AVZ Discussion 2022

[DoubleA]

Tanganyka: Lithium Project blocking the AVZ, Jean-Félix Mupande, the Chinese Cong Mao Huai (SimonCong) or the Congolese government?​

October 17, 2022
Kiki Kienge

By Kiki Kienge
In the province of Tanganyika in Manono, the discovery of the largest hard rock lithium deposit in the world of 132 million exploitable tons over an area of 188 km², must be a priority and an opportunity for the population of this corner of the DRC. Who for years seems to sink more and more into misery. Tanganyika and Haut-Lomami unlike the two sisters Haut Katanga and Lualaba, in terms of development, nothing seems to be moving positively.
But now the project seems to be falling further and further behind, a delay that does not speak its name. Mafia, conflict between the past and present regime, corruption, war between foreign powers Chinese and Australian?
In its genesis, the Manono Lithium project was a joint venture agreement in 2016 between COMINIERE (a Congolese state-owned company) and the Mauritian company MMCS STRATEGIC under operating permit no. 12202 in Katanga for the exploitation of tin, wolframite, coltan and lithium. But the Minister of Mines at the time withdrew the exploration permit to the Mauritian company MMCS on the grounds that the latter had not carried out agreed works on the concession. In reality, the MMCS company did not have any technical capacity, but wanted to take possession of the license for the deposit in order to speculate on the stock market.
A joint venture agreement was then signed between the Australians of AVZ MINERALS with 60%, the Congolese COMINIERE with 30% and 10% with the DATHOMIR MINING RESOURCES SARL a company of the Chinese Cong Mao Huai owner of Fleuve Congo Hotel and very close of the Kabila family.
The Australians of AVZ Minerals, majority in the partnership with the Chinese of Yibin Tianyi Lithium Industry Co and Huayou International Mining (Hong Kong), have already undertaken on their side the rehabilitation and construction of roads, bridges and other infrastructures necessary for the exploitation lithium, from which the population of Tanganyika would also benefit.
The rehabilitation of the Mpiana-Mwanga hydroelectric power plant should begin with the obtaining of the operating permit by the Congolese government which is still in the drawers of Kinshasa:

Rehabilitation of the Mpiana-Mwanga hydroelectric power station, a challenge for the exploitation of lithium in Tanganyika

Blocking
There is the legal battle between Chinese mining giant Zijin and Australia's AVZ Minerals for control of the Manono mine.
DATHOMIR MINING RESOURCES SARL (Simon Cong) of the Chinese Cong Mao Huai who owned 10% in the joint venture contract with AVZ and COMINIERE, in 2020 DATHOMIR MINING RESOURCES SARL its 10% for a value of 15.5 million US dollars to AVZ, which notably buys 5% from COMINIERE. AVZ Minerals thus holds 75% and 25% by COMINIERE SA.
But in the meantime COMINIERE sells 15% of its shares in DATHCOM Mining to ZIJIN Mining, fraudulently in agreement with its acting director:
“The sale of the 15% of COMINIERE's shares in DATHCOM Mining to ZIJIN Mining was carried out in violation of the legal provisions on the withdrawal of the State from the companies in the portfolio. » IGF
Here, after the release of the said feasibility study, DATHOMIR, who had sold his shares regularly to AVZ, given the increase in the value of the project, SimonCong, owner of DATHOMIR, changed his position and decided to prosecute COMINIERE, AVZ and DATHCOM Mining thus claiming 50 Million US dollars, alleging the irregularity of the purchase of the sale of its own company shares to AVZ.
Since then, the AVZ operating permit, which should allow the start of work and the exploitation of lithium, has been blocked by Kinshasa. Accusations against Jean-Félix Mupande DG of CAMI who would even defy the Congolese government not to give the permit to AVZ, but if so, who would be behind Jean-Félix Mupande?
The report of the IGF on the situation of the sale of the shares of the COMIERE which would give more right to the Australians of the AVZ, seems to be ignored if not neglected by the Congolese government.
In the meantime the Congolese State and the Australian company AVG are losing millions of American dollars, the hope of the people of Tanganyika who live in misery for development for their province and for the creation of jobs is diminishing every day. A population that seems to be ignored, which remains a victim of this war of interests of a few people.

 

[Der Geist]

It reads like it is at the ASX's discretion whether to enforce regardless of anyone's claims but you do you. Personally I think companies should have to disclose immediately even in suspension.

I think it’s complex, where is the better Good? But when was AVZ going to reveal the “spurious”. Nigel can not appeal to “spurious” as equal to ‘supposition’. That’s what AVZ has been appealing to all along, but that’s not necessarily an objective test for ASX or legal eagles. Obviously what provoked AVZ to suspend trading probably relied on a tenement carve up issue as some claim?

