AVZ Discussion 2022

[Rediah]

View attachment 24441

Christian Lukusa is our Momentum Lawyers, right ?

Edit: yes he is

I should stalk him on LinkedIn too as he didn’t accept my Twitter invite

 

[Mr Inappropriate]

WTF... why would they add that??

i would have definatly not put in competent as that will just draw suspicion hahha

"...ahhh clearly there are some who are are not but we will say they are!"

It’s nothing - “competent authorities“ are referred to in the Mining Code and Regs..

 

[Sparrowhawk12]

Christian Lukusa is our Momentum Lawyers, right ?

View attachment 24442

Yes. I hope he's hinting that FT is organising real USA support so he can force switch from China to USA & the West.

 

[ptlas]

Have BOD come out swinging in the new Ann?

Dunno what Nige does on a Friday night, but he's certainly got the dosh to do anything he likes

 

[BRICK]

Christian Lukusa is our Momentum Lawyers, right ?

Edit: yes he is
View attachment 24442

I should stalk him on LinkedIn too as he didn’t accept my Twitter invite

yep he just uploaded this on his linkedin page

 

[Onthefm]

Unless CATL/Mr Pei said "I'll take your 9% @$90M & underwrite $100'sM more, IF, you prove I can get my 10MTpa from just Roche Dure".

Mate if that's the case the pricks should be telling us that. Christ there's absolutely nothing black or white with these pricks every fucken thing is grey.

 

[Samus]

FYI a bit more from Franck and Kiki.


Simple, this blocking is political and politicized, the CAMI has no right to block the decision of the government which has already granted the operating permit to $AVZ . the state in this blockade loses because millions of dollars in royalties are lost each month. Soon Insha'Allah

 

[tonster66]

Imo they need to stop spending money on drilling something we can't mine. It's absolutely ridiculous to keep throwing good money after dad especially when we need the money to defend ourselves against all these thieves. It'll be fucken hard to do a cr when we've been delisted.

Yep agree. Nigel said it would take 2 years to build the mine .So when we get the license and start building then we can continue to drill. IMO

 

[cruiser51]

Wanker Tommy back on the keyboard.

AVZ stays suspended, rejects allegations

Tom Richardson
Markets reporter and commentator

Dec 15, 2022 – 4.20pm

Perth-headquartered lithium explorer AVZ Minerals has blamed third parties for attempting to diminish the credibility of the company and its management as the $2.6 billion miner marks its seventh month of sharemarket suspension.
It also said it retains legal title to a 75 per cent interest in the Manono Project in the Democratic Republic of the Congo (DRC), with the tenement regarded as the world’s largest untapped lithium deposit.

“The company has been the subject of a hostile third-party campaign, run by parties seeking to acquire an interest in the world-class Manono Project through questionable and irregular means,” AVZ said on Thursday.
Management also disclosed it faces court cases with Zijin Mining as the owner of Jin Cheng Mining and DRC mining group Dathomir Mining.
The legal blues are over ownership rights to separate 15 per cent stakes in the Manono Project equal to 30 per cent of the project.


RELATED QUOTES
AVZAVZ Minerals
$0.780 -7.14%1 year1 day

Updated: Dec 15, 2022 – 8.45pm. Data is 20 mins delayed.
View AVZ related articles

