AVZ Discussion 2022

[Deleted member 2428]

All I want to do is sue the DRC government for corruption and still remain their partner, well their partner after they clean out the rats, that's the battle we are really fighting here, what liability are these useless cunce going to take?

How do we do that because it's more their fault than Zijins/Dathomirs/Kong/s.Klaus etc

It seems to me that Felix and his cohorts in DRC are as week as piss, whereas the previous government voted out and insiders have tentacles everywhere within and are still running the show until the 2023 election where FT will be voted out again. Hope not, but where is the fight from FT in support of truth and anti corruption? no where to be seen atm, unless they are planning a sucker punch on 1 July to Z and Others. Are these officials capable of reform???
AVZ/ Australia is a minnow in the scheme of things compared with belt and roads China infiltration of DRC and ever where e.g South Pacific.

Remember, China hates Australia and has cut us off where they can get supplies elsewhere.

I don’t think it is realistic to think CATL are more aligned with AVZ then Z and China government, do you?

CaTL are IMO working with China, Z and DRC to fuck us over big time. Felix is a Lone Range for anti corruption , but so far not a vocal supportor of AVZ - SILENCE .

Not a good look, what will July 1- bring….. Extension to suspension while NF tries to get ducks lined up to save face for LTSHs with some sort of China T/O of $1-1.50 with Labor government support (hoping not 50c which China are likely to offer).

Europe or USA don’t seem to be coming to the rescue 🛟 do they?

DRC business is still a shit show, they are losing millions every week while AVZ is denied ML etc, but still silence cause China has got them by the ball sack. AIMO.

Bring on all announcements on 1 July and SP $1, then $2, then $3, then $4 and sell - wishing for a miracle

 

[BEISHA]

Mate Glencore are now advertising on tv ch7 during peak times, wtf is with that shit !

It’s not for jobs or hiring it’s just to let people know who they are….

Some weird shit going on…..
Maybe I should roll another joint also…

GLTAH

Yeah, i almost choked on my t bone when i saw that add...........what a friggin juxtaposition, squeeky clean image on TV, with a corrupt background.


lol,lol,lol,lol

 

[CashKing]

Haha yeh I said to the misso, that's not good Glencore are doing ads. They sure stuffed up something

Somethings definitely up…

 

[CashKing]

Yeah, i almost choked on my t bone when i saw that add...........what a friggin juxtaposition, squeeky clean image on TV, with a corrupt background.


lol,lol,lol,lol

Yep all above board for a advertisement Clean as. Wonder what they are up to ?

Love towards the ending “you have probably never heard of us”

Fuck me it’s on again just now a new one everyone looks very clean…

Alright looks like my smart TVs onto me wtf

Wait wtf some really weird shit going on.

Was that Nigel in the ad ?

GLTAH

 

[CashKing]

Also Ch10 tonight

Well at least they aren’t cutting costs anymore … Advertising ain’t cheap especially at peak tv time.. very odd..

 

[BEISHA]

I think the Technical Approval applies to what is stated in the DFS so that is where you would find the exact details. I don’t know why you think the license is cut in half, and, if Zigin claim was valid, that would mean Cominiere would be left with nothing (not Cominiere / DRC 25%) because Cominiere’s last 10% would go to the DRC. I don’t think Zigin has any claim but if they did, we would still have 51% (after giving 24% to CATH). Aside from all that, if it came down to it, AVZ could just allow Zigin to win and therefore contribute to funding and actually begin work on infrastructure, and negotiate less % to CATH because we don’t trust them because they did not use their enormous influence to help our current position.

I was being a bit flippant with " licence cut in half "

" Ministerial decree to award the ML includes the entirety of Roche Dure jorc resource, reserve 2& 3 and CDL "

If AVZ has fullfilled all the requirements, why dont we have ALL the goodies ?

Whats the hold up ?

9 months and counting...................its disgrace !

I dont think ZIJIN has a claim either, but this is the chinese we are talking about here, where the law dont count, but money talks, especially with the DRC.

imo

 

[obe wan]

BEISHA

I specifically put that information in my post and underlined it at the end so Obe would see it and perhaps provide further information on it. I have been watching out for the License Renewal (Term of validity of PR13359 due on 27 December 2021) for the last 9 months and I have never seen it renewed.

Bin59 provided The Mining Rights and Required Licenses and Permits Document which states:

....to be eligible for a mining permit, companies are obliged to either form a joint venture with a state-owned company (such as Gécamines) - (or in our case, Cominiere) that already holds the necessary permits, or freely assign a mandatory 10 per cent stake of its share capital to the DRC.

- My view is that the Cominiere dispute (selling 15% equity to Zigin) is the cause of the suspension because it changed the process of renewing AVZ,s mining and exploration rights (The PR13359 License)

The Mining Cadastre has 20 working days to examine the request and to make a decision (Article 40). Following this, the Directorate of Mines must conduct a technical investigation.

- The Technical Approval has been given (ASX Announcement 13 April 2022)

The office in charge of the protection of the environment examines the environmental impact study and the environment management plan. These reviews must be conducted within a period of time set forth in the Mining Code for each type of request (typically, for exploitation permits, within 30 working days for the Mining Cadastre, 60 working days for the Mining Directorate and 180 working days for the environmental investigation). Should any of the aforementioned authorities fail to reach a decision within the required time frame imposed by the Mining Code, the mining permit will be considered granted. When a favourable decision is made, the Mining Cadastre will then grant the mining permit to the applicant, provided that the relevant surface rights have been paid for within 30 business days. All mining rights are conveyable under the Mining Code. A specific right of amodiation (comparable to a long lease agreement) also entitles the holder of an exploitation permit to transfer all or part of such rights under a rental scheme. Exploitation permits can also be mortgaged. Finally, while mining rights are valid only for specified mineral substances, permits can be extended to additional minerals through specific procedures.

