AVZ Discussion 2022

[cruiser51]

CMOC pushes back as Congo's Gecamines demands compensation in cobalt mine dispute​

7TH DECEMBER 2022

BY: REUTERS
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China's CMOC Group hit back at what it called "wild overcharges" from Congo's state mining company Gecamines, which is demanding compensation for higher copper and cobalt reserves at its Tenke Fungurume mine in the country.
Congo suspects CMOC understated the mine's reserves to reduce the amount of royalties it pays to Gecamines, which holds 20% of Tenke Fungurume Mining (TFM). CMOC, previously known as China Molybdenum, denies having done so.

The dispute between the two shareholders began in August 2021 when CMOC announced plans to invest $2.5-billion in expanding Tenke Fungurume, the world's second-biggest cobalt mine. The expansion would roughly double the mine's production.
"If we have to evaluate all the lost revenue, we are beyond $7-billion," Gecamines deputy director general Leon Mwine Kabiena said. "We told them CMOC that if they didn't have enough money to pay the full amount, they should look at how to compensate with the shares and deposits."

Mwine did not detail how Gecamines arrived at the $7-billion figure. According to a 2010 convention between Gecamines and TFM, TFM must pay Gecamines additional royalties of $1.2-million for every 100 000 tonnes of copperreserves above a baseline of 2.5-million tonnes.
Now Gecamines is asking CMOC for between $2-billion and $2.5-billion in cash and a bigger stake of between 49% and 51% in TFM, an official close to the negotiations said, declining to be named because the talks are confidential.
Mwine declined to comment on the possible request for an increased stake.
"We trust and accept fair evaluation by independent international third-party if there were any opposing views to the additional reserves, but we would not accept any groundless wild overcharges as manipulated by few from GCM Read full story," CMOC spokesman Vincent Zhou said in a written response to Reuters' questions.
The feasibility study for the TFM expansion was approved by Congo's ministry of mines, Zhou added.
CMOC in March said "significant progress" had been made towards resolving the dispute, but in July exports from TFM were suspended on an order from a Congolese temporary administrator, and the company on Monday told Reuters it could take legal action against Gecamines.

DRC still not happy with the Chinois......

 

[Mr Inappropriate]

I am fucking angry right now, not because I don't believe AVZ legality, but because NIGEL gave a strong impression that the ML , was nudge nudge wink wink in November to sophs at perth RS.

Clearly that ain't going to happen, providing false hope is not cool when longs have been head fucked for 8 months and counting.

I sincerely hope that ML is not reliant on ICC ARBITRATION, cause if it is, then ground hog day will have new meaning.....


Imo

It‘s either hubris or a rookie mistake (I.e. expressing confidence when in fact you have no control over the process).

 

[JAG]

I am fucking angry right now, not because I don't believe AVZ legality, but because NIGEL gave a strong impression that the ML , was nudge nudge wink wink in November to sophs at perth RS.

Clearly that ain't going to happen, providing false hope is not cool when longs have been head fucked for 8 months and counting.

I sincerely hope that ML is not reliant on ICC ARBITRATION, cause if it is, then ground hog day will have new meaning.....


Imo

I'm hearing you Beisha....I'm that angry I don't even know what FN day it is, apparently its Thursday......like WTF MAN

 

[Retrobyte]

We got a wink update on the bird from DEBOSS . So everyone just calm the f--k down .

DEBOSS : "The ML can still be issued.........regardless of the pending court cases"

Atthe Sydney RS Nigel inferred we may stay in suspension until the arbitration was resolved or dropped. He understands the risk to share price if any uncertainly remains upon listing, ML or not.

 

[wombat74]

I am fucking angry right now, not because I don't believe AVZ legality, but because NIGEL gave a strong impression that the ML , was nudge nudge wink wink in November to sophs at perth RS.

Clearly that ain't going to happen, providing false hope is not cool when longs have been head fucked for 8 months and counting.

I sincerely hope that ML is not reliant on ICC ARBITRATION, cause if it is, then ground hog day will have new meaning.....


Imo

A revised CATH deal ML is my go to at the minute . Then the other sh1t can take as long as it takes .

 

[Charbella]

Atthe Sydney RS Nigel inferred we may stay in suspension until the arbitration was resolved or dropped. He understands the risk to share price if any uncertainly remains upon listing, ML or not.