On Monday, The Australian Financial Review revealed that DRC state-backed mining body Cominiere wrote from Lubumbashi to AVZ on July, 21, 2021 to inform it that Zijin Mining sought to buy a 15 per cent stake in Manono.
AVZ’s Kinshasa-based lawyer wrote to Cominiere on August 4, 2021, to object to the proposed Zijin deal and remind Cominiere of its obligations. It also told Cominiere it was still interested in buying the 15 per cent stake.
In a statement on Thursday, AVZ conceded it sought to dissuade Cominiere from selling the 15 per cent stake to Zijin “around July/August 2021” and said it never disclosed the matter as it considered the claim “spurious in nature, without merit, containing fundamental and material errors, and as having no substance in fact or law”.
Zijin says it acquired the 15 per cent stake from Cominiere for $US33.4 million in November 2021 and has sound legal title.
AVZ did not disclose the Zijin dispute until May 2022. The matter is now scheduled to go to the International Court of Arbitration in May 2023.
AVZ further said on Thursday it didn’t disclose a December 2021 DRC court ruling related to Dathomir’s 15 per cent ownership rights, as it also considered the ruling “spurious” with no foundation in fact or law.
Suspension extended
Shares in the group rocketed between July 2021 and May 2022 to a peak valuation near $4.6 billion. As a result of its suspension in May, the company was removed from Australia’s flagship S&P/ASX 200 on September 2, 2022.
The stock will remain suspended until January 31 or an earlier announcement, the company added on Thursday. It said the sharemarket limbo is related to the finalisation of its mining license application in the DRC.
A historical Mineral Resources and Reserves (JORC) estimate put the Manono Project as containing 401 million tonnes of lithium hard rock at a lithium oxide grade of 1.65 per cent. AVZ raised $115 million in two capital raisings in financial 2022 to help finance the project’s development and execution of ownership rights.

 

[BRICK]

Wanker Tommy back on the keyboard.

AVZ stays suspended, rejects allegations

Tom Richardson
Markets reporter and commentator

Dec 15, 2022 – 4.20pm

Perth-headquartered lithium explorer AVZ Minerals has blamed third parties for attempting to diminish the credibility of the company and its management as the $2.6 billion miner marks its seventh month of sharemarket suspension.
It also said it retains legal title to a 75 per cent interest in the Manono Project in the Democratic Republic of the Congo (DRC), with the tenement regarded as the world’s largest untapped lithium deposit.

“The company has been the subject of a hostile third-party campaign, run by parties seeking to acquire an interest in the world-class Manono Project through questionable and irregular means,” AVZ said on Thursday.
Management also disclosed it faces court cases with Zijin Mining as the owner of Jin Cheng Mining and DRC mining group Dathomir Mining.
The legal blues are over ownership rights to separate 15 per cent stakes in the Manono Project equal to 30 per cent of the project.


RELATED QUOTES
AVZAVZ Minerals
$0.780 -7.14%1 year1 day

Updated: Dec 15, 2022 – 8.45pm. Data is 20 mins delayed.
View AVZ related articles

On Monday, The Australian Financial Review revealed that DRC state-backed mining body Cominiere wrote from Lubumbashi to AVZ on July, 21, 2021 to inform it that Zijin Mining sought to buy a 15 per cent stake in Manono.
AVZ’s Kinshasa-based lawyer wrote to Cominiere on August 4, 2021, to object to the proposed Zijin deal and remind Cominiere of its obligations. It also told Cominiere it was still interested in buying the 15 per cent stake.
In a statement on Thursday, AVZ conceded it sought to dissuade Cominiere from selling the 15 per cent stake to Zijin “around July/August 2021” and said it never disclosed the matter as it considered the claim “spurious in nature, without merit, containing fundamental and material errors, and as having no substance in fact or law”.
Zijin says it acquired the 15 per cent stake from Cominiere for $US33.4 million in November 2021 and has sound legal title.
AVZ did not disclose the Zijin dispute until May 2022. The matter is now scheduled to go to the International Court of Arbitration in May 2023.
AVZ further said on Thursday it didn’t disclose a December 2021 DRC court ruling related to Dathomir’s 15 per cent ownership rights, as it also considered the ruling “spurious” with no foundation in fact or law.
Suspension extended
Shares in the group rocketed between July 2021 and May 2022 to a peak valuation near $4.6 billion. As a result of its suspension in May, the company was removed from Australia’s flagship S&P/ASX 200 on September 2, 2022.
The stock will remain suspended until January 31 or an earlier announcement, the company added on Thursday. It said the sharemarket limbo is related to the finalisation of its mining license application in the DRC.
A historical Mineral Resources and Reserves (JORC) estimate put the Manono Project as containing 401 million tonnes of lithium hard rock at a lithium oxide grade of 1.65 per cent. AVZ raised $115 million in two capital raisings in financial 2022 to help finance the project’s development and execution of ownership rights.

