AVZ Discussion 2022
- Thread starter GazDix
- Start date
I've heard Ken Brinsden, ex PLS now PMT, make similar - if not the same - argument about the high production costs of the Chinese lepidolite.
To me it sounded a bit like the old iron ore price floor theory. Unfortunately that didn't end well for Ken (Atlas IO).
But he did also say that we were going to go through a period of de-stocking battery supplies (and pain) over the next 18 months, and that it would be a tough time for lithium.
That was probably about 6-8 months ago IIRC...
The main question I have is, why and how has the AFP decided to go balls deep and execute a search warrant with 10 officers, if the search warrant is in regard to allegations of bribery which would logically be regarding the payment of money to Marius Mihigo.
Everything was done above board/cleared by DLA Piper, as is reported in the AFR article that Tom Richardson wrote (as today's announcement refers to media leaks in Feb 2023, which was Tom Richardson's article in the AFR). It specifically mentions the board consulted the legal firm, and implemented the legal advice, which was to not offer a mix of shares/cash as additional fees.
If we assume today's announcement is the whole truth, and there aren't other elements of corruption/bribery being investigated, I'm just surprised that such a massive undertaking was conducted over something that doesn't seem particularly damning/has been done with legal advice. Maybe someone with experience of such investigations can comment?
I guess my main questions at this stage are:
1. Were the AFP sniffing around before AVZ wrote to them in June, or did AVZ honestly write to them first to get ahead of the ball, and their investigation has resulted from that?
2. Is what has been reported by Tom R in 2023 bribery/corruption if we assume that is the whole truth and if it was done with legal advice and above board? As in, considering all that, is paying a 1 million consultant fee a bribe? If so, what's the difference between a bribe and a consultant fee?
3. Does the AFP have jurisdiction over these things, if it was paid to a foreign consultant? Wouldn't that require a compromising/breaking of the law in both countries and therefore bilateral legal co-operation to investigate? It seems it would affect the DRC far more than Australia in this case.
4. As mentioned in the announcement today, if all throughout the ICISD process and the arbitration processes, as far as we know no evidence has been found or supplied for 'baseless' bribery claims, why would the AFP undertake such a massive operation? And if AVZ have been co-operative from the beginning, why would they need to "raid" the office?
I feel these are all reasonable questions.
Everything was done above board/cleared by DLA Piper, as is reported in the AFR article that Tom Richardson wrote (as today's announcement refers to media leaks in Feb 2023, which was Tom Richardson's article in the AFR). It specifically mentions the board consulted the legal firm, and implemented the legal advice, which was to not offer a mix of shares/cash as additional fees.
If we assume today's announcement is the whole truth, and there aren't other elements of corruption/bribery being investigated, I'm just surprised that such a massive undertaking was conducted over something that doesn't seem particularly damning/has been done with legal advice. Maybe someone with experience of such investigations can comment?
I guess my main questions at this stage are:
1. Were the AFP sniffing around before AVZ wrote to them in June, or did AVZ honestly write to them first to get ahead of the ball, and their investigation has resulted from that?
2. Is what has been reported by Tom R in 2023 bribery/corruption if we assume that is the whole truth and if it was done with legal advice and above board? As in, considering all that, is paying a 1 million consultant fee a bribe? If so, what's the difference between a bribe and a consultant fee?
3. Does the AFP have jurisdiction over these things, if it was paid to a foreign consultant? Wouldn't that require a compromising/breaking of the law in both countries and therefore bilateral legal co-operation to investigate? It seems it would affect the DRC far more than Australia in this case.
4. As mentioned in the announcement today, if all throughout the ICISD process and the arbitration processes, as far as we know no evidence has been found or supplied for 'baseless' bribery claims, why would the AFP undertake such a massive operation? And if AVZ have been co-operative from the beginning, why would they need to "raid" the office?
I feel these are all reasonable questions.
Lawyers warned on potential deterioration of AVZ’s governance
Zijin Mining has blamed AVZ for the DRC’s decision to revoke a mining licence, as AVZ refused to comment whether its trading halt could be lifted.
