Winenut
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AVZ Discussion 2022
- Thread starter GazDix
- Start date
Good pick up Biesh
DRC already run a Rambo legal system. Making shit up on the spot to suit whoever gets the brown paper bags. But I reckon screw them. We have followed the mining code and what’s been in writing agreed and progressed. Remember we have no done ANYTHING illegal. They don’t get 25% that easy but I agree… it will be negotiated with a the ML coming back out way. in hand with no legal “take backs” allowed. This has to be watertight and we keep the legal in action. I don’t wanna see the board take its foot off the pedal.
We didn’t wait 2.5 years just to be happy with the ML. I want it all. Every last bit of dirt that the company and shareholders have legal title too.
We didn’t wait 2.5 years just to be happy with the ML. I want it all. Every last bit of dirt that the company and shareholders have legal title too.
If it is not 10%, it is not free carried in regard of the development costs of the project.
Ceding 10% to the DRC Government makes the DRC's ownership free carried according to the DRC mining code.
If the DRC wishes to retain 25%, they will have to pay 25% of the development costs (and also probably what has been spent already, as AVZ so far has carried all the costs and the DRC's Cominiere has been busy stuffing their face with mars bars rinsed away with beer.)
Just a minor point IMO
Winenut
Go AVZ!
Or will 10% still be free-carried and the DRC contribute 15% toward Development costs for the extra bit?
Made my morning (and my year) reading about Zijin and all their subsidiaries being directly sanctioned by the US. Ouch. That’s going to cost them tens of billions.
All their potential exports are banned for their use of forced labour. Now we can see why they hurriedly sold up their only mine in Australia.
All their potential exports are banned for their use of forced labour. Now we can see why they hurriedly sold up their only mine in Australia.
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Pretty sure Zijin and Ivanhoe ended up giving the DRC a greater free carried share in their project than what the Mining Code stipulates. I think it was 20% they ceded, rather than 10%, after extended negotiations. Don't quote me on that though.
I foresee a similar thing occurring with our project. I'm fine with that if it gets this deadlock broken, and the Project moving forward, but I would want it to be through the DRC direct rather than Cominiere. They're poison.
GLH 75 / DRC 25?
80 / 20 ?
Even if this requires us purchasing the remaining 15% off Cominiere and ceding some to the Government (perhaps with money from Zijin as part of deal in ehich they keep much of the north), this might work. In exchange for reshaping the boundaries and returning the original 'south' allowing water access, and forcing Zijin to share the power through some kind of JV.
Dathomir can fuck right off. ICC will show themwhere they stand. Or at the very worst if it comes to it, and we need woder harmony to get a deal going, then maybe CATH can fling them a bit of cash to soften the blow.
TheCount
Regular
That’s a major point as far as I am concerned.
They have no way to fund any contribution to costs!
Frank
Top 20
US bans imports from 37 China firms over forced labor charge
The Biden administration has added 37 companies from China’s mining, solar and textile sectors to its list of those banned from exporting to the US due to alleged forced labor practices in the Xinjiang region.
The firms include mining giant Zijin Mining Group, and solar companies such as a subsidiary of JA Solar Technology Co., according to a statement from the Department of Homeland Security. The list also includes textile manufacturer Huafu Fashion Co. and 25 of its subsidiaries.
US and European companies have been under pressure to pull away from factories that make clothes and other products in the Xinjiang region.
Labor groups have documented alleged forced labor camps and other poor working conditions involving the local Uyghur population.
China’s government disputes these claims.
The additions represent the largest single expansion of the Uyghur Forced Labor Prevention Act list since the law was passed in 2021, and bring the total number of companies banned to 144, according to the statement.
Zijin has no assets or revenues in the US and the ban will not have a significant impact, the company said in a statement.
The miner respects the personal freedom of employees and offers competitive salaries in Xinjiang, it said.
The firm posted its biggest one-day decline since October on Wednesday with a fall of 5.9% in Hong Kong.
Chinese Foreign Ministry spokesman Guo Jiakun called the law “evil” at a regular press briefing in Beijing on Wednesday, and said the bans on the companies amounted to interference in the country’s internal affairs.
He added that Beijing would “take resolute measures to firmly safeguard the legitimate rights and interests of Chinese enterprises.”
Major Chinese solar companies have already started switching to more expensive polysilicon from Western countries to eliminate risks linked to the law and import ban.
As for JA Solar, the impact of its addition to the US list is expected to be limited as the subsidiary closed in 2024 and didn’t supply directly or indirectly to the US, according to a note by BofA Global Research.
“That said, this serves another reminder that Chinese solar will face rising trade headwinds especially in the US,” BofA Global said.
mining.com
Chinese Foreign Ministry spokesman Guo Jiakun called the law “evil”
This is the true meaning of EVIL you
No the trick was cede to 10% and free carry, or retain 25% and pay 25% of the development costs.
It is what I understood out of the mining code.