Wow he spent the whole day just to write that?

 

[cruiser51]

Wow he spent the whole day just to write that?

He forgot to mention he is considered to be one of the third parties.

Too late now.

I wonder if he apologised to Zoe, calling her a sissy.

Hey Zoe, stop shaving, it stimulates facial hair growth.

 

[JAG]

Gday everyone from the centre of the earth

 

[Charbella]

Do you think Tommy has AFR’s support with his articles? I think so. But why?

 

[Samus]

DRC – IGF: COMINIERE requests the postponement of the decrees waiving PR13359 for several violations by AVZ​

By Editorial KinshasaDecember 15, 2022 at 9:53 am

TO SHARE
COMINIERE SA, as a partner of DATHCOM and a company in the State portfolio, seized the Ministry of Mines on the 6th of the current month by its letter referenced CEM/DG/138/ckk/2022, accusing AVZ of having renounced part of PR13359 to transform it into PE13359. COMINIERE has asked the Ministry of Mines to postpone the decrees on the partial waiver of PR no. 13359.
While brandishing the Dathcom Joint Venture Agreement, COMINIERE revealed in this letter a large number of violations by AVZ, which resulted in the non-issuance of the MOU for Dathcom.

1. The terms of the transaction for the sale of 60% of the shares of DATHOMIR and AVZ Minerals were never communicated to COMINIERE so that it could exercise its right of pre-emption. This is why COMINIERE is right to question this transaction before the Authority, even up to international arbitration.
2. Through the feasibility study presented to the Ministry of Mines on behalf of Dathcom, AVZ wanted to:

· The over-invoicing at the level of the construction services, the price of acquisition of the factories for the metallurgical treatment as presented in the feasibility study are more than ten times higher compared to the real price.
· Spoliate the heritage of the State, by declaring that thanks to a law firm, AVZ was able to recover the hydroelectric power station of Mpiana Mwanga. However, COMINIERE owns 100% of the plant.
· This is why COMINIERE did not give its favorable opinion on the feasibility study. Pursuant to the contractual clauses, once the feasibility study has been carried out, it must obtain COMINIERE's favorable opinion.

1. AVZ unilaterally declared the transfer to the Congolese State of 10% of the shares which came from COMINIERE SA
2. To date Dathcom has not paid for the pas de porte, although this is its contractual obligation. AVZ maintains the confusion between the notion of pas de porte and the signing bonus, claiming that it paid for the pas de porte.
3. Lack of transparency in fundraising operations. AVZ had to raise funds on the Australian Stock Exchange (ASX) for the joint project without communicating to the partners the amount obtained and the assignment to the project. DATHCOM's financial statements are never released to associates, and AVZ refuses to release them when other associates ask.
4. Signature of subcontracting contracts without the approval of the partners, this concerns in particular contracts signed with drilling companies and those for the supply of fuel.

AVZ filed a request for waiver of part of PR13359 without the approval or of COMINIERE SA through the General Meeting of the partners in Dathcom, thus causing the loss of a very important part of this mining heritage on which COMINIERE was very attached for this project.
 Without the favorable opinion of the partners such as COMINIERE, how did the feasibility study pass the approval of the Ministry of Mines?
 Has the Ministry of Mines confirmed the transfer to the State of 10% of the shares of Dathcom? Has he confirmed that the Pas de Porte 1% deposit value has been paid to the public treasury?
 Has the Ministry of Mines checked whether AVZ presented the Minutes of the General Meeting of Partners to prove that all Dathcom partners agreed to relinquish part of PR13359?
 Is the part of PR13359 “renounced” unilaterally by AVZ transferred to AJN in which Nigel holds 9.65% of the shares? If this is the case, these actions will lead to the loss of assets, to the detriment of Congolese public companies and the Congolese State.
In addition, the courier of COMINIERE denounced the following violations and frauds of AVZ:

