AVZ Discussion 2022

[MoneyBags1348]

Been nice to have seen this announcement some 8 months ago...

However this part could be interesting:
"AVZ and AVZI have brought the First Dathomir Arbitration, and will bring the Second Dathomir Arbitration, to affirm AVZI’s acquisition in August 2021 of the aforesaid 15% interest in Dathcom, to put an end, once and for all, to Dathomir’s claims and to recover losses sustained from them."

Yea Sam, it’s taken the BOD all this time to come out with the facts about Dathomir and even longer to bring this to Arbitration…. Mate it isn’t fucken good enough

I just hope Nigel (and DL Piper Lawyers or Momentum Attorneys or whoever the fuck else is involved) are taking notes of all the backup information that’s been provided on here and on twitter because they seem to be very slow with informing shareholders and taking action.

At least all the momentum with the IGF, NGO’s and information from the reporters in the DRC are have built a wave of support behind us

Fuck me, I had woken up with a more supportive attitude this morning and even though this should be good news, for some strange reason I’m not impressed

 

[Hemicuda]

Holy shit 'Peter Clark' knows shit that we don't. I reckon hes another Der Geist.

I'm guessing the BOD are fed up with taking 'the highest levels of government' on their word. Time for talk is over, time for action... (although its legal action, the slowest kind of action)

Maybe we all are the narrator and geist is our Tyler durden,,,,,,, or where just loosing what’s left of our collective minds
not sure what to make of the timing of todays announcement, but at least as shareholders after 8 months it appears like our employees are doing something

 

[Charbella]

Yea Sam, it’s taken the BOD all this time to come out with the facts about Dathomir and even longer to bring this to Arbitration…. Mate it isn’t fucken good enough

I just hope Nigel (and DL Piper Lawyers or Momentum Attorneys or whoever the fuck else is involved) are taking notes of all the backup information that’s been provided on here and on twitter because they seem to be very slow with informing shareholders and taking action.

At least all the momentum with the IGF, NGO’s and information from the reporters in the DRC are have built a wave of support behind us

Fuck me, I had woken up with a more supportive attitude this morning and even though this should be good news, for some strange reason I’m not impressed

Maybe AVZ was waiting for the release of the IGF report confirming our 60% first (assurance of government support), which didn't arrive until 30/11 and subsequently on the 1/12 we lodged our arbitration request. The chance of winning by taking everyone on at the same time is unlikely.

 

[DiscoDanNZ]

Confirming in the announcement what we've been saying all along. In other words Zijin can get fucked, Dathcom can get fucked, Cominiere can get fucked and princess bitch face can get fucked. Everyone can go and get fucked basically.

This may even put some pressure on the DRC to pull the ML out of the bottom drawer too.

 

[Samus]

Yea Sam, it’s taken the BOD all this time to come out with the facts about Dathomir and even longer to bring this to Arbitration…. Mate it isn’t fucken good enough

I just hope Nigel (and DL Piper Lawyers or Momentum Attorneys or whoever the fuck else is involved) are taking notes of all the backup information that’s been provided on here and on twitter because they seem to be very slow with informing shareholders and taking action.

At least all the momentum with the IGF, NGO’s and information from the reporters in the DRC are have built a wave of support behind us

Fuck me, I had woken up with a more supportive attitude this morning and even though this should be good news, for some strange reason I’m not impressed

Yes I know what you mean MB, however it looks like it's come to this being a necessary step in proceedings. I'm choosing to believe that it's a positive at this stage and that Cong will shy away from the potential of compensation.
I was under the impression however through previous reading on ICC arbitration that the ICC have no real power to enforce a ruling? Perhaps someone can correct me on this.

 

[John25]

View attachment 23769
Confirming in the announcement what we've been saying all along. In other words Zijin can get fucked, Dathcom can get fucked, Cominiere can get fucked and princess bitch face can get fucked. Everyone can go and get fucked basically.

This may even put some pressure on the DRC to pull the ML out of the bottom drawer too.

About time “ the gloves come off” go down fighting not pandering these fuckers

 

[The Fox]

I'm hoping that instigating Arbitration is a strategy to bring Comg to the table to settle the dispute. ICC average case timeline takes 18 months to complete, Cong will know this. Will bringing proceedings against CONG motivate him to forgo a $50m or $100 grab in favour of a lessor amount to conclude this dispute? I don't know.

So what happens now with CATH deal ? Partial settlement with CATH for AVZ to maintain 51% until all disputes resolved? or change in deal structure as previously discussed here? or push it out again?

One thing that is of some concern, how can a Government issue a mining licence (PE) to any company if the ownership is not 100% confirmed, locked in and so on. Maybe in the DRC this will not matter much, yet in many other jurisdictions you can't issue a ML/PE when owership of the holding company is unclear.

Let's hope AVZ has a strong enough claim in the ownership with Cominiere (with the help of the IGF) to ensure ML/PE is issued prior to the two Arbitration cases are completed.

Cheers The Fox

PS. Just noticed Dom on the same topic.

 

[whales]

Agreed. I remember this was discussed at the road show, someone will shit their pants when they see this arbitration request and realise how much they will need to compensate us. The compensation risk was also why Antoinette Nsamba Kalambayi was on our side.

Is the ML dependant on the result of this 15%.
I thought that it was as long as a company hold 51% and have proven financial funding for the project then that should be sufficient to issue the ML .
So surface rights still could be paid in full by Dathcom while arbitration proceeds .
It is now fact AVZ / Dathcom hold 60%.

Unless surface rights have to be paid by individual partners ?
A question for Ben at AVZ.

