AVZ Discussion 2022
- Thread starter GazDix
- Start date
Schnitzelfresser
Regular
Not sure I am gonna be happy about a closure of Locke funding or not. Only results in the long long long game.
IMO we need the Locke funding not just to fund our arbitration activities, but to show proof that our opponents plan to bleed us into bankruptcy is not viable. For now it seems DRC is ignoring our efforts to negotiate, no doubt with our enemy whispering into their ears that we are a done concern and no real threat. Having our litigation funded however would provide us with a bit more sting in our tail and boost the pressure on those entities to sit down with us and figure something out.
Cumquat Cap
Regular
Agreed Roon, they are hoping we go into VA and Locke funding will show that’s at least 3 years from happening. Stifling any purported good work they are doing in improving the business climate.
Not once has a DRC govt official mentioned avz in public, they are scum and orchestrated this for years post DFS with Felix being the lead and most likely largest benefactor of Chinese bribes. Terrible business climate, we’re gonna have to teach them a lesson. Trump will be a lot harsher than Biden has been which may work in our favour.
Not once has a DRC govt official mentioned avz in public, they are scum and orchestrated this for years post DFS with Felix being the lead and most likely largest benefactor of Chinese bribes. Terrible business climate, we’re gonna have to teach them a lesson. Trump will be a lot harsher than Biden has been which may work in our favour.
What's Locke's cut ? No mention in the SRR announcement .
I’m sure nothing for nothing. They will do very well out of the deal. Something for the shareholders is better than nothing at the end of the day.
Carlos Danger
Top 20
'The Funder’s return is directly tied to the successful award and settlement of the Claim, with the total amount payable being a function of time and total Proceeds receipted. The priorities for distribution of receipted Proceeds are set out in the LFA and where commercially and legally sensitive, shall remain confidential.'
Sarama 'will seek full compensation for the loss suffered which may include, but will not be limited to, the value of the Permit, the value of the Company’s historic investments in the Project, the value of the Project at the time the Permit was withdrawn and damages the Company has suffered as a direct result of the Government’s actions'
Meanwhile AVZ's 'main purpose of the ICSID Arbitration Request is to seek various remedies for the failure of the DRC and its administrative departments, to comply with obligations under the DRC Mining Code, in particular in the implementation of the various measures that should have led to the issuance of an Operating Permit to Dathcom resulting from the Research Permit "PR 13359", for the development of the Manono
Project'
After the decision on interim measures at the ICSID 'the tribunal has asked that Dathcom expressly confirm that should the DRC comply with these interim orders, AVZI, GLH and Dathcom will request the release of the PE and if the DRC releases it, they will progress the development of the project immediately. The Company will take the necessary steps to procure that AVZI, GLH and Dathcom provide that confirmation.'
How does Locke get paid back if the DRC government agree to grant us the licence during negotiations?
Carlos Danger
Top 20
We had 18.9m AUD in da bank as at June 30 2023 and 11.7m AUD as at September 30th 2023 while the MoU negotiations were occurring after the registration of the ICSID claim
And that went nowhere
Maybe the Locke funding will get the DRC government back to the negotiation table. Or perhaps the DRC won't play ball regardless unless we agree that under the mining code submitting the waiver means that Dathcom no longer legally holds the north imo
Could also ask , how do we negotiate with strength without funding? What would make the DRC come to the table ? Only way I can think of is if the Yanks are playing a part .
Are we still in the Term Sheet phase of negotiations with Locke ? If so is there not a $1mill break free payable by AVZ ? Locke sitting pretty .
Today's Global Arbitration Reviews (GAR):
globalarbitrationreview.com
A Finnish court has ordered the freezing of Russian state assets following a request from Ukraine’s state-owned gas producer and distributor Naftogaz as it seeks enforcement of a $US5 billion Hague tribunal compensation award. The compensation follows Russian expropriation of their oil and gas properties in Crimea after Moscow annexed the peninsula in 2014.
Naftogaz said that the assets include “real estate and other assets valued at tens of millions of dollars”. Properties frozen include the Russian Science and Culture Centre in Helsinki and a plot of land of about 3300 square metres, both of which were impounded last year.
Take note Emperor-for-life King Felix-the-corrupt: Five billion US dollars is a big number, but its nothing compared to what you grubs are facing.
