AVZ Discussion 2022
- Thread starter GazDix
- Start date
Excuse my anger, but is it really that hard for AVZ, AVZI, Com, Dath and the DRC to just front up with an official statement and say why the bloody hell the mining license is being held up still? Come on!
There's that much bullshit floating around on twitter, hotshitter, facebook and telegram it's not even remotely funny. Just issue a bloody 1 page document and say 5 dot points and be done with it. Who gives a flying fart what the issue is, just stop treating us like mushroom people!
I've got bloody 4 million shares sitting there in no mans land why all these cock gobblers piss around going back and forth with fluffy innuendo baseless announcements. FFS, lets mine this stuff out the ground and stop pissing about looking who to blame for cocking up some paperwork.
There's that much bullshit floating around on twitter, hotshitter, facebook and telegram it's not even remotely funny. Just issue a bloody 1 page document and say 5 dot points and be done with it. Who gives a flying fart what the issue is, just stop treating us like mushroom people!
I've got bloody 4 million shares sitting there in no mans land why all these cock gobblers piss around going back and forth with fluffy innuendo baseless announcements. FFS, lets mine this stuff out the ground and stop pissing about looking who to blame for cocking up some paperwork.
Frank
Top 20
*Speaking of "Days of our DRC Lives" - "Snacks & Snakes Alive", I see where,
Congo Hold-up: legal repercussions in France, Switzerland and Belgium
Based on the analysis of millions of leaked bank documents and financial transactions, the vast international Congo hold-up investigation revealed last December the names of those who allegedly participated in the embezzlement of the DRC's wealth.
French, Belgian and Swiss courts have since opened investigations.
In Belgium, the investigation for “corruption” targets businessman Philippe de Moerloose.
This is one of the 100 largest fortunes in Belgium and runs the companies SDA Holding and African Equities, specializing in the distribution of agricultural equipment and public works.
Philippe de Moerloose is said to have overcharged equipment, for a total amount of 740 million dollars to the DRC of the then president Joseph Kabila.
On June 14, Belgian anti-corruption officers raided three private homes of the wealthy businessman, as well as three of his companies.
The name of the Belgian businessman has also been mentioned in Switzerland.
Three NGOs have lodged a criminal complaint with the Federal Public Prosecutor's Office.
According to the revelations of Congo Hold-up, Philippe de Moerloose would have received 19 million dollars of dubious origin on his accounts in Zurich and Geneva opened in the Swiss bank UBS.
The latter is suspected of being involved in the laundering of Congolese public funds embezzled by the clan of Joseph Kabila.
The French national financial prosecutor's office has opened an investigation into flows deemed "suspicious" between the subsidiaries of the Congolese bank BGFI and France.
In addition, two whistleblowers and former BGFI employees, Jean-Jacques Lumumba and Guylain Luwere, have obtained the right to sue the Congolese bank in France.
Both men were allegedly intimidated after reporting illegal activities within the BGFI in 2016.
Food for thought
Frank
Spikerama
Regular
Hard to tell from this angle but I think those ribs are definitely smokin'
Samus
Top 20
Sort of off topic (but not really) I found this little story strangely entertaining in light of what were going through. Starts right at the bottom:
A traffic police officer talks to his colleagues in Kinshasa, DRC, 6 July 2022 -
The scene is common in the buzzing capital of the Democratic Republic of Congo (DRC), where police officers frequently shake down citizens to supplement their meagre salaries. Unlike some of her less scrupulous colleagues, Cécile Bakindo did not ask for money. The driver stopped to thank her.
"They love me a lot," says the woman who prefers not to say her age and wears a beret, white gloves and a fluorescent orange waistcoat over her navy uniform. "They give me lots of presents.
Known as "roulages", traffic wardens in the megacity of some 15 million people have a reputation for corruption. It is not uncommon to see them getting into a car and grabbing the ignition key in the hope of extracting money, or ripping off the number plate on the pretext of often made-up offences.
Policemen of integrity
Users are so fed up with this type of behaviour that police officers of integrity quickly become institutions in their eyes, which must be encouraged and rewarded. Officiating from an elevated platform in the middle of a busy intersection, Cecile Bakindo smiles as she channels swarms of motorbikes and beat-up public transport vehicles dubbed "spirits of death".
A driver slows down to give her some money. "She's really great," says Patient Kanuf, a 32-year-old motorbike taxi driver, buying fuel near the crossroads. "She has a heart of love," he says.
At another crossroads in the city centre, a police captain, dark glasses, tall stature and soft voice, has also become a local celebrity, known for being incorruptible.
Jean-Pierre Beya, 64, has been policing the same intersection for about 15 years, he says, also smiling cordially at drivers weaving in and out of the late afternoon traffic. If one of them enters the intersection dangerously, he or she gets a scolding.
According to Isaac Woto, 45, a taxi driver, Jean-Pierre Beya and Cécile Bakindo are known throughout Kinshasa. "They are serious," he says, while "the others are just looking for money.
