AVZ Discussion 2022

[TDITD]

Are NF and the board negotiating with Zijin before the ICC arbitrary arbitration ?

A taxi-driver from Hong Kong was told by an Uber drivers brother who was in Starbucks and overhead someone say that Zijin have made an offer of $1.65, apparently AVZ will not even entertain anything under $2 USD.
Zijin who are tightwads could easily pay this but want to maintain their hard fought reputation of fu*kwits of the highest caliber, this may go down to the wire.

Obviously bollocks, apart from the Zijin bit, they really are fuckwits

 

[Mr Inappropriate]

AVZ made following ASX announcement on 01/06/2022:

Extension of End Date to the Transaction Implementation Agreement

AVZ Minerals Limited (ASX: AVZ, OTCQX: AZZVF) (“AVZ” or “Company”) refers to the Transaction Implementation Agreement (“TIA”) with Suzhou CATH Energy Technologies (“CATH”) as detailed in the Company’s ASX Announcements dated 27 September 2021 “Cornerstone investor secured for development of Manono Lithium and Tin Project” and 16 February 2022 “Expedited completion of US$240M cornerstone investment with CATH”.
The Company confirms that the parties to the TIA have agreed to amend the end date to 31 July 2022 to provide for completion of closure formalities.
The parties are committed to close the TIA as early as practically possible to progress the development of the Manono Lithium and Tin Project.
This announcement was authorised for release by Nigel Ferguson, Managing Director of AVZ Minerals Limited.

In other words, regardless of what has been written, the 24% of Dathcom has not been transferred to anybody and AVZ is still the majority holder as of today.

Which effectively means that the article that Cominiere could sell 15% of Dathcomn to Zijin, because AVZ is not the majority holder of Dathcom, regardless of the shimozzle about the Dathomir 15%, is simply put a lot of cock.

AVZ still has the option to tell CATH and friends to take a hike. Capital raise the $240 million and develop Manono without CATH.

So let’s say that CATH are playing a long and disingenuous game. Let’s say at the final hour they choose not to pay the $240m in the hope that it all turns to shit for AVZ and they can come in and Hoover up the dregs.

From memory one of the conditions of the ML was financial viability. If CATH did not settle the $240m, would it affect the financial viability assessment and therefore the final ML grant?

 

[JasonM]

My mindset is AVZ NFI what they are doing or planning. Incompetent? Perhaps buy some IXR to deaden the loss?

Nigel, SPEAK, now, with your 50m free shares. WTF is going on with your Chinese and DRC mates. What?

Happpy now to just get back $1-1.50 from this shit show of lies, and deceit. No ASX disclosure FFS go figure. Some heads may wel roll b4 this is over?

I certainly feel it as I have a lot of money (for me) tied up in this shit show but lets try to keep calm and let nigel and team work through it. they're our leaders and our outcomes depend on them. their payouts and reputations depend on doing the right thing and I'd argue they have more on the line than many of us although it may not feel like it at the moment.

 

[TDITD]

So let’s say that CATH are playing a long and disingenuous game. Let’s say at the final hour they choose not to pay the $240m in the hope that it all turns to shit for AVZ and they can come in and Hoover up the dregs.

From memory one of the conditions of the ML was financial viability. If CATH did not settle the $240m, would it affect the financial viability assessment and therefore the final ML grant?

IMO nope, the improved BFS still needs to come out and will be incredible. We got DFIs after our debt, Nigel has said before many times we are in advanced talks with DFIs for $400mil, if catl effed off we could raise the catl part of equity via SPP and then we go it alone (yes will take longer). We could rope in others surely in time too, especially once mining. Obviously no catl would be a hit though

 

[Soapy]

Are NF and the board negotiating with Zijin before the ICC arbitrary arbitration ?

A taxi-driver from Hong Kong was told by an Uber drivers brother who was in Starbucks and overhead someone say that Zijin have made an offer of $1.65, apparently AVZ will not even entertain anything under $2 USD.
Zijin who are tightwads could easily pay this but want to maintain their hard fought reputation of fu*kwits of the highest caliber, this may go down to the wire.

Obviously bollocks, apart from the Zijin bit, they really are fuckwits

Are NF and the board negotiating with Zijin before the ICC arbitrary arbitration ?

A taxi-driver from Hong Kong was told by an Uber drivers brother who was in Starbucks and overhead someone say that Zijin have made an offer of $1.65, apparently AVZ will not even entertain anything under $2 USD.
Zijin who are tightwads could easily pay this but want to maintain their hard fought reputation of fu*kwits of the highest caliber, this may go down to the wire.