Cheers
F
Naftogaz freezes Russian assets in Finland
Ukraine’s Naftogaz says a Finnish court has granted its request to freeze Russian state-owned assets worth tens of millions of dollars in aid of its bid to enforce a US$5 billion investment treaty award.
globalarbitrationreview.com
A Finnish court has ordered the freezing of Russian state assets following a request from Ukraine’s state-owned gas producer and distributor Naftogaz as it seeks enforcement of a $US5 billion Hague tribunal compensation award. The compensation follows Russian expropriation of their oil and gas properties in Crimea after Moscow annexed the peninsula in 2014.
Naftogaz said that the assets include “real estate and other assets valued at tens of millions of dollars”. Properties frozen include the Russian Science and Culture Centre in Helsinki and a plot of land of about 3300 square metres, both of which were impounded last year.
Take note Emperor-for-life King Felix-the-corrupt: Five billion US dollars is a big number, but its nothing compared to what you grubs are facing.
Cheers
F
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Winenut
GO AVZ!!!!
If we get granted the licence then you could go mining and eventually pay back Locke?
Long timeframe given....
Or you get the licence and maybe someone is willing to effectively buy that from you because they know it's a very valuable resource and you repay Locke
Shorter timeframe possibly
Am I being my usual simple self?....
Winenut
GO AVZ!!!!
Sorry I'm assuming that..
'The Funder’s return is directly tied to the successful award and settlement of the Claim, with the total amount payable being a function of time and total Proceeds receipted. The priorities for distribution of receipted Proceeds are set out in the LFA and where commercially and legally sensitive, shall remain confidential.'
In the event that there is no case then Locke will be paid something by another mechanism or clause in the contract based on time spent, monies forwarded etc etc
But like I said that is only an assumption and my best guess as to how a litigation funding contract might pan out given all the different possible outcomes and permutations
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Carlos Danger
Top 20
Yeah that was the point I was trying to make although it could be rectified by another clause like you say
But that seems like a really easy negotiation and not something that would take 12 months and counting
Locke are more interested in the Dathomir case at the ICC as that is the quickest path to them being repaid imo
Winenut
GO AVZ!!!!
Know where you're coming from on that
Carlos Danger
Top 20
Yeah I agree having Locke funding puts us in a much better position than needing to dilute with tin rattling offered only to select shareholders
But with or without funds there is obviously something the DRC government want that AVZ are so far are unwilling to agree to
The MoU was an obvious smokescreen from the day it was announced imo
'A break-fee of US$1,000,000 is payable to Locke by AVZ in the event that AVZ terminates the Term Sheet at any time'
I'm not too worried about the break fee. We would only terminate the term sheet if we had an alternative sorted or an end game deal imo
You’re right about AVZ having something the DRC want. DRC gov are using at arms length Cominiere to test AVZs limits, and if it goes bad at ICC or ICSID, Cominiere is the fall guy.
But there are some instances where if that happens and depending on judgements and their enforcement that the DRC may lose some or all of their remaining percentage of ownership of the asset.
Pretty sure you’ll find the DRC want assurances from AVZ, that AVZ can’t and shouldn’t give. Same goes for CDL.
"Pretty sure you’ll find the DRC want assurances from AVZ, that AVZ can’t and shouldn’t give. Same goes for CDL."
If that's the case AVZ can only play this card in the Knowledge : A. They are confident funding is 100% guaranteed .
B. No chance of a BoD spill .
I think you are discounting China's influence .
Lets wait and see what @geo_au's promised announcement is all about . Things might be a clearer after that .
We aint going mining Wino, you can be assured of that.
Locke funding vital to stay in the long game and force DRC govt hand as per Roon previous post.
imo
**The Waiting Game**
Geo once swore a fix would rise,
To lift our lithium-craving cries.
A promised update, gleaming bright,
Would ease our endless finance fight.
But days stretch long, and still no word,
The silence sharp, a wound unheard.
We sift through debts like desert sand,
While Geo’s update stays unmanned.
Our balance sheets bear heavy strain,
With each lost promise, deeper pain.
And here we stand, on brittle ground—
No rescue in the silence found.
Geo, hear us, break the spell—
Bring the news that ends this hell.
Geo once swore a fix would rise,
To lift our lithium-craving cries.
A promised update, gleaming bright,
Would ease our endless finance fight.
But days stretch long, and still no word,
The silence sharp, a wound unheard.
We sift through debts like desert sand,
While Geo’s update stays unmanned.
Our balance sheets bear heavy strain,
With each lost promise, deeper pain.
And here we stand, on brittle ground—
No rescue in the silence found.
Geo, hear us, break the spell—
Bring the news that ends this hell.
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