AVZ Discussion 2022

[Sammy_da_Smile]

Posting this again with the pretty pictures. Klaus probably lining up to do a CR in Germany. The paid article below was issued by German site.

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Good cooperation with government: AJN Resources: Young gold and lithium explorer in Congo is picking up speed​

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The German geologist Klaus Eckhof enjoys high confidence among the Congolese government authorities. All raw material claim are in the best locations. The gold claim not far from Kibali; the lithium claim not far from Manono.

The Congolese state will soon have 21 attractive gold projects and a lithium deposit in AJN Resources Inc. through an already founded company. (TSX-V: AJN, FSE: 5AT). Subsequently, the government of the Congo will hold 60 percent of all AJN ordinary shares and, together with the AJN management, will strive to further develop the projects and repeat the great successes of Moto-Goldmines and AVZ Minerals.

What lasts a long time will finally be good, is a well-known German proverb. It describes very well what has happened at AJN Resources this year. Already on the 8th In February 2022, the company announced that a memorandum of understanding had been signed with the government of the Democratic Republic of Congo. She was born on the 19th. April 2022 confirmed by the state.

General information, chart and videos about AJN Resources and other raw materials/technology companies at:

?? axinocapital.de/ajn or ?? axinocapital.de


Please subscribe to our YouTube channel ?? Here

Subsequently, it seemed to outsiders that it had become quite quiet about AJN Resources and its activities. Behind the scenes, however, the details of the two agreements were eagerly worked on. In the meantime, they have been completed and the result can be seen both from the point of view of the shareholders of AJN Resources and from the point of view of the government of the Congo, because numerous very promising exploration properties have been bundled in a new company.

Congo Resources will soon become a 100% subsidiary of AJN Resources​

The new company is called Congo Ressources SAU. 22 applications for exploration permits will soon be submitted to them. They are located in the east of the country and cover 6,278 mining squares and an area of 5,398 km2. The mass of applications, a total of 21 in number, concern gold deposits and refer to the kilo-moto gold belt. The 22nd Approval concerns a lithium deposit in the Manono region.

Klaus Eckhof's good relations with the Congolese government
pay off again


In recent weeks, the government of the Congo has authorized the mining cadastre to accept the 22 new applications. As soon as the cadastral office has approved the applications, Congo Ressources SAU, which has now been fully founded, can start its work. However, she will not become self-employed, but will act as a 100% subsidiary of AJN Resources.

To this end, AJN Resources will hand over 60 percent of its ordinary shares to the Congolese state following capital increases still to be made. This ensures that the country's promising gold projects cannot get into foreign hands without the government of the Congo having a say.

AJN Ressources will soon have an extremely attractive project portfolio​

It speaks for AJN Resources and in particular its CEO and president, Klaus Eckhof, that the government of the Congo not only wants to bundle the important and particularly promising gold projects in the northeast of the Congo in one hand, but also entrusts the development of these properties to AJN Ressources.

AJN itself is still a young company and hardly any investor already has this inconspicuous caterpillar, which could soon turn into a butterfly, on its radar. But in government circles, it is not forgotten what great successes Klaus Eckhof has achieved in the past two decades in Congo.

AJN is on the ball with numerous gold claws; many of them
not far from the legendary Kibali gold mine

An impressive track record​

The development of the Kilo-Moto gold mine, which was taken over by Randgold in 2009 and is now part of Barrick Gold through the merger of Randgold with Barrick Gold, established its legendary reputation in the country. The project was acquired at the end of 2003. Subsequently, more than 20 million ounces of gold were delimited on it within just four years of exploration. They quickly aroused the interest of Randgold Resources, which ultimately not only led to the acquisition of Moto Gold Mines by Randgold, but also made Randgold the attractive company that merged with Barrick Gold in 2018.

In the south of the Congo, Klaus Eckhof also opened up the Manono project as founder and former executive chairman of AVZ Minerals. LCT (lithium, caesium, tantalum) pegmatite deposits were discovered on it. Their exploration has been pushed so far in recent years that the Manono project has now grown into one of the largest lithium projects in the world.

In the north of the Congo, the Mpama North mine of Alphamin Ressources also operates. This project, also discovered by Klaus Eckhof, not only represents a classic high-grade low-cost producer, but with its annual production of around 10,000 tons of tin, now also represents about three percent of the world's tin production.