Obviously bollocks, apart from the Zijin bit, they really are fuckwits

I would imagine if a legitimate binding offer was put on the table it would have been presented to the market.

 

[MoneyBags1348]

anyone read this one? ; fucking hilarious​

Les raisons de la cession des actions de la COMINIERE - Ouragan.cd

<em data-rich-text-format-boundary="true">Le 17 octobre 2016, la COMINIERE et DATHOMIR Sarl avaient conclu un accord de joint-venture pour l’exploitation du permis 12202. Ce permis d’exploitation était devenu un permis de recherche 13359. Et, ce après la réalisation du contrat avec MMCS et la...

ouragan.cd

​

The reasons for the sale of the shares of the COMINIERE​

On October 17, 2016, COMINIERE and DATHOMIR Sarl had entered into a joint venture agreement for the operation of permit 12202. This operating permit had become a 13359 research permit. And this after the completion of the contract with MMCS and the forfeiture of this operating permit. PE 12202 was thus divided into two RPs, including 13689 for discharges and 13359 for the mine. The contract was amended in December 2016.

By Gaby Kuba Bekanga

Published on January 6, 2022 at 15:05:28

Genesis of the file​

COMINIERE AND DATHOMIR have created DATHCOM MINING SA in which each holds 30% and 70% of the shares respectively. In January 2017, the two shareholders decided to sell PR 13359 to DATHCOM SA for operation. On November 20, 2017, COMINIERE, DATHOMIR and AVZ MINERALS signed an agreement under which AVZ MINING acquired 60% of DATHOMIR SARL's shares in DATHCOM MINING SA. AVZ paid $500,000 for this transaction. After this agreement, the share capital of DATHCOM SA was as follows: COMINIERE 25%, AVZ MINERALS 65% and DATHOMIR 10%. The COMINIERE then sold 5% to AVZ to stay with 25%.
Read also:
Calls for tenders for the 16 oil and gas blocks: Budimbu calls on diplomats to interest businessmen in their countries
Five years after the creation of the joint venture, no significant activity on the site. The project remained in a research phase. This is how the COMINIERE was contacted by the Chinese ZIJIN. The latter was looking at the Manono-Kitotolo project, which COMINIERE relied heavily on thanks to a world-class lithium deposit. But, compliance with the clauses by shareholders posed a problem. AVZ obstructed the development of the project with opacity in fundraising operations.
It should be noted that AVZ is a company listed on the Melbourne Stock Exchange. She raised funds in Australia without the knowledge of the COMINIERE. The amount obtained by AVZ and its use did not allow the COMINIERE to verify or understand the assignment. Everything remained mysterious and enigmatic. Nothing has been approved by the board of directors regarding loans and advances made by a shareholder.

Questions that annoy​

The construction project of the Manono camp for workers was overbilled at US$2,000,000, although it does not represent this amount. The subcontracts of US$500,000 were signed without the approval of the partners, a cavalier management in the absence of the COMINIERE agents.
In addition, once the feasibility study was ready, the COMINIERE had to give its favorable opinion for formalities at the Mining Cadastre in order to transform PR 13359 into an EP. In addition, the feasibility study sent to the COMINIERE contains an assertion that makes it inadmissible. In this study, AVZ claims to have recovered the Mpiana Mwanga hydroelectric plant, while it is a heritage of the Congolese state via the COMINIERE. AVZ has signed a memorandum of understanding with the Ministry of Energy for the rehabilitation of the said plant by zapping the owner COMINIERE. Such cheating exposes AVZ to legal proceedings. The COMINIERE requested advances on the dividends but never obtained them.
According to stock market requirements, each phase of the project must be published with the opinion of shareholders. This is what AVZ has never done with PR 13359. The COMINIERE only obtains information about it on social networks. AVZ completely ignores its partner. Are we in a conquered state or facing a raid?
Indeed, the transfer of AVZ's shares to a Chinese group without the approval of the partners is only the confiscation of property belonging to others. The COMINIERE is also shocked to learn that AVZ presented itself without its knowledge as President of the Republic, when it is supposed to defend the interests of the State. Did the Presidency buried its secular arm, the COMINIERE by dealing directly with AVZ?

