The Fox
Regular
Nice post, and with some exertion, nice move taking the high ground.
Have a good weekend all.
AVZ Discussion 2022
- Thread starter GazDix
- Start date
Nice post, and with some exertion, nice move taking the high ground.
Have a good weekend all.
Sammy_da_Smile
Regular
Hmm another company in DRC going via arbitration to sort out share holding 
Red Rock Resources updates shareholders on DRC arbitration proceedings
Red Rock Resources PLC (AIM:RRR) issued a statement after a recent management trip to Kinshasa to participate in arbitration proceedings.
The company also provided a review of current projects.
The arbitration proceedings in the DRC the company is pursuing refer to claims to its share of the sale proceeds of the key assets of a joint venture, which were disposed of without the company's knowledge, with US$15m of these proceeds held by the buyer of those assets pending the result of the arbitration.
"In the light of shareholder speculation, we wish to set out to the best of our understanding the current situation," said Red Rock chairman Andrew Bell.
"After several hearings, which clarified the factual background, the arbitrators urged us and the other party to negotiate between ourselves before the arbitration concluded to arrive at, if possible, an agreed outcome.
"A compromise, which represented a significant discount to what we believe to be our entitlement, but which exceeded 50% of the amount still retained by the buyer, was put to us and in the circumstances where we believed it was accepted by the other party and in deference to the wishes of the arbitrator at that time for an agreed solution, we were minded to concede, though with reluctance.
"Subsequently it appeared that the representative and negotiator of the other party had either lacked authority or had changed his mind, and the negotiation ended without agreement. We now continue to assert our claim to over 50% of the total $20m principal paid or to be paid, plus damages.
"The arbitral award, when and if made, and we hope it may be soon, will not now reflect a consensus arising from the negotiation of the parties, but the decision of the arbitrators. As we await it, we must consider a range of possible outcomes, and uncertainties of timing, but continue to press for a just solution which includes a resolution of the earlier court proceedings.
"We emphasise that although we are confident in our case, it cannot be assumed that an award will be made, or that it will be at or above any previously discussed level."
Bell said the company continues its activities elsewhere, with a highlight being New Ballarat Gold Corporation bringing two high quality and historic assets into the portfolio, which he said "takes that company to a new level".
Red Rock was also able to announce the beginning of a small drilling campaign on two excellent targets in Burkina Faso.
Red Rock Resources updates shareholders on DRC arbitration proceedings
Red Rock Resources PLC (AIM:RRR) issued a statement after a recent management trip to Kinshasa to participate in arbitration proceedings. The company also...
www.proactiveinvestors.co.uk
Red Rock Resources updates shareholders on DRC arbitration proceedings
Red Rock Resources PLC (AIM:RRR) issued a statement after a recent management trip to Kinshasa to participate in arbitration proceedings.
The company also provided a review of current projects.
The arbitration proceedings in the DRC the company is pursuing refer to claims to its share of the sale proceeds of the key assets of a joint venture, which were disposed of without the company's knowledge, with US$15m of these proceeds held by the buyer of those assets pending the result of the arbitration.
"In the light of shareholder speculation, we wish to set out to the best of our understanding the current situation," said Red Rock chairman Andrew Bell.
"After several hearings, which clarified the factual background, the arbitrators urged us and the other party to negotiate between ourselves before the arbitration concluded to arrive at, if possible, an agreed outcome.
"A compromise, which represented a significant discount to what we believe to be our entitlement, but which exceeded 50% of the amount still retained by the buyer, was put to us and in the circumstances where we believed it was accepted by the other party and in deference to the wishes of the arbitrator at that time for an agreed solution, we were minded to concede, though with reluctance.
"Subsequently it appeared that the representative and negotiator of the other party had either lacked authority or had changed his mind, and the negotiation ended without agreement. We now continue to assert our claim to over 50% of the total $20m principal paid or to be paid, plus damages.
