AVZ Discussion 2022

[Retrobyte]

However, having worked in West Africa myself, I can think of a number of ways to legally acquire and progress resource projects in this environment. It ranges from small things like being a top sponsor to next year's industry event

We have that box ticked!

 

[CeckRaiseFold]

Nigel doesnt have authority to negotiate away half of the companies main asset without putting it to shareholders to vote on at either the AGM or a special EGM.

Australian Public company CEOs have a large amount of authority when backed by their Board who have the Shareholders delegated authority.

But it might not be presented in a way that it's AVZ suggestion or initiative. If DRC government or regulator requires or insists on a percentage relinquishment when transferring from PR to PE then this is not an A/EGM issue. It's not Dathcom/AVZ decision to make.

The value of the excluded part is also not proven, I.e not drilled and certified it can therefore not be valued and officially seen as giving half the company asset away.

In O&G that I'm familiar with, operators have to relinquish acreage knowing very well that more resources are in the original exploration permit but without drilling and proving it they cannot hang on to it.

Unfortunately past experience with Klaus makes one think that he and his DRC and Chinese backers are more likely to screw us over than 'help'. If NF only found that out in May then indeed, many many questions to answer

 

[Retrobyte]

Hmm more explanation needed here too:

Nige goes to Germany and meets with Axino Capital mid April 2022 (Nige is managing director of AVZ and also a director of AJN at the time)

Klaus goes to Germany and meets with Axino Capital end of October 2022 and says AVZ gave up half of Manono in mid April and we will have the Manono tenements smoothly transferred into our JV with the DRC that we have been working on with them since 6 Feb 2020....but the JV changed on 8 Feb 2022 and we included a Lithium Project in Manono into the JV on 19 April 2022 and we will get that smoothly transferred into the JV during Nov 2022.

Hello.......WTF is going on here???

This seems to support the wording in a recent announcement that said something along the lines of working towards a satisfactory outcome for shareholders. There is definitely some type of wheeling and dealing going on. It may not be takeover (yet) but maybe Nige and fEckoff have done a deal that works for all parties, including satiating @fatshit, Cong, and the other blokes and the lawyers we have been - paying to "negotiate" an outcome - I'm sure all of them have their hand out reaching for snacks or a brown paper bag. I also saw some disturbing commentary on socials about 3M and who he has worked for in the past - his previous (or maybe still current employer) is nicknamed "black Hitler"

 

[LEFOOL]

Looking back on the first page of this thread back in Feb 2022 is a bit freaky........sorry lads you werent even close

hey Chilla sorry i meant 21st Feb 2023......

 

[Samus]

Sounds to me like Nigel needs to dump his AJN holding similar to what Klaus did back in the day to AVZ. If it's such a low volume stock it should pretty much destroy the share price.
Perhaps I'm not understanding some complexities but why he hasn't already done it yet seems a bit suspicious.
Wipe his hands of it and relinquish those performance rights.

Starting to feel a bit suss why more of CDL wasn't drilled...

I wonder if the rest of the roadshows will be going ahead at this point.

 

[Onthefm]

And I'm sure Nigel is smart enough to know this, that's what makes it all seem like another fishy DRC/ DG of CAMI dodgy snack deal.



Anyone got an idea of how much it would cost to pool some resources and buy a decent stake of AJN? Show up to the AGM with a large chunk of AJN and see if Nige wants to pool together for a controlling stake? He is already 9.something % of the way there.

I'm sure many of us here would love to fuck over Klaus for a change.

Count me in

 

[Chilla]

Australian Public company CEOs have a large amount of authority when backed by their Board who have the Shareholders delegated authority.

But it might not be presented in a way that it's AVZ suggestion or initiative. If DRC government or regulator requires or insists on a percentage relinquishment when transferring from PR to PE then this is not an A/EGM issue. It's not Dathcom/AVZ decision to make.

The value of the excluded part is also not proven, I.e not drilled and certified it can therefore not be valued and officially seen as giving half the company asset away.