Justification for the sale of 15% of the shares of COMINIERE, another episode of the film​

On June 14 of this year, the Chinese ZIJIN MINING GROUPE COMPANY Limited approached COMINIERE to acquire part of its shares in DATHCOM SA. The Chinese operator proposed a "reasonable price" and another partnership for the development of the deposits included in PE 12453 and 13247. The minutes of the meeting mention that the COMINIERE sold 15% of its shares in DATHCOM and not 20% initially requested by ZIJIN. The 15% is equivalent to US$33.440,000. On July 21, 2021, AVZ informed other shareholders including AVZ of its willingness to sell its shares to allow them to exercise their right of pre-emption.

Contestation​

AVZ refuted the COMINIERE's approach. By its correspondence CL/098/MMA/08/2021, AVZ accuses the COMINIERE of violating the company's agreements and statutes. He expressed his intention to exercise the right of pre-emption. For the shares offered for sale, he offered USD 1,000,000 per %, or $15,000,000 less than ZIJIN. In the meantime, the RP has not yet been transformed into an EP. In the event of transformation, the State could hold 10% of the share capital in DATHCOM SA.

Demonstration of the legality of the assignment​

The session of the shares is governed by Article 9 of the joint venture contract between COMINIERE and AVZ. This article provides for a free assignment and an assignment to third parties. The first assignment states that: "Any party may freely assign, one, several or all to the other party or to an affiliate, it being understood that, for the affiliates, the shares will be returned to the transferor if the transferee ceases to be an affiliate. The deed of assignment must provide for this retrocession". The second assignment states: "The parties agree that the shares cannot be transferred to third parties between the period between the effective date (included) and the completion of a preliminary feasibility study. Following the expiry of the freeze period, in the event of a transfer of the shares by a shareholder to a third party, the transferor shall grant the other partners the right of pre-emption described in this article."
Read also:
Julien Paluku: "The DRC is the best investment destination today"
The COMINIERE was to notify AVZ of the number of shares for sale, the identity of the buyer and the agreed price. Each partner has 40 days to exercise his right of pre-emption. AVZ therefore has the option to block the transaction. He could decide alone in the board of directors because, the COMINIERE, because of the conflict of interest, cannot participate. She becomes a judge and party. AVZ's offer being lower than ZIJIN, it cannot block otherwise, it abuses its majority. In addition, another shareholder, DATHOMIR, did not object to this transaction.
The refusal by the president to convene the meeting of the board of directors to take note of the operation is an act of abuse of majority. This act gives the COMINIERE the opportunity to go to court because of the damage suffered if the operation is aborted.
Charge against charge, piece against document
AVZ has already sent a letter to ZIJIN with threat. However, the COMINIERE protests against this attitude and plans to seize any likely buyer of AVZ's shares. Reason? Non-compliance with the statutory provisions on the right of pre-emption.
While since September 1, 2021, the Minister of the Portfolio has accepted the sale of the 15% of COMINIERE in DATHCOM. Minister Adèle Kayinda's correspondence supports the transfer. The government approved the decision of the COMINIERE General Assembly. The approach seems irreversible. AVZ intends to go to court to challenge the transaction. He claims that he was not contacted, although correspondence was sent to him regarding ZIJIN's offer and the convening of DATHCOM's general assembly. Fake runaway? Liar poker?
The COMINIERE recently learned with amazement that AVZ International PTY Ltd has concluded a transaction implementation agreement (TIA) with the Chinese SUZHOU CATH ENERGY TECHNOLOGIES. The COMINIERE will soon go to court against this illegal session.
Unlike AVZ's illegal transactions, the COMINIERE followed the procedure. It respected the right of pre-emption of all shareholders. She waited for the statutory deadline of 40 calendar days. It applied Article 17 of the Law laying down general provisions on the disengagement of the State from Portfolio companies. This law strongly recommends the best offer from all candidates. On this point, there is therefore no match between AVZ and ZIJIN.

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Our tags​

POLICYCENIEXPO DUBAIWOMANELECTIONWAR

Thanks Obe, I was hoping to have an easy day tomorrow, but looks like a few of us should be saving these bullshit articles and running a highlighter over the various claims. Doesn’t take much to spot the lies, the most obvious that Cominiere have only recently learned about the CATH deal. The whole time they claim all this bullshit was going on, they said nothing. I’m glad the arbitration is not in the DRC, but not glad about having to spend my time going over all the bullshit these arseholes are coming out with. Hope a few here are keeping Nigel updated on these articles (in case he hasn’t seen them yet) and he’s keeping the layers updated, some of this shit is laughable but you don’t want the facts getting lost in the mix these arseholes are trying to cook up. By the way CATH, thanks for doing nothing, now highly suspect you are in on this!

