Sammy_da_Smile
Regular
Are I see
AVZ Discussion 2022
- Thread starter GazDix
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One Happy Camper
I’m only sticking to reading views expressed on this forum from now on. I’m sure you all agree it’s a stressful time right now. Dark imaginings can work into the thoughts of even the hardiest LTH’s, and it’s not helped by the trolls that are preying on sensible peoples minds that have turned to question the cause of the constant delays. Thankfully this forum and its contributors are 99% rational, even when freaking the hell out… like I am with the delays. This is just honest, it sucks not knowing what’s going on right?
Anyway, after reading Free’s posts today I would surmise that CATH are not going to payout until the ML is signed. The reason they waived all conditions was to legally show that the monies agreed upon for finance are immediately available, a condition stipulated by the DRC government. Sometimes it’s the legally binding words in a document that meets the requirement rather than the actual cash being transferred. No I’m not a lawyer but my brother is…
Its obvious to me that the original DFS did not cut it with either the DRC government negotiations or the technical approval. They would of had to submit a new one (in French). Nigel previously stated this is time consuming and especially so with technical matters. Im also assuming there are a plethora of rouge agents within the DRC government wanting things done the old way. We are talking about Africa after all, a country only recently divested of a totalitarian leader. We should all be kissing Nigel’s ass in my opinion as he has withstood all of this to get all four approvals through required for a ML, he secured major technical partner in CATH (probably the best in the world) and negotiated off takes successfully for the majority of product.
A lot of you probably thought why not just pay who needs to be paid to get the deal done right… wrong! If Nigel greased the hands of any Government member (for a favourable outcome) it would give the rogue agents in the DRC government precedent to strip AVZ of all licensing rights in the blink of an eye. So place yourself in Nigel’s shoes for a moment and see if you could have gotten the company to this point In that environment. Do any of you have balls as big as his? Maybe Jag has as he has to service all those girls
, but the rest of us I think not.
Nigel and all the people at AVZ office have almost done the impossible when you think about it.
ML soon everyone, it probably hasn’t been this imminently close since we have all been LTH’s
Peace
Anyway, after reading Free’s posts today I would surmise that CATH are not going to payout until the ML is signed. The reason they waived all conditions was to legally show that the monies agreed upon for finance are immediately available, a condition stipulated by the DRC government. Sometimes it’s the legally binding words in a document that meets the requirement rather than the actual cash being transferred. No I’m not a lawyer but my brother is…
Its obvious to me that the original DFS did not cut it with either the DRC government negotiations or the technical approval. They would of had to submit a new one (in French). Nigel previously stated this is time consuming and especially so with technical matters. Im also assuming there are a plethora of rouge agents within the DRC government wanting things done the old way. We are talking about Africa after all, a country only recently divested of a totalitarian leader. We should all be kissing Nigel’s ass in my opinion as he has withstood all of this to get all four approvals through required for a ML, he secured major technical partner in CATH (probably the best in the world) and negotiated off takes successfully for the majority of product.
A lot of you probably thought why not just pay who needs to be paid to get the deal done right… wrong! If Nigel greased the hands of any Government member (for a favourable outcome) it would give the rogue agents in the DRC government precedent to strip AVZ of all licensing rights in the blink of an eye. So place yourself in Nigel’s shoes for a moment and see if you could have gotten the company to this point In that environment. Do any of you have balls as big as his? Maybe Jag has as he has to service all those girls
, but the rest of us I think not.Nigel and all the people at AVZ office have almost done the impossible when you think about it.
ML soon everyone, it probably hasn’t been this imminently close since we have all been LTH’s
Peace
Sammy_da_Smile
Regular
RDC : les autorités sollicitent l’appui des banques locales pour produire des batteries électriques
Les récents rapports sur l’énergie indiquent que certains minerais stratégiques et les terres rares auront un rôle de plus en plus important dans la
Creation date: April 27, 2022 4:19 p.m.