Without the trust and goodwill of the locals
Population can't succeed a raw material project

AJN Resources wants to build on this success story​

A continuation of this success story is not only possible, but planned. If it were different, the government of the Congo, firstly, would not have bundled 22 interesting mining projects in the country in Congo Resources SAU and secondly, would not have contributed them to AJN Resources, but a management team would have organized and started exploration independently of AJN Resources.

However, the government of the Congo does not want to work with anyone, but has deliberately decided to cooperate with Klaus Eckhof. The same applies to all those investors who will participate in AJN Resources in the upcoming financing. These investors also know that due to the 60% share of the state in AJN Resources, they will only be minority shareholders, but they also consciously decide to cooperate with Klaus Eckhof.

Investors entering AJN Resources invest in gold and lithium

The extent to which the capital increases at AJN Resources will be determined by the upcoming due diligence checks for the submitted projects. However, two things are already certain: The Congolese state will hold 60 percent of all ordinary shares after completion of all transactions and all shareholders, whether state or private, rely on the topics of gold/inflation and lithium/electric mobility with their commitment to AJN Resources.

The gold properties are all located in the northeast of the Congo. Particularly attractive and promising projects include Wanga, Rambi, Gada and Nizi, as well as ten other exploration licenses in the kilo-moto belt. The company's lithium focus will also develop in the east, but much further south, because the government of Congo has agreed to support the granting of a lithium license to Congo Ressources SAU. It includes part of the pegmatite Manono.

AJN's lithium project is located near the Manono
Lithium deposit also in a truly best location

Final preparations, then a win-win situation starts for everyone involved​

In the coming weeks, the state will take further coordination measures to ensure the smooth issuance of the lithium license. The Congolese state will also probably also want to participate in the further capital increases that will be necessary over time, because the government of Congo has secured a right of first refusal in the treaties for all capital measures to be carried out in the future.

This right only makes sense if the Congolese state wants to continue to be the company's most important shareholder. After completion of the transaction, AJN Resources will be led by five directors. Two of them, including the vice-chairman, will be appointed by the state.

The chosen procedure offers advantages for all parties involved, because a classic win-win situation arises. The state benefits from the fact that the gold projects it brings into the company are finally being developed emphatically and private investors also benefit from the participation of the state, because they know that it also has an increased interest in turning the properties into production mines, because the overarching goal of the government is long-term secure jobs for the local population and high, continuous income from taxes and mining operations for itself.

Investors who are looking for further investments in the fields of gold and lithium can therefore only be strongly advised to work with AJN Resources, because there is not only the possibility that Klaus Eckhof will repeat his great successes in Congo, but also the risk that investors will not become aware of society until the train has long since left AJN Resources. Therefore, early employment with the company is only recommended to any interested raw material investor.



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Included values: XD0002747026,CA00149L1058

Yeh Nigel did the Germany presso's with Axino.

 

[Xerof]

For good order, the 5 or so applications for the tenements surrounding ours are issued to Congo Environment and Mining Consulting, NOT to Congo Resources SAU. Sangster is correct with his precision laser beam, showing that Klaus is after the northern part of 13359

I also cocked this up on crapper, kindly corrected by roller

 

[antimatter]

No worries, You are correct, thanks.

Either way, I hope its a Klaus tactic for positioning, a CR and or sticking it to AVZ, not a loss of the northern section.

Cheers The Fox

My take re AJN is that, similar to Jijin, Klaus has used his DRC connections to illegally obtain under the table/brown paper agreements with gov officials re CDL. If AVZ wants CDL back, NF should fight this hard and fight this NOW. Enough is enough. We need to show corrupted officials in DRC that we are not push over.

 

[Roon]

Rollover from HC - may be relevant

this seems like CAMI's end game behind the 6 month hold up (probably no coincidence that the AJN/DRC JV was being drawn up prior). My uninformed take is the below;

1 - DRC Government bring up concerns over northern end of CDL not being proven up and that it should be separated into new exploration zone. Likely after being whispered to by third party interests - Cong/KE.

2 - New AJN / Government JV drawn up giving the DRC 60% of the proceeds of any deals. Snack potential abounds. AJN likely makes backhand under-the-counter deal with Cong to sell out a proven up northern CDL tenement to Chinese interests for big bucks. Perhaps to Zijin. KE having always been an in-and-out guy, not a miner.

3 - Need to split tenement formally announced in ML Decree by Minister of Mines, after all this backchannel work, with AVZ assured not to worry because its a formality and you'll get the exploration licence. As MoM hasn't been party to the takeover strategy planned by the snakes.