This is the old AFR article mentioned in today's announcement if anyone has forgotten.
Lawyers warned on potential deterioration of AVZ’s governance
Zijin Mining has blamed AVZ for the DRC’s decision to revoke a mining licence, as AVZ refused to comment whether its trading halt could be lifted.www.afr.com
This is the old AFR article mentioned in today's announcement if anyone has forgotten.
Tell me how paying a consultant in the DRC to encourage a better relationship between the DRC Gov and AVZ is a crime ?
Only people that can take exception are AVZ shareholders because it ended up being a waste of company money when our coffers were starting to run low . It's absurd for these f--king tool bags nuff nuffs in the DRC to think it's some kind of corruption /bribe on AVZ's part . It doesn't even make sense . Bring on the ICSID .
Winenut
Go AVZ!
Anus Hol (okay I assume silent H considering the marketing)
Genius name for a rectum product!
Superbly apt name for the investing climate in the DRC and the powers that be there
Just sayin'....
Anus Hol (okay I assume silent H considering the marketing)
Genius name for a rectum product!
Superbly apt name for the investing climate in the DRC and the powers that be there
Just sayin'....
BRICK
Top 20
Sorry about this Anatol….
Do I get it at chemist warehouse?
Schnitzelfresser
Regular
When will AVZ finally close the Netflix deal? It's going to be a trilogy.
Frank
Top 20
Frank
Top 20
DRC public companies "are going through a deep crisis" (Minister of Portfolio)
Almost all of the DRC's public companies are currently underperforming and their situation remains very worrying, warned the Minister of Portfolio, Jean-Lucien Bussa, at the opening, Monday, December 9, 2024, in Kinshasa of the work of the general assembly of the State portfolio.
Several challenges must be met in order to achieve impeccable management of these companies.
The deep crisis that is currently ruining them is manifested by mismanagement, internal rivalries, lack of rigor and many others, indicates Jean Lucien Bussa.
To promote the effective revival of the DRC's public companies, it is necessary to strengthen the roles of internal audit and to clearly define the attributions of the boards of directors and those of general managers and their deputies.
Some public officials do not respect the rules of governance.
In most cases, according to the minister, the crisis is manifested by "the infelicity of the boards of directors, which, instead of functioning as strategic bodies, want to get involved in daily management.
The general managers, for their part, have difficulty implementing the decisions of the boards of directors and are resistant to control".
These general meetings of the State portfolio are held under the theme of "making the State portfolio a powerful lever for economic growth and social development in the DRC".
The debates will be led by members of the Government, public officials, scientists, students and civil society.
mediacongo
Almost all of the DRC's public companies are currently underperforming and their situation remains very worrying, warned the Minister of Portfolio, Jean-Lucien Bussa, at the opening, Monday, December 9, 2024, in Kinshasa of the work of the general assembly of the State portfolio.
Several challenges must be met in order to achieve impeccable management of these companies.
The deep crisis that is currently ruining them is manifested by mismanagement, internal rivalries, lack of rigor and many others, indicates Jean Lucien Bussa.
To promote the effective revival of the DRC's public companies, it is necessary to strengthen the roles of internal audit and to clearly define the attributions of the boards of directors and those of general managers and their deputies.
Some public officials do not respect the rules of governance.
In most cases, according to the minister, the crisis is manifested by "the infelicity of the boards of directors, which, instead of functioning as strategic bodies, want to get involved in daily management.
The general managers, for their part, have difficulty implementing the decisions of the boards of directors and are resistant to control".
These general meetings of the State portfolio are held under the theme of "making the State portfolio a powerful lever for economic growth and social development in the DRC".
The debates will be led by members of the Government, public officials, scientists, students and civil society.
mediacongo
Needs a murder or two
The History Podcast - Shadow War: China and the West - Welcome to The History Podcast - BBC Sounds
Gordon Corera welcomes you to The History Podcast.
www.bbc.co.uk
Try this for a bit of background.
We all know what we're up against.
This clarfies it.
Winenut
Go AVZ!
Friends let you know the plan??
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