That doesn’t sit right with me. You can’t do that to shareholders.

 

[wombat74]

Atthe Sydney RS Nigel inferred we may stay in suspension until the arbitration was resolved or dropped. He understands the risk to share price if any uncertainly remains upon listing, ML or not.

Is that just Nigel's way of saying the ML cannot be awarded until arbitration is sorted ? Sounds like it .

 

[Samus]

Manono lithium/tin: AVZ Minerals in international legal crusade against Dathomir and confirms its 75% in Dathcom​

December 8, 2022
Kiki Kienge

By Kiki Kienge
Since the arrest of the general and technical director of Cominier (Congolese state mining company) by the Congolese justice system, following the report of the IGF (Inspection Générale des Finances) which revealed the mismanagement and the selling off of 15 % (33 million $US than the 150 million of its real value) of the shares of the Congolese company (Cominiere) to the Chinese of Zijin in Datcom, things are starting to move in Kinshasa, Manono and Perth in Australia where AVZ Minerals is headquartered.
As a reminder, the Australian company AVZ Minerals, had made an agreement to buy 15% of the shares in Dathcom (joint venture of La Cominiere and other companies) from Dathomir of the Chinese Somon Cong; After accepting and signing the deal, Dathomir went back on his signature claiming a higher sum than in the deal with AVZ Minerals, following the increase in the value of lithium and the company in international stock exchanges, after the publication by AVZ Minerals of the results of the research permit in Tanganyika on lithium. Research that would have cost the Australian company more than US$75 million.
Avz Minerals already owns 60% of the shares in Dathcom, with the 15% “bought” from Dathomir, Avz now owns 75% of the Manono lithium and tin project. Something that Dathomir disputes today, who wants to enter the project with “his 15%”.
It was on November 8 that the Perth company published a press release on its decision of its legal crusade before the International Chamber of Commerce to affirm its interests in the Manono lithium and tin project.
To read the AVZ Minerals press release translated into French from English by our editorial staff:

- the ASX release follows

Manono lithium/étain: AVZ Minerals en croisade judiciaire internationale contre Dathomir et confirme ses 75% dans Dathcom - Kongo Presse

Par Kiki Kienge Depuis l’interpellation du directeur général et technique de la Cominier (société minière de l’État Congolais) par la justice Congolaise, suite au rapport de l’IGF (Inspection Générale des…

kongopress.com

 

[JAG]

Atthe Sydney RS Nigel inferred we may stay in suspension until the arbitration was resolved or dropped. He understands the risk to share price if any uncertainly remains upon listing, ML or not.

Hmmm, interesting mate. @Perth RS Nigel clearly stated and I quote " Suspension has nothing to do with arbitration"

Someone telling....

 

[JAG]

 

[Samus]

Hmmm, interesting mate. @Perth RS Nigel clearly stated and I quote " Suspension has nothing to do with arbitration"

Someone telling....

I'm positive he said this in Melbourne as well.
Question still remains, what does it take to have the DG of CAMI sign off on anything?
I'm not feeling the promise of any progress until this question is answered.

 

[JAG]

I'm positive he said this in Melbourne as well.
Question still remains, what does it take to have the DG of CAMI sign off on anything?
I'm not feeling the promise of any progress until this question is answered.

 

[MoneyBags1348]

Hmmm, interesting mate. @Perth RS Nigel clearly stated and I quote " Suspension has nothing to do with arbitration"

Someone telling....

Yes he’s a fucken bullshit artist JAG, and plenty of us here know why…. We all know its about the share price and equity and we’ve all been going along with him and supporting him but there comes a time when shareholders get sick of the bullshit no matter what the original reason

There’s plenty here who say ‘leave him alone’ and ‘let him get on with the job’ but that cunt is on a weekly salary of $thousands, he’s been gifted nearly 50 million shares and he has shown contempt and arrogance towards shareholders and they’re circumstances.

Arrogance has lost him a great deal of shareholder support and the only thing that will get us through is his own greed

He’s had a year to get arbitration underway whatever excuse people make for him, and what will really turn me off him is if he isn’t open about our finances going forward.

Just tell shareholders the truth and let us decide what we want to do rather than winking and bullshiting….