- All requirements have been fulfilled as stated by the granting of the Technical Approval and ASX Announcement 4 May 2022

- DRC Minister of Mines has signed the ministerial decree to award the Mining Licence for the Manono Lithium and Tin Project to Dathcom Mining SA (Dathcom) 1

- DRC Mining Code requires the Cadastre Minier (CAMI), operating under the supervision of the Minister of Mines, to calculate the surface rights fee and officially award the Mining Licence following the receipt of payment

- The Ministerial Decree to award the Mining Licence covers the entirety of the Roche Dure JORC Mineral Resource and Reserve2&3 and the Carriere de l’Este exploration target4

- An area which was excluded under the Ministerial Decree to award the Mining Licence, will be renewed under a 5-year Exploration Licence to Dathcom, with discussions regarding the terms of the ongoing joint venture under discussion with the DRC Government

- The transaction with CATH is progressing well with closure formalities expected to be finalised this month, providing CATH an indirect 24% interest in the Manono Project, whilst AVZ retains a majority stake of 51%

- DRC Council of Ministers expected to meet to provide wide ranging support for all outstanding permitting and licencing requirements for the Manono Project

Hi Moneybags,

regarding the licence renewal dates for 13359, supposedly once you submit your application for exploitation licence then you enter transition mode so to speak , so that exploration expiry remains and can run past the best before date , as you have started the application for the next phase /exploitation.

AVZ have definitely complied with research / exploration requirements; to comply you need to start exploration Within one year; you do not need to be constructing roads etc as it’s just exploration you are carrying out ; logic prevails here I.e. if there’s nothing there why be expected to be pouring money into building roads or other

Mining code 202 - ‘ The rights holder must begin exploration within one year (in the case of a research permit) or begin construction within one year (in the case of an exploitation permit) from the date the title was issued. The rights holder must also pay the surface duty per square over the counter at the Mining Registry.’

you can extend that exploration permit for one more 5 year term subject to a couple of requirements ; but if you go onto the CAMI site , you’ll see that the expiry date nearly every tenement around Manono has passed its sell by date ; that I don’t under stand; may be something to do it the Changes / pause FT put in in May 2021; AVZ did carry out mapping on the Extensions of 4029 & 4030 which is probably enough to carry them through for a second 5 year stint ; but still that exploration date should have started over again , but of the 15 odd tenements I clicked on 90% were expired. I’m sure Klaus / AJN will be picking the best ones he can find out with Chinese chopsticks.

 

[wombat74]

Hi Moneybags,

regarding the licence renewal dates for 13359, supposedly once you submit your application for exploitation licence then you enter transition mode so to speak , so that exploration expiry remains and can run past the best before date , as you have started the application for the next phase /exploitation.

AVZ have definitely complied with research / exploration requirements; to comply you need to start exploration Within one year; you do not need to be constructing roads etc as it’s just exploration you are carrying out ; logic prevails here I.e. if there’s nothing there why be expected to be pouring money into building roads or other

Mining code 202 - ‘ The rights holder must begin exploration within one year (in the case of a research permit) or begin construction within one year (in the case of an exploitation permit) from the date the title was issued. The rights holder must also pay the surface duty per square over the counter at the Mining Registry.’

you can extend that exploration permit for one more 5 year term subject to a couple of requirements ; but if you go onto the CAMI site , you’ll see that the expiry date nearly every tenement around Manono has passed its sell by date ; that I don’t under stand; may be something to do it the Changes / pause FT put in in May 2021; AVZ did carry out mapping on the Extensions of 4029 & 4030 which is probably enough to carry them through for a second 5 year stint ; but still that exploration date should have started over again , but of the 15 odd tenements I clicked on 90% were expired. I’m sure Klaus / AJN will be picking the best ones he can find out with Chinese chopsticks.

But Roche Dure is in the bag? Right ?

 

[CashKing]

I was being a bit flippant with " licence cut in half "

" Ministerial decree to award the ML includes the entirety of Roche Dure jorc resource, reserve 2& 3 and CDL "

If AVZ has fullfilled all the requirements, why dont we have ALL the goodies ?

Whats the hold up ?

9 months and counting...................its disgrace !

I dont think ZIJIN has a claim either, but this is the chinese we are talking about here, where the law dont count, but money talks, especially with the DRC.

imo

Or Glencore has bought out everyone…..

It's all a moving target . Even the most hardened AVZ supporters haven't got a fucking clue . They thought they knew it all but it turns out they know shit .

Ahh If only management would inform us retail holders of what’s going on instead of trying to finalise the deal & sell the lot hey….

Gltah

 

[wombat74]

Or Glencore has bought out everyone…..

Ahh If only management would inform us retail holders of what’s going on instead of trying to finalise the deal & sell the lot hey….

Gltah

$1.50 walk away no more to pay . It's going happen anyway . May as well get it over and done with .

 

[John25]

$1.50 walk away no more to pay . It's going happen anyway . May as well get it over and done with .

Yep ,been 7 weeks & not a WORD …be happy with $1.50 about 1300%, be nice …shove it brother …just keep walking

 

[CashKing]

$1.50 walk away no more to pay . It's going happen anyway . May as well get it over and done with .

..

 

[Frank]

Mate Glencore are now advertising on tv ch7 during peak times, wtf is with that shit !