 

[EarleofBarrow]

Everybody just need to take a breath.As frustrating as the current situation is,this has been AVZ since the start.
Ive been here since Aug 2017 and we have seen many a shit show,from Ninja to Klaus,from Kikker to Zinjin.
Just let it unfold.Have faith in Nigel and the BOD.
Yes its fucking frustrating at times !
At the end of the day what choice do we have
If we get screwed ( which I've never thought we will) we will all live on to fight another day.
Hang tough.....

 

[CHB]

Are NF and the board negotiating with Zijin before the ICC arbitrary arbitration ?

A taxi-driver from Hong Kong was told by an Uber drivers brother who was in Starbucks and overhead someone say that Zijin have made an offer of $1.65, apparently AVZ will not even entertain anything under $2 USD.
Zijin who are tightwads could easily pay this but want to maintain their hard fought reputation of fu*kwits of the highest caliber, this may go down to the wire.

Obviously bollocks, apart from the Zijin bit, they really are fuckwits

So zijin claims are ludicrous yet we may consider selling to them before ICC arbitration??

 

[Misfits]

Maybe, but remember they never invested 1 cent in AVZ. They all free loaded at each AGM. Nigel has gifted himself 50M shares. Other BOD have millions too, but you never hear shit from them.

I paid a few 100 thousand $ for 3M shares of real after tax earnings, just saying..

Nigel, never bought a share from his exorbitant AVZ salary.

That shows faith, doesn’t it????

That’s incorrect, he has purchased shares. As well as gifted.

 

[TDITD]

Everybody just need to take a breath.As frustrating as the current situation is,this has been AVZ since the start.
Ive been here since Aug 2017 and we have seen many a shit show,from Ninja to Klaus,from Kikker to Zinjin.
Just let it unfold.Have faith in Nigel and the BOD.
Yes its fucking frustrating at times !
At the end of the day what choice do we have
If we get screwed ( which I've never thought we will) we will all live on to fight another day.
Hang tough.....

Yes true, AVZ has been a bastard child from the start.
Like you say we have no choice now but to have faith, not just in the board but also the DRC government.
This is the biggest lithium hard rock deposit out there, it’s highly coveted. The board have got us this far and through many scrapes, this will just be another one.

 

[Frank]

Confucius said: “keep thowing mud and sooner or later some/ most will stick”.

Nigel, AVZ & silent BOD, isn’t it time to stand up?

DRC government, plus Felix?, isn’t it time to stand up? Or are you undermining your elected President?

China, Z, isn’t it time to stand down? Or are you hell bent on destroying Australia/ AVZ?

CAT, isn’t it timer to disown your counterpart & Z or move away from AVZ All together ?

Biden, USA, Europe - are you just going to keep zipped on the sidelines while professing to be in the need to get into the Li battery supply chain?
Ditto Tesla, Bosch, LG etc ffs, opportunity of a lifetime and all you giant non-Chinese players remain SILENT!

you guys are not dills, we must be though, maybe . This will go off South or North at a rapid rate of Knots imo

*Fyi, Re:- EU, I see where,

Plug-in electric cars in Europe on track for one in four cars sold​

For the 11th consecutive month, the registration of new plug-in electric passenger cars across Western Europe continued to account for over 20% of the total market.

The new data in from Schmidt Automotive Research means Europe is on track to finish 2022 with an EV market share above 25%, counting full battery electric vehicles (BEV) and plug-in hybrid electric vehicle (PHEV).

According to Schmidt Automotive, a “pull-forward in sales is potentially inflating the German plug-in market this year” which accounts for 28% of the total West European plug-in market, due to the fact that purchase subsidies are expected to be cut in 2023.

Expected demand for plug-in passenger cars is expected to hold strong through the remainder of 2022 thanks to a significant backlog of orders for many of the major carmakers.

Volkswagen says it has an order backlog of 300,000 BEVs for the West European region and is gearing up for a significant push during the second half of the year once the company’s Hanover and Emden plants begin to ease the pressure on orders for the ID.Buzz and ID.4.

Similarly, BMW Group is also ramping up production of its i4 in Munich while Tesla, despite a slow ramp-up at its new German factory, is expected to slowly increase production volumes for the region as OEMs again seek to meet EU CO2 fleet average emissions targets.