1. Solitary management of the JV without the participation of the agents that COMINIERE has appointed within Dathcom.
2. AVZ Power has signed a memorandum of understanding on the rehabilitation of the Mpiana Mwanga hydroelectric plant with the Ministry of Hydraulic Resources and Electricity while ignoring COMINIERE (State representative) who owns the said plant.
3. AVZ has a habit of making publications on the Australian ASX exchange without contacting partners and obtaining their opinions.
4. AVZ never kept its commitment to COMINIERE given in the JV contract to pay the advances on the dividends.
5. Mr. Graeme Johnson, who is Managing Director of Dathcom and Technical Director of AVZ, was sentenced to three years in prison, Dathcom was fined 50 million dollars. This was never released by AVZ in its announcements in 2021, everything is hidden.

Reminder: according to Mining Agents, for the deposits studied, Law No. 007/2002 of July 11, 2002 on the Mining Code as amended and supplemented by Law No. paragraph 2 and 71 provide the following conditions for the transformation of PR into PE:
 The feasibility study of the exploitation of the deposit to demonstrate the existence of an economically exploitable deposit;
 The notarized declaration of the commitment to transfer to the State 10% of the shares or shares of the share capital which are free of all charges and cannot be diluted;
 The financing plan with identification of the sources of financing targeted, to demonstrate the existence of the financial resources necessary to carry out its project according to a financing plan for the work of development, construction and exploitation of the mine as well as the rehabilitation plan for the site upon closure.
 Access to the exploitation of a studied, documented or worked deposit belonging to the State, obtained by call for tenders, is conditioned by the payment of a doorstep to the latter, representing 1% of the in-place value of said deposit. The value in place of the deposit is defined as being the price obtained for said deposit within the framework of the call for tenders.

 

[JAG]

 

[JAG]

 

[JAG]

 

[Samus]

DRC – IGF: COMINIERE requests the postponement of the decrees waiving PR13359 for several violations by AVZ​

By Editorial KinshasaDecember 15, 2022 at 9:53 am

TO SHARE
COMINIERE SA, as a partner of DATHCOM and a company in the State portfolio, seized the Ministry of Mines on the 6th of the current month by its letter referenced CEM/DG/138/ckk/2022, accusing AVZ of having renounced part of PR13359 to transform it into PE13359. COMINIERE has asked the Ministry of Mines to postpone the decrees on the partial waiver of PR no. 13359.
While brandishing the Dathcom Joint Venture Agreement, COMINIERE revealed in this letter a large number of violations by AVZ, which resulted in the non-issuance of the MOU for Dathcom.

1. The terms of the transaction for the sale of 60% of the shares of DATHOMIR and AVZ Minerals were never communicated to COMINIERE so that it could exercise its right of pre-emption. This is why COMINIERE is right to question this transaction before the Authority, even up to international arbitration.
2. Through the feasibility study presented to the Ministry of Mines on behalf of Dathcom, AVZ wanted to:

· The over-invoicing at the level of the construction services, the price of acquisition of the factories for the metallurgical treatment as presented in the feasibility study are more than ten times higher compared to the real price.
· Spoliate the heritage of the State, by declaring that thanks to a law firm, AVZ was able to recover the hydroelectric power station of Mpiana Mwanga. However, COMINIERE owns 100% of the plant.
· This is why COMINIERE did not give its favorable opinion on the feasibility study. Pursuant to the contractual clauses, once the feasibility study has been carried out, it must obtain COMINIERE's favorable opinion.

