AVZ Discussion 2022
- Thread starter GazDix
- Start date
Sometimes offering a bit of bubbly is not the wisest choice Carlos....
Carlos Danger
Top 20
It's an acquired taste
Info below thanks to gbgirl on HC.
Would you risk investing in another AVZ?
Klaus Eckhof – the man who spearheaded AVZ Minerals’ (ASX:AVZ) Manono lithium project acquisition in 2017 — is acquiring ground next door via his new company, AJN Resources.
Former market darling AVZ is now a cautionary tale of the dangers of developing projects in the Third World.
But it was once an emerging lithium behemoth thanks to its world class Manono project in the DRC, which contains the biggest and second highest grade undeveloped deposit in the world — 401Mt (132Mt reserves) at (1.65%).
Monstrous. No wonder everyone wants a piece.
Now Eckhof’s CSE-listed AJN Resources is a neighbour.
The CSE, or Canadian Securities Exchange, is an alternative to the TSXV for microcaps and emerging companies.
$AJN signs binding term sheet to acquire 70% in highly prospective #lithium deposit, PR 15282, located on the #Manono trend, #DRC
Extrapolation of #Manono #pegmatites suggest they could continue onto PR 15282!
Read full announcement here https://t.co/JILJL7hws9 pic.twitter.com/GcCxJcmfsw
— AJN Resources (@AJN_Resources) June 2, 2023
The ground is ~7km northeast of the northern extension of the Manono pegmatites and 15km northeast of Manono centre.
AJN reckons the 13km-long Manono peggie swarm continues under cover into its new ground.
Field work is expected to commence within the coming weeks.
“We are extremely excited about this latest acquisition which potentially covers 10km of highly prospective ground with good potential to host lithium bearing pegmatites under surficial cover,” Eckhof says.
“Historically, mining and exploration was concentrated on the exposed spodumene bearing pegmatites around Manono which cover a strike length of approximately 13km and little focus was placed on following the extension of these pegmatites under cover to the northeast.”
Interesting fact: current AVZ MD Nige Ferguson was a director at AJN until mid 2022, which is about the time all that drama for AVZ kicked off.
AJN will give $50,000 to vendor Palm to conduct six months of due diligence. If it decides to go ahead with the deal, AJN can acquire a 51% indirect interest for $250,000 and a 10.5% company stake.
AJN can acquire another 19% for $5.25m cash and 4m shares.
Would you risk investing in another AVZ?
Klaus Eckhof – the man who spearheaded AVZ Minerals’ (ASX:AVZ) Manono lithium project acquisition in 2017 — is acquiring ground next door via his new company, AJN Resources.
Former market darling AVZ is now a cautionary tale of the dangers of developing projects in the Third World.
But it was once an emerging lithium behemoth thanks to its world class Manono project in the DRC, which contains the biggest and second highest grade undeveloped deposit in the world — 401Mt (132Mt reserves) at (1.65%).
Monstrous. No wonder everyone wants a piece.
Now Eckhof’s CSE-listed AJN Resources is a neighbour.
The CSE, or Canadian Securities Exchange, is an alternative to the TSXV for microcaps and emerging companies.
$AJN signs binding term sheet to acquire 70% in highly prospective #lithium deposit, PR 15282, located on the #Manono trend, #DRC
Extrapolation of #Manono #pegmatites suggest they could continue onto PR 15282!
Read full announcement here https://t.co/JILJL7hws9 pic.twitter.com/GcCxJcmfsw
— AJN Resources (@AJN_Resources) June 2, 2023
The ground is ~7km northeast of the northern extension of the Manono pegmatites and 15km northeast of Manono centre.
AJN reckons the 13km-long Manono peggie swarm continues under cover into its new ground.
Field work is expected to commence within the coming weeks.
“We are extremely excited about this latest acquisition which potentially covers 10km of highly prospective ground with good potential to host lithium bearing pegmatites under surficial cover,” Eckhof says.
“Historically, mining and exploration was concentrated on the exposed spodumene bearing pegmatites around Manono which cover a strike length of approximately 13km and little focus was placed on following the extension of these pegmatites under cover to the northeast.”
Interesting fact: current AVZ MD Nige Ferguson was a director at AJN until mid 2022, which is about the time all that drama for AVZ kicked off.
AJN will give $50,000 to vendor Palm to conduct six months of due diligence. If it decides to go ahead with the deal, AJN can acquire a 51% indirect interest for $250,000 and a 10.5% company stake.
AJN can acquire another 19% for $5.25m cash and 4m shares.
Ferguson has .
Still holds shares
This was published on Stockhead.
Cumquat Cap
Regular
Nearology plays seldom work so have fun with that Kinky Klaus - another WFE or VEC and is a strong sign AJN got no where near our tenement.
Cumquat Cap
Regular
Where's some news at Nigel?
Cumquat Cap
Regular
Surely that would warrant a release from the company - can anyone direct me to where the rumour started that Zijin were out of Dathcom? Can't remember if it was general deduction or there was some sort of evidence as I believe the company has not received this information. Cheers,
Azzler
Top 20
Just to remind everyone.
There is currently ZERO information to support anything good happening for AVZ.
We've only heard whispers and second hand info from... well we don't even know.
From the ICC request anouncement, I have said that it SOUNDS like Z and Com are out of the game.
Again, we have no information at present that tells us things are looking up for AVZ.
The only thing a little bit solid is that Graeme Johnson recently said to expect more news soon.
If true you'd expect they would cancel the ICC hearing set for July 3rd which would require an announcement to market . Might show up on the ICC site .
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I emailed AVZ again yesterday requesting an updated situation report, and particularly background information on Zijin and Cominiere's audacious claims for damages. As we are aware, there is considerable recent speculation about the fates of these entities. If, indeed they are out of Dathcom, this information is worthy of a company announcement.
I expect a reply any moment now.
Cumquat Cap
Regular
Great stuff Flight, keep us posted - have you received an email response in the past 6 months from Management? Nigel and team only talks to the big holders i've found
Carlos Danger
Top 20
@9cardomaha said it on Friday. He is waiting on a copy of the updated RCCM (which is currently inaccessible to most people) and a letter from Zijin confirming they have given back the 15%.
While I'll believe it when I see the evidence, there isn't a poster I trust more than 9card. His record of bringing receipts for his claims has so far been impeccable.
Cumquat Cap
Regular
Agreed 9card is an animal
Rediah
Regular
Winenut
GO AVZ!!!!
The info and statement is available to download from the AJN website
https://img1.wsimg.com/blobby/go/5a49fbec-1991-48cc-bcb2-3fda66468813/downloads/AJN NR 2023 06 02 Lithium Permit Acquisition_F.pdf?ver=1685740031110
The diagramatic view of where PR 15282 sits is below. I have highlighted the main Manono area which houses CDL and Roche Dure within tenement PR 13359
Note cheeky Klaus and his daughter Sheena are using the tenement maps and borders associated with the split tenement PR 13359
The current status of the unified PR 13359 is below from the Cadastre Portal
So there's Klaus Eckhof - KEckhof
Sheena Eckhof - SEckhof
Wonder if Klaus has a son called Fred - FEckhof???
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