4 - CAMI DG however, frustrates ML proceedings, indicating only a willingness to issue surface rights for the lower half of the 13359 tenement, and at the same time not willing yet to issue new exploration licence for the new cut off northern portion. Rejecting AVZs demand that they be issued together.

5 - CAMI DG indicates to AVZ that actually it would have to give up northern section, and that this was the President's wish - giving something back to the DRC. But then you'll get RD ML. Carrot / Stick.

6 - AVZ pushes back, especially after discovering this demand didn't come from the leadership but had its origins in a corrupt JF/KE/Cong triangle.

7 - Having been discovered and unable to secure the northern half through quick deal with AVZ, CAMI DG and Cong/KE make decision to push ahead with their territorial gambit anyway, secure in the belief they can bribe and sweet talk their way to success, poisoning the AVZ well at the same time through multiple avenues of propaganda and action.

8 - DG CAMI attempting to persuade DRC leadership that this is the most equitable pathway and would represent best chance for success in FT's battery plans, and also that this would end up with DRC having a 60% stake in the tenement. Reminders all round that there'll be big bucks to flow around when that's sold on to the Chinese.

9 - ?? - what's next.

Anyway this is all speculation, but it would explain a lot of the activity in 2022 IMO.

 

[Xerof]

My take re AJN is that, similar to Jijin, Klaus has used his DRC connections to illegally obtain under the table/brown paper agreements with gov officials re CDL. If AVZ wants CDL back, NF should fight this hard and fight this NOW. Enough is enough. We need to show corrupted officials in DRC that we are not push over.

Easily fixed
step 1. Push DG off a balcony
step 2. attend his funeral
step 3. let the appointed DG actually do her new job
step 4. Ask her to grant the ML over 13359 in it's entirety
step 5. put AJN applications through the shredder

 

[DiscoDanNZ]

Easily fixed
step 1. Push DG off a balcony
step 2. attend his funeral
step 3. let the appointed DG actually do her new job
step 4. Ask her to grant the ML over 13359 in it's entirety
step 5. put AJN applications through the shredder

 

[whales]

Easily fixed
step 1. Push DG off a balcony
step 2. attend his funeral
step 3. let the appointed DG actually do her new job
step 4. Ask her to grant the ML over 13359 in it's entirety
step 5. put AJN applications through the shredder

What you are saying is for the DRC to follow the rule of law ??
What is Momentum take on this development and AVZ response ?

 

[Charbella]

Gute Kooperation mit Regierung: AJN Resources: Junger Gold- und Lithiumexplorer im Kongo nimmt Fahrt auf

Anzeige / WerbungDer deutsche Geologe Klaus Eckhof genießt hohes Vertrauen bei den kongolesischen Regierungsbehörden. Alle Rohstoff-Claims befinden sich in besten Lagen. Die Gold-Claims unweit Kibali;

www.finanznachrichten.de

From our Axino mates

02.11.2022 | 09:33
259 readers
Rate this article:
( 1 )
Good cooperation with government: AJN Resources: Young gold and lithium explorer in the Congo is picking up speed
Advertisement / Advertisement

The German geologist Klaus Eckhof enjoys a high level of trust among the Congolese government authorities. All commodity claims are in prime locations. The gold claims near Kibali; the lithium claim not far from Manono.

The Congolese government will shortly bring 21 attractive gold projects and a lithium deposit to AJN Resources Inc. (TSX-V: AJN, FSE: 5AT) through an already incorporated company. Thereafter, the Congo Government will hold 60 percent of all AJN common stock and together with AJN management will seek to advance the projects and repeat the great achievements of Moto-Goldmines and AVZ Minerals.

Good things come to those who wait is a well-known German proverb. It describes very well what has happened at AJN Resources this year. As early as February 8, 2022, the company announced that it had signed a letter of intent with the government of the Democratic Republic of the Congo. It was officially confirmed on April 19, 2022.

General information, chart and videos about AJN Resources and other resource/technology companies at:

After that, it seemed to outsiders that AJN Resources and its activities had become quite quiet. However, the details of the two agreements were being worked on diligently behind the scenes. They have been completed in the meantime and the result is impressive both from the point of view of the shareholders of AJN Resources and from the point of view of the Congo government, because numerous very promising exploration properties have been bundled in a new company.

