AVZ Discussion 2022
- Thread starter GazDix
- Start date
MoneyBags1348
Top 20
Disco I would never allude to you or anyone else as a piece of shit!!
The YouTube clip from The House of Gucci was a reference to Chocolate…. referencing your picture of Willy Wonker referring to the person we suspect of being a Chinese troll.
Oh my goodness, what a lot of explaining…. I’m sure you know I vent my anger at those I feel deserve it, and certainly not you.
As far as waiting for a particular time of day to partake in alcohol consumption, I hope you like this
DiscoDanNZ
Regular
No need to apologise as once I get on the beers I am a piece of shit and so are all mates, it's a term of endearment amongst my friends group actually.
"Big night last night? What did you get up to? Not much, just being a piece of shit"
"What time did you get home? 3 am
God your a piece of shit" etc
Rediah
Regular
People at work talking about festive season and their plans for the break and I am just smiling
while I am dead inside
and want to
while I am dead inside
and want to
DiscoDanNZ
Regular
No need to apologise as once I get on the beers I am a piece of shit and so are all mates, it's a term of endearment amongst my friends group actually.
"Big night last night? What did you get up to? Not much, just being a piece of shit"
"What time did you get home? 3 am
God your a piece of shit" etc
@MoneyBags1348 further to this I won $100 in a raffle at the Leagues club and had to go in to collect it. Figured if they are going to give me money the least I can do is have a beer...
Drinking alone at lunchtime on a Thursday? Piece of shit
I don't think we have enough time on our side for this to be resolved . CATH plan B needs to come into play . Why did Nigel talk about 9% . Why was CATH head at our Perth office ? Why did DEBOSS winky winky ?
JAG
Top 20
DiscoDanNZ
Regular
Two options:
A: formulate a plan for this type of action
B: tell us face to face to get fucked and they aren't extending again.
I'm rethinking more likely plan A.
The Fox
Regular
Samus
Top 20
cruiser51
Top 20
viewAVZ Minerals Ltd
(
ASX:AVZ
)
AVZ Minerals Ltd (ASX:AVZ) is taking legal action to assert its rights to the Manono Lithium and Tin Project in the DRC, bringing an arbitration case to the ICC International Court of Arbitration and preparing a second against La Congolaise d’Exploitation Minière (Cominière) and Dathomir.
This is part of an ongoing legal battle over the ownership split of the Democratic Republic of Congo (DRC) project.
The Manono Project was originally held in a 75:25 split between Cominière and Dathomir in a joint venture agreement (JV) under the Dathcom company.
AVZ Minerals bought into the agreement with the purchase of 60% of Dathomir’s shares in a binding term sheet, which would eventually give AVZ a 60% interest in Manono with Dathomir retaining 15% and Cominière 25%.
In 2019 and 2020 AVZ and its subsidiary entered into two separate binding contracts for Dathomir’s sale and AVZ’s purchase of 15% of the shares in Dathcom, the company through which the Manono Project was held.
At the time of writing, AVZ asserts it owns a 75% interest in Manono and retains the pre-emptive rights to a further 15% of the project’s ownership.
The remaining 10% must be held by the DRC Government under the country’s mining law.
AVZ maintains it has strong prospects of success in the arbitration proceedings, an assertion supported by the current political climate – President Félix Tshisekedi has made ending corruption a focus of his government, especially in the mining industry.
AVZ’s subsidiary completed all requirements for the interest sale in August 2021, ostensibly legally acquiring the 15% interest in Dathcom.
Dathomir maintained its claim of terminating the agreements and denied the validity of the acquisition.
As both agreements are subject to formal, properly constituted arbitration, only a proper tribunal has legal jurisdiction to rule on the dispute.
Dathomir had not moved to begin any such arbitration proceedings as of December 1, 2022, prompting AVZ to bring the ‘First Dathomir Arbitration’ and soon the ‘Second Dathomir Arbitration’ to put an end to the conflict and recover losses from Dathomir.
Cominière, the nationally-held DRC mining company, holds a 25% interest in Dathcom, the holding company for the Manono Project.
The shareholders of Dathcom (AVZ and Cominière) are party to a JV agreement which includes a right of first refusal on proposed transfers of Dathcom shares to third parties.
Under DRC laws, a transfer of shares made in violation of right of first refusal of this kind is null and void.
Cominière purported to transfer shares in Dathcom to a third party (Jin Cheng Mining Company Limited, a subsidiary of Zijin Mining Group Company Limited) in breach of AVZ’s right of first refusal, which is the subject of the Jin Cheng ICC Arbitration Proceedings.