The Driven

The Driven is Australia’s most-read electric vehicle news site, covering the latest EV stories both in Australia and overseas.

thedriven.io

EU nears combustion car era’s end as Italy may drop opposition​

The end of the combustion engine era is getting closer in the European Union after Italy signaled it may accept a compromise deal to phase out new cars running on fossil fuels by the middle of the next decade.

Italy, home to Ferrari NV and Lamborghini, indicated during a meeting of energy ministers on Tuesday it may give up its push for a five-year delay in the EU’s plan for automakers to eliminate greenhouse gases from the vehicles they sell.

Energy Minister Roberto Cingolani said he was “satisfied” with a compromise proposed by Germany that could enable the use of green fuels after 2035.

“This goes in the direction that we hope,” Cingolani told his counterparts.

That would pave the way for France, the current holder of the EU’s rotating presidency, to push through a deal on new car emissions standards and other green laws in a sweeping climate and energy overhaul.

The package also includes a contentious proposal to reduce a flagship fund to help the shift to a green economy and a sweeping reform of the region’s carbon market.

If backed by a weighted majority of member states, the deal would endorse proposals put forward almost a year ago by the European Commission, the EU’s executive arm, to implement a stricter emissions-reduction goal of at least 55% by 2030 from 1990 levels.

They included a plan to effectively phase out combustion engines in new cars by 2035, a target France recommended governments approve.

An agreement among ministers would define member states’ negotiating stance for further talks with the EU Parliament and the European Commission on the final shape of the so-called Fit for 55 package.

As members of the assembly agreed earlier this month to eliminate new car emissions, Europe is set to write into law ending a mode of transport that has dominated society for more than a century.

Italy, alongside Bulgaria, Slovakia, Portugal and Romania, was seeking a 90% reduction in carmakers’ emissions by 2035, the year that the European Commission has targeted a complete cut.

It also wanted to secure an extension of exemption for niche manufacturers, such as Ferrari, until at least 2036 from 2029 proposed by the commission.

The country has been particularly concerned with the push to decarbonize road transport, with it lagging some of its European peers and also boasting a strong supercar industry.

While Ferrari now plans to have its first fully electric vehicle hit showrooms in three years, it will be late to the party — Porsche started selling its battery-powered Taycan model in 2019.

In an attempt to enable a compromise, Germany proposed adding in a non-binding part of the car emissions law a call on the commission to propose registering after 2035 vehicles running exclusively on carbon-neutral fuels.

The addition is important to Germany and can be a bridge for the overall discussion, said Environment Minister Steffi Lemke.

“We need a strong and fast CO2 reduction, but we need to keep openness on technologies,” she told the ministers.

“We hope that this addition, which is important to the German government, hopefully this is agreeable and which can enable us to reach a joint acceptable solution.”

Ministers will resume talks around 3:30 p.m. in Luxembourg after France shares amended proposals to address their concerns on car emissions and other laws.

www.mining.com/category/battery-metals/

BMW-backed Northvolt advances on $12 billion battery IPO plan​

Sweden’s Northvolt AB, whose customers include BMW AG and Volkswagen AG, is planning to go public within the next two years as battery demand for electric vehicles booms.

The firm is “well positioned” for an initial public offering, founder and Chairman Carl-Erik Lagercrantz said in an interview.

The venture, which has been valued at around $12 billion after raising some $6.5 billion through debt and equity, is part of a trio of green technology startups spearheaded by Lagercrantz and private equity veteran Harald Mix.

“We have commitments in relation to deliveries from our customers — that plays a major role in a market that is more difficult,” Lagercrantz said.

A listing during the next two years is a “reasonable” expectation even as the company has “no need from a funding perspective.”

Lagercrantz, 57, initiated the push in 2016 to establish a battery industry in northern Sweden.

Northvolt’s access to renewable power and smaller CO2 footprint is key in differentiating the company from Asian giants like China’s Contemporary Amperex Technology, Japan’s Panasonic, and LG Chem from South Korea.

In May, the company became the first European firm to start commercial shipments to an automaker from the Northvolt Ett plant in Skelleftea.

While Ett is still scaling up, the manufacturer is also planning a new plant in Gothenburg to supply Volvo Car AB and Polestar.

A third factory in northern Germany dubbed “Northvolt Drei” is scheduled for 2025.