It’s not for jobs or hiring it’s just to let people know who they are….

Some weird shit going on…..
Maybe I should roll another joint also…

GLTAH

*Just to add / Remind,

Glencore unit pleads guilty to bribery in Africa​

A British subsidiary of Glencore formally pleaded guilty on Tuesday to the seven charges of bribery brought against the mining and commodities trader by the UK Serious Fraud Office, which relate to the firm’s oil operations in Africa.

Glencore Energy confessed to paying $28 million in bribes to secure preferential access to oil, including increased cargoes, valuable grades of oil and preferable dates of delivery in Cameroon, Equatorial Guinea, Ivory Coast, Nigeria and South Sudan.

The company, which also admitted to generating illicit profits between 2011 and 2016, will be sentenced on November 2 and 3,The SFO said.

The successful prosecution is the SFO’s third corporate conviction under the 2010 Bribery Act and makes Glencore the first company to admit to paying off an institution or person under those rules.

The anti-corruption office is still mulling prosecutions against individuals as it, so far, has not targeted any people at the company, triggering criticism.

Glencore has been the subject of multiple investigations in the UK, the United States and Brazil over the past four years for alleged money laundering and corruption.

The company announced in February it had set aside $1.5 billion to cover the costs of settlements it hoped to reach this year.

The Swiss firm in May tackled international bribery charges in the US, pleading guilty to violating the foreign Corrupt Practices Act.

Glencore agreed to pay $1.1 billion to resolve the case spanning seven countries.

It also accepted separate fines for manipulating oil prices at US shipping ports.

It further agreed to pay more than $39.5 million under a resolution signed with the Brazilian Federal Prosecutor’s Office in connection with its bribery investigation.

Glencore, which is also subject to investigations from Swiss and Dutch authorities, has said the timing of those probes remains uncertain but would expect any possible resolution to avoid duplicate penalties for the same conduct.

Glencore says its bribery days are over. Now it has to prove it​

Glencore has closed the “cash desks” in London and Switzerland that once dispensed money for bribes. Employees implicated in sweeping, cross-border corruption investigations are gone.

New safeguards are in place, and boss Gary Nagle says it’s a “different company.”

Now he will have to prove it.

Glencore this week agreed to plead guilty to a web of bribery and price manipulation charges that stretch from Venezuela to Nigeria and Los Angeles in deals with the US, UK and Brazil.

The penalties will total about $1.5-billion but there’s a longer-lasting requirement — the deal with the US Department of Justice (DoJ) means Glencore will spend the next three years being scrutinized by an independent monitor.

It’s a potentially seminal moment for the company founded by US fugitive Marc Rich, which has powerful trading networks in every corner of the globe and operates a sprawling suite of mines producing some of the most important commodities.

Glencore’s top leadership has been overhauled in the last few years as former CEO Ivan Glasenberg and his lieutenants handed over to a younger generation, although many of the new chiefs are also longtime employees.

Glencore’s guilty pleas also come at a time when its trading business is making money like never before as the company cashes in on soaring prices and market volatility.

Now Nagle, who took the helm last year, is seeking to draw a line under the history of bribery that one US attorney said was “built in to the corporate culture.”

“These investigations identified serious cases of past misconduct in parts of our business. We acknowledge this is unacceptable behavior, and I want to re-emphasize that it has no place in the Glencore of today,” Nagle said Tuesday in a letter to employees seen by Bloomberg News.

“Glencore is a different company today than it was when these unacceptable practices occurred.”

The company started as early as 2016 to phase out the use of intermediaries — the agents and dealmakers once essential to cracking the toughest markets but which can serve as arms-length facilitators for bribery and corruption.

Glencore has also put in place an ethics and compliance program and said it will disclose its marketing sales and purchase agents.

The company said Tuesday that it’s expanded its surveillance of communications and transactions in its oil business and expanded risk assessment.

It also said it was beefing up its third-party monitoring systems across its entire trading business.

However, the DoJ said Tuesday that many of remediation steps remain unproven and untested, necessitating an independent monitor and subjecting Glencore’s business to an unprecedented level of ongoing scrutiny.

The DoJ has used monitors for more than 20 years — they can inspect documents, interview employees and make on-site audits, and report back to both the company and the enforcement agency.

Glencore also did not always demonstrate a commitment to full cooperation during the investigation and “did not timely and appropriately remediate with respect to disciplining certain employees involved in the misconduct,” according to the plea agreement with the DoJ.

In legal documents this week, the DoJ and Commodity Futures Trading Commission describe wide-ranging bribery and corruption that reached to the senior ranks of the company.

Traders would use codes like “newspapers” or “chocolates” to refer to corrupt payments, the documents say.

Some of the corrupt payments were made in cash that was dispensed from Glencore offices — the company maintained a “cash desk” in London until about 2011 and in Baar, Switzerland until about 2016, the DoJ said.

While the most senior leaders during the time covered by the investigations have since retired, many of the new department heads were at the company during the period in which the bribery and corruption was found to have taken place.

It’s also not the first time Glencore has found itself in Washington’s crosshairs — founder Rich was indicted in 1983 in part for trading oil with sanctioned Iran, but received a controversial pardon on former President Bill Clinton’s last day in office in 2001.

In his letter to employees, Nagle said he is personally responsible as CEO for embedding the company’s values and ensuring accountability. Glencore has taken “extensive remediation actions, including through the separation or discipline of employees involved in the wrongdoing,” he said.

Alexandra Gillies, an adviser at the Natural Resource Governance Institute, said that some of the reforms that Glencore had implemented were “very meaningful” but called on Glencore to do even more and for its business partners to hold it accountable.

