AVZ Discussion 2022

[JAG]

 

[JAG]

 

[JAG]

 

[Samus]

Manono lithium mine - Violations of the JV contract by AVZ: COMINIERE has the right to recover the mining rights which are the subject of its contribution (tribune)​

According to AVZ's announcement on the Australian Stock Exchange (ASX), AVZ submitted the final feasibility study of Dathcom to the Department of Mines in April 2021 and received the positive opinion from the Department of Mines.
The final feasibility study submitted by AVZ, which includes Dathcom's monopoly management rights, is a serious breach of the Joint Venture contract. Articles 6.2 and 6.4 of the Joint Venture contract clearly stipulate the submission deadline and the approval procedure for the pre-feasibility study and the feasibility study. Unfortunately, AVZ, responsible for writing the feasibility study, not only suffered a serious delay in the writing time, but moreover, it did not submit it to COMINIERE for examination in accordance with the Joint-Contract. Venture, nor obtained the authorization of the board of directors and the assembly of shareholders of Dathcom.
Consequently,
As a reminder, the exploration permit number PR 13359 expired in December 2021. The National Ministry of Mines has not granted an exploitation permit (PE). Dathcom is therefore operating without a license and any operation is illegal.
Notes: Articles 6.2 and 6.4 of the JV contract state that:
1. Article 6.2: Transmission of the Preliminary Feasibility Study
The Preliminary Feasibility Study must be submitted by DATHCOM Mining SAS to COMINIERE SA for examination within thirty-six (36) months following the date of the first deadline. At the end of a meeting which must be held between the parties at least one (1) month before the expiry of the aforementioned thirty-six (36) month period, the Parties may decide to extend this period Up to twelve ( 12) additional months (the "Preliminary Feasibility Period". In the event that the Preliminary Feasibility Study is not submitted to COMINIERE SA within the preliminary feasibility period, COMINIERE SA shall be entitled to terminate this Contract

2. Article 6.4: Communication of the Feasibility Study
The Feasibility Study must be submitted by DATHCOM Mlning SAS to COMINIERE SA for review, within sixty (60) months following the date of the first due date. At the end of a meeting which must be held between the parties at least one (1) month before the expiry of the sixty (60) month period mentioned above, the parties may decide to extend this period up to twelve (12 ) additional months (the “Feasibility Period”).
Christian Kakule

Mine de lithium de Manono - Violations du contrat de JV par AVZ : la COMINIERE a le droit de récupérer les droits miniers qui font l’objet de son apport (tribune)

Selon l'annonce de AVZ à la bourse australienne (ASX), AVZ a soumis l'étude de faisabilité finale de Dathcom au ministère des Mines en avril 2021 et a reçu l'avis favorable du ministère des Mines.

7sur7.cd

 

[DiscoDanNZ]

View attachment 23611

Love how that pic pops up quite regularly now from different people

 

[Roon]

Love how that pic pops up quite regularly now from different people

Agreed its my second favourite - only to this masterful piece from @Sammael

 

[CHB]

Whilst driving home today the car in front had the license plate "DRC"

It's a sign boys.

 

[Remark]

Whilst driving home today the car in front had the license plate "DRC"

It's a sign boys.

I'm surprised it didn't reverse into your car & say that you hit it...

 

[Rediah]

Whilst driving home today the car in front had the license plate "DRC"

It's a sign boys.

what are the odds, as I am reading your message and watching this....

@Remark I am hoping the robot wont become self-aware and start a war...

 

[DiscoDanNZ]

I'm surprised it didn't reverse into your car & say that you hit it...

Then beaten you up and taken the cash from your wallet then when the cops show up claimed they aren't the driver and were merely walking passed.

 

[Deleted member 1612]

Then beaten you up and taken the cash from your wallet then when the cops show up claimed they aren't the driver and were merely walking passed.

Then come back and claim the car was theirs all along that they paid for it for a really cheap price at a bargain clearance sale.

 

[BEISHA]

Whilst driving home today the car in front had the license plate "DRC"

It's a sign boys.

 

[Doc]

What have we got here…..

News headline received for AVZ. Headline reads: DRC General Inspectorate of Finance Report - CMC Markets Invest Alert.

 

[Remark]

Announcement out...

http://www.aspecthuntley.com.au/docserver/02609104.pdf?fileid=02609104&datedir=20221206&edt=MjAyMi0xMi0wNisxNzoyOTo0MSs0ODArMzU0MDQ4K2FuZHJld3dlc3QrcmVkaXJlY3QraHR0cDovL3d3dy5hc3BlY3RodW50bGV5LmNvbS5hdS9pbWFnZXNpZ25hbC9lcnJvcnBhZ2VzL3BkZnRpbWVvdXQuaHRtbCtodHRwOi8vd3d3LmFzcGVjdGh1bnRsZXkuY29tLmF1L2ltYWdlc2lnbmFsL2Vycm9ycGFnZXMvcGRmZGVsYXllZC5qc3A=

 

[Dijon101]

DRC General Inspectorate of Finance Report???