This is set to boost Northvolt’s overall battery-cell manufacturing to over 170 gigawatt-hours, among the biggest in Europe.

www.mining.com/category/battery-metals/

Food for thought on the Road to Manono

 

[CashKing]

anyone read this one? ; fucking hilarious​

Les raisons de la cession des actions de la COMINIERE - Ouragan.cd

<em data-rich-text-format-boundary="true">Le 17 octobre 2016, la COMINIERE et DATHOMIR Sarl avaient conclu un accord de joint-venture pour l’exploitation du permis 12202. Ce permis d’exploitation était devenu un permis de recherche 13359. Et, ce après la réalisation du contrat avec MMCS et la...

ouragan.cd

​

The reasons for the sale of the shares of the COMINIERE​

On October 17, 2016, COMINIERE and DATHOMIR Sarl had entered into a joint venture agreement for the operation of permit 12202. This operating permit had become a 13359 research permit. And this after the completion of the contract with MMCS and the forfeiture of this operating permit. PE 12202 was thus divided into two RPs, including 13689 for discharges and 13359 for the mine. The contract was amended in December 2016.

By Gaby Kuba Bekanga

Published on January 6, 2022 at 15:05:28

Genesis of the file​

COMINIERE AND DATHOMIR have created DATHCOM MINING SA in which each holds 30% and 70% of the shares respectively. In January 2017, the two shareholders decided to sell PR 13359 to DATHCOM SA for operation. On November 20, 2017, COMINIERE, DATHOMIR and AVZ MINERALS signed an agreement under which AVZ MINING acquired 60% of DATHOMIR SARL's shares in DATHCOM MINING SA. AVZ paid $500,000 for this transaction. After this agreement, the share capital of DATHCOM SA was as follows: COMINIERE 25%, AVZ MINERALS 65% and DATHOMIR 10%. The COMINIERE then sold 5% to AVZ to stay with 25%.
Read also:
Calls for tenders for the 16 oil and gas blocks: Budimbu calls on diplomats to interest businessmen in their countries
Five years after the creation of the joint venture, no significant activity on the site. The project remained in a research phase. This is how the COMINIERE was contacted by the Chinese ZIJIN. The latter was looking at the Manono-Kitotolo project, which COMINIERE relied heavily on thanks to a world-class lithium deposit. But, compliance with the clauses by shareholders posed a problem. AVZ obstructed the development of the project with opacity in fundraising operations.
It should be noted that AVZ is a company listed on the Melbourne Stock Exchange. She raised funds in Australia without the knowledge of the COMINIERE. The amount obtained by AVZ and its use did not allow the COMINIERE to verify or understand the assignment. Everything remained mysterious and enigmatic. Nothing has been approved by the board of directors regarding loans and advances made by a shareholder.

Questions that annoy​

The construction project of the Manono camp for workers was overbilled at US$2,000,000, although it does not represent this amount. The subcontracts of US$500,000 were signed without the approval of the partners, a cavalier management in the absence of the COMINIERE agents.
In addition, once the feasibility study was ready, the COMINIERE had to give its favorable opinion for formalities at the Mining Cadastre in order to transform PR 13359 into an EP. In addition, the feasibility study sent to the COMINIERE contains an assertion that makes it inadmissible. In this study, AVZ claims to have recovered the Mpiana Mwanga hydroelectric plant, while it is a heritage of the Congolese state via the COMINIERE. AVZ has signed a memorandum of understanding with the Ministry of Energy for the rehabilitation of the said plant by zapping the owner COMINIERE. Such cheating exposes AVZ to legal proceedings. The COMINIERE requested advances on the dividends but never obtained them.
According to stock market requirements, each phase of the project must be published with the opinion of shareholders. This is what AVZ has never done with PR 13359. The COMINIERE only obtains information about it on social networks. AVZ completely ignores its partner. Are we in a conquered state or facing a raid?
Indeed, the transfer of AVZ's shares to a Chinese group without the approval of the partners is only the confiscation of property belonging to others. The COMINIERE is also shocked to learn that AVZ presented itself without its knowledge as President of the Republic, when it is supposed to defend the interests of the State. Did the Presidency buried its secular arm, the COMINIERE by dealing directly with AVZ?

Justification for the sale of 15% of the shares of COMINIERE, another episode of the film​

On June 14 of this year, the Chinese ZIJIN MINING GROUPE COMPANY Limited approached COMINIERE to acquire part of its shares in DATHCOM SA. The Chinese operator proposed a "reasonable price" and another partnership for the development of the deposits included in PE 12453 and 13247. The minutes of the meeting mention that the COMINIERE sold 15% of its shares in DATHCOM and not 20% initially requested by ZIJIN. The 15% is equivalent to US$33.440,000. On July 21, 2021, AVZ informed other shareholders including AVZ of its willingness to sell its shares to allow them to exercise their right of pre-emption.

