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This is brilliant Beisha, thank you!!Hi All
Well i went to the AGM today , ably assisted by @tonster66 & @Scoota30
Had a great chat and catch up with those 2 lads , then headed to the AGM " ball room "
Nice professional look, all the BOD were wearing their best bathing suits, even John clark ...
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I dressed like a bogan, brown shorts with no belt, (fallling and exposing butt crack from time to time.....), grey shirt and thongs......
The attendance was full, some folk were standing, unbeknown to me at the time ,I can confirm DEBOSS was there and i had a good chat with him after the meeting..........will tell more of that chat later.
AGM started with ALL resolutions PASSED with a big majority in the................YAH.
John Clark then highlighted the achievements of AVZ, then finished with the aggrievements ......as in the corruption and subsequent suspension , holding AVZ back.
After John finished his intial address, Nigel explained that chinese entities in cohorts with corrupt DRC officials enacted a massive misinformation / smear campaign about AVZ to FT whilst the initial stages of COVID was playing out, with Nigel & Co out of country and no other BOD member close to the " pulse "
Nigel then mentioned that alot of work is being done behind the scenes righting the wrongs of the smear camaign thru clear and concise documentation , which is slowly working thru the system , giving Felix more insight as to whats really going on.......
Apparently after the ML decree was announced , the BOD sensed a massive shorting campaign going on with the SP , so decided that was the TRIGGER to go in to VS.
Also mentioned the disinformation regards to Hot crapper and other sites ( not sure BOATMAN was mentioned ) as other catalyst to the deteriotation of the AVZ SP.............so if you think BODS dont read social media.........you know now !
I could sense the frustration / anger leaking out of Nigel and the BODS veins at this time.
Then a glossy slide show proceeded, in BOLD was AVZ HAVE GOOD LEGAL TITLE to 75%.......unequivocal
PRE ML AVZ 75%.........................COM / DRC 25%
PPOST ML AVZ 51% CATH 24%...................COM 15%.........DRC 10%
MOU with DRC Govt regards to refurbishment of MPIANA MWANGE plant..............safe & secure.
Cash at hand.........$48m
They were the key take aways from that.
THEN QUESTION TIME.
I am not going to lie, i controlled the floor, yes , my REAL name is JASON for those wondering whether it was BEISHA or JAG asking the questions.......
So here is my update.
1 ) What is the core reason why the ML has not been received ?.............Dathomir / Zijin ICC or CAMI ?
Answer.................CAMI..............illegally holding back surface rights docs etc
AVZ will only release the suspension once, ML is awarded, this does not depend on out comes regards to DATHOMIR / ZIJIN ICC................NIGEL super confident neither has a case ( spurios with no legal effect )
Mentioned that ICC arbitration / deliberations will be " open door "...........not closed, giving the impression that ZIJIN will eat humble pie with a wide audience...........
2 ) I then followed up with the ANNEXURE of northern CDL on Cami website
Apparently, because AVZ had not drilled any holes in the northern section, then this was the reason it was excluded as the only drill holes executed were done in the southern section.
Did AVZ drop the ball there ? I didnt ask that unfortunately..........it is what it is.
Nigel mentioned he is fighting hard to get a 5 yr exploration renewal on the northern section , but that is not guaranteed .
3) Well then i followed up and mentioned there was alot of conjecture regards to AJN claiming the northern section of CDL but before i could elude to POTENTIAL CONFLICT of INTEREST pertaining to Nigel still owning a heap of shares in AJN, Nigel must of anticipated that coming and cut to the chase..........
NIGEL was a director and owned shares in AJN when they were a GOLD play, no interest in any lithium play previously.
Once Nigel found out that AJN were potentially seeking a lithium acquisition ,he resigned as director immediately, but maintains his share holding in AJN is NOT a conflict of interest because he bought them ages ago.......
Hmmmmmmmmmm......take that as you will.
4) I asked the BOD if SEZ , UPDATED DFS , FID etc has been delayed by Dathomir / Zijin / corruption , not sure i got a clear answer to that, Nigel mention SEZ is still some way off being complete, so nothing to announce yet, the updated DFS is still being collated apparently, will the current infill drill program at RD be included with an updated price ?
