AVZ Discussion 2022
- Thread starter GazDix
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TDITD
Top 20
IGF Report if anyone anywants a hard copy
https://igf.gouv.cd/uploads/rapports/Rapport-IGF-sur-COMINIERE-S-A-6387826ba915e.pdf
https://igf.gouv.cd/uploads/rapports/Rapport-IGF-sur-COMINIERE-S-A-6387826ba915e.pdf
What a shame. Any other company announce 144m@1.75% and they’d be running down the street naked.Haha some fucking drill results!
We just like meh
TDITD
Top 20
By an large the IGF Report is a good read condemning the scum at Cominiere and also MOP, confidently painting them as criminals. Dathomir too receive a fairly solid kicking.
However the part about Dathomir selling 60% to AVZ which it says is illegal essentially after violations of the provisions of the JV contract, this did concern me a little at first read. But if taking the report in its entirety one would realise that the report is about crooks breaking the law for their own benefit and looting from the DRC. Its focused-on laws being broken and by who, we are just the customer who brought a raw tenement.
That raw untouched tenement (under their corrupt hands) AVZ have gone on to spend over $100 million on proving up the worlds largest lithium deposit.
AVZ/Dathcom are currently being blocked from continuing on with our progress in starting construction on the project itself. I have very little fears we will be punished for Dathomir and Cominieres complicity in ripping off the citizens of the DRC, however Dathomir and Cominiere wont fair so well......Simon Cong say hello to the pineapple !!!
However the part about Dathomir selling 60% to AVZ which it says is illegal essentially after violations of the provisions of the JV contract, this did concern me a little at first read. But if taking the report in its entirety one would realise that the report is about crooks breaking the law for their own benefit and looting from the DRC. Its focused-on laws being broken and by who, we are just the customer who brought a raw tenement.
That raw untouched tenement (under their corrupt hands) AVZ have gone on to spend over $100 million on proving up the worlds largest lithium deposit.
AVZ/Dathcom are currently being blocked from continuing on with our progress in starting construction on the project itself. I have very little fears we will be punished for Dathomir and Cominieres complicity in ripping off the citizens of the DRC, however Dathomir and Cominiere wont fair so well......Simon Cong say hello to the pineapple !!!
TDITD
Top 20
That extra 15% we are after may become a little harder to get though ?
But WTF do I know. Lets hope our BOD and employed hands (who have done great so far) are working hard to present a great deal to get us that piece of the puzzle !
Drilling results are little on the small side
(for us, anyone else ITS HEADLINE NEWS)
DiscoDanNZ
Regular
TDITD
Top 20
Fuck right off with that
"hole MO22DD005 from 8.7 metres to 10 metres downhole grading 3.41% Li2O"
Jesus christ many companies are making a living on 10mt intercepts at 1.1%, here we are 8mts from surface hitting mts @ 3.14 % Li2O within a 'smaller' hit of 114.99 mts @ 1.52% Li2O
Levels people, Levels
"hole MO22DD005 from 8.7 metres to 10 metres downhole grading 3.41% Li2O"
Jesus christ many companies are making a living on 10mt intercepts at 1.1%, here we are 8mts from surface hitting mts @ 3.14 % Li2O within a 'smaller' hit of 114.99 mts @ 1.52% Li2O
Levels people, Levels
So in that case it's not Zijin's fault either . Really it's just another can of worms that's been opened .
TDITD
Top 20
true from their perspective its not Zijins fault.
BUT our JV contract says we have first dibs, we weren't given it by Cominiere who this report shows to have been working complicitly to undermine the state in favour of snacks. If anything it hasn't opened another can, but helped us in showing Cominiere are pieces of corrupt shit who worked with Zijin to undermine Dathcom & AVZ
Winenut
GO AVZ!!!!
"However the part about Dathomir selling 60% to AVZ which it says is illegal essentially after violations of the provisions of the JV contract, this did concern me a little"
This is the part I am currently trying like shit to get my head around???
Are they saying in the report that the purchase of 60% by AVZ was in fact illegal in itself.....violating the terms of the Dathomir JV Contract
And then this posted by JAG
So is that 60% safe????
If so where has it subsequently been addressed and assessed as safe/not illegal???
I have to say it....it's been a while .....but this fucking circle-jerk is doing my head in!!!
The Fox
Regular
"However the part about Dathomir selling 60% to AVZ which it says is illegal essentially after violations of the provisions of the JV contract, this did concern me a little"
This is the part I am currently trying like shit to get my head around???
Are they saying in the report that the purchase of 60% by AVZ was in fact illegal in itself.....violating the terms of the Dathomir JV Contract
And then this posted by JAG
View attachment 23293
So is that 60% safe????
If so where has it subsequently been addressed and assessed as safe/not illegal???
I have to say it....it's been a while .....but this fucking circle-jerk is doing my head in!!!
I'm going with the glass half full view of this section of the report.
Some relevant comments to share:
There is no statement that AVZ has done anything illegal. (and this was the case in the extracts of the full IGF report early this year as well)
It criticises Dathomir for selling shares when it should not have, yet the report does not state the transaction was illegal or void, but breaches an an article of the JV agreement, not the DRC mining code or they would have mentioned that.
The focus of the balance of this section in the report makes complaint about Dathimor not providing any input value yet taking large profits. (Something AVZ has not been accused of)
Others will have more information, however I recall the JV agreements / shareholder agreements with Cominiere being re-struck after the above event.
The sale of shares to AVZ from Dathomir is stated as a matter of fact, not a complaint on AVZ is my glass half full take.
Obviously the above section / sentence will cause some concern, yet there has been no dialog on reversing this transaction or reshuffling the deck (ownership) by the IGF in the body of the document or in the conclusion.
It would be helpful to have the full report in hand that was completed earlier in the year to correlate this summary and changes since. I hope Franck will share eventually.
What can be investigated further is something that was raised by another holder here, the reference to "article 16 point ( f )" may have been in earlier version of the JV/Shareholders agreement that was reportedly replaced in 2019 (I suspect), yet this is stretching my memory, I'm sure others can dig into more detail. Or correct me if my memory serves me wrong.
Cheers The Fox
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