“Even though Glencore has improved its systems, the corruption risks in commodity trading and in the mineral sector are incredibly high right now,” she said.

“I think for Glencore’s partners to say these challenges were all in the past ignores that context. It is partially their role to make sure corruption is prevented in the future.”

Source: Mining Weekly

Glencore - Rotten to the Core

Food for thought

Frank

 

[CashKing]

*Just to add / Remind,

Glencore unit pleads guilty to bribery in Africa​

A British subsidiary of Glencore formally pleaded guilty on Tuesday to the seven charges of bribery brought against the mining and commodities trader by the UK Serious Fraud Office, which relate to the firm’s oil operations in Africa.

Glencore Energy confessed to paying $28 million in bribes to secure preferential access to oil, including increased cargoes, valuable grades of oil and preferable dates of delivery in Cameroon, Equatorial Guinea, Ivory Coast, Nigeria and South Sudan.

The company, which also admitted to generating illicit profits between 2011 and 2016, will be sentenced on November 2 and 3,The SFO said.

The successful prosecution is the SFO’s third corporate conviction under the 2010 Bribery Act and makes Glencore the first company to admit to paying off an institution or person under those rules.

The anti-corruption office is still mulling prosecutions against individuals as it, so far, has not targeted any people at the company, triggering criticism.

Glencore has been the subject of multiple investigations in the UK, the United States and Brazil over the past four years for alleged money laundering and corruption.

The company announced in February it had set aside $1.5 billion to cover the costs of settlements it hoped to reach this year.

The Swiss firm in May tackled international bribery charges in the US, pleading guilty to violating the foreign Corrupt Practices Act.

Glencore agreed to pay $1.1 billion to resolve the case spanning seven countries.

It also accepted separate fines for manipulating oil prices at US shipping ports.

It further agreed to pay more than $39.5 million under a resolution signed with the Brazilian Federal Prosecutor’s Office in connection with its bribery investigation.

Glencore, which is also subject to investigations from Swiss and Dutch authorities, has said the timing of those probes remains uncertain but would expect any possible resolution to avoid duplicate penalties for the same conduct.

Glencore says its bribery days are over. Now it has to prove it​

Glencore has closed the “cash desks” in London and Switzerland that once dispensed money for bribes. Employees implicated in sweeping, cross-border corruption investigations are gone.

New safeguards are in place, and boss Gary Nagle says it’s a “different company.”

Now he will have to prove it.

Glencore this week agreed to plead guilty to a web of bribery and price manipulation charges that stretch from Venezuela to Nigeria and Los Angeles in deals with the US, UK and Brazil.

The penalties will total about $1.5-billion but there’s a longer-lasting requirement — the deal with the US Department of Justice (DoJ) means Glencore will spend the next three years being scrutinized by an independent monitor.

It’s a potentially seminal moment for the company founded by US fugitive Marc Rich, which has powerful trading networks in every corner of the globe and operates a sprawling suite of mines producing some of the most important commodities.

Glencore’s top leadership has been overhauled in the last few years as former CEO Ivan Glasenberg and his lieutenants handed over to a younger generation, although many of the new chiefs are also longtime employees.

Glencore’s guilty pleas also come at a time when its trading business is making money like never before as the company cashes in on soaring prices and market volatility.

Now Nagle, who took the helm last year, is seeking to draw a line under the history of bribery that one US attorney said was “built in to the corporate culture.”

“These investigations identified serious cases of past misconduct in parts of our business. We acknowledge this is unacceptable behavior, and I want to re-emphasize that it has no place in the Glencore of today,” Nagle said Tuesday in a letter to employees seen by Bloomberg News.

“Glencore is a different company today than it was when these unacceptable practices occurred.”

The company started as early as 2016 to phase out the use of intermediaries — the agents and dealmakers once essential to cracking the toughest markets but which can serve as arms-length facilitators for bribery and corruption.

Glencore has also put in place an ethics and compliance program and said it will disclose its marketing sales and purchase agents.

The company said Tuesday that it’s expanded its surveillance of communications and transactions in its oil business and expanded risk assessment.

It also said it was beefing up its third-party monitoring systems across its entire trading business.

However, the DoJ said Tuesday that many of remediation steps remain unproven and untested, necessitating an independent monitor and subjecting Glencore’s business to an unprecedented level of ongoing scrutiny.

The DoJ has used monitors for more than 20 years — they can inspect documents, interview employees and make on-site audits, and report back to both the company and the enforcement agency.

Glencore also did not always demonstrate a commitment to full cooperation during the investigation and “did not timely and appropriately remediate with respect to disciplining certain employees involved in the misconduct,” according to the plea agreement with the DoJ.

In legal documents this week, the DoJ and Commodity Futures Trading Commission describe wide-ranging bribery and corruption that reached to the senior ranks of the company.

Traders would use codes like “newspapers” or “chocolates” to refer to corrupt payments, the documents say.

Some of the corrupt payments were made in cash that was dispensed from Glencore offices — the company maintained a “cash desk” in London until about 2011 and in Baar, Switzerland until about 2016, the DoJ said.

While the most senior leaders during the time covered by the investigations have since retired, many of the new department heads were at the company during the period in which the bribery and corruption was found to have taken place.

It’s also not the first time Glencore has found itself in Washington’s crosshairs — founder Rich was indicted in 1983 in part for trading oil with sanctioned Iran, but received a controversial pardon on former President Bill Clinton’s last day in office in 2001.