 

[Samus]

Is the ML dependant on the result of this 15%.
I thought that it was as long as a company hold 51% and have proven financial funding for the project then that should be sufficient to issue the ML .
So surface rights still could be paid in full by Dathcom while arbitration proceeds .
It is now fact AVZ / Dathcom hold 60%.

Unless surface rights have to be paid by individual partners ?
A question for Ben at AVZ.

If we go on the premise that Jean Felix Mupande is holding up the licence through unresolved ownership issues as many suspect then this debacle could cost us a lot more time as fox was saying.
We need some clarity around the exact nature of the hold up here to come to any reasonable conclusion that isn't pure speculation.

 

[whales]

Is the ML dependant on the result of this 15%.
I thought that it was as long as a company hold 51% and have proven financial funding for the project then that should be sufficient to issue the ML .
So surface rights still could be paid in full by Dathcom while arbitration proceeds .
It is now fact AVZ / Dathcom hold 60%.

Unless surface rights have to be paid by individual partners ?
A question for Ben at AVZ.

Also if CATH is willing to accept 9% of the project that still leaves 51% ownership.

 

[LOCKY82]

Do we have the money for all this? Surface rights + 15% purchase from Cominiere (zijins) + icc + drilling? Hopefully cath are happy to go to 9% and we get this show on the road while arbitration goes on in the background

 

[Xerof]

Can anyone shed light on why there are 2 Arbitration cases to be lodged against Cong?

 

[Samus]

Can anyone shed light on why there are 2 Arbitration cases to be lodged against Cong?

One for each the 10% and the 5% which were different transactions totalling the 15% we purchase from dathomir is the way I'm reading it.

 

[The Fox]

Is the ML dependant on the result of this 15%.
I thought that it was as long as a company hold 51% and have proven financial funding for the project then that should be sufficient to issue the ML .
So surface rights still could be paid in full by Dathcom while arbitration proceeds .
It is now fact AVZ / Dathcom hold 60%.

Unless surface rights have to be paid by individual partners ?
A question for Ben at AVZ.

Hey Whales

I don’t know of any country where the Government would issue an ML/PE to a private company when the ownership of said company is unclear.

This is to ensure there are no criminal elements, mafia, known money laundering or terrorist groups or sanctioned people or sanctioned companies involved etc.

I fail to see how this could be any different in the DRC or the way the Government there should manage things. However, since half the operators in the DRC are crooks, maybe it doesn’t matter there, who fuck’en knows.

My understanding on the 51% ruling is only to do with one party having 51%, not we don't care who owns the other 49%.

Certainly more disclosure needed from BOD on the outlook re ML/PE and ownership issues. Many shareholders will need to plan around a drawn out (further draw out) suspension if clarity of ownership is one of the reasons for the hold up....... now. Apparently is hasn't been an issue voiced by Nigel thus far for ML/PE delay, only correct surface rights, hope this hasn't changed or been overlooked.

Cheers The Fox

 

[Powerage]

Given the contractual nature of our case, there may be a decent chance of a summary judgement at the ICC.

 

[wombat74]

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

 

[MoneyBags1348]

Maybe AVZ was waiting for the release of the IGF report confirming our 60% first (assurance of government support), which didn't arrive until 30/11 and subsequently on the 1/12 we lodged our arbitration request. The chance of winning by taking everyone on at the same time is unlikely.

View attachment 23769
Confirming in the announcement what we've been saying all along. In other words Zijin can get fucked, Dathcom can get fucked, Cominiere can get fucked and princess bitch face can get fucked. Everyone can go and get fucked basically.

This may even put some pressure on the DRC to pull the ML out of the bottom drawer too.

Yes I know what you mean MB, however it looks like it's come to this being a necessary step in proceedings. I'm choosing to believe that it's a positive at this stage and that Cong will shy away from the potential of compensation.
I was under the impression however through previous reading on ICC arbitration that the ICC have no real power to enforce a ruling? Perhaps someone can correct me on this.

I agree @Charbella, the company may have been waiting for the report but if so it seems like it was a bit of a gamble! I’m going to try not to worry too much because there’s not much we can do and the Arbitration could be months away which would mean months of worry.

Also there has been a lot of good information on here lately so there’s reason to be be positive…. But I still can’t take my eye off our finances and if we have to wait months and need to pay for Cominiere’s 15%, plus attorneys etc…. I keep looking at our bank balance and as it stands I reckon we now have under $40 mil left in the kitty

@DiscoDanNZ, your colouring hand looks a little shaky and are you having a small crack at the Mantle…. You’ll have to do better, @Winenut’s position won’t be tested on that offering!

I think Cong has been around long enough to play a long game, he’s probably a professional mahjong player as well

Regarding your question about Arbitration, I hope someone can answer it because I can’t…. But still trying to stay positive too

I woke up supportive, I’m over my unimpressed feelings but still need Nigel (or CFO Jan) to provide a supportive narrative around our finances

 

[DiscoDanNZ]

One thing is for sure this means more time, time = money.

Time for the BOD to take a little pay cut and leave a bit extra in the kitty? If a bit of a pay cut means you can't afford to pay your power bill you could always sell a few shares in AJN to make up the difference aye Nige.

EDIT: @MoneyBags1348 trying to highlight on a laptop touch pad when in a rush and after 2 coffees will do that to me. I leave the beers until later in the afternoon after all I'm only unemployed, not a piece of shit.

 

[Xerof]

One for each the 10% and the 5% which were different transactions totalling the 15% we purchase from dathomir is the way I'm reading it.

Yes, probably it's that simple

 

[Samus]

Fucking surface rights paid within a few days... Fuck.
Where are you Jean Felix?