AVZ Discussion 2022
- Thread starter GazDix
- Start date
The Fox
Regular
PS. Thinking about this more, my personal opinion is there is no case for AVZ to answer even with regard to the article 16 point ( f ) item raised. If anything, Cominiere would have a case against Dathomir for selling shares to AVZ in return for project development and funding which happened, AVZ kept their end of the bargain up, and we all know the sale of shares from Dathomir to AVZ was done with support of Comimiere.I'm going with the glass half full view of this section of the report.
Some relevant comments to share:
There is no statement that AVZ has done anything illegal. (and this was the case in the extracts of the full IGF report early this year as well)
It criticises Dathomir for selling shares when it should not have, yet the report does not state the transaction was illegal or void, but breaches an an article of the JV agreement, not the DRC mining code or they would have mentioned that.
The focus of the balance of this section in the report makes complaint about Dathimor not providing any input value yet taking large profits. (Something AVZ has not been accused of)
Others will have more information, however I recall the JV agreements / shareholder agreements with Cominiere being re-struck after the above event.
The sale of shares to AVZ from Dathomir is stated as a matter of fact, not a complaint on AVZ is my glass half full take.
Obviously the above section / sentence will cause some concern, yet there has been no dialog on reversing this transaction or reshuffling the deck (ownership) by the IGF in the body of the document or in the conclusion.
It would be helpful to have the full report in hand that was completed earlier in the year to correlate this summary and changes since. I hope Franck will share eventually.
What can be investigated further is something that was raised by another holder here, the reference to "article 16 point ( f )" may have been in earlier version of the JV/Shareholders agreement that was reportedly replaced in 2019 (I suspect), yet this is stretching my memory, I'm sure others can dig into more detail. Or correct me if my memory serves me wrong.
Cheers The Fox
If the timeline is right, new JV/Shareholder agreements/company structure/ may have been completed sometime after that transaction anyway. (yet to fully confirm this, stretching my memory as I said, but makes sense.)
Cheers The Fox
JAG
Top 20
Bray
Regular
Diamond rigs usually run around 1 week per hole..
Trying to pump the results out prior to future trading
An easier solution would be if Nigel by way of someone like Deboss reach out and put SH minds at ease over this matter . Maybe another wink or a photo of a scrumptious lunch spread . Or better still just announce the gid damn ML .I'm going with the glass half full view of this section of the report.
Some relevant comments to share:
There is no statement that AVZ has done anything illegal. (and this was the case in the extracts of the full IGF report early this year as well)
It criticises Dathomir for selling shares when it should not have, yet the report does not state the transaction was illegal or void, but breaches an an article of the JV agreement, not the DRC mining code or they would have mentioned that.
The focus of the balance of this section in the report makes complaint about Dathimor not providing any input value yet taking large profits. (Something AVZ has not been accused of)
Others will have more information, however I recall the JV agreements / shareholder agreements with Cominiere being re-struck after the above event.
The sale of shares to AVZ from Dathomir is stated as a matter of fact, not a complaint on AVZ is my glass half full take.
Obviously the above section / sentence will cause some concern, yet there has been no dialog on reversing this transaction or reshuffling the deck (ownership) by the IGF in the body of the document or in the conclusion.
It would be helpful to have the full report in hand that was completed earlier in the year to correlate this summary and changes since. I hope Franck will share eventually.
What can be investigated further is something that was raised by another holder here, the reference to "article 16 point ( f )" may have been in earlier version of the JV/Shareholders agreement that was reportedly replaced in 2019 (I suspect), yet this is stretching my memory, I'm sure others can dig into more detail. Or correct me if my memory serves me wrong.
Cheers The Fox
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TDITD
Top 20
Yes an that had me concered, but as has been stated to us several times our BOD have kept all communications and paper trails. Dathomir sold off to siphon off $$ from the DRC state in complicity with Cominiere....in contrast we have sunk into the DRC state over $100 million to prove up a monster deposit and a DFS with construction ready to go."However the part about Dathomir selling 60% to AVZ which it says is illegal essentially after violations of the provisions of the JV contract, this did concern me a little"
This is the part I am currently trying like shit to get my head around???
Are they saying in the report that the purchase of 60% by AVZ was in fact illegal in itself.....violating the terms of the Dathomir JV Contract
And then this posted by JAG
View attachment 23293
So is that 60% safe????
If so where has it subsequently been addressed and assessed as safe/not illegal???
I have to say it....it's been a while .....but this fucking circle-jerk is doing my head in!!!
It would be absolute suicide businesswise for them to take it off of us, much more likely is a clean out of Cominiere and crooks, then the state of DRC continuing on with us as the project leader in good faith with a percentage in AVZ
TDITD
Top 20
I thought that too, fkin ell a fourth diamond drill rig..............yeah that'll be cheap.
I reckon these guys pretty much have what they need its just time b4 we find out.
Or they are recklessly wasting money to prove up more of what isn't even ours, yeah nah
CashKing
Regular
TDITD
Top 20
@MoneyBags1348 must have spiked my food.This is all starting to sound like more time, more talking and more bullshit unfortunately.
I reckon its good news and we are making good progress finally. We have been asking for months why these fuckwits are getting away with this shit. Finally we are seeing movement and more light being shone on it all.
Crims arrested, new IGF report, promises of more crims arrested, an then clues like AVZ having bloody 4 diamond rigs onsite at a time when conserving money would be prudent if timeframes are unclear.
These mushies are good
AVZ should just start recruiting locals for the mine build. When they ask starting date AVZ can say ‘go ask Felix’. A few hundred angry locals wanting work could help things along
The Fox
Regular
I’m leaning the other way with the release of the drill results, they might finally be past the point of no return for ML to be issued. There always seemed to be some fear around shouting how valuable Manono is until Cominiere was sorted to avoid perceptions AVZ was getting too sweet a deal. That was one of my suspicions along the way with all of this.This is all starting to sound like more time, more talking and more bullshit unfortunately.
Or maybe ASX is breathing down the neck of AVZ every day with complaints and competitors pushing hard for compliance to be maintained and so they decided not to sit on drilling results as assays are time stamped by the lab so probably could not be held back any longer.
You could be right and ML is weeks away, most recent comments I’ve heard is any tic of the clock. Yet Nigel is yet to share any accurate timeline to date as we know.
Reflecting on events of the last couple of weeks, it’s been pretty intense stuff with Cominiere arrests and IGF report (summary) being published. Be nice to see CAMI arrests next and then a public apology by Princess blaming her advisors who she has now sacked. Don’t expect much more then that from her, but won’t shed a tear if she gets carted off, that’s for sure.
Ministers always have a life boat ready to go if they are caught. Let’s hope someone has drilled holes in hers, I do wonder about her removal upsetting the corrupt apple cart too much I think, we shall see. Plus with Felix saying yesterday how wonderful all the Ministers are then in short, I’d hate to be one of her advisors right now, classic scape goat strategy while preserving her Ministerial position.
Cheers The
TheCount
Regular
Elmo was always pulling that kind of shizzle when the cameras weren't rolling...
Cookie Monster added weed to his cookies...
Follow me for more stories...
TC.
Winenut
GO AVZ!!!!
And you were fixing him up to the eyeballs with moonshine!
TDITD
Top 20
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