In his letter to employees, Nagle said he is personally responsible as CEO for embedding the company’s values and ensuring accountability. Glencore has taken “extensive remediation actions, including through the separation or discipline of employees involved in the wrongdoing,” he said.

Alexandra Gillies, an adviser at the Natural Resource Governance Institute, said that some of the reforms that Glencore had implemented were “very meaningful” but called on Glencore to do even more and for its business partners to hold it accountable.

“Even though Glencore has improved its systems, the corruption risks in commodity trading and in the mineral sector are incredibly high right now,” she said.

“I think for Glencore’s partners to say these challenges were all in the past ignores that context. It is partially their role to make sure corruption is prevented in the future.”

Source: Mining Weekly

View attachment 10373


View attachment 10372

Glencore - Rotten to the Core

Food for thought

Frank

Ahhh Glencore, nothing like spending a few mill on advertisements during prime time tv to let everyone know your the good guys …

 

[LOCKY82]

An article somebody posted on telegram.

宁王、紫金、华友联手演绎全球最大锂矿争夺战，联手挤掉澳洲上市公司！

宁王、紫金、华友联手演绎全球最大锂矿争夺战，联手挤掉澳洲上市公司！

finance.sina.cn

Ning Wang, Zijin and Huayou teamed up to perform the battle for the world's largest lithium mine, and jointly squeezed out the Australian listed company!

market information
05.2518:26
focus on
Comparable to Infernal Affairs! Ning Wang, Zijin and Huayou teamed up to perform the battle for the world's largest lithium mine, and jointly squeezed out the Australian listed company!

Source: Market Capitalization

Short sellers believe that this may be a story of CATL, Zijin Mining and Huayou Cobalt working together to squeeze an Australian-listed mining company out of the world’s largest lithium mine project.


Open Sina News

Author | Fusu

Edit | Xiaobai

In recent years, the demand for lithium resources has been strong. After realizing that "there is lithium all over the world", many A-share listed companies have deployed the lithium industry.

Recently, Feng Yunjun read a short report on Australian listed lithium mining companies.

Interestingly, Fengyunjun discovered a "business war" involving three Chinese companies, Ningde Times (300750.SZ), Zijin Mining (601899.SH) and Huayou Cobalt (603799.SH). The movie "Infernal Affairs".

The old irons should listen to the fun.


CATL enters the world's largest lithium mine project

AVZ Mining (AVZ.AX, "AVZ") is an Australian-listed lithium mining company that owns control of the Manono lithium mine in the Democratic Republic of the Congo.

The Manono Lithium Mine is one of the largest open-pit mineable lithium-rich LCT (lithium, cesium, tantalum) pegmatite deposits in the world, with a total resource of 401 million tons, containing 1.63% lithium oxide.

The local operating entity of the Manono Lithium Mine is “Dathcom Mining” (“Dathcom”), which holds a mining license issued by the DRC government.

AVZ claims to hold 75% of Dathcom and is the controlling shareholder; the remaining 25% is held by Cominiere (“Cominiere”), a state-owned mining company in the DRC.


Open Sina News
On May 11, AVZ voluntarily suspended trading on the Australian Securities Exchange and has not resumed trading so far.

The reason for AVZ's application for the suspension is that there is a lot of market rumors that it is about to lose control of the Manono lithium mine.

The Manono Lithium Mine was initially held as to 70% by Dathomir Mining Resources (“Dathmir”) and 30% by Cominiere.


Open Sina News
In 2016, AVZ purchased a 60% stake from the original controlling shareholder Dathmir to realize control of the Manono lithium mine.

During this period, Dathmir also acquired a 5% stake from Cominiere.

As a result, the shareholding structure of the Manono Lithium Mine becomes: the controlling shareholder AVZ holds 60%, Cominiere holds 25%, and Dathmir holds 15%.


Open Sina News
Later, AVZ said it bought 5% and 10% of Dathmir in July 2019 and August 2021, respectively, bringing the stake to 75%.

Dathmir subsequently withdrew from the project.


Open Sina News
With the increasing shareholding ratio, AVZ believes that it has achieved "solid" control over the Manono lithium mine.

In May this year, AVZ disclosed to Australian investors that it had previously planned to sell a 24% stake in the Manono Lithium Mine to a private Chinese company, "Suzhou CATH Energy Technologies" ("CATH", "Suzhou Tianhua Times"). completed within the month.


(CATH/Suzhou Tianhua Times, source: Qichacha)

For AVZ, this was a great event.

First, the transaction price is very attractive for AVZ.

AVZ sold its 24% stake to Suzhou Tianhua Times for a price of up to US$240 million. Just less than a year ago, AVZ's consideration for acquiring a 10% stake in Dathmir was only $15.5 million, which is a premium rate of 545%!


In addition, AVZ expects to retain control of the Manono lithium mine after the transaction is completed.

Cominiere, another 25% shareholder of Manono Lithium, is planning to withdraw from the project and transfer 10% of its shares to the Congolese government.

According to AVZ's plan, it intends to use the controlling shareholder's "right of first refusal" to buy the remaining 15% from Cominiere.

According to the plan, the future shareholding structure of the Manono Lithium Mine will become: AVZ holds 66%, Suzhou Tianhua Times holds 24%, and the Congo (DRC) government holds 10%.


(AVZ expects changes in shareholding structure)

And one of the shareholders behind the new buyer, Suzhou Tianhua Times, is CATL, a leading manufacturer in the mid- and downstream lithium industry chain.


(Suzhou Tianhua Times’ shareholding structure, source: Qichacha)


Zijin Mining cuts Hu and directly becomes the third largest shareholder

Things didn't turn out as AVZ expected.

