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DRC - Manono lithium mine: AJN, AVZ and TTX, incestuous financial ties in violation of stock market laws? (Grandstand)
The Canadian company AJN RESOURCES INC of the sulphurous German businessman Peter Klaus Eckhof announced on December 1, 2022 in a press release that it had acquired, via its subsidiary CONGO RESOURCES SAU (CRS), 81 mining squares of the promising Manono lithium mine in the province of Tanganyka in the DRC.
How could he have acquired these squares so easily?
In fact, the boss of AJN RESSOURCES INC (Peter Klaus) was the former boss of AVZ MINERALS which owns shares through DATHCOM, in the Manono lithium mine. Peter Klaus is also the boss of TANTALEX LITHIUM RESOURCES (TTX), another company that also wants to exploit Manono's lithium. The fact that Peter Klaus has links with his 3 exploration and mining companies gives him access to confidential information that other investors do not. And that can lead to insider trading.
Indeed, the current boss of AVZ Nigel Munro holds 9.65% of the shares of AJN RESOURCES. This makes him the second largest shareholder before Klaus who has 3.69% of the shares.
It was after a meeting in April 2022 in Germany between the two businessmen that AJN RESOURCES acquired 81 mining squares resulting from the renunciation by AVZ of part of its mining portfolio. This "assignment-waiver" was immediately followed by the resignation of Nigel Ferguson as administrator at AJN RESOURCES. As director and second shareholder of AJN RESSOURCES, Nigel Ferguson is himself the beneficiary of this sale to the detriment of the holders of AVZ MINERALS shares.
The bond between Nigel and Klaus is visible as a nose in the face. Only the DRC and the holders of AVZ and AJN shares are the turkeys of the farce of this deal. Have the Australian and Canadian stock exchanges really received all the documents on this incestuous transaction?
It is up to these two financial policemen to protect small investors against possible insider trading by certain investors.
For the moment, the DRC has not yet issued an operating permit to DATHCOM/AVZ due to violations of the law. Negotiations have been floundering for 7 months. However, under Australian Stock Exchange regulations, a stalemate in trading for more than 18 months results in delisting.
As a reminder, several civil society organizations consider AJRN as a speculator in natural resources without the capacity to develop a world-class mine.
Civil society had already opposed in November 2019 the sale by SOKIMO of its 10% in KIBALI for the modest sum of 20 million against assets of 150 thousand ounces (10% of the 1.5 million ounces of reserves of ounces).
Christian Kakule
RDC - Mine de lithium de Manono : AJN, AVZ et TTX, des liens financiers incestueux en violation des lois de la bourse ? (Tribune)
La société canadienne AJN RESOURCES INC du sulfureux homme d’affaires allemand Peter Klaus Eckhof a annoncé le 1er décembre 2022 dans un communiqué avoir acquis, via sa filiale CONGO RESOURCES SAU (CRS), 81 carrés miniers de la prometteuse mine de lithium de Manono dans la province du Tanganyka...