In O&G that I'm familiar with, operators have to relinquish acreage knowing very well that more resources are in the original exploration permit but without drilling and proving it they cannot hang on to it.

Unfortunately past experience with Klaus makes one think that he and his DRC and Chinese backers are more likely to screw us over than 'help'. If NF only found that out in May then indeed, many many questions to answer

I cant agree.

AVZ have stated PR13359 has a target resource of 1.5-2.0 Billion Tonnes. That means the Northern section according to AVZ has just as much resource expectation as the southern section and in their own words have announced CDL is likely a bigger pegmatite than RD. Just because they havent poked as many holes in it to define like they have RD....doesnt mean it holds less future value than RD does. Therefore it remains a significant asset of the company and the BoD are not allowed to dispose of significant assets without gaining shareholder approval to do so.

Likewise if it is illegally taken from AVZ...then the BoD have a duty to shareholders to take all legal means available to them to recover it.

Reading the AJN announcements...it would appear AJN were pursuing the Manono project at least as early between 8 Feb 2022 and 19 April 2022 if not earlier and Nige was a Director at this time.

 

[Chilla]

I cant agree.

AVZ have stated PR13359 has a target resource of 1.5-2.0 Billion Tonnes. That means the Northern section according to AVZ has just as much resource expectation as the southern section and in their own words have announced CDL is likely a bigger pegmatite than RD. Just because they havent poked as many holes in it to define like they have RD....doesnt mean it holds less future value than RD does. Therefore it remains a significant asset of the company and the BoD are not allowed to dispose of significant assets without gaining shareholder approval to do so.

Likewise if it is illegally taken from AVZ...then the BoD have a duty to shareholders to take all legal means available to them to recover it.

Reading the AJN announcements...it would appear AJN were pursuing the Manono project at least as early between 8 Feb 2022 and 19 April 2022 if not earlier and Nige was a Director at this time.

For further guidance, the 50% of PR4029 and 4030 that were relinquished is no issue because the company had not fulfilled any of the work required to maintain those permits. PR13359 is a single permit and the company and Dathomir have undertaken more work than required to maintain full title to the permit as a whole as its not multiple permits but a single permit.

 

[Nellie17]

For further guidance, the 50% of PR4029 and 4030 that were relinquished is no issue because the company had not fulfilled any of the work required to maintain those permits. PR13359 is a single permit and the company and Dathomir have undertaken more work than required to maintain full title to the permit as a whole as its not multiple permits but a single permit.

You have no idea why the Northern section of CDL was relinquished by AVZ (if it was at all), so why not wait until we are officially told. If it has been relinquished, I would be hoping there was a good reason for it to happen.
I'll be attending the RS tomorrow night in Brisbane, so hopefully I will get a few answers for myself then.
I read that you will be going to the Melbourne RS later in the week, so why not wait until then to hopefully get your answers, instead imo, of continual scaremongering.

Cheers,
Nells

 

[whales]

For further guidance, the 50% of PR4029 and 4030 that were relinquished is no issue because the company had not fulfilled any of the work required to maintain those permits. PR13359 is a single permit and the company and Dathomir have undertaken more work than required to maintain full title to the permit as a whole as its not multiple permits but a single permit.

PR13359 As a single permit.
I hope you are right and Momentum have documents to prove it.
Great question for the next Road Show.

 

[BEISHA]

Come to think of it....i never did understand the purpose of Nige's trip to Germany and meeting with Axino Capital.

Did Nige have the AVZ hat on or did he have the AJN hat on? ....was he looking for capital for AJN at the time?

Anyone any thoughts on this?

 

[whales]

PR13359 As a single permit.
I hope you are right and Momentum have documents to prove it.
Great question for the next Road Show.

Always thought that Roche Dure and CDL were separate tenements .

 

[Chilla]

You have no idea why the Northern section of CDL was relinquished by AVZ (if it was at all), so why not wait until we are officially told. If it has been relinquished, I would be hoping there was a good reason for it to happen.
I'll be attending the RS tomorrow night in Brisbane, so hopefully I will get a few answers for myself then.
I read that you will be going to the Melbourne RS later in the week, so why not wait until then to hopefully get your answers, instead imo, of continual scaremongering.