Congo Resources will soon become a 100% subsidiary of AJN Resources
The new company is called Congo Resources SAU. It will shortly receive 22 Exploration Permit Applications. Located in the east of the country, they cover 6,278 mining squares and an area of 5,398 km². The bulk of the applications, 21 in total, concern gold deposits and relate to the Kilo Moto gold belt. The 22nd permit is for a lithium occurrence in the Manono region.

Official event in Congo.
Klaus Eckhof's good relations with the Congolese government are paying off again.

In the past few weeks, the Congo government has authorized the mining register to accept the 22 new applications. As soon as the land registry office has approved the applications, the now fully founded Congo Resources SAU can start its work. However, it will not operate independently, but will operate as a 100% subsidiary of AJN Resources.

To this end, AJN Resources will transfer 60 percent of its ordinary shares to the Congolese state following capital increases that have yet to be carried out. This ensures that the country's promising gold projects cannot fall into foreign hands without the government of the Congo having a say.

AJN Resources will soon have an extremely attractive project portfolio
It speaks for AJN Resources and in particular its CEO and President, Klaus Eckhof, that the government of the Congo not only wants to bundle the important and particularly promising gold projects in the north-east of the Congo in one hand, but entrusts the development of these properties to AJN Resources.

AJN itself is still a young company and hardly any investor has this inconspicuous caterpillar, which could soon turn into a butterfly, on their radar. But government circles have not forgotten the great successes that Klaus Eckhof has achieved in the Congo over the past two decades. AJN on the ball on numerous gold claims; many of them not far from the legendary Kibali gold mine.

The development of the Kilo-Moto gold mine, acquired by Randgold in 2009 and now part of Barrick Gold through Randgold's merger with Barrick Gold, established its legendary reputation in the country. The project was acquired in late 2003 and has subsequently outlined over 20 million ounces of gold in just four years of exploration. They quickly attracted interest from Randgold Resources, which eventually not only led to Randgold's acquisition of Moto-Goldmines, but also significantly made Randgold the attractive company that merged with Barrick Gold in 2018.

In southern Congo, Klaus Eckhof, founder and former Executive Chairman of AVZ Minerals, also developed the Manono Project. LCT (lithium, cesium, tantalum) pegmatite deposits have been discovered on it. Their exploration has progressed so far in recent years that the Manono project has now grown into one of the largest lithium projects in the world.

Alphamin Resources' Mpama North mine also operates in northern Congo. This project, also discovered by Klaus Eckhof, not only represents a classic high-grade, low-cost producer, but with its annual production of around 10,000 tons of tin now also accounts for around three percent of global tin production.

No raw material project can succeed without the trust and goodwill of the local population

AJN Resources wants to continue this success story.

A continuation of this success story is not only possible, but planned. If it were otherwise, the government of the Congo would not have bundled 22 interesting mining projects in the country in the Congo Resources SAU and, secondly, would not have brought them into AJN Resources, but organized a management team and started exploration independently of AJN Resources.

However, the government of the Congo does not want to work with just anyone, but has made a conscious decision to cooperate with Klaus Eckhof. The same applies to all those investors who will participate in the forthcoming financing of AJN Resources. These investors also know that they will only be minority shareholders due to the state's 60% stake in AJN Resources, but they also make a conscious decision to work with Klaus Eckhof.

Investors entering AJN Resources invest in gold and lithium

How extensive the capital increases at AJN Resources will be will be determined by the forthcoming due diligence reviews for the projects brought in. However, two things are already certain: the Congolese state will hold 60 percent of all ordinary shares after all transactions have been completed and all shareholders, whether state or private, are focusing on the topics of gold/inflation and lithium/electromobility with their commitment to AJN Resources.

The gold properties are all located in northeastern Congo. The particularly attractive and promising projects include Wanga, Rambi, Gada and Nizi, as well as ten other exploration licenses in the Kilo Moto belt. The Company's lithium focus will also develop to the east but significantly further south as the Congo government has agreed to support the granting of a lithium license to Congo Resources SAU. It includes part of the Manono pegmatite.

AJN's lithium project is also in a truly prime location near the Manono lithium deposit.

Final preparations, then a win-win situation starts for everyone involved
In the coming weeks, the state will take further coordination measures to ensure the smooth issuance of the lithium license. The Congolese state will probably also want to participate in the further capital increases that will be necessary over time, because the government of the Congo has secured a right of first refusal for all capital measures to be carried out in the future.