Contestation​

AVZ refuted the COMINIERE's approach. By its correspondence CL/098/MMA/08/2021, AVZ accuses the COMINIERE of violating the company's agreements and statutes. He expressed his intention to exercise the right of pre-emption. For the shares offered for sale, he offered USD 1,000,000 per %, or $15,000,000 less than ZIJIN. In the meantime, the RP has not yet been transformed into an EP. In the event of transformation, the State could hold 10% of the share capital in DATHCOM SA.

Demonstration of the legality of the assignment​

The session of the shares is governed by Article 9 of the joint venture contract between COMINIERE and AVZ. This article provides for a free assignment and an assignment to third parties. The first assignment states that: "Any party may freely assign, one, several or all to the other party or to an affiliate, it being understood that, for the affiliates, the shares will be returned to the transferor if the transferee ceases to be an affiliate. The deed of assignment must provide for this retrocession". The second assignment states: "The parties agree that the shares cannot be transferred to third parties between the period between the effective date (included) and the completion of a preliminary feasibility study. Following the expiry of the freeze period, in the event of a transfer of the shares by a shareholder to a third party, the transferor shall grant the other partners the right of pre-emption described in this article."
Read also:
Julien Paluku: "The DRC is the best investment destination today"
The COMINIERE was to notify AVZ of the number of shares for sale, the identity of the buyer and the agreed price. Each partner has 40 days to exercise his right of pre-emption. AVZ therefore has the option to block the transaction. He could decide alone in the board of directors because, the COMINIERE, because of the conflict of interest, cannot participate. She becomes a judge and party. AVZ's offer being lower than ZIJIN, it cannot block otherwise, it abuses its majority. In addition, another shareholder, DATHOMIR, did not object to this transaction.
The refusal by the president to convene the meeting of the board of directors to take note of the operation is an act of abuse of majority. This act gives the COMINIERE the opportunity to go to court because of the damage suffered if the operation is aborted.
Charge against charge, piece against document
AVZ has already sent a letter to ZIJIN with threat. However, the COMINIERE protests against this attitude and plans to seize any likely buyer of AVZ's shares. Reason? Non-compliance with the statutory provisions on the right of pre-emption.
While since September 1, 2021, the Minister of the Portfolio has accepted the sale of the 15% of COMINIERE in DATHCOM. Minister Adèle Kayinda's correspondence supports the transfer. The government approved the decision of the COMINIERE General Assembly. The approach seems irreversible. AVZ intends to go to court to challenge the transaction. He claims that he was not contacted, although correspondence was sent to him regarding ZIJIN's offer and the convening of DATHCOM's general assembly. Fake runaway? Liar poker?
The COMINIERE recently learned with amazement that AVZ International PTY Ltd has concluded a transaction implementation agreement (TIA) with the Chinese SUZHOU CATH ENERGY TECHNOLOGIES. The COMINIERE will soon go to court against this illegal session.
Unlike AVZ's illegal transactions, the COMINIERE followed the procedure. It respected the right of pre-emption of all shareholders. She waited for the statutory deadline of 40 calendar days. It applied Article 17 of the Law laying down general provisions on the disengagement of the State from Portfolio companies. This law strongly recommends the best offer from all candidates. On this point, there is therefore no match between AVZ and ZIJIN.

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POLICYCENIEXPO DUBAIWOMANELECTIONWAR

Ahhh Chinese whispers…

FFS the media is sooooo wrong…

 

[Samus]

The cocksucker is at it again in the lead-up to Friday.

 

[Ozthescot]

The cocksucker is at it again in the lead-up to Friday.

Expected nothing less from these dirtbags! As usual right on cue!