And I think it’s a good time for @Deboss to have some input here…. He’s well respected and may just settle a few of us down because Nigel really doesn’t want us to keep speaking about him in these terms which is what is happening and will continue to happen

 

[Onthefm]

"AVZ Minerals Limited (ASX: AVZ, OTC: AZZVF) (AVZ or Company) advises that, with or through its wholly owned subsidiary AVZ International Pty Ltd (AVZI), on 1 December 2022 it has filed the first of two International Chamber of Commerce (ICC) arbitrations against Dathomir Mining Resources "

Today being the 8th , why the 7 day delay informing SH ? Dathomir announcement not far away I suspect . Of course they will be rejecting AVZ's claims and will be looking forward to the many months of legal battle ahead .

Would have been a hell of a lot cheaper and quicker to just raise the purchase price to 75 mill pay it and the for last 8 months we would have been building a mine. Not living a nightmare. Imo

 

[whales]

Could we expect an announcement re the restructure of the CATH deal . AVZ 51% +CATH 9% = ML . Check Mate Mother F--kers .

Yes checkmate.
Only way that will happen is for FT to have a Presidential Decree for the issue of surface rights to be paid.
In his advantage to get mine started in an election year.??

 

[JNRB]

Yes checkmate.
Only way that will happen is for FT to have a Presidential Decree for the issue of surface rights to be paid.
In his advantage to get mine started in an election year.??

Is anyone here on TikTok?

Felix is waiting for the youth of DRC to do the governments job for them and provide proof of corruption. Maybe if we present the IGF report with a quirky dance or something he'll pay attention

 

[Elmitso]

Many holders at Sydney Roadshow were keen to stay in suspension even after issue of ML if Arbitration is still going on. At hearing this, Nigel said "thats the first time I've heard that, thats refreshing" or something like that. Nigel did say that he's pretty sure as soon as ML drops, Jincheng would likely drop the arbitration case.

 

[DiscoDanNZ]

At this rate we should have bought shares in Dell and HP. 6 months and counting of all of us having to buy a new computer everyday must be making them rocket. Fucken. @MoneyBags1348

 

[Azzler]

Yes he’s a fucken bullshit artist JAG, and plenty of us here know why…. We all know its about the share price and equity and we’ve all been going along with him and supporting him but there comes a time when shareholders get sick of the bullshit no matter what the original reason

There’s plenty here who say ‘leave him alone’ and ‘let him get on with the job’ but that cunt is on a weekly salary of $thousands, he’s been gifted nearly 50 million shares and he has shown contempt and arrogance towards shareholders and they’re circumstances.

Arrogance has lost him a great deal of shareholder support and the only thing that will get us through is his own greed

He’s had a year to get arbitration underway whatever excuse people make for him, and what will really turn me off him is if he isn’t open about our finances going forward.

Just tell shareholders the truth and let us decide what we want to do rather than winking and bullshiting….

And I think it’s a good time for @Deboss to have some input here…. He’s well respected and may just settle a few of us down because Nigel really doesn’t want us to keep speaking about him in these terms which is what is happening and will continue to happen

Right on MB's!

 

[DiscoDanNZ]

Yes he’s a fucken bullshit artist JAG, and plenty of us here know why…. We all know its about the share price and equity and we’ve all been going along with him and supporting him but there comes a time when shareholders get sick of the bullshit no matter what the original reason

There’s plenty here who say ‘leave him alone’ and ‘let him get on with the job’ but that cunt is on a weekly salary of $thousands, he’s been gifted nearly 50 million shares and he has shown contempt and arrogance towards shareholders and they’re circumstances.

Arrogance has lost him a great deal of shareholder support and the only thing that will get us through is his own greed

He’s had a year to get arbitration underway whatever excuse people make for him, and what will really turn me off him is if he isn’t open about our finances going forward.

Just tell shareholders the truth and let us decide what we want to do rather than winking and bullshiting….

And I think it’s a good time for @Deboss to have some input here…. He’s well respected and may just settle a few of us down because Nigel really doesn’t want us to keep speaking about him in these terms which is what is happening and will continue to happen

You've hit the nail on the head there and I agree that it would be nice to hear from @Deboss too. His opinion matters to the majority of people here and he keeps winking so I think he likes us...