DRC: authorities seek support from local banks to produce electric batteries
Recent energy reports indicate that certain strategic minerals and rare earths will have an increasingly important role in the energy transition. The DRC, one of the main producers of these minerals, wants to position itself to take advantage of this opportunity.
Antoinette N'Samba Kalambayi (photo), the Congolese Minister of Mines, urged the financial institutions established in the DRC to support the efforts of the authorities aimed at providing the country with an efficient factory for the production of electric batteries.
The leader, who spoke at a forum organized by the Faculty of Polytechnics of the University of Lubumbashi, explained that in the context of energy transition, the country intends to position itself as a "solution country" through its natural resources such as lithium, cobalt and nickel.
One of the solutions to global warming is to replace thermal cars with electric cars, road transport being one of the most polluting sectors in the world. However, the construction of electric cars, in particular their batteries, requires a large quantity of copper, lithium and cobalt. Thus the demand for these minerals has increased sharply in recent years. And it is precisely by responding to this request that the DRC could be a “solution country” , as the minister suggests.
The country currently provides 50% of the world's cobalt supply. However, it is only an exporter with very little participation in the value chain. If the government's plan is activated and implemented, this will allow the country to produce batteries and electric cars and therefore better benefit from the economic benefits of this booming sector.
Hemicuda
Regular
link didn't work bud
CashKing
Regular
It’s because I bought some at $1.005 yesterday mate, always happens to me & sorry in advance I won’t mess with my average again but it is tempting on the cusp of ML Ann
Ashlee
Regular
Free couldn’t agree more I was a bit taken back by some of the posts today.
Frank
Top 20
AVZ Minerals secures funding for Manono over March quarter as Mining licence pends
AVZ Minerals invested $2.9 million in exploration during the last quarter, as it prepares to ramp up activities at the Manono project in the Democratic Republic of Congo (DRC).
The company has been in discussion with the DRC government, which is currently completing a Mining Licence assessment.
Following a favourable technical opinion, AVZ said it is confident it will receive all necessary approvals and has chosen to invest $25 million in an early works program.
“The decision made by the Board in early February to commit $25 million to an early works and exploration program further demonstrated our confidence in bringing the Manono Project to development,” Managing Director Nigel Ferguson said.
“Undertaking this early works program in the second half of FY22 will assist the company to maintain our development timetable for the Manono Project.”
Over the period, the company continued work to secure debt funding for the development capital required for the Manono project.
It extended its agreement with Suzhou CATH Energy Technologies to secure $240 million in exchange for a 24 per cent interest in the project.
However, the agreement extension is due to expire at the end of this week.
If the deal with CATH closes successfully, AVZ will have 90 per cent of the required project development capital.
The quarter saw the company record negative cash flow of $1.3 million, which was mostly directed towards administration costs.
However, it said it remains well funded for future activities, finishing the quarter with $70.6 million in cash.
https://***************.com.au/avz-...h-quarter-as-mining-licence-pends-2022-04-28/
Frank
Top 20
*To Remind,
The 25% is not owned by the DRC Government. It is owned by Cominiere.
COMINIERE SA's share capital is 90% owned by the Congolese state through the portfolio ministry and 10% by the national social security institute.
Dathomir is the holding company of the Manono lithium and tin project.
At this very moment AVZ owns 75% of Dathomir
Cominiere owns 25% of Dathomir.
AVZ is about to sell 24% of its 75% of Dathomir to CATH and is trying to buy it 15% of Dathomir from the 25% Cominiere holds.
The value of Cominiere's 25% of Dathomir has to be seen in light of who paid and took the risk for the development of the Manono lithium and tin project.
At the end of the above process, the agreement was that Cominiere would transfer its remaining 10% to the DRC government as per the ML legal requirements.
A little convoluted, but that is the situation as far as I understand.
As mentioned now several times the 30 days for the ML to be processed by the Mining department are business days, not working days.