 

[Doc]

I think it’s complex, where is the better Good? But when was AVZ going to reveal the “spurious”. Nigel can not appeal to “spurious” as equal to ‘supposition’. That’s what AVZ has been appealing to all along, but that’s not necessarily an objective test for ASX or legal eagles. Obviously what provoked AVZ to suspend trading probably relied on a tenement carve up issue as some claim?

I thought you sold all your shares

 

[cruiser51]

I thought you sold all your shares

That's why he and his alter egos are here peddling their crap and trying to prime people with his BS prior to SH's meetings.

Can't you see through his self serving BS?

 

[RHyNO]

I accept my Pinappling. I’ve taken worse on that last announcement while trading!

 

[Winenut]

Does it seem to anyone else that all the blowins have started to blow in again?

 

[Bin59]

 

[Bin59]

 

[LOCKY82]

Saw this, seemed a tad desperate to me, jfmk doesn't seem worth trying to interact with

 

[John25]

Does it seem to anyone else that all the blowins have started to blow in again?

Do what you got to do Nut …I’ll organise the clean up buddy

 

[Der Geist]

At least it doesn't seem like they're asking for performance rights at this year's AGM.

They should reverse the last lot. I recall Elphamale made a comparison to what AKE (producer) directors
gave themselves. AVZ PRs was fatter.
This is definitely a talking point for the AGM

 

[Doc]

Does it seem to anyone else that all the blowins have started to blow in again?

History shows that’s normally a bullish signal!!
Giddy up!!!
Let’s Goooooooooooo

 

[Frank]

*Meanwhile, I see where, "Desperate Times require Desperate Measures", as

Vice president of Posco’s lithium business strategy, Park Kwang-Seok, who said the company was looking extensively for lithium reserves in US, “even the low-grade ones we didn’t glance at previously.”

It’s almost two years since South Korea’s Posco Group began expanding in earnest into the battery raw materials business as part of a plan to play a greater role in the supply chain for cleaner cars.

By 2030, the Seoul-based steel giant forecasts it will have production capacity of around 605,000 tons for cathode-active materials, 322,000 tons for anode materials, 300,000 tons for lithium and 220,000 tons for nickel.

To that end, it’s made some bold investments, including building a nickel refinery at home, buying mining rights to a salt lake with lithium deposits in Argentina, constructing a battery recycling plant in Poland and snapping up a stake in a graphite mine in Tanzania.

Bloomberg sat down with the vice president of Posco’s lithium business strategy, Park Kwang-Seok, who said the company was looking extensively for lithium reserves in US, “even the low-grade ones we didn’t glance at previously.”

President Joe Biden’s Inflation Reduction Act, which requires EV makers secure battery minerals from countries with free trade agreements with the US in order to be eligible for a $7,500-a-car subsidy, is also high on Park’s mind. Here’s an edited transcript of the interview.

What is Posco’s overriding strategy when it comes to battery materials?

We have a goal to build a full value chain in mining and upstream for EV battery minerals, from securing the rocks to manufacturing cathode-active and anode materials and then onto battery recycling.

We believe we’re the only company in the world to have such an ecosystem.

What’s your technology around lithium refining?

We focus on extracting lithium from rocks or lakes at higher yields than rivals can.

In terms of ESG, we use less water when extracting lithium from lakes.

Using less water is important because many of these lithium lakes are located in high mountainous areas where local residents need that water.

Posco bought a lithium lake in Argentina but the country doesn’t have a free trade agreement with the US. Is this a concern for you?

We don’t think the IRA is fixed yet. We expect more details to come in November or December and we might need to revise our strategy after that.

One thing we’re considering to meet the current requirements would be bringing lithium from Argentina to Korea, producing lithium hydroxide there and then exporting it to the US, because Korea has a free trade agreement with the US.

One thing we are worried about the IRA is that most of the countries that have natural resources don’t have FTAs with the US.

It’s only Australia, Chile and Canada. Chile imposes an up to 20% royalty on mining, compared to about 3% in Argentina.

However companies are making a lot of suggestions and I think the US will listen to them and make a wise decision. Depending on the details, the IRA can be an opportunity for us.

Do you think the IRA will have an impact on your joint ventures with Chinese companies, like Huayou Cobalt?

(Posco last year outlined plans to set up a recycling business for lithium-ion batteries with Huayou Cobalt.

The pair already have a 65:35 JV called Posco Hy Clean Metal.)

Huayou is a private company in China, not a state-run firm, and I’m not sure the IRA will affect private firms.

What’s the most difficult thing about being in the battery minerals business?

Securing minerals.

It’s not something you can do with only money, or technology.