On May 9, Zijin Mining issued a press release stating that it owns a 15% stake in the Manono Lithium Mine.

Newly launched Zijin Mining said that in September 2021, its subsidiary had signed an agreement with Cominier to acquire a 15% stake in the Manono Lithium Mine.

This undermines AVZ's "right of first refusal" program.

According to AVZ's plan, before the transaction with Suzhou Tianhua Times, it already held 75% of the equity; after the sale of 24% of the equity, there is still 51% of the equity, which can still be controlled.

Subsequently, AVZ plans to use the "preemptive right" of the controlling shareholder to purchase a 15% stake in Cominiere, increasing its shareholding ratio from 51% to 66%.

However, Zijin Mining said that after AVZ agreed to sell 24% of its shares to Suzhou Tianhua Times, it has lost its controlling shareholder status, so it is not to mention the "right of first refusal".

Why is this?

Zijin Mining stated in a press release that according to the information it obtained, AVZ’s shareholding in Manono Lithium Mine has always been 60%, and its subsequent acquisition of 15% of the shares from Dathmir has been ruled invalid by the court.

According to court documents, a third (5%) of Dathmir's 15% stake sold to AVZ in 2019-2021 was borrowed from Cominiere in 2018, and Dathmir's sale did not require the lender's consent.

The Congolese (DRC) local court recognized the fact that Cominiere lent the equity, and therefore found that Dathmi's sale of 15% of the equity to AVZ was illegal.

That is to say, at the legal level, AVZ has always held only 60% of the equity of the Manono Lithium Mine.

Cominiere will use 15% of its 30% stake (the original 25% plus the 5% returned by Dathcom) to complete the transaction with Zijin Mining, 10% will be transferred to the DRC government, and 5% will be sold to Another buyer "MMCS".

Therefore, the future shareholding structure of Manono Lithium Mine will become:

AVZ holds 36% of the shares and loses control; Suzhou Tianhua Times holds 24% and is the second largest shareholder; Zijin Mining holds 15% and is the third largest shareholder.


Open Sina News

The "trap" set by the joint layout of the three parties?

In the whole thing, the most unfortunate is undoubtedly AVZ, which lost control of the Manono Lithium Mine.

AVZ has still appealed through the court, asking the court to find that Cominiere has no right to sell the 15% stake to Zijin Mining, and request that it has the right to buy this part of the stake.

But the short seller Boatman Capital ("Short Agency") believes that AVZ's chances of winning the lawsuit are slim.

This is also the reason why short-selling institutions have recently shorted AVZ.

The short-seller believes that the court has ruled that its purchase of a 15% stake in Dathmir is invalid as early as the end of 2021. But AVZ has been hiding the lawsuit from investors in Australia while it appealed, insisting it has a 75% controlling stake in the Manono lithium mine.

Until May 9, Zijin Mining's press release exposed the matter.

Speaking of which, the story of the battle for the stake in the Manono lithium mine is not over yet.

It is worth mentioning that AVZ itself has a relatively scattered shareholding structure and has no controlling shareholder. Among them, there are two “powers” of Chinese companies: Suzhou Group, which holds 7.3% of the shares, a joint venture of Suzhou Tianhua Times; and 6.3% of the shares. Huayou Cobalt.


(AVZ shareholding structure)

Among them, Huayou Cobalt became a shareholder of AVZ in 2017, when AVZ had just obtained 60% control of the Manono Lithium Mine.

Since Huayou Cobalt and Suzhou Group together hold nearly 14% of AVZ's shares, if the two are united, they have the ability to exert influence within AVZ.

In fact, Huayou Cobalt and Suzhou Tianhua Times and Ningde Times behind the Suzhou Group have closely cooperated in the layout of overseas lithium resources.

The short-selling agency said that Zeng Yuqun and Huayou Cobalt, the actual controllers of CATL, also jointly invested in a mining company called "Minicom" in the Democratic Republic of Congo.


At first glance, there are two parties in the battle for equity in the Manono Lithium Mine: Huayou Cobalt and Ningde Times on the one hand, and Zijin Mining on the other.

Huayou Cobalt and Ningde Times jointly hope to use AVZ's control over the Manono lithium mine to expand their lithium resource layout, including facilitating the sale to Suzhou Tianhua Times. However, Zijin Mining's "spoiler" directly caused AVZ to lose control of the project.

However, short-sellers have another view.

On the surface, it seems that AVZ made two wrong decisions: the non-compliant acquisition of Dathmir and the sale of Suzhou Tianhua Times, which led to the loss of control.

Zijin Mining seems to be a "spoiler", but it may be closely related to AVZ's internal Fang Huayou Cobalt and CATL.


Open Sina News
The short-selling agency mentioned that Fang Qixue, vice chairman of Huayou Cobalt, was the executive director of Zijin Mining.

Coincidentally, AVZ originally announced the sale of its stake to Suzhou Tianhua Times in September last year. In the same month, Zijin Mining negotiated with Cominiere to acquire the equity of Manono Lithium Mine.

Zijin Mining chose to reveal the "mystery" this month, which is also a coincidence, and it happened to be the latest time for AVZ to complete the equity sale transaction.

Short-sellers believe that this may be a story of a Chinese company teaming up to push an Australian-listed mining company out of the world's largest lithium mine project.

 

[Bray]

Here i was thinking the Glencore ads were just cause i'm at a mining camp in Capella. Lots of Glencore mines around me

Pretty sure Glencore is tight with old mate Anthony Albanese, something about brown paper bags...

 

[obe wan]

An article somebody posted on telegram.