This right only makes sense if the Congolese state wants to remain the company's main shareholder. Upon closing of the transaction, AJN Resources will be led by five directors. Two of them, including the vice-chairman, will be appointed by the state.

The chosen procedure offers advantages for everyone involved, because it creates a classic win-win situation. The state benefits from the fact that the gold projects it has brought into the company are finally being vigorously developed, and private investors also benefit from the state's participation, because they know that the state also has an increased interest in turning the properties into producing mines because the overriding goal of the government is long-term secure jobs for the local population and high, ongoing income from taxes and mining operations for itself.

Investors looking for further investments in the fields of gold and lithium can therefore only be strongly recommended to deal with AJN Resources, because there is not only the possibility that Klaus Eckhof will repeat his great successes in the Congo, but also at the same time the danger that investors only become aware of the company long after the train has left AJN Resources. Therefore, an early involvement with the company is only recommended to every interested commodity investor.

Why is our German friends saying it’s not far from Manono? Not exactly in Manono as claimed.

The German geologist Klaus Eckhof enjoys a high level of trust among the Congolese government authorities. All commodity claims are in prime locations. The gold claims near Kibali; the lithium claim not far from Manono.

 

[Flight996]

$6 Billion (Roon)…. $1.50 (You)

You and @Roon are a pair of fucken cheap scapes selling out to a low ball offer.

I would suggest Nigel would laugh at a low ball offer and you two should start shopping at St Vincent De Paul or the Salvos if you’re that desperate

And after all I’ve tried to do for you Wombles, I’m disgusted, which is fucken good because it means I’ll get off here for the fucken day

Hi MB

I've held a few Cu explorer-come-producers, and those with scale and grade generally get taken over by a major once production commences. There is a quick rule-of-thumb for approximating the value of each share before mining commences (I fully understand that Cu is not Li, and there are many extraction, processing and transporting dissimilarities).

Noting these dissimilarities, the quick formula is 3% of the JORC.

AVZ 's Roche Dure (RD) has a JORC of 400Mt at 1.6%, and the company has 3.59 billion shares on issue

This equals approx $US5.85 per share for RD alone at current spodumine prices.

I agree that there are many many variables, which the quick formula does not take into account.
In the end it could be that this heuristic is totally invalid, but maybe it's a start.

Cheers
F

 

[LOCKY82]

Any NEW ZEALANDERS IN HERE!?!?
trying to get nz roadshow info and I'd have a better chance of avz getting the ML by end of day!!

 

[LOCKY82]

Hi MB

I've held a few Cu explorer-come-producers, and those with scale and grade generally get taken over by a major once production commences. There is a quick rule-of-thumb for approximating the value of each share before mining commences (I fully understand that Cu is not Li, and there are many extraction, processing and transporting dissimilarities).

Noting these dissimilarities, the quick formula is 3% of the JORC.

AVZ 's Roche Dure (RD) has a JORC of 400Mt at 1.6%, and the company has 3.59 billion shares on issue

This equals approx $US5.85 per share for RD alone at current spodumine prices.

I agree that there are many many variables, which the quick formula does not take these into account.
In the end it could be that this heuristic is totally invalid, but maybe it's a start.

Cheers
F

$5.85 u.s. before mining!?!?

 

[Remark]

Apparently there's a new position awaiting Jean Felix Mupande Kapwa, hopefully he'll fill it soon....

https://globalpressjournal.com/afri...te-cemetery-promises-safe-resting-place-rich/

 

[JAG]

Apologies if this has already been posted.

Complaint against AJN https://touspourlardc.org/complaint-against-ajn/

A. Introduction

1. We write to you in your capacities as the competent Canadian stock exchange authorities in connection with your responsibility for exercising market surveillance and participant discipline and enforcing regulatory compliance with respect to deceptive and unscrupulous market behaviour by AJN Resources Inc. (CSE AJN) (“AJN”).

• The Complainants are Non-Governmental Organisations and Platforms established in the Democratic Republic of Congo (“DRC”) and whose objectives are, amongst other things, to raise awareness and combat human rights abuses, violations of laws and regulations, fraudulent and dishonest practices and corruption in several sectors of activity including the mining industry in the DRC. The identity and contact details of the Complainants are provided in Appendix A.

B. Facts

1. On the Home page of its website https://ajnresources.com/, AJN states that it is a junior exploration and development company formed for the purposes of acquiring, exploring and if warranted and feasible, developing resource properties.