"The arbitral award, when and if made, and we hope it may be soon, will not now reflect a consensus arising from the negotiation of the parties, but the decision of the arbitrators. As we await it, we must consider a range of possible outcomes, and uncertainties of timing, but continue to press for a just solution which includes a resolution of the earlier court proceedings.
"We emphasise that although we are confident in our case, it cannot be assumed that an award will be made, or that it will be at or above any previously discussed level."
Bell said the company continues its activities elsewhere, with a highlight being New Ballarat Gold Corporation bringing two high quality and historic assets into the portfolio, which he said "takes that company to a new level".
Red Rock was also able to announce the beginning of a small drilling campaign on two excellent targets in Burkina Faso.
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Rediah
Regular
@JAG’s left/right nut is on the line here and I am sure we will reach some sort of negotiation/deal/compromise and won’t go all the way till the end in arbitrationHmm another company in DRC going via arbitration to sort out share holding
Red Rock Resources updates shareholders on DRC arbitration proceedings
Red Rock Resources PLC (AIM:RRR) issued a statement after a recent management trip to Kinshasa to participate in arbitration proceedings. The company also...www.proactiveinvestors.co.uk
Red Rock Resources updates shareholders on DRC arbitration proceedings
Red Rock Resources PLC (AIM:RRR) issued a statement after a recent management trip to Kinshasa to participate in arbitration proceedings.
The company also provided a review of current projects.
The arbitration proceedings in the DRC the company is pursuing refer to claims to its share of the sale proceeds of the key assets of a joint venture, which were disposed of without the company's knowledge, with US$15m of these proceeds held by the buyer of those assets pending the result of the arbitration.
"In the light of shareholder speculation, we wish to set out to the best of our understanding the current situation," said Red Rock chairman Andrew Bell.
"After several hearings, which clarified the factual background, the arbitrators urged us and the other party to negotiate between ourselves before the arbitration concluded to arrive at, if possible, an agreed outcome.
"A compromise, which represented a significant discount to what we believe to be our entitlement, but which exceeded 50% of the amount still retained by the buyer, was put to us and in the circumstances where we believed it was accepted by the other party and in deference to the wishes of the arbitrator at that time for an agreed solution, we were minded to concede, though with reluctance.
"Subsequently it appeared that the representative and negotiator of the other party had either lacked authority or had changed his mind, and the negotiation ended without agreement. We now continue to assert our claim to over 50% of the total $20m principal paid or to be paid, plus damages.
"The arbitral award, when and if made, and we hope it may be soon, will not now reflect a consensus arising from the negotiation of the parties, but the decision of the arbitrators. As we await it, we must consider a range of possible outcomes, and uncertainties of timing, but continue to press for a just solution which includes a resolution of the earlier court proceedings.
"We emphasise that although we are confident in our case, it cannot be assumed that an award will be made, or that it will be at or above any previously discussed level."
Bell said the company continues its activities elsewhere, with a highlight being New Ballarat Gold Corporation bringing two high quality and historic assets into the portfolio, which he said "takes that company to a new level".
Red Rock was also able to announce the beginning of a small drilling campaign on two excellent targets in Burkina Faso.
Sammy_da_Smile
Regular
Yeh will im guessing zijin won't settle for anything less than not being recognised as a share holder what ever the amount@JAG’s left/right nut is on the line here and I am sure we will reach some sort of negotiation/deal/compromise and won’t go all the way till the end in arbitration
I feel we will see this play out to get rid of them completely.
Mr Inappropriate
Regular
I acknowledge AVZ's confidence in a getting to a resolution in their/our favour, but they are well and truely up against it:
- We know that the DRC are sitting on a massive asset of global and strategic significance.
- We know that China play the long game, and are willling to do anything and everything to meet their own strategic objectives.
- For the outcome that we seek, AVZ is relying on the strength and integrity of DRC institutions / individuals that are famously fragile and/or corrupt.