宁王、紫金、华友联手演绎全球最大锂矿争夺战，联手挤掉澳洲上市公司！

宁王、紫金、华友联手演绎全球最大锂矿争夺战，联手挤掉澳洲上市公司！

finance.sina.cn

Ning Wang, Zijin and Huayou teamed up to perform the battle for the world's largest lithium mine, and jointly squeezed out the Australian listed company!

market information
05.2518:26
focus on
Comparable to Infernal Affairs! Ning Wang, Zijin and Huayou teamed up to perform the battle for the world's largest lithium mine, and jointly squeezed out the Australian listed company!

Source: Market Capitalization

Short sellers believe that this may be a story of CATL, Zijin Mining and Huayou Cobalt working together to squeeze an Australian-listed mining company out of the world’s largest lithium mine project.


Open Sina News

Author | Fusu

Edit | Xiaobai

In recent years, the demand for lithium resources has been strong. After realizing that "there is lithium all over the world", many A-share listed companies have deployed the lithium industry.

Recently, Feng Yunjun read a short report on Australian listed lithium mining companies.

Interestingly, Fengyunjun discovered a "business war" involving three Chinese companies, Ningde Times (300750.SZ), Zijin Mining (601899.SH) and Huayou Cobalt (603799.SH). The movie "Infernal Affairs".

The old irons should listen to the fun.


CATL enters the world's largest lithium mine project

AVZ Mining (AVZ.AX, "AVZ") is an Australian-listed lithium mining company that owns control of the Manono lithium mine in the Democratic Republic of the Congo.

The Manono Lithium Mine is one of the largest open-pit mineable lithium-rich LCT (lithium, cesium, tantalum) pegmatite deposits in the world, with a total resource of 401 million tons, containing 1.63% lithium oxide.

The local operating entity of the Manono Lithium Mine is “Dathcom Mining” (“Dathcom”), which holds a mining license issued by the DRC government.

AVZ claims to hold 75% of Dathcom and is the controlling shareholder; the remaining 25% is held by Cominiere (“Cominiere”), a state-owned mining company in the DRC.


Open Sina News
On May 11, AVZ voluntarily suspended trading on the Australian Securities Exchange and has not resumed trading so far.

The reason for AVZ's application for the suspension is that there is a lot of market rumors that it is about to lose control of the Manono lithium mine.

The Manono Lithium Mine was initially held as to 70% by Dathomir Mining Resources (“Dathmir”) and 30% by Cominiere.


Open Sina News
In 2016, AVZ purchased a 60% stake from the original controlling shareholder Dathmir to realize control of the Manono lithium mine.

During this period, Dathmir also acquired a 5% stake from Cominiere.

As a result, the shareholding structure of the Manono Lithium Mine becomes: the controlling shareholder AVZ holds 60%, Cominiere holds 25%, and Dathmir holds 15%.


Open Sina News
Later, AVZ said it bought 5% and 10% of Dathmir in July 2019 and August 2021, respectively, bringing the stake to 75%.

Dathmir subsequently withdrew from the project.


Open Sina News
With the increasing shareholding ratio, AVZ believes that it has achieved "solid" control over the Manono lithium mine.

In May this year, AVZ disclosed to Australian investors that it had previously planned to sell a 24% stake in the Manono Lithium Mine to a private Chinese company, "Suzhou CATH Energy Technologies" ("CATH", "Suzhou Tianhua Times"). completed within the month.


(CATH/Suzhou Tianhua Times, source: Qichacha)

For AVZ, this was a great event.

First, the transaction price is very attractive for AVZ.

AVZ sold its 24% stake to Suzhou Tianhua Times for a price of up to US$240 million. Just less than a year ago, AVZ's consideration for acquiring a 10% stake in Dathmir was only $15.5 million, which is a premium rate of 545%!


In addition, AVZ expects to retain control of the Manono lithium mine after the transaction is completed.

Cominiere, another 25% shareholder of Manono Lithium, is planning to withdraw from the project and transfer 10% of its shares to the Congolese government.

According to AVZ's plan, it intends to use the controlling shareholder's "right of first refusal" to buy the remaining 15% from Cominiere.

According to the plan, the future shareholding structure of the Manono Lithium Mine will become: AVZ holds 66%, Suzhou Tianhua Times holds 24%, and the Congo (DRC) government holds 10%.


(AVZ expects changes in shareholding structure)

And one of the shareholders behind the new buyer, Suzhou Tianhua Times, is CATL, a leading manufacturer in the mid- and downstream lithium industry chain.


(Suzhou Tianhua Times’ shareholding structure, source: Qichacha)


Zijin Mining cuts Hu and directly becomes the third largest shareholder

Things didn't turn out as AVZ expected.

On May 9, Zijin Mining issued a press release stating that it owns a 15% stake in the Manono Lithium Mine.

Newly launched Zijin Mining said that in September 2021, its subsidiary had signed an agreement with Cominier to acquire a 15% stake in the Manono Lithium Mine.

This undermines AVZ's "right of first refusal" program.

According to AVZ's plan, before the transaction with Suzhou Tianhua Times, it already held 75% of the equity; after the sale of 24% of the equity, there is still 51% of the equity, which can still be controlled.

Subsequently, AVZ plans to use the "preemptive right" of the controlling shareholder to purchase a 15% stake in Cominiere, increasing its shareholding ratio from 51% to 66%.

However, Zijin Mining said that after AVZ agreed to sell 24% of its shares to Suzhou Tianhua Times, it has lost its controlling shareholder status, so it is not to mention the "right of first refusal".

Why is this?

