So have CATH provided the $20 million already? AS in it's sitting in a SAFE bank account ready to be drawn down on? or is that subject to ML being delivered? I got lost a tad in the wording. Also the Locke Funding it seems we've canned it completely... I'd have liked for that to be there ready in case funny busines goes on.
AVZ Discussion 2022
- Thread starter GazDix
- Start date
Carlos Danger
Top 20
The exact amount we are borrowing is how much was in escrow under the original TIA terms
'Released to CATH' is pretty vague
I reckon the fine print of the restructured TIA deal ensures we get access to this money in tranches under approval from CATH with the first $10m guaranteed by end of this month imo
Winenut
Go AVZ!
Thanks mate
I've been pouring over past presentations from the company, annual reports, the different threads on AVZ here, general googles searches on each of the entities eg Green Lithium Holdings Pte Ltd (Singapore I think), AVZ International Pty Ltd, AVZ Minerals Pty Ltd, the Dathcom JV you name it and.......
Winenut
Go AVZ!
Thanks Carlos
The other pieces of the puzzle is the underlying detail
We know AVZ is not "directly" involved with Dathcom (it's simplified in the pie charts showing just "AVZ")
The actual party involved with Dathcom is AVZI
AVZ International Pty Ltd (AVZI) is a subsidiary of AVZ Minerals and has it's own shareholding structure
So too does the related entity Green Lithium Holdings Pte Ltd (GLH)
It's all of these underlying parent and subsidiary relationships/ corporate structures and % shareholders/shareholdings that I'm really after
Also interested in certainty on where they are domiciled
We know AVZ is in Australia, AVZI I'm note sure, GLH I think Singapore or Hong Kong
Samus
Top 20
Let that sink in.
Essentially they're risking fucking nothing.
This should have happened long ago.
Fucking grubs.
Frank
Top 20
In the DRC, the battle for Manono lithium also pits Chinese groups against each other
En RDC, la bataille pour le lithium de Manono oppose aussi des groupes chinois
Le chinois Zijin Mining devrait commencer l’exploitation du gisement de lithium de Manono en 2026. Or, la propriété de ce projet situé en RDC faitwww.agenceecofin.com
More reporting on the AVZ CATH deal.
The Chinese Zijin Mining is expected to begin mining the Manono lithium deposit in 2026.
However, ownership of this project located in the DRC is the subject of a dispute with the Australian AVZ, which can count, more than ever, on the support of another Chinese company.
In the battle opposing the Chinese Zijin Mining for control of the Manono project, the Australian AVZ now benefits from the active support of another Chinese group, Suzhou CATH Energy Technologies.
AVZ announced on Wednesday, January 8, that it had obtained a $20 million facility from CATH to finance certain company expenses.
This new agreement, consolidating a partnership between the two parties in force since 2021, comes the day after another development concerning Manono.
According to Bloomberg, which relayed statements from the company in an email exchange on November 7, Zijin plans to put the lithium deposit into production in 2026.
This is despite the disputes surrounding the mining permit granted by the DRC.
By remaining alongside AVZ, CATH intends to eventually secure 100% of Manono's lithium production.
The Chinese company will thus have the right to purchase all of Manono's production for five years, or until AVZ's expenses that it has facilitated are reimbursed.
Subject to obtaining the mining rights on Manono, CATH will also have the possibility of acquiring an indirect 30.5% stake in the project by paying $259.25 million to AVZ.
In its press release of January 8, AVZ did not indicate when it hopes to regain control of the Manono project, nor did it comment on recent developments regarding Zijin’s production start-up in 2026.
It should be recalled that the Australian company has initiated various legal proceedings in recent years to contest its eviction from the Manono project, but the outcome of these initiatives remains uncertain.
In any case, the interest of investors, both Chinese and Western, in the Manono project demonstrates the potential of this deposit, which could position the DRC as one of the main lithium producers in Africa.
According to a previous estimate by AVZ, the Manono deposit would host at least 400 million tonnes of mineral resources grading 1.65% lithium.
x.com
x.com
Xerof
Have a Cigar 1975
To be honest I don't know why anyone thinks Cong has a valid case. He's fucking toast. (I do recall a person who shall remain nameless saying a couple of years ago that Pei will take care of Cong from the sidelines) I'm not going down that rabbit hole but I suspect things have moved on from such hubris and the courts will decide, or Xi
And all these negative slants just fire up the shitstain with his incomprehensible rubbish
Found something in the 2022 Accounts
So getting somehwere at least
View attachment 75819
EDIT: Thanks Carlos for your post above. I didn't see it before posting mine
Wino, I would assume most or all those other 'service' entities will end up under GLH (mentioned in the announcement)
Carlos Danger
Top 20
Found something in the 2022 Accounts
So getting somehwere at least
View attachment 75819
EDIT: Thanks Carlos for your post above. I didn't see it before posting mine
There are a few interesting few points in the ICC emergency orders for the Cominiere case
All of the decisions especially around costs refer to GLH as the primary claimant
So at some point the control of 75% holding in Dathcom has somehow been transferred from AVZI to GLH after incorporation in Singapore on 8 March 2022 imo
Note 13 on page 30 says ‘The emergency arbitrator notes in this regard that although the Respondent indicates in its Response that GLH is not a shareholder of the company and that the transfer of AVZ shares to the latter was not ratified by the company (see paragraph 24), the Defendant draws no conclusions from this’
There is a pertinent question of exactly how GLH has ownership and whether Cominiere should have had FROR over any ‘transfer’. I’m guessing they just sold / transferred AVZI to GLH to avoid this issue and firb for the restructured CATH TIA but I don’t know for sure.
WattleImpressionist? Surrealist? Water Colour? Realist? Expressionist? Landscape? Portrait? Dulux????
Just stirring
Winenut
Go AVZ!
Anyone care to just run a ruler over this and see that I've got the starting point correct?
Note this structure is "pre" the awarding of a Mining Licence, does not take into account the dispute with Dathomir and does not incorporate any other events like the fucksticks Cominiere illegally floging off 15% to corrupt Zijin, the previous TIA with CATH picking up 24% nor the new proposed arrangement with CATH/Mr Pei involving GLH
Carlos Danger
Top 20
GLH has to sit between AVZ and AVZI or they wouldn't be a party to all of the various arbitrations imo
And there's a U missing from Cominiere's abbreviation
Winenut
Go AVZ!
Thank you for that @Carlos Danger
Does your comment on the positions imply that AVZI is a 100% subsidiary of GLH who is in turn a 100% subsidiary of AVZ Minerals?
Does your comment on the positions imply that AVZI is a 100% subsidiary of GLH who is in turn a 100% subsidiary of AVZ Minerals?
Winenut
Go AVZ!
I didn't want to be too obvious with the ticker for Cominiere but I'm glad you picked up where I was going
Carlos Danger
Top 20
Yeah I reckon
Could be that they made GLH a subsidary of AVZI instead but that would require a transfer of the Datchom shares to GLH which would have most likely caused FROR problems under the Dathcom JVA
Either way GLH needs to be between AVZ and AVZI or AVZI and Dathcom for GLH to be a party to arbitrations and for sale of its shares to represent an indirect 30.5% interest in Manono transferred to CATH imo
Winenut
Go AVZ!
Cool
I'll redo my structure and then start having a look at the proposed arrangement and possible scenarios and see how it all flows through
Fuck I'm a nerd.....
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