• Between January 18 and April 15, 2020, AJN issued a stream of news releases regarding (a) its purported right to acquire indirect 30-35% free carried interests on 13 mining licences covering 3,801km2 in the DRC, and (b) the resources allegedly contained in the mineral projects it is seeking to acquire in the DRC.
• On January 18, 2020, AJN issued another news release announcing that AJN signed a Memorandum of Understanding (MoU) with Société Minière de Kilo-Moto SA (“SOKIMO”), whereby SOKIMO proposes to obtain from AJN the conversion of its rights to a direct participation in various gold licences held by SOKIMO into shares in AJN. The said gold licences are located within the Kilo-Moto gold province in the north-east of the DRC. AJN further stated that it intends to raise a minimum of $CDN 20,000,000 via the issuance of securities in the capital of AJN and AJN can secure the direct participation rights in these gold projects held by SOKIMO in consideration of AJN issuing common shares equal to sixty percent (60%) of the issued and outstanding shares of AJN post-financing. AJN further claimed, but without providing any evidence, that the transaction is an arm’s length transaction. On completion of the financing and satisfaction of all conditions, AJN and SOKIMO will conclude a legal and technical due diligence within 90 days of signing of the MOU prior to obtaining all regulatory approvals (including approvals from the Canadian Securities Exchange “CSE”) and execution of a final agreement before closing. The “finders of the projects” will be entitled to a 10% “finders’ fee” payable at the close of the transaction on the acquisition of the Projects, which will be settled by the issuance of AJN common shares payable as follows: 6.5% of the “finder’s fee” will be paid to Dathomir Mining Resources SARL, a DRC private entity with suspicious political connections, and 3.5% will be paid to Klaus Eckhof, CEO, President and a Director of AJN. Prior to the closing of the transaction, AJN intends to conduct an interim financing to raise up to $2.0 million at $0.40 per share for general working capital. AJN also announced in this context its plan for a convertible debenture financing to raise up to $1,200,000. These figures appear to be absolutely ridiculous considering the mineral resources allegedly being acquired by AJN. The 90-day due diligence period provided under the Memorandum of Understanding normally expired on April 17, 2020.
• On March 3, 2020, AJN issued a second news release, without being mandated to do so, titled “Official communication from the Democratic Republic of Congo Minister of Portfolio”, announcing that the DRC Minister of Portfolio, The Honourable, Professor Clément Kuete Nyimi Bemuna, has officially verified their Memorandum of Understanding with SOKIMO and the Minister of Portfolio has stated that his supervision and support is based on objective assessments and is in accordance with the vision of the President of the DRC, His Excellency, Mr. Félix Antoine Tshisekedi Tshilombo whereby SOKIMO, a commercial company, is free to reflect on any economic model that can ensure its survival and development through dividend access. It should be noted that SOKIMO is actually a 100% state-owned company.
• On April 14, 2020, AJN issued a news release touting the magnitude of the mineral resources allegedly contained in the projects covered by the Memorandum of Understanding signed with SOKIMO under the heading “AJN Resources Inc. Announces Defined Historic Mineral Resources of More Than 6 Million Ounces of Gold and Update on the North Congolese Gold Project”.
• On April 15, 2020, as a result of a review of AJN’s news release dated April 14, 2020 by the Investment Industry Regulatory Organization of Canada (IIROC), AJN issued a corrective notice changing the headline of the April 14, 2020 news release to “AJN Resources Inc. Announces Update on the North Congolese Gold Project”.
• Illegal, manipulative, deceptive and corrupt activities by AJN.

1. As noted above, this complaint is filed by the Complainants to help the competent Canadian securities authorities to detect, disrupt, and deter securities gross misconduct by AJN.