Cheers,
Nells

You have got the wrong end of the stick. I am not scaremongering at all, just posting facts. I likely hold multiple amounts of what you hold. I am not making anything up and what i have posted is from either AVZ announcements or AJN announcements or ASX Listing Requirements or AVZ's own Corporate Governance Policy. You may not like it...i actually dont like it either....but im very concerned by the AJN action this week and the fact that Nige has some level of knowledge that AVZ shareholders are currently not aware of.

 

[Chilla]

Always thought that Roche Dure and CDL were separate tenements .

Nope...just the one single tenement.

 

[bloke383]

I cant agree.

AVZ have stated PR13359 has a target resource of 1.5-2.0 Billion Tonnes. That means the Northern section according to AVZ has just as much resource expectation as the southern section and in their own words have announced CDL is likely a bigger pegmatite than RD. Just because they havent poked as many holes in it to define like they have RD....doesnt mean it holds less future value than RD does. Therefore it remains a significant asset of the company and the BoD are not allowed to dispose of significant assets without gaining shareholder approval to do so.

Likewise if it is illegally taken from AVZ...then the BoD have a duty to shareholders to take all legal means available to them to recover it.

Reading the AJN announcements...it would appear AJN were pursuing the Manono project at least as early between 8 Feb 2022 and 19 April 2022 if not earlier and Nige was a Director at this time.

"Therefore it remains a significant asset of the company and the BoD are not allowed to dispose of significant assets without gaining shareholder approval to do so.
Likewise if it is illegally taken from AVZ...then the BoD have a duty to shareholders to take all legal means available to them to recover it."


Including going to the ICC as far as I'm concerned . Surely the board understands this , & this is why I'm still trusting Nigel when he says not to believe any other media commentary apart from our own ASX announcements . Klaus & co would lie to their own mothers if they thought they could make a dollar out it . This week will be extremely interesting & I'm hoping not to have to change my thoughts on Nigel & the BoD

 

[Chilla]

You have no idea why the Northern section of CDL was relinquished by AVZ (if it was at all), so why not wait until we are officially told. If it has been relinquished, I would be hoping there was a good reason for it to happen.
I'll be attending the RS tomorrow night in Brisbane, so hopefully I will get a few answers for myself then.
I read that you will be going to the Melbourne RS later in the week, so why not wait until then to hopefully get your answers, instead imo, of continual scaremongering.

Cheers,
Nells

I hope the information i have stated gives you some questions to ask at the RS and you get the answers you want. I dont expect you to share any of your answers btw.

 

[Chilla]

"Therefore it remains a significant asset of the company and the BoD are not allowed to dispose of significant assets without gaining shareholder approval to do so.
Likewise if it is illegally taken from AVZ...then the BoD have a duty to shareholders to take all legal means available to them to recover it."


Including going to the ICC as far as I'm concerned . Surely the board understands this , & this is why I'm still trusting Nigel when he says not to believe any other media commentary apart from our own ASX announcements . Klaus & co would lie to their own mothers if they thought they could make a dollar out it . This week will be extremely interesting & I'm hoping not to have to change my thoughts on Nigel & the BoD

" I'm hoping not to have to change my thoughts on Nigel & the BoD"

Same here....i sincerely hope that Nige position remains tenable as i believe he has his heart in this but he needs to get his house in order and remove the conflicts of interest.

 

[John25]

Welcome to the Hotel TSE Forum
Such a lovely place
Such a lovely Face

Remember someone told me the song is about a mental institution …its a fine line next weeks going to be a cracker GLA

 

[Xerof]

Guys, your (speculative) posts are now being paraphrased on the bird as if they are facts.

Time to shut it all down until after the AGM?

A big hi to John Bro (not)

 

[whales]

Nope...just the one single tenement.

WOW one single permit .
Explains the suspension.
The DG of CAMI hopefully receives what he deserves from FT.