Not sure, but he did mention the current drill program is 2/3 complete , with assay results due Q1 2023 some time.
5) I asked if AVZ had a plan B , ( if for some reason AVZ loses its court battles with DATHOMIR / ZIJIN ) regards to CATH 24%...........
Plain answer was...............NO
AVZ very confident in their legal rights regards to Dathomir / Zijin............AVZ has good relations with CATH, they just want supply, according to Scoota / Tonster, there was mention of some flexibility with percentage, but what blew me away, was that Nigel was talking about a potential $400m contribution from CATH in its entirety, so dont think CATH is a issue here.
6 ) I didnt get to ask CONTINUOUS DISCLOSURE question, but i was reliably informed from some big hitters after the meeting , that " rumblings " , "inuendo ", " conjecture " dont fall into the category of continuous disclosure.
It must be official news.
7) SCOOTA asked a @Chilla question..........
Directors insurance has risen from $90k in 2021 to $513k in 2022......why ?
Has there been any claims against this policy in the last 2 yrs ?
ANSWER...........NO claims being made against the policy, price increase due to the elevated status of AVZ going from explorer to construction / production...............price of doing business.
BTW, all that conjecture about MR G Johnson 3Yr jail term / $500, 000 fine ( forgery ) is a load of BS, that was part of the SMEAR campaign via Dathomir 15% transfer to AVZ / DATHCOM.
He mentioned his name / reputation has been dragged thru the mud, but no case to answer.
8) I asked about a potential time line regards to production of RD.............Nigel mentioned that its about a 2 yr build for the processing plant, suggested mid 2024.
There were a couple of questions i didnt get to ask, but overall Nigel was very accomodating to folks asking questions, couldnt offer exact details due to the litigious nature of what he is dealing with......but i got the distinct impression that AVZ BOD have got their ducks in line due to strong documentation leading to the correct path way.
A couple of extra bits of info......
a) AVZ plan to build a 10m/tpa processing plant straight up, not just a 4.5m/tpa build
b) TANTALEX cant be offered a mining licence for the tailings of RD, only the main operator can be granted that which is of course AVZ / DATHCOM...........albeit , still waiting.
As mentioned before, after the meeting , caught up with DEBOSS.
Talk about not judging a picture frame, small dude, bald, gold chain , open shirt, ripped denims but hasnt sold a single one of his purported 40 million shares.
Spoke to another heavy hitter, a chiropractor with 35 chiro centres all around Australia that he owns, collectively he and a couple of his mates hold 100m shares.
Both nudged, nudged , winked, winked about the ML being awarded mid November..............take that as you will.
Unfortunately they also shared a sobering thought too.......on release of suspension, (with AVZ obtaining ML ) could take a decent tumble due to certain rules instos must do once a coy enters / exits the ASX 200..........there was chatter about a dump to possibly 40c.........
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But then they added, once that initial shock was over, instos would then start buying again, then the SP should rocket there after............food for thought
I mentioned to DEBOSS & CHIRO dude, what happens if AVZ announce ML plus some more sugar ?
They had a wry smile.
Thats all i have guys and girls, i am fucking tired, my mind is blown, all this info came from my head, not from Scootas illegible writings
AFFIRMATIVE, hopefully some time in December.
Thats just a gut feel, nothing more.
As said before, talk is cheap with AGMs / roadshows, my confidence will only be galvanised via the golden bell ASX announcement !!
Time for some Elon musk now
Hope this info helps.
Cheers
imo, imo
. Imo I don’t think the SP will fall as hard and if the Insto’s are sensible they will manage their exit. It wouldn’t surprise me to see a SP increase at close on first day back given that ML is a major derisking and signals the project will move forward to development…..there is a lot of catching up that AVZ needs to do to track the Lithium peer market…..and then of course once the market factors that in then the clearer line of sight to construction and first ore production will continue to lift the company value. Thanks once again guys for asking the questions many wanted asked.
. However I think we've got a ways to go yet.