• The Complainants believe that AJN deliberately engaged in illegal, deceptive and corrupt activities in connection with the representations made on the transaction with SOKIMO, their purported right to acquire indirect 30-35% free carried interests on 13 mining licences in the DRC and the resources allegedly contained in the relevant mineral projects. We provide below the reasons for our contention.
• AJN has not acquired any enforceable right whatsoever under the Memorandum of Understanding dated January 18, 2020 entered into with SOKIMO which would have justified its various news releases.
• It is puzzling and highly suspicious to note that in its news release dated January 18, 2020, AJN claimed that SOKIMO “proposed” to obtain from AJN the conversion of its rights to a direct participation in various gold licences held by SOKIMO into shares in AJN and, at the same time, announced that the so-called “finders of the projects” will be paid a 10% “finders’ fee” at the close of the transaction. If such proposal has been made directly to AJN, it is unclear why commissions would be payable to certain individuals, including the President and Director of AJN and a third-party company, Dathomir Mining Resources LLC.
• AJN lacks the necessary financial resources to carry out large-scale projects comprised of the 13 mining licences covering 3,801km2. AJN is not a company with mining experience. Currently, AJN does not own any mining asset other than an option right to acquire an exploration-based lithium mine of the Salt Wells, Nevada, from Great Basin Oil LLC. AJN has not developed any gold or other mineral deposit in the past. Nowhere on AJN’s website is it mentioned that the company has already carried out a single mining operation, except for drilling its first drill hole at the Salt Wells lithium project referred to above, as announced in its news release dated August 21, 2019.
• According to Article 182 of Law No. 007/2002 of July 11, 2012 as amended and supplemented by Law No. 18/001 of March 9, 2018 relating to the mining code (the “DRC Mining Code”), when a “State portfolio company contributes a mineral deposit, either to an existing company or in view of the establishment of a new company, the equity interest of such company to the existing company or the company to be established is set according to the actual value of the mining deposit being contributed…”.
• The relevant mining licenses being exploitation permits, AJN is required to demonstrate, in accordance with Article 71-b of the DRC Mining Code, the existence of the required financial resources, including source of finance, to successfully develop the projects according to a financing plan for the development of each mine, construction and exploitation works as well as the rehabilitation plan for the sites upon closure. Moreover, the shareholders of AJN will be required to provide equity financing which cannot be less than 40% of the project finance.
• AJN has violated the information rules applicable to companies listed on the Canadian Securities Exchange while reporting results without any valid technical basis. Indeed, AJN has not conducted and financed any technical study or any relevant technical due diligence in respect of the 13 mining licences and is using misleading technical data of dubious validity gathered here and there with a view to induce the subscription, sale or purchase of its shares by investors.
• AJN also allegedly plans to use a nominee company to justify a grotesque financial scheme, which is akin to money laundering.
• Suspicion of corruption would weigh on the Memorandum of Understanding dated January 18, 2020 entered into with SOKIMO to acquire all of SOKIMO’s interests in the mining projects referred to above. Knowing the operating procedures of certain operators and agents involved in this transaction, the Complainants believe, based on information received from reliable sources, that AJN officers and certain other affiliated people would have promised undue and illegal benefits to SOKIMO officers as soon as the mobilization of funds from the Canadian Securities Exchange is effective.
• In light of the foregoing, the Complainants believe that the reported actions constitute a scam and a serious violation of the relevant provisions of both the CSE Trading Rules and the Universal Market Integrity Rules, of the Investment Industry Regulatory Organization of Canada (IIROC).
• To prevent the completion of this mafia-like transaction that could cause serious harm to both investors and the Congolese people, the Complainants urge the regulatory body to not give its approval to AJN in relation to this transaction without first conducting a thorough investigation and inquiry into the conduct, business and affairs of AJN as they relate to the transaction being negotiated by AJN with SOKIMO and to take, if warranted criminal, civil action or any other relevant sanction.

Dated: April 30, 2020

Respectfully submitted,

The Complainants listed below.

Appendix A

Names and contact details of the signatory organizations and platforms

N°	Names	Organizations	Contacts
1.	Ernest MPARARO	LICOCO	+243816049837
2.	Franck FWAMBA	TOUCHE PAS A MON COBALT	+243810348785
3.	Henri MUHIYA	CERN/CENCO	+243810526141
4.	King MUSHILANAMA	HDH	+243997013407
5.	Timothée MBUYA	JUSTICIA	+243994075131
6.	Jeef KAZADI	PRESS-CLUB RDC	+243810241942
7.	René NGONGO	OCEAN	+243998334500
8.	Schadrack MUKAD	COORDINATION CADRE DE CONCERTATION DE LA SOCIETE CIVILE DU LUALABA	+243815388040
9.		CASMIA	+243992520444
10.		LINAPEDHO	+243819842267
11	Mike LAMEKI	ESPOIR ONG	+243978646773
12.	Georges BOKUNDU	SARW	+243817070127
13.	Devoe NGOY	RND ASBL	+243816092845
14.	Jean-Luc KAYOKO	PODEFIP	+243815888985
15.	Antoine MUNGU ETSONI	SOCIETE CIVILE FORCES VICES DE WATSA	+243813611733
16	Jean-Cephas GOMISAME	CORDINATION TERRITORIALE DE LA NOUVELLE SOCIETE CIVILE DE WATSA	+243823480365
17.	Dieumerci THUAMBE ADUBANGO	SECRETARIAT NATIONAL DU RESEAU DE COMMUNICATEURS DES RESSOURCES NATURELLES	+243817417307

