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.Not sure I am gonna be happy about a closure of Locke funding or not. Only results in the long long long game.
What's Locke's cut ? No mention in the SRR announcement .'Security of the Facility is limited to the Claim, associated potential proceeds and all benefits arising from the property and assets of the subsidiary companies comprising the ownership chain pertaining to the Project'
12 months for AVZ and Locke to agree on an appropriate $ or % repayment from the ICSID claim?
20m USD is a very particular number imo
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.What's Locke's cut ? No mention in the SRR announcement .
'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.'What's Locke's cut ? No mention in the SRR announcement .
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.
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 claimAgreed 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.
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 .'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?
If we get granted the licence then you could go mining and eventually pay back Locke?'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?
Sorry I'm assuming that..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?....
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?....
Yeah that was the point I was trying to make although it could be rectified by another clause like you saySorry 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
Know where you're coming from on thatYeah 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
Yeah I agree having Locke funding puts us in a much better position than needing to dilute with tin rattling offered only to select shareholdersCould 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 .
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 with or without funds there is obviously something the DRC government want that AVZ are so far are unwilling to agree to
"Pretty sure you’ll find the DRC want assurances from AVZ, that AVZ can’t and shouldn’t give. Same goes for CDL."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.
We aint going mining Wino, you can be assured of that.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?....