Indeed, the DRC General Inspectorate of Finance's report on the dispute stated: “Cominière has acted in violation of its articles of association in respect of its transfers of mining titles to 'external partners' without obtaining financial guarantees.”
The report went on to describe the Jin Cheng Sale as “subject to a number of irregularities”.
“The company considers it has strong prospects of success in the Dathomir Arbitrations and Jin Cheng ICC Arbitration Proceedings and will vigorously pursue its claims to vindication,” AVZ asserted in an announcement to the market.
(
ASX:AVZ
)
AVZ Minerals takes legal action as it seeks to affirm interests in Manono Project
AVZ Minerals Ltd (ASX:AVZ) is taking legal action to assert its rights to the Manono Lithium and Tin Project in the DRC, bringing an arbitration case to the ICC International Court of Arbitration and preparing a second against La Congolaise d’Exploitation Minière (Cominière) and Dathomir.
This is part of an ongoing legal battle over the ownership split of the Democratic Republic of Congo (DRC) project.
The Manono Project was originally held in a 75:25 split between Cominière and Dathomir in a joint venture agreement (JV) under the Dathcom company.
AVZ Minerals bought into the agreement with the purchase of 60% of Dathomir’s shares in a binding term sheet, which would eventually give AVZ a 60% interest in Manono with Dathomir retaining 15% and Cominière 25%.
In 2019 and 2020 AVZ and its subsidiary entered into two separate binding contracts for Dathomir’s sale and AVZ’s purchase of 15% of the shares in Dathcom, the company through which the Manono Project was held.
At the time of writing, AVZ asserts it owns a 75% interest in Manono and retains the pre-emptive rights to a further 15% of the project’s ownership.
The remaining 10% must be held by the DRC Government under the country’s mining law.
AVZ maintains it has strong prospects of success in the arbitration proceedings, an assertion supported by the current political climate – President Félix Tshisekedi has made ending corruption a focus of his government, especially in the mining industry.
Dathomir claims to terminate agreements
Dathomir claimed to terminate the binding agreements with AVZ via letter on May 14, 2021. The letter did not cite any valid grounds for termination, according to AVZ, nor did it have a legally binding effect.AVZ’s subsidiary completed all requirements for the interest sale in August 2021, ostensibly legally acquiring the 15% interest in Dathcom.
Dathomir maintained its claim of terminating the agreements and denied the validity of the acquisition.
As both agreements are subject to formal, properly constituted arbitration, only a proper tribunal has legal jurisdiction to rule on the dispute.
Dathomir had not moved to begin any such arbitration proceedings as of December 1, 2022, prompting AVZ to bring the ‘First Dathomir Arbitration’ and soon the ‘Second Dathomir Arbitration’ to put an end to the conflict and recover losses from Dathomir.
The Cominière controversy
In a separate but equally unbinding (according to AVZ) attempt to undermine AVZ’s ownership of Manono, La Congolaise d’Exploitation Minière (Cominière) is also in hot water with the company.Cominière, the nationally-held DRC mining company, holds a 25% interest in Dathcom, the holding company for the Manono Project.
The shareholders of Dathcom (AVZ and Cominière) are party to a JV agreement which includes a right of first refusal on proposed transfers of Dathcom shares to third parties.
Under DRC laws, a transfer of shares made in violation of right of first refusal of this kind is null and void.
Cominière purported to transfer shares in Dathcom to a third party (Jin Cheng Mining Company Limited, a subsidiary of Zijin Mining Group Company Limited) in breach of AVZ’s right of first refusal, which is the subject of the Jin Cheng ICC Arbitration Proceedings.
Indeed, the DRC General Inspectorate of Finance's report on the dispute stated: “Cominière has acted in violation of its articles of association in respect of its transfers of mining titles to 'external partners' without obtaining financial guarantees.”
The report went on to describe the Jin Cheng Sale as “subject to a number of irregularities”.
“The company considers it has strong prospects of success in the Dathomir Arbitrations and Jin Cheng ICC Arbitration Proceedings and will vigorously pursue its claims to vindication,” AVZ asserted in an announcement to the market.
Samus
Top 20
Once again the media can't get the facts straight, spouting a pack of bullshit and confusing the issue.
"AVZ and AVZI have brought the First Dathomir Arbitration, and will bring the
Second Dathomir Arbitration, to affirm AVZI’s acquisition in August 2021 of the
aforesaid 15% interest in Dathcom, to put an end, once and for all, to Dathomir’s
claims and to recover losses sustained from them."
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