Media Contacts :

– Ernest MPARARO, Email : licocordc@gmail.com

– Dieumerci THUAMBE ADUBANGO, Email : dieumercilapresse@gmail.com

– Franck FWAMBA, Email : pressclub.rdc@gmail.com

– Antoine MUNGU, Email : antoinemunguetsoni@gmail.com

– Henri MUHIYA, Email : hmuhiya@gmail.com

– Georges BOKUNDU, Email : GeorgesM@sarwatch.org

Adresses :

– N° 14, Av Lwango, Quartier 1, Ndjili, Kinshasa, RD Congo.

– N° 129, Av Kasaï, Lubumbashi, Haut-Katanga, RD Congo.

– N° 4, Av de la Justice, Quartier Bankoko, Commune Mbunya, Bunia, Ituri, RD Congo.

– N° 2, Rue Planteki, Bld Lumumba, Commune Kibali, Watsa, Haut-Uélé, RD Congo.

– Bureau de la Société Civile, Immeuble John Namate, Quartier 75, Commune Mongali/Durba,

Haut-Uélé RD Congo.

– Bureau de l’ONG SAIPED (non loin de la Radio Rhinocéros), Quartier Farange, Cité de Faradje,

Haut-Uélé, RD Congo.

– N° 533, Route Likasi, Q/Joli Site, Commune de Manika, Kolwezi, Lualaba, RD Congo.

 

[Winenut]

It is increasingly clear that Nige and the team need to seriously be put under the grill at the next Roadshow in relation to the status of that carved out Northern section of 13359.....that's assuming there hasn't been an official announcement via ASX beforehand which I think there fucking well should be!!!

Questions off the top of my head:

• WTF is going on with the announcements from AJN in relation the northern section of CDL?
• Have you been aware of an agreement between AJN and the DRC government if so for how long?
• Why the fuck did you give the Perth Roadshow a little throw-away line ...."Oh we don't like CDL that much really ....too much mica"?
• Did @solo get it right when he posted the analysis results of RD and CDL which seemed to show in fact RD has a fucking higher % of mica than CDL?
• Is fucking Felix truly on side and is he going to fucking step in and sort out the fucking corrupt shitshow at CAMI?

There's plenty more

Seriously this shit has to be sorted out and really fucking quickly

Really pissed off over these last fucking manouvres and announcements by AJN which fly in the face of the paper bag and snacking regime being reigned in by Felix

 

[Sammy_da_Smile]

Any NEW ZEALANDERS IN HERE!?!?
trying to get nz roadshow info and I'd have a better chance of avz getting the ML by end of day!!

My take is you emailed Jodie and didn't get a response and now you are planning to gate crash hahaha

 

[Flight996]

$5.85 u.s. before mining!?!?

Yes, that's why it's just 3% of JORC.
It takes into account CAPEX and funding costs for Cu mining only. Rehabilitation of the power station is a significant cost that need to be considered, but is not captured by the 3% heuristic.

Cheers
F

 

[JAG]

Can anyone at the Perth presso fill in the gaps and confirm. I was writing notes when the slide of conspirators was on show.

Thanks

1. MUPANDE
2. JC Kabongo(caught in the lie)
3. Fortunato(ask Ben or Jag for clarity)
4 a Minster _____________ (ask)
5. Simon Cong
Main detractors of AVZ shown in 2nd half prezo

 

[Sammy_da_Smile]

Can anyone at the Perth presso fill in the gaps and confirm. I was writing notes when the slide of conspirators was on show.

Thanks

1. MUPANDE
2. JC Kabongo(caught in the lie)
3. Fortunato(ask Ben or Jag for clarity)
4 a Minster _____________ (ask)
5. Simon Cong
Main detractors of AVZ shown in 2nd half prezo

Should we be careful with this? 🫣

 

[JAG]

Should we be careful with this? 🫣

Nope, but feel free to message it to me

 

[LOCKY82]

My take is you emailed Jodie and didn't get a response and now you are planning to gate crash hahaha

Almost correct! Me and Jodie are now pen pals
And if I can get some details I'll be there!