Zijin Mining stated in a press release that according to the information it obtained, AVZ’s shareholding in Manono Lithium Mine has always been 60%, and its subsequent acquisition of 15% of the shares from Dathmir has been ruled invalid by the court.

According to court documents, a third (5%) of Dathmir's 15% stake sold to AVZ in 2019-2021 was borrowed from Cominiere in 2018, and Dathmir's sale did not require the lender's consent.

The Congolese (DRC) local court recognized the fact that Cominiere lent the equity, and therefore found that Dathmi's sale of 15% of the equity to AVZ was illegal.

That is to say, at the legal level, AVZ has always held only 60% of the equity of the Manono Lithium Mine.

Cominiere will use 15% of its 30% stake (the original 25% plus the 5% returned by Dathcom) to complete the transaction with Zijin Mining, 10% will be transferred to the DRC government, and 5% will be sold to Another buyer "MMCS".

Therefore, the future shareholding structure of Manono Lithium Mine will become:

AVZ holds 36% of the shares and loses control; Suzhou Tianhua Times holds 24% and is the second largest shareholder; Zijin Mining holds 15% and is the third largest shareholder.


Open Sina News

The "trap" set by the joint layout of the three parties?

In the whole thing, the most unfortunate is undoubtedly AVZ, which lost control of the Manono Lithium Mine.

AVZ has still appealed through the court, asking the court to find that Cominiere has no right to sell the 15% stake to Zijin Mining, and request that it has the right to buy this part of the stake.

But the short seller Boatman Capital ("Short Agency") believes that AVZ's chances of winning the lawsuit are slim.

This is also the reason why short-selling institutions have recently shorted AVZ.

The short-seller believes that the court has ruled that its purchase of a 15% stake in Dathmir is invalid as early as the end of 2021. But AVZ has been hiding the lawsuit from investors in Australia while it appealed, insisting it has a 75% controlling stake in the Manono lithium mine.

Until May 9, Zijin Mining's press release exposed the matter.

Speaking of which, the story of the battle for the stake in the Manono lithium mine is not over yet.

It is worth mentioning that AVZ itself has a relatively scattered shareholding structure and has no controlling shareholder. Among them, there are two “powers” of Chinese companies: Suzhou Group, which holds 7.3% of the shares, a joint venture of Suzhou Tianhua Times; and 6.3% of the shares. Huayou Cobalt.


(AVZ shareholding structure)

Among them, Huayou Cobalt became a shareholder of AVZ in 2017, when AVZ had just obtained 60% control of the Manono Lithium Mine.

Since Huayou Cobalt and Suzhou Group together hold nearly 14% of AVZ's shares, if the two are united, they have the ability to exert influence within AVZ.

In fact, Huayou Cobalt and Suzhou Tianhua Times and Ningde Times behind the Suzhou Group have closely cooperated in the layout of overseas lithium resources.

The short-selling agency said that Zeng Yuqun and Huayou Cobalt, the actual controllers of CATL, also jointly invested in a mining company called "Minicom" in the Democratic Republic of Congo.


At first glance, there are two parties in the battle for equity in the Manono Lithium Mine: Huayou Cobalt and Ningde Times on the one hand, and Zijin Mining on the other.

Huayou Cobalt and Ningde Times jointly hope to use AVZ's control over the Manono lithium mine to expand their lithium resource layout, including facilitating the sale to Suzhou Tianhua Times. However, Zijin Mining's "spoiler" directly caused AVZ to lose control of the project.

However, short-sellers have another view.

On the surface, it seems that AVZ made two wrong decisions: the non-compliant acquisition of Dathmir and the sale of Suzhou Tianhua Times, which led to the loss of control.

Zijin Mining seems to be a "spoiler", but it may be closely related to AVZ's internal Fang Huayou Cobalt and CATL.


Open Sina News
The short-selling agency mentioned that Fang Qixue, vice chairman of Huayou Cobalt, was the executive director of Zijin Mining.

Coincidentally, AVZ originally announced the sale of its stake to Suzhou Tianhua Times in September last year. In the same month, Zijin Mining negotiated with Cominiere to acquire the equity of Manono Lithium Mine.

Zijin Mining chose to reveal the "mystery" this month, which is also a coincidence, and it happened to be the latest time for AVZ to complete the equity sale transaction.

Short-sellers believe that this may be a story of a Chinese company teaming up to push an Australian-listed mining company out of the world's largest lithium mine project.

And this is why I was eager to see the latest T20…220m AVZ shares held by HUAYOU…just sitting there in the top 20..i wonder If still in T20…there was a hell of a lot of shares passed through on sell; it would have been precision short seller stuff or a bulk seller

 

[Bin59]

And this is why I was eager to see the latest T20…220m AVZ shares held by HUAYOU…just sitting there in the top 20..i wonder If still in T20…there was a hell of a lot of shares passed through on sell; it would have been precision short seller stuff or a bulk seller

Any AVZ shareholder can walk into the registry office in Perth and look at the AVZ T20 - anyone live in Perth?

 

[obe wan]

But Roche Dure is in the bag? Right ?

But Roche Dure is in the bag? Right ?

Id high doubt RD is an issue at all, as they have positioned the current 13359 up to that very last bore collar, so that will switch over to exploitation license, that's a given I would think. The rest of 13359, they are probably working that out which would probably mean that surface rights for 13359 is still a bit of a fat finger shifting number calculator

 

[JasonM]

must be coming close to the 1st with another boatman style article coming out trying to rattle the lth's into selling. it certainly feels dark at the mo but here's hoping for a positive announcement and lifting of the suspension.