 

[Pokok]

The cocksucker is at it again in the lead-up to Friday.

stripped of what licence ,, these people should be hunted down

 

[obe wan]

stripped of what licence ,, these people should be hunted down

Ye boatmancapital ; ‘Boatman Capital is a corporate finance advisory firm’ surely those guys repeatedly posting such articles which are clearly incorrect in even basic content , would be leaving their door ajar for negligence

 

[Bin59]

Ye boatmancapital ; ‘Boatman Capital is a corporate finance advisory firm’ surely those guys repeatedly posting such articles which are clearly incorrect in even basic content , would be leaving their door ajar for negligence

Keep up the good work Obe Wan -

 

[MoneyBags1348]

Ye boatmancapital ; ‘Boatman Capital is a corporate finance advisory firm’ surely those guys repeatedly posting such articles which are clearly incorrect in even basic content , would be leaving their door ajar for negligence

I used to teach a bit of law Obe, but only at TAFE level here in Aus and certainly not a level where I have any sort of expertise or qualifications, but I know even simple things like negligence in business and contract law are hard to prosecute against any firm. What I think wouldn’t be too hard is if all us shareholders got together and went through all AVZ’s ASX announcements and all the boatman type articles and showed the discrepancies in them are tried to draw attention to their sources (which are probably Zigin and Cominiere). Our lawyer’s probably have enough to do and there are more of us and many hands make the job easier. Sometimes shareholders think there is nothing they can do, but that’s wrong, we as shareholders should band together in what ever way we can and even though we don’t get paid, it’s our money involved and if we were actually concerned about our money we would be doing more than just making comments here. We should use this forum to try and organise our own methods to help…. Little ideas like putting the discrepancies together and when that’s done, everyone can email them off to whoever…. All financial and other media institutions, government officials (even throw in their the French Justice Minister seeing how the arbitration is in France, and remind him of our new commitment to our relationship and compensation to the submarine building company following our last govt’s balls up). Shareholders thinking there’s nothing they can do is only copping out, we can all do something. I don’t do twitter so I don’t know about The Geist (or whoever) but his scathing review of financial reviews Tom was second to none if if that sort of research and reporting could be contributed all the better to help our lawyers. Even little discrepancies like yesterday’s article saying Cominiere just learned of the CATH deal, when previously it was reported that they waited until after the CATH deal to sell Zigin their equity and before that saying AVZ tried to block them selling it shows discrepancies. If shareholders got organised instead of panicking, posting irrelevant comments and jokes (to ease the stress) and pulled together in an organised way it would make a difference, simply by cause and effect. I’m actually hoping you might get the ball rolling because I know you have your finger on the pulse!!

 

[Bin59]

Personally I’d rather see a statement released by the AVZ legals in the DRC discrediting the recent false & misleading statements by journalists, Boatman & others (Zijin) as an authoritative and immediate way of addressing the false news.

To assist, concerned shareholders could collate a sample of the misleading articles / content being posted by Boatman, journalists and others and send it to them. If they choose to act, it probably wouldn’t take them very long to put something together (maybe a job for the company Secretary to coordinate).

On the other hand, they may prefer to let the system work and to wait until arbitration is over.

 

[Dazmac66]

I used to teach a bit of law Obe, but only at TAFE level here in Aus and certainly not a level where I have any sort of expertise or qualifications, but I know even simple things like negligence in business and contract law are hard to prosecute against any firm. What I think wouldn’t be too hard is if all us shareholders got together and went through all AVZ’s ASX announcements and all the boatman type articles and showed the discrepancies in them are tried to draw attention to their sources (which are probably Zigin and Cominiere). Our lawyer’s probably have enough to do and there are more of us and many hands make the job easier. Sometimes shareholders think there is nothing they can do, but that’s wrong, we as shareholders should band together in what ever way we can and even though we don’t get paid, it’s our money involved and if we were actually concerned about our money we would be doing more than just making comments here. We should use this forum to try and organise our own methods to help…. Little ideas like putting the discrepancies together and when that’s done, everyone can email them off to whoever…. All financial and other media institutions, government officials (even throw in their the French Justice Minister seeing how the arbitration is in France, and remind him of our new commitment to our relationship and compensation to the submarine building company following our last govt’s balls up). Shareholders thinking there’s nothing they can do is only copping out, we can all do something. I don’t do twitter so I don’t know about The Geist (or whoever) but his scathing review of financial reviews Tom was second to none if if that sort of research and reporting could be contributed all the better to help our lawyers. Even little discrepancies like yesterday’s article saying Cominiere just learned of the CATH deal, when previously it was reported that they waited until after the CATH deal to sell Zigin their equity and before that saying AVZ tried to block them selling it shows discrepancies. If shareholders got organised instead of panicking, posting irrelevant comments and jokes (to ease the stress) and pulled together in an organised way it would make a difference, simply by cause and effect. I’m actually hoping you might get the ball rolling because I know you have your finger on the pulse!!

Bombarding the AFR with emails to publish a comprehensive, factually correct article would be a good starting point. Obviously not addressed to old mate as that could be a dead end.