You need support from your government and industry players that are reliable. We have Zoom meetings with mining companies every day, day and night.

As a steelmaker, Posco has a pretty good reputation, everyone knows we don’t suddenly delay or scrap deals. But the competition is pretty tough and mining companies want deals on better terms for them.

We’re also hoping South Korea signs an FTA with [South American trade bloc] Mercosur, which would be a great opportunity for Posco.

What’s your forecast for lithium prices?

Prices can climb further to around $80,000 per ton, but they won’t go higher as more supply will come online.

Posco is looking at low-grade lithium sources, which we haven’t before.

mining.com

Food for thought on the long and winding Road to Mining Manono

Cheers

Frank

 

[DiscoDanNZ]

I didn't get an invite to the roadshow I knew I should have bought more at 6c

 

[Winenut]

Do what you got to do Nut …I’ll organise the clean up buddy
View attachment 19192

Funny thing is I didn't whack stupid old Modo

Someone got in before me

I was just thinking about it because his/her comments were clearly just shitful.......and then all of a sudden it had happened!!

I do love it though when the group moderating process on TSE works just like it should

Makes for a great meme or gif opportunity too!

 

[Winenut]

Anyone care to speculate on when we might get the pre-roadshow/pre AGM announcement(s) and what some of the items are that might be addressed??

Or does everyone have speculation paralysis due to extreme fear of pineappling?

I'll throw it out there...

I think there will be an announcement released over this weekend or some time on Monday although I don't expect trading to resume until some time later

Main item(s) covered will be clarity around Dathcom ownership percentages and the size/shape and status of tenements 4029, 4030 and 13359 in preparation for the issue of the ML

There

I've said it

Reliable sources..... nil

Any sources at all..... nil

Complete conjecture..... yep

Personal pineapple protection..... 100% deployed

 

[DiscoDanNZ]

Anyone care to speculate on when we might get the pre-roadshow/pre AGM announcement(s) and what some of the items are that might be addressed??

Or does everyone have speculation paralysis due to extreme fear of pineappling?

I'll throw it out there...

I think there will be an announcement released over this weekend or some time on Monday although I don't expect trading to resume until some time later

Main item(s) covered will be clarity around Dathcom ownership percentages and the size/shape and status of tenements 4029, 4030 and 13359 in preparation for the issue of the ML

There

I've said it

Reliable sources..... nil

Any sources at all..... nil

Complete conjecture..... yep

Personal pineapple protection..... 100% deployed

I think you've hit the nail on the head, they can't show up to the roadshow with nothing better than the old throwaway "discussions are moving in a positive direction/spurious claims" etc. They aren't stupid enough and would get lynched for it.

 

[Remark]

Anyone care to speculate on when we might get the pre-roadshow/pre AGM announcement(s) and what some of the items are that might be addressed??

Or does everyone have speculation paralysis due to extreme fear of pineappling?

I'll throw it out there...

I think there will be an announcement released over this weekend or some time on Monday although I don't expect trading to resume until some time later

Main item(s) covered will be clarity around Dathcom ownership percentages and the size/shape and status of tenements 4029, 4030 and 13359 in preparation for the issue of the ML

There

I've said it

Reliable sources..... nil

Any sources at all..... nil

Complete conjecture..... yep

Personal pineapple protection..... 100% deployed

That'll stop the burn!

 

[John25]

Funny thing is I didn't whack stupid old Modo

Someone got in before me

I was just thinking about it because his/her comments were clearly just shitful.......and then all of a sudden it had happened!!

I do love it though when the group moderating process on TSE works just like it should

Makes for a great meme or gif opportunity too!

So the HIT orders came from higher up Nut ... have WE a “Godfather “ this may be a clue

 

[Carlos Danger]

Anyone care to speculate on when we might get the pre-roadshow/pre AGM announcement(s) and what some of the items are that might be addressed??

Or does everyone have speculation paralysis due to extreme fear of pineappling?

I'll throw it out there...

I think there will be an announcement released over this weekend or some time on Monday although I don't expect trading to resume until some time later

Main item(s) covered will be clarity around Dathcom ownership percentages and the size/shape and status of tenements 4029, 4030 and 13359 in preparation for the issue of the ML

There

I've said it

Reliable sources..... nil

Any sources at all..... nil

Complete conjecture..... yep

Personal pineapple protection..... 100% deployed

We are long overdue an update on the Zijin arbitration and the Dathomir case. Not to mention the mining licence which should be top priority for management instead of roadshows if it is not secured before the AGM.

I think we will get an announcement after market on October 31st. The timing of the first roadshow the night before the next suspension deadline is most likely by design. But after this many extensions and missed deadlines I will take anything that management says other than an official reinstatement of trade with a boulder of salt.