Bray
Regular
Makes ya feel all warm and fuzzy inside hey, take that ya dogs
Will not have a “significant impact” according to Zijin. Laughable. Fell 6% in HK.US bans imports from 37 China firms over forced labor charge
The Biden administration has added 37 companies from China’s mining, solar and textile sectors to its list of those banned from exporting to the US due to alleged forced labor practices in the Xinjiang region.
The firms include mining giant Zijin Mining Group, and solar companies such as a subsidiary of JA Solar Technology Co., according to a statement from the Department of Homeland Security. The list also includes textile manufacturer Huafu Fashion Co. and 25 of its subsidiaries.
US and European companies have been under pressure to pull away from factories that make clothes and other products in the Xinjiang region.
Labor groups have documented alleged forced labor camps and other poor working conditions involving the local Uyghur population.
China’s government disputes these claims.
The additions represent the largest single expansion of the Uyghur Forced Labor Prevention Act list since the law was passed in 2021, and bring the total number of companies banned to 144, according to the statement.
Zijin has no assets or revenues in the US and the ban will not have a significant impact, the company said in a statement.
The miner respects the personal freedom of employees and offers competitive salaries in Xinjiang, it said.
The firm posted its biggest one-day decline since October on Wednesday with a fall of 5.9% in Hong Kong.
Chinese Foreign Ministry spokesman Guo Jiakun called the law “evil” at a regular press briefing in Beijing on Wednesday, and said the bans on the companies amounted to interference in the country’s internal affairs.
He added that Beijing would “take resolute measures to firmly safeguard the legitimate rights and interests of Chinese enterprises.”
Major Chinese solar companies have already started switching to more expensive polysilicon from Western countries to eliminate risks linked to the law and import ban.
As for JA Solar, the impact of its addition to the US list is expected to be limited as the subsidiary closed in 2024 and didn’t supply directly or indirectly to the US, according to a note by BofA Global Research.
“That said, this serves another reminder that Chinese solar will face rising trade headwinds especially in the US,” BofA Global said.
mining.com
Chinese Foreign Ministry spokesman Guo Jiakun called the law “evil”
This is the true meaning of EVIL you
View attachment 76102
I expect that more diplomatic pressure is coming for Zijin. Great news for AVZ. We can more easily paint them as corrupt and evil when the US state department are doing just that
Prod
Member
Sorry didn't mean to start a separate thread.
Hi guys,
I realise this may be a bit of topic and unless what I'm thinking may have been done on a different stock of mine held.
In the early days there was a skit put together where Hitler was losing his shit over how things were progressing with avz .it's all made up of course but it was hilarious, I'm hoping it was on this forum and if there's any chance of getting it back.
Cheers
Hi guys,
I realise this may be a bit of topic and unless what I'm thinking may have been done on a different stock of mine held.
In the early days there was a skit put together where Hitler was losing his shit over how things were progressing with avz .it's all made up of course but it was hilarious, I'm hoping it was on this forum and if there's any chance of getting it back.
Cheers
Bin59
Regular
Manono Lithium have not complied with the Mining Code : “evidence of the transter of 10% of the shares or shares of their share capital to the Congolese State, in accordance with the provisions of Article 71, littera d of the Mining Code, has not been traced in its registers.
The holders concerned are therefore requested to deposit, within 45 days of this publication, evidence of the effective transfer of said shares or shares, at the Guichet du Cadastre Minier, located at the intersection of Mpolo and Kasa-Vubu avenues in Kinshasa/Gombe. After this period, the law will apply in its rigor.”
Extended negotiations is the point.
But the mining code exists.
Many voices in the DRC say that the DRC should have a larger interest in mines, I believe Australia should actually do the same.
But to achieve that higher percentage, people should negotiate in a healthy way, not with a gun, or brown paper bags on, or under the table.
Learn from Norway.
Only the sun is for free and free legal wins if your missus is a judge and has a vested interest.
Btw, In the wash up, can the DRC afford CKK's wife to remain a judge?
Let's say it is pretty horrible, to have judges with luggage like that in your judicial system.
Especially taking in account that the DRC uses the Death Penalty as a legal sentence.
Xerof
Have a Cigar 1975
And the only mine where their personnel are being investigated for CORRUPTION.
Couldn't happen to a nicer bunch of blokes. MMGA must be proud to be associated with them too
Nellie17
Regular
Do you mean this one?
Zijin find out they can't steal Manono
A light-hearted look at the moment Zijin discover their bribes and corruption doesnt work anymore in a more democratic DRC under Mr.Tshisekidi with a certain Mr.Alingete from the IGF hunting down criminal behaviour.
www.captiongenerator.com
Cheers,
Nells x
Prod
Member
Nell's, you're an absolute legend. Thank you and time to have a good laugh again.Do you mean this one?
Zijin find out they can't steal Manono
A light-hearted look at the moment Zijin discover their bribes and corruption doesnt work anymore in a more democratic DRC under Mr.Tshisekidi with a certain Mr.Alingete from the IGF hunting down criminal behaviour.www.captiongenerator.com
Cheers,
Nells x
Hodlandwin69
Regular
Anymore info on source apart from "grapevine"?
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