- We live in an age of hyper-disinformation, and it works. i.e. shit sticks, no matter the facts.
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Sammy_da_Smile
Regular
Don't know what to make of this coming from mines.cd website?
Same regurgitated BS paid for by the Chinese .
Sammy_da_Smile
Regular
I thought they were more official other than a "media & news company". 
No wonder the article looked familiar
No wonder the article looked familiar
Frank
Top 20
Government Sama Lukonde 2: Soon the white smoke!
Things are becoming clearer with regard to the fundamental reshuffling of the Sama Lukonde government called to be more effective.
The new Warriors team is ready, reliable sources reveal.
Already, the unproductive ministers are packing their bags in view of the storm which announces its colors for soon.
Many ministers of the allied parties will be thanked.
People familiar with air-conditioned offices will also be out.
It is in this sense that last May, each minister was asked to submit a work report to the office of the President of the Republic one year after having assumed the conduct of his sector of activity.
The exercise was not easy for several ministers.
The Sama Lukonde 2 team will only be composed, learns the non-aligned media, of loyalist elements able to translate into action the vision of the President of the Republic in his social contract with the people.
This is a way for the P05 to clean up its ranks one year before the elections scheduled for 2023.
Sama Lukonde 2 is soon white smoke.
Time is therefore the best friend.
Felix Tshisekedi is the first head of state in this country that God knows and who cares for his people” (Kabuya)
The Secretary General of the Union for Democracy and Social Progress (UDPS), Augustin Kabuya, preaches the vision of the President of the Republic Félix Antoine Tshisekedi Tshilombo to the militants and executives of his party.
Speaking on Tuesday August 2, 2022 in front of the leaders of the federations in N'sele after the visit to the mausoleum of Étienne Tshisekedi Wa Mulumba, the number 2 of the presidential party declared that "it is for the first time" that the DRC found a better head of state at the head of the country.
“The Democratic Republic of Congo was lucky to find a President of the Republic who knows God.
President Félix Tshisekedi does not manage the country with feeling, he manages the DRC with his heart.
He cares about the country, it is up to us, the members of his political family, to help him, to support him so that he can have his second term.
If others take advantage to surround it, it is because of our behavior.
Let’s be very careful,” said Augustin Kabuya
Taking advantage of this opportunity, he asked the members of the UDPS in general, and the leaders of the federations and various cells in particular, to put aside their differences to speak the same language, in order to give the Head of State a new mandate at the head of the Democratic Republic of Congo.
Samus
Top 20
A lot of these articles seem to be recycled throughout various media like this. I've just been searching for another article that I had a query about but so far only finding the same article you just posted over and over again on various sites.I thought they were more official other than a "media & news company".
No wonder the article looked familiar
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CashKing
Regular
Did you buy eggs mate ? Hard to get & expensive over here atm but if you wanna waste some still let me know
obe wan
Regular
‘Also denounces avz fund raising on the Australian stock exchange without taking into account other shareholders ‘
these idiots do remember that they ran away from paying a cent and left the exploration and feasibility costs up to AVZ don’t they ….what are they trying to say now …that they wanted to be involved in the funding ..these guys are so dumb it’s embarrassing
Mr Inappropriate
Regular
Ha! I love your confidence CC. I'll be stoked to be wrong - I might have to send you some choccy eggs instead....Did you buy eggs mate ? Hard to get & expensive over here atm but if you wanna waste some still let me know
The 15th is getting close now - do you think we'll get there (ML / % / suspension lifted)?
Bin59
Regular
The suspension in “my opinion” will not be lifted any time soon, my guess is that we really need the president to help remedy this situation and by looking at what’s going on seems he is very tied up and occupied with the M23 issue.
Blinken is due to touch down in the DRC for talks in the 9th so I would only imagine AVZ is not too high on the list of priorities when there is civil unrest in the country.
All in my opinion of course I would love to be proven wrong!!
CashKing
Regular
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