Endemic corruption
Corruption is endemic in the DRC, which ranks 169th out of 180 countries in the NGO Transparency International's corruption index. According to a study by researchers from the Universities of Chicago and Antwerp and the Catholic University of Congo, bribes account for about 80% of the income of traffic police in Kinshasa.
Harassment of drivers is the cause of almost all fender-benders at junctions and 65% of traffic jams, according to the study. In 2015, each police station reportedly collected an average of US$12,120 in baksheesh per month.
The sums are significant in a country where nearly three-quarters of the 90 million inhabitants live below the poverty line and where police officers at the bottom of the ladder, according to Jean-Pierre Beya, earn about $100 a month.
Police harassment
Interviewed on a Kinshasa street, a traffic policewoman, who asked to remain anonymous, denied that soliciting bribes was a habit. But she says that senior police officers and politicians allow themselves to drive dangerously with impunity.
Captain Beya, on the other hand, does not believe that poverty is the cause of police harassment. "We all get the same salary. The problem is the mentality," he says, while taking a break in the shade. He says he was trained to "live with the people and stay with them". "I work for the Republic".
Local residents appreciate Jean-Pierre Beya, offer him tips and greet him as he passes. "This is not corruption," says the policeman, claiming that the gifts do not change his impartiality. "If you do things with respect and courtesy, you'll get something out of it," he says simply.
www.africanews.com
DRC: Drivers in Kinshasa reward honest police officers
A traffic police officer talks to his colleagues in Kinshasa, DRC, 6 July 2022 -
DEMOCRATIC REPUBLIC OF CONGO
At dawn, in a working-class neighbourhood of Kinshasa, a driver stops and hands a handful of small bills to the traffic warden.The scene is common in the buzzing capital of the Democratic Republic of Congo (DRC), where police officers frequently shake down citizens to supplement their meagre salaries. Unlike some of her less scrupulous colleagues, Cécile Bakindo did not ask for money. The driver stopped to thank her.
"They love me a lot," says the woman who prefers not to say her age and wears a beret, white gloves and a fluorescent orange waistcoat over her navy uniform. "They give me lots of presents.
Known as "roulages", traffic wardens in the megacity of some 15 million people have a reputation for corruption. It is not uncommon to see them getting into a car and grabbing the ignition key in the hope of extracting money, or ripping off the number plate on the pretext of often made-up offences.
Policemen of integrity
Users are so fed up with this type of behaviour that police officers of integrity quickly become institutions in their eyes, which must be encouraged and rewarded. Officiating from an elevated platform in the middle of a busy intersection, Cecile Bakindo smiles as she channels swarms of motorbikes and beat-up public transport vehicles dubbed "spirits of death".
A driver slows down to give her some money. "She's really great," says Patient Kanuf, a 32-year-old motorbike taxi driver, buying fuel near the crossroads. "She has a heart of love," he says.
At another crossroads in the city centre, a police captain, dark glasses, tall stature and soft voice, has also become a local celebrity, known for being incorruptible.
Jean-Pierre Beya, 64, has been policing the same intersection for about 15 years, he says, also smiling cordially at drivers weaving in and out of the late afternoon traffic. If one of them enters the intersection dangerously, he or she gets a scolding.
According to Isaac Woto, 45, a taxi driver, Jean-Pierre Beya and Cécile Bakindo are known throughout Kinshasa. "They are serious," he says, while "the others are just looking for money.
Endemic corruption
Corruption is endemic in the DRC, which ranks 169th out of 180 countries in the NGO Transparency International's corruption index. According to a study by researchers from the Universities of Chicago and Antwerp and the Catholic University of Congo, bribes account for about 80% of the income of traffic police in Kinshasa.
Harassment of drivers is the cause of almost all fender-benders at junctions and 65% of traffic jams, according to the study. In 2015, each police station reportedly collected an average of US$12,120 in baksheesh per month.
The sums are significant in a country where nearly three-quarters of the 90 million inhabitants live below the poverty line and where police officers at the bottom of the ladder, according to Jean-Pierre Beya, earn about $100 a month.
Police harassment
Interviewed on a Kinshasa street, a traffic policewoman, who asked to remain anonymous, denied that soliciting bribes was a habit. But she says that senior police officers and politicians allow themselves to drive dangerously with impunity.
Captain Beya, on the other hand, does not believe that poverty is the cause of police harassment. "We all get the same salary. The problem is the mentality," he says, while taking a break in the shade. He says he was trained to "live with the people and stay with them". "I work for the Republic".
Local residents appreciate Jean-Pierre Beya, offer him tips and greet him as he passes. "This is not corruption," says the policeman, claiming that the gifts do not change his impartiality. "If you do things with respect and courtesy, you'll get something out of it," he says simply.
DRC: Drivers in Kinshasa reward honest police officers | Africanews
"They love me a lot," says the woman who prefers not to say her age and wears a beret, white gloves and a fluorescent orange waistcoat over her navy uniform. "They give me lots of presents.
