefutable and yet it continues to flourish. How can the Country ignore its own laws? Easy, it just does..
This is way beyond a joke now and the DRC needs to be taught a lesson.....
Samus
Top 20
I don't disagree with this, but as a shareholder with my capital tied up I'd rather extract some money out of this and move on than be the righteous one to teach these scumbags a lesson over the next however many years.
If it goes the route of full ICSID then fine and I'm sure we will eventually extract some value but trying to squeeze blood out of a stone for the next decade isn't going to be fun.
Yes look at our MoU for the hydro plant which is now well and truly gone. Not worth the paper it's written on.
Going to need well over ATH (DRC tax ) if every shareholder is to at least break even . Not sure if that poses a problem for Nigel ?
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Images of Piana–Mwanga Hydroelectric Power Station.
2018
6 Weeks ago
The image below is a composite of 2018 and 2024. This is because the photos are updated periodically as the satellites pass over. So you end up with strips of land that have current photos, stitched to adjacent older photos.
Pretty clear there have been considerable earthworks upstream of the power station.
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