 

[MoneyBags1348]

Announcement out...

http://www.aspecthuntley.com.au/docserver/02609104.pdf?fileid=02609104&datedir=20221206&edt=MjAyMi0xMi0wNisxNzoyOTo0MSs0ODArMzU0MDQ4K2FuZHJld3dlc3QrcmVkaXJlY3QraHR0cDovL3d3dy5hc3BlY3RodW50bGV5LmNvbS5hdS9pbWFnZXNpZ25hbC9lcnJvcnBhZ2VzL3BkZnRpbWVvdXQuaHRtbCtodHRwOi8vd3d3LmFzcGVjdGh1bnRsZXkuY29tLmF1L2ltYWdlc2lnbmFsL2Vycm9ycGFnZXMvcGRmZGVsYXllZC5qc3A=

Just like AVZ always on time with the information

 

[wombat74]

A few people be going to the slammer .

 

[Remark]

No English version of the report on the AVZ website that I can see?

Edit: They must be uploading it - all I'm getting is a static landing page with the heading....

https://static1.squarespace.com/static/5934d2ae6b8f5beeb5ba23f3/t/638ee2df77e76824d82d6fff/1670308576126/20221130+-+IGF+Report+on+the+Management+of+DRC+Mining+Assets+by+COMINIERE+SA+-+ENG.pdf

Edit: Edit: There it is....

 

[MoneyBags1348]

Nice paragraphing John…. I like to leave a space when I paragraph

I agree with all that you say, except that I like some of the links @JAG and @Sammael post from the bird…. And I also like the links to Kiki Kienge (Kongo Press Reporter), she posts a lot of good information on corruption in the DRC.

Nigel and the BOD on big weekly salaries collecting free shares and negotiating their way smoothly through the roadshow’s and AGM while shareholders desperately needing to access their money continue to suffer…. Only options to maintain your sanity seems to either mentally right them off (for the time being put them in the bottom draw) or stop tuning in to find out the latest updates.

I don’t want to be here anymore either so I’m hoping people don’t refer to me in their posts because I always feel I should respond when they do.

I put a post up last week with my thoughts on the ML plus our Capital Requirements and @Winenut(s) replied about CATH still agreeing to fund us in return for offtake if they pull out of their 24% in Dathcom.

That $400million would then be like a prepayment for our SC6 (and they want nearly all of our product) which would mean that money was spent on construction (CAPEX) so we wouldn’t be getting it back to pay off our debt to the PAN AFRICAN DFI’s.

I also referred to our BOD considering paying $25million to Dathomir (through the courts) but that was a figure that stemmed from the company. Since looking into it further, I read that a Lubumbashi Court already ruled in favour of AVZ’s acquisition of 10% of Dathomir and it was the remaining 5% which was in question…. And for this 5%, Dathomir (Cong) wants $50million.

So a quick recalculation on Capital related matters to query our CFO….

$150 million (15% to Cominiere)
$ 50 million ( 5% to Dathomir)
$600 million (PAN AF DFI’s - Debt/Equity)
$400 million (Pre-purchased SC6 CAPEX)

Final thoughts….

I wouldn’t be expecting Simon Cong to be held accountable for anything, other than providing the bed linen and snacks at his luxury hotel in Kinshasa, where politicians seem to be conducting their conferences from.

Anyone loyal to Nigel wanting to run this by him (or CFO Jan)…. Tell them MB said to say hi and don’t worry about returning his calls…. He’s lost fucken interest

Just so Jan isn’t behind when it comes to giving us an update on our Financial Position once we finally get to production, I better add OPEX to my previous post on our Capital Requirements

$150 million (15% to Cominiere)
$ 50 million ( 5% to Dathomir)
$600 million (PAN AF DFI’s - Debt/Equity)
$400 million (Pre-purchased SC6 CAPEX)
$??? million (Operating Expenditures)

Not meaning to be negative with recent posts but as Mr Inappropriate alludes to in the next post, I’m pretty sure I don’t want to be wondering about the ambiguity of our finances after spending the last 8 months wondering about the ambiguities of ownership, the ML and other vested interests.

All my queries regarding AVZ exec’s have been brought on by their own lack of open disclosure

 

[Mr Inappropriate]

No English version of the report on the AVZ website that I can see?

Edit: They must be uploading it - all I'm getting is a static page with the heading....

DRC General Inspectorate of Finance’s findings against Cominiere and Dathomir — AVZ Minerals Limited

avzminerals.com.au

Dude, the English version of AVZ‘s own announcement is barely in English:
“AVZ acquired valid and legal title to the 60% of shares issued in Dathcom, including, for the avoidance of doubt, as a consequence of the waiver of any rights of Cominiere and Dathomir under the Dathcom JVA by virtue of their entry into that same agreement”

Seriously AVZ, are you oblivious as to how this crud creates ambiguity that feeds directly into the machinery that wants us destroyed? FFS.