Hi all,
Hi all,
In the yellow snippet, the IGF conclusions confirms what I thought yesterday, that the 5% to Dathomir from Cominière are definitive because of the contract between Cominière and Dathomir.
The 15% to Zijin are them Null & void because in breach of the law and existing contracts!
To me, it means that IF legal procedures are fair, we should be okay (but at the moment I am having doubts about fairness in DRC).
What I am wondering, is what is the place and power of the IGF in DRC?
I have no knowledge regarding this and I tend to love the IGF as they seem to be supporting us but has anyone any knowledge of their legal weight in DRC? Any story about a past case they brought home? What is their process when charging someone?
Looking forward to your opinions,
Dopi
Thanks JAG for all the updates from the bird. GLTAH
No worries Sparrow....I generally don't say much as my opinion is mine, the same as my left NUT...just like sharing the infoThanks JAG for all the updates from the bird. GLTAH
Hi all,
In the yellow snippet, the IGF conclusions confirms what I thought yesterday, that the 5% to Dathomir from Cominière are definitive because of the contract between Cominière and Dathomir.
The 15% to Zijin are them Null & void because in breach of the law and existing contracts!
To me, it means that IF legal procedures are fair, we should be okay (but at the moment I am having doubts about fairness in DRC).
What I am wondering, is what is the place and power of the IGF in DRC?
I have no knowledge regarding this and I tend to love the IGF as they seem to be supporting us but has anyone any knowledge of their legal weight in DRC? Any story about a past case they brought home? What is their process when charging someone?
Looking forward to your opinions,
Dopi
Which commodities won and lost in July?
Lithium
Price (Fastmarkets Lithium Carbonate): US$73,000/t
There’s no accepted spot market for lithium, something that makes the movement of prices from month to month a tough one to quantify.
Fastmarkets, which provides lithium hydroxide pricing for the LME, reckons spot sales of lithium chemicals remain stable at very high levels, fetching in excess of US$70,000/t.
Spodumene producers are still in a purple patch as well.
Pilbara Minerals, which has cultivated the start of a spot market with its Battery Materials Exchange, selling its latest cargo at a hefty price of US$7012/t on a 6% SC basis.
According to long-term industry monitor Battery Minerals Intelligence, prices continue to be heady for the electric vehicle commodity.
“Benchmark recorded an offer in South Korea for battery grade hydroxide at $70,000/tonne (CIF Asia), amid reports spot market pricing outside of China has begun to soften, beginning to erode the significant premium that has developed for international transactions compared to the Chinese domestic market,” they said.
“Nonetheless, contacts reported to Benchmark that small spot market volumes of lithium hydroxide in Europe or North America could fetch nearly $10,000/tonne more than an order for lithium carbonate, amid ongoing concerns over availability, with ex-China hydroxide prices still reaching towards $80,000/tonne (FOB North America).”
*To Remind,
There is no oversupply coming: Cowen
Lithium stocks suffered an astonishing selldown after major investment bank Goldman Sachs called the top of the battery metals boom in a note last week.
Industry experts aren’t buying it.
Other investment banks aren’t buying it either.
In a note titled “Take Advantage of the Noise” Cowen says lithium stocks prices have been hit by these peer reviews on lithium oversupply and confusion around Argentine transfer taxes — issues that both appear overblown.
“EV driven demand growth cannot be satisfied by li supply in any year in our model, underpinning cash flow growth from volume additions and improved pricing,” Cowen says.
“We model a 19% deficit to demand from 2023-2030.”
While spot pricing may pull back from “breakneck levels” of +$US70k/t in 2023, producer pricing will continue to rise.
It’s important to note that the spot market reflects a very small amount of product. Most lithium is sold via contracts.
Here, if sustainable pricing can be achieved in the mid $US30k range, “the lithium space remains an extremely compelling investment”, Cowen says.
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IGF are the DRC Ombudsman/Auditor and have a fair bit of power and influence.
If you look at what is happening with Gécamines, the President is talking about renegotiating contracts based on IGF findings etc.
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Congo ombudsman says millions lost at state mining firm | Africanews
In one of the grim discoveries, auditors say that more than $400 million in tax advances and loans the company said it made to the state could not be tracedwww.africanews.com
Hi Jag,
I absolutely agree @Dazmac66. Accepting a TO from a Chinese company will be perceived as more weakness from Australia and Australian based companies. They will realise if they cause a little trouble with the local gov, send a few snacks to a few people and post some bull$h!t on twitter then Oz based companies will panic and just give up.
I want AVZ to fight until the bitter end. Yes there is a chance we may loose but the odds are in our favour and the chance of success is a greater.
TO is off the table for me. I will be voting against, if this ever is proposed.
Worst case scenario we dont sell to CATH and keep %75 ownership, DRC get their 10% and the Dath/Zin %15 can be sorted by the DRC corruption watch dog. The way the market in Lithium is right now we could cap raise 300 million from a mix of strategic investors and retail. I would happily buy more.
IMO GLTAH