Cong did relinquish his 15% stake in Dathcom when AVZ handed over $US20m. Cong returned it because sellers remorse with Lusaka setting up an escrow account and placed in charge of that transaction.According to AVZ, the missing $US20m belongs to Cong Mao Huai as payment for his 15% of Dathcom.
According to Cong Mao Huai and the DRC criminal court, the missing $US20m belongs to AVZ as returned payment for his 15% of Dathcom.
Regardless of who actually owns the $US20m, its ownership has been in dispute since 2021. Therefore it could never (prudently) be used as security for Locke or any other debt facility. When this is viewed through the lens of AVZ's only other significant asset, the disputed tenement PR 13559, unfortunately there is not much that AVZ can offer a financier, which is not already encumbered or in dispute.
However, all is not lost. Given Cong's well-established contacts in Kinshasa's seedy underbelly, he should be able to locate and retrieve (somebody's) $US20m in a heartbeat, and in the process possibly moderate Christian Lusaka's boyish enthusiasm.
With the benefit of hindsight, I reckon Cong Mao might regret not pocketing the $US20m and relinquishing his 15% stake in Dathcom.
Just musing on a wet Friday afternoon.
Cheers
F
Correct me if I'm wrong , but did we not also give Cong 200+million shares ? A nice $200 million + pay day for the taking . Or did he sell them for peanuts because he thought the Manono project was a dog with fleas ?Cong did relinquish his 15% stake in Dathcom when AVZ handed over $US20m. Cong returned it because sellers remorse with Lusaka setting up an escrow account and placed in charge of that transaction.
Missing money is purely between Cong and Lusaka with nothing to do with AVZ. Sellers remorse is not a legal argument for thinking the deal can be reversed.
We defo agree on thatYes, that's the unfortunate irony, and world we currently live in.
One day, AVZ will be vindicated, and those lying, thieving knuckle-draggers will turn on each other with clubs and machetes.
The going rate for damages in regards to this matter is currently $25m USD according to the DRC court systemCong did relinquish his 15% stake in Dathcom when AVZ handed over $US20m. Cong returned it because sellers remorse with Lusaka setting up an escrow account and placed in charge of that transaction.
Missing money is purely between Cong and Lusaka with nothing to do with AVZ. Sellers remorse is not a legal argument for thinking the deal can be reversed.
No mention of Cong getting 200+million shares with the deal.Correct me if I'm wrong , but did we not also give Cong 200+million shares ? A nice $200 million + pay day for the taking . Or did he sell them for peanuts because he thought the Manono project was a dog with fleas ?
Correct me if I'm wrong , but did we not also give Cong 200+million shares ? A nice $200 million + pay day for the taking . Or did he sell them for peanuts because he thought the Manono project was a dog with fleas ?
Dathomir received 260 million shares in 2017. Would have been worth 350m AUD at ATH's and over a billion AUD at fair value. But somehow we didn't give Cong a fair deal when they were dumped on market and he signed the SPA's eyes open as lithium prices crashed in 2019/20 lmaoNo mention of Cong getting 200+million shares with the deal.
Thanks for clearing that up CarlosDathomir received 260 million shares in 2017. Would have been worth 350m AUD at ATH's and over a billion AUD at fair value. But somehow we didn't give Cong a fair deal when they were dumped on market and he signed the SPA's eyes open as lithium prices crashed in 2019/20 lmao
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If you want to rest your hopes on vague heresay instead of the facts that are available, that's up to you.Do you feel big and good about yourself now?
If that sends you into a spiral you might be best giving tse, x and hc a rest for a while....
I'm not arguing with the below at all... I called you out for a ridiculous hissy fit... I completely agree that nothing's real until it's over...If you want to rest your hopes on vague heresay instead of the facts that are available, that's up to you.
But I will continue to call out bullshit both from detractors and shareholders here and on X.
I've got a lot on the line here like many and zero tolerance left for bullshit wherever it comes from.
The only thing that will see shareholders even remotely jumping for joy is the fair sale of AVZ in full and an end to this nightmare. Anything else just doesn't cut it.
Exhibit D - AGM to be held at McDonalds .I'd like to gauge what the actual "shareholder's jumping for joy" is...here's some samples ignoring any downside risk
Exhibit A - SH thinking they'll get FV for our stock based on multiples of this and that things will work out
Exhibit B - Stock gets bought out (but honestly who the fack is buying this), for a reasonable value (because of course it makes sense geopolitics will improve from here)
Exhibit C - Ummmm , its worth heaps guy, buy it?
Im a 2017 holder, this is in jest, but if you have anything more dick tickling then go for your life
Nah we can't give Carrick home ground advantageExhibit D - AGM to be held at McDonalds .
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Yes it is always amusing when someone that has no idea what they’re talking about runs their mouth
The DRC didn’t cancel Dathcom’s ownership of Manono. The only thing the DRC state did was cancel the legally granted PE for reasons unknown to the mining code. It was Cominiere that purportedly terminated the Dathcom JVA in clear violation of Article 11.1. But you do actually know that and are just saying dumb shit to try and scare people into accepting your fat mates idiotic attempt at taking control of the Manono project without paying fair value to AVZ shareholders.
LoL
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Nah we can't give Carrick home ground advantage
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That crusty old cunt looks like he loves a bit of turtle soup.Home ground advantage for Carrotdick would be if the AGM was held in Guangzhou..... accompanied by a succulent Chinese meal
Dude there is not one single person, ever that listens to Lars, or similar numbskulls like Tolate and Hoots.View attachment 71413
Yes it is always amusing when someone that has no idea what they’re talking about runs their mouth
The DRC didn’t cancel Dathcom’s ownership of Manono. The only thing the DRC state did was cancel the legally granted PE for reasons unknown to the mining code. It was Cominiere that purportedly terminated the Dathcom JVA in clear violation of Article 11.1. But you do actually know that and are just saying dumb shit to try and scare people into accepting your fat mates idiotic attempt at taking control of the Manono project without paying fair value to AVZ shareholders.
LoL
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