1. AVZ unilaterally declared the transfer to the Congolese State of 10% of the shares which came from COMINIERE SA
2. To date Dathcom has not paid for the pas de porte, although this is its contractual obligation. AVZ maintains the confusion between the notion of pas de porte and the signing bonus, claiming that it paid for the pas de porte.
3. Lack of transparency in fundraising operations. AVZ had to raise funds on the Australian Stock Exchange (ASX) for the joint project without communicating to the partners the amount obtained and the assignment to the project. DATHCOM's financial statements are never released to associates, and AVZ refuses to release them when other associates ask.
4. Signature of subcontracting contracts without the approval of the partners, this concerns in particular contracts signed with drilling companies and those for the supply of fuel.

AVZ filed a request for waiver of part of PR13359 without the approval or of COMINIERE SA through the General Meeting of the partners in Dathcom, thus causing the loss of a very important part of this mining heritage on which COMINIERE was very attached for this project.
 Without the favorable opinion of the partners such as COMINIERE, how did the feasibility study pass the approval of the Ministry of Mines?
 Has the Ministry of Mines confirmed the transfer to the State of 10% of the shares of Dathcom? Has he confirmed that the Pas de Porte 1% deposit value has been paid to the public treasury?
 Has the Ministry of Mines checked whether AVZ presented the Minutes of the General Meeting of Partners to prove that all Dathcom partners agreed to relinquish part of PR13359?
 Is the part of PR13359 “renounced” unilaterally by AVZ transferred to AJN in which Nigel holds 9.65% of the shares? If this is the case, these actions will lead to the loss of assets, to the detriment of Congolese public companies and the Congolese State.
In addition, the courier of COMINIERE denounced the following violations and frauds of AVZ:

1. Solitary management of the JV without the participation of the agents that COMINIERE has appointed within Dathcom.
2. AVZ Power has signed a memorandum of understanding on the rehabilitation of the Mpiana Mwanga hydroelectric plant with the Ministry of Hydraulic Resources and Electricity while ignoring COMINIERE (State representative) who owns the said plant.
3. AVZ has a habit of making publications on the Australian ASX exchange without contacting partners and obtaining their opinions.
4. AVZ never kept its commitment to COMINIERE given in the JV contract to pay the advances on the dividends.
5. Mr. Graeme Johnson, who is Managing Director of Dathcom and Technical Director of AVZ, was sentenced to three years in prison, Dathcom was fined 50 million dollars. This was never released by AVZ in its announcements in 2021, everything is hidden.

Reminder: according to Mining Agents, for the deposits studied, Law No. 007/2002 of July 11, 2002 on the Mining Code as amended and supplemented by Law No. paragraph 2 and 71 provide the following conditions for the transformation of PR into PE:
 The feasibility study of the exploitation of the deposit to demonstrate the existence of an economically exploitable deposit;
 The notarized declaration of the commitment to transfer to the State 10% of the shares or shares of the share capital which are free of all charges and cannot be diluted;
 The financing plan with identification of the sources of financing targeted, to demonstrate the existence of the financial resources necessary to carry out its project according to a financing plan for the work of development, construction and exploitation of the mine as well as the rehabilitation plan for the site upon closure.
 Access to the exploitation of a studied, documented or worked deposit belonging to the State, obtained by call for tenders, is conditioned by the payment of a doorstep to the latter, representing 1% of the in-place value of said deposit. The value in place of the deposit is defined as being the price obtained for said deposit within the framework of the call for tenders.
View attachment 24454

Haha if that article doesn't give you an instant fucking headache I don't know what will!

"AVZ maintains the confusion between the notion of pas de porte and the signing bonus, claiming that it paid for the pas de porte." FMD!

 

[Bin59]

This video was posted by the deputy spokesperson of the DRC President 17 hours ago - it’s good to see the Minister of Mines went over as well (no sign of Mupande).

 

[cruiser51]

Gday everyone from the centre of the earth

Any crays down there?