Bin59
Regular
Good news … Felix is taking steps to effect change and improve the legal system at the grassroots level.
“3,000 magistrates will be recruited next month and about forty will be dismissed for compromising themselves.
A window of hope in the improvement of the judicial system, we cross our fingers.
Thank you to the Supreme Magistrate @fatshi13 who listened to our claims for sanction.”
“3,000 magistrates will be recruited next month and about forty will be dismissed for compromising themselves.
A window of hope in the improvement of the judicial system, we cross our fingers.
Thank you to the Supreme Magistrate @fatshi13 who listened to our claims for sanction.”
Frank
Top 20
*Fyi, fwiw, Apologies if already posted, but did you see where,
RDC/Projet étain et lithium de Manono : "Aucun membre la famille de Joseph Kabila n'est actionnaire dans AVZ", Marius Mihigo (Démenti)
À Election-net, nous sommes fiers de fournir des informations précises, opportunes et impartiales sur tous les événements en RDC et au-delà
election--net-com.translate.goog
Sammy_da_Smile
Regular
Don't recall seeing any rumours about Kabila and AVZ, but must have been floating around the locals?*Fyi, fwiw, Apologies if already posted, but did you see where,
RDC/Projet étain et lithium de Manono : "Aucun membre la famille de Joseph Kabila n'est actionnaire dans AVZ", Marius Mihigo (Démenti)
À Election-net, nous sommes fiers de fournir des informations précises, opportunes et impartiales sur tous les événements en RDC et au-delà
AVZ Minerals ‘confident’ despite Manono dispute remaining unresolved
Stuart McKinnonThe West Australian
Fri, 15 July 2022 10:40AM
Stuart McKinnon
AVZ Minerals says it is confident of a positive outcome in the dispute over its Manono lithium project in the Democratic Republic of Congo, despite the company extending the suspension of its shares.
The Nigel Ferguson-led company is locked in arbitration proceedings in the International Chamber of Commerce in Paris with a subsidiary of Zijin Mining over a claim that the Chinese company had acquired a 15 per cent shareholding in AVZ’s Manono joint venture company Dathcom from DRC-State owned enterprise Cominiere.
AVZ holds a 75 per cent stake in Dathcom with the 25 per cent balance held by Cominiere.
AVZ argues any purported transfer of a 15 per cent interest to the Zijin subsidiary, named Jin Cheng, would be a material breach of the pre-emptive rights contained in the existing Dathcom shareholders agreement.
The company has previously said it would take all necessary action to resist Jin Cheng’s “vexatious and meritless claims” and to protect Dathcom’s and its interests.
“The company has considered Jin Cheng’s claims in detail and considers them to be spurious in nature, without merit, containing fundamental and material errors, andhaving no substance or foundation in fact or law,” the company said last month.
On Friday, the company said it regretted the voluntary suspension period had lasted longer than was intended but that it had been actively engaged with the highest levels of the Government with respect to the grant of the mining licence at Manono and an update regarding its exploration rights.
“While the company remains confident of a positive outcome, it will be necessary to continue the period of voluntary suspension as the subject of the initial trading halt request remains incomplete,” AVZ said.
Last year AVZ said it had locked in $US240 million in funding from China’s Suzhou CATH Energy Technologies, which would give the company a 24 per cent stake in Manono, which has an estimated capital cost of $US545m.
CATH is jointly owned by Chinese billionaire battery investor Pei Zhenhua and the world’s biggest battery maker, China’s CATL.
In a separate statement, AVZ said diamond drilling had commenced at Manono with the aim of significantly increasing lithium resources and reserves at the Roche Dure deposit.
The company said equipment purchased as part of its early works program at Manono had started to arrive at site.
Shares in AVZ have been suspended since May, having last changed hands for 78¢.
AVZ was one of last year’s star share price performers rising 387 per cent over the 12-month period.
MoneyBags1348
Top 20
Joseph Kabila was said to be the true owner of Dathomir, not Dathcom. Statements now that he is not directly or indirectly involved in Dathcom, means Dathomir aren't directly involved anymore. Just to edit an add on, the alternate view could be that Dathomir is trying to separate its entity entirely from Kabila because of it’s claim, but I imagine any claim by Dathomir is null and void and Cominiere claim they lent Dathomir 5% of their shares.
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Winenut
Go AVZ!
24 bucks Tax deduction
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Winenut
Go AVZ!
So does that mean they should have by now decided whether to proceed with 1 or 3 arbitrators
If that's correct then when will the actual hearing be and how long is that process expected to take?
Samus
Top 20
Personally NFI about arbitration procedure but quick and dirty google says:
"The process and timetable must be decided – these will be worked out between the parties and the tribunal. Both should be designed to fit the requirements of the particular dispute"
"Hearings can last from half a day to many weeks or even months depending on the issues at stake."
Arbitration process
Arbitration is a contract-based form of binding dispute resolution.
www.stewartslaw.com
If it turns out we have to go through the process, sooner the better imo.
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