AVZ Discussion 2022
- Thread starter GazDix
- Start date
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
Jules Alingete tranche : «L’IGF n’est que le bras d’exécution de la vision du Chef de l’Etat»
On en sait un peu plus sur les réelles motivations de l’Inspection générale des finances (IGF) comme service de contrôle supérieur de l’Etat en matière des finances publiques. A l’initiati
exclusifrdc.com
Sparrowhawk12
Regular
JAG
Top 20
No worries Sparrow....I generally don't say much as my opinion is mine, the same as my left NUT...just like sharing the info
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.
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 traced
Frank
Top 20
*To add, fwiw, especially after the Goldman Sucks saga, I see where,
Near-term producers rise as Albemarle confirms lithium shortage for next 7-8 years
Over the past week near term producers Core Lithium, Sayona Mining, Lake Resources, Ioneer, Vulcan Energy and Liontown have all jumped off the back of more news that there’s just not enough lithium around.US producer Albemarle now says the supply crunch is going to be here until 2030.
“It’s systemic for a pretty long period of time,” CEO Kent Masters told the Financial Times.
“For seven to eight years it stays pretty tight.”
Albemarle also expects to be able to increase its production and turn cash flow positive this year, off the back of continued strength in lithium pricing.
No surprise really, considering the IEA reckons we need about 60 more lithium mines by the end of the decade to meet global decarbonisation and electric vehicle goals.
A solid 70 stocks were in the green, 27 were flat and 34 were red.
Food for thought on the Road to Mining Manono
Frank
Frank
Top 20
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.
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
It also points to "undue benefits" paid to executives and the "payment of exorbitant snacks".
"During the period under review, Gécamines generated 2 billion US dollars in own resources," IGF boss Jules Alingete told AFP.
However, he said, "1.5 billion was used to pay management bonuses and snacks".
marksmann007
Regular
High Voltage: Lithium supply shortfall could put (semi) solid-state batteries on ice - Stockhead
A lithium supply shortfall could be exacerbated by emerging semi solid-state technology, which may need an extra 81ktpa alone by 2030.
stockhead.com.au
marksmann007
Regular
BTW the above swimsuit image came with the report.
Remark
Top 20
Hi Jag,
Thanks for all the updates from the Twitterverse. I have one request - could you please post the links to the Tweets with the screenshots as it would make it easier to find the threads.
I think we're through the worst of the crap (until the Chinese crank up the BS just before we start trading again!) & I'm feeling positive for the first time in a loooong time.
Frank
Top 20
Anthony Blinken received by Felix Tshisekedi
The American Secretary of State Anthony Blinken exchanged this Tuesday, August 09 at the Presidential Palace of Mont Ngaliema with the Head of State Félix Antoine Tshisekedi Tshilombo.
The two personalities discussed in French, for nearly an hour, on several issues, before extending the exchanges into an enlarged bilateral meeting.
According to the presidential press, the Head of State Tshisekedi was surrounded by Deputy Prime Ministers Christophe Lutundula of Foreign Affairs and Eve Bazaiba of the Environment, but also Ministers of Finance, Defense as well as that of Communication and media.
This, like the Special Representative of the Head of State Serge Tshibangu, the Special Advisor to the Head of State in matters of security Jean-Claude Bukasa and the Special Advisors Jean-claude Kabongo and Fortunat Bisielele.
The American part was composed, among others, of the Under-Secretary of State for Economic Growth, Energy and the Environment José Fernandez, the Assistant Secretary of State for African Affairs Molly Phee and the Principal Director of the National Security Council for the Africa Judd Devermond.
The American Secretary of State will give a press briefing to deliver the meaning of the exchanges with the President of the DRC.
A synergy of 17 Congolese and American organizations, pro-democracy movements and personalities sent a letter to the US State Department asking the Secretary of State to focus on elections, repression, corruption and endemic violence in the east of the country.
www.mediacongo
The Fox
Regular
Who said anything about a TO from a Chinese company? FYI you won’t be able to vote on any potential sale by AVZ of its Dathcom shares, whether this happens at 100% or a lessor percentage just to let you know.
Fighting to the end and worse case scenarios doesn’t sound what you might say, “commercially strategic”.
If I had a choice in the matter I would see AVZ sell 100% (or continue to hold a 10% free carry) of its ownership of the Roche Dure tenement for say $4B, provide a special dividend to AVZ shareholders of approx $1.20 or more then with balance of funds held by AVZ prove up Carriere de I’Este and just do it all again, and while picking up a couple of other sites either here in Australia or the DRC to diversify.
On the above example I’d expect with AVZ holding approx $500M in the bank, say 10% of Dathcom, 100% of the surrounding Manono leases (already held) and Carriere de I’Este and AVZ power making dollars charging for the electricity to mining sites and town the share price would be approximately 40 cents, maybe more IMO of course. (Or flip this all around and sell Carriere de I’Este for $1B with 100% off take locked in and move forward with Roche Dure with no debt or need to take on equity parters Chinese or otherwise, just a thought)
FYI the Carriere de l’Este Pegmatite, has a mapped length of about 5,500m, and is potentially the largest pegmatite in the Manono Project and potentially the highest grade.
Fight to the death or bitter end, winner take all is good when your back is against the wall, however I believe AVZ is well in front of everything and is gradually winning its bouts with the various corrupt parties it encounters so to that end this is all a game of strategy more like chess then a punch up.
The strategy is to protect, retain or monetise assets to make the most dollars for shareholders, nothing else really matters. If the best outcome for shareholders (immediate and long term) is for some type of TO so be it.
I see a full or partial TO as an absolute win for shareholders (if completed on favourable terms of course.)
Unfortunately, I don’t think there is a high chance of a TO of AVZ’s interests in Dathcom at this time. Although I certainly do hope it happens now and it’s based on a similar outcome / structure to what I described above.
In any event, I would not dismiss the “Opportunity” of a TO so readily when there are Take Overs and there are Take Overs, any outcome that is of great financial benefit and reward to AVZ shareholders is welcome IMO.
As suggested in a previous post, seems this week is turning out to be very interesting indeed.
Regarding coming out of suspension, from what I hear it’s unlikely this week, apparently everything is all sorted in favour of AVZ which is great news, yet there are still various processes and documents to complete / finalise to support coming out of suspension. It all might be completed and written up in the next few days but sounded unlikely. As always, we shall see what the tide brings in tomorrow, and the next day and so on and so on…….
Cheers The Fox
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