So 5 business days in a week and the Easter Long Weekend has to be taken into account.
So don't be too surprised, if the ML doesn't get granted tomorrow, or get announced on Monday.
Don't forget the 7 hours time difference between Perth and Kinshasa and 9 hours between Sydney and Kinshasa.
The 25% is not owned by the DRC Government. It is owned by Cominiere.
COMINIERE SA's share capital is 90% owned by the Congolese state through the portfolio ministry and 10% by the national social security institute.
Dathomir is the holding company of the Manono lithium and tin project.
At this very moment AVZ owns 75% of Dathomir
Cominiere owns 25% of Dathomir.
AVZ is about to sell 24% of its 75% of Dathomir to CATH and is trying to buy it 15% of Dathomir from the 25% Cominiere holds.
The value of Cominiere's 25% of Dathomir has to be seen in light of who paid and took the risk for the development of the Manono lithium and tin project.
At the end of the above process, the agreement was that Cominiere would transfer its remaining 10% to the DRC government as per the ML legal requirements.
A little convoluted, but that is the situation as far as I understand.
As mentioned now several times the 30 days for the ML to be processed by the Mining department are business days, not working days.
So 5 business days in a week and the Easter Long Weekend has to be taken into account.
So don't be too surprised, if the ML doesn't get granted tomorrow, or get announced on Monday.
Don't forget the 7 hours time difference between Perth and Kinshasa and 9 hours between Sydney and Kinshasa.
cruiser51
CashKing
Regular
After the last couple of days let’s just take a Deep Deep Breath of fresh air…
It’s painful but it’s happening & you cans still see how many traders are all over AVZ with today’s SP action, people freak out over 5%-10% , up down up down, TH will stop this however I thing just let the announcements roll
The pesky shorters are not helping….
GLTAH
Winenut
Go AVZ!
Like exactly who and what posts have you "taken back" there Ashlee?
Clue me in on the details that you're concerned about so we can discuss them and alleviate your apparent concerns
Winenut
Go AVZ!
George, George please....restrain yourselfDon’t worry everyone, NF and his vocal BoD have got everything under controlit is all Peaches & Cream". ML and 240M US in the bank tmw, surely.
SP $1.50 plus by end of day, friday
You wouldn't want to go off too early there would you....
Sammy_da_Smile
Regular
Few points from the Germany presso. Short summary captured below. Further comments are on the site that must not be named, from those who attended.
We just need to sit back and relax. News coming out of the DRC is still very positive regarding their battery ambitions. Whilst it is frustrating the wait, I'm sure it will unfold soon enough
We just need to sit back and relax. News coming out of the DRC is still very positive regarding their battery ambitions. Whilst it is frustrating the wait, I'm sure it will unfold soon enough
Thanks Sammy for that !Few points from the Germany presso. Short summary captured below. Further comments are on the site that must not be named, from those who attended.
We just need to sit back and relax. News coming out of the DRC is still very positive regarding their battery ambitions. Whilst it is frustrating the wait, I'm sure it will unfold soon enough
View attachment 5189
It appears that the only entity trying to fast forward Manono is AVZ.
Despite no ML, AVZ still doing the heavy lifting by committing $25m for earthworks and other preparations for construction of mine, meanwhile Cath & DRC Govt still sitting on their hands .......surprise, surprise.
Its no wonder that investors are a little skittish !
imo
Sammy_da_Smile
Regular
Yeh and the information stating CATH are waiting for ML is confirmed now from the presso. So that makes sense the extensions, though previous ann's stated this requirement to be waived, a little more info in the next extension would be nice.
I had been trying to find tenders and the like online for such pre work activities. Found nothing, though expected as much. I have no experience or knowledge in this field. No idea the process if someone has any background in it?
I had been trying to find tenders and the like online for such pre work activities. Found nothing, though expected as much. I have no experience or knowledge in this field. No idea the process if someone has any background in it?
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