AVZ Discussion 2022

[Winenut]

Sorry, what I meant to say was...
I think there are more pressing concerns right now

Yep agree

 

[wombat74]

Sad that shameful clown is still embarrassing himself.

According to Marius Mihigo after CKK sh1t canned him in that interview many months ago now , according to Marius Mihigo CKK would be handing in his resignation shortly there after . Instead CKK has just been promoted . WTF !!!!!!!!!! $1 Millions dollars for what ? All talk no action ? All Bravado All BS ?

 

[MoneyBags1348]

Okay Bags...you get the tin/cassiterite added into PR 13359 on the portal......

I'll be very happy with that!!!

You’d wanna be happy with that

 

[Azzler]

According to Marius Mihigo after CKK sh1t canned him in that interview many months ago now , according to Marius Mihigo CKK would be handing in his resignation shortly there after . Instead CKK has just been promoted . WTF !!!!!!!!!! $1 Millions dollars for what ? All talk no action ? All Bravado All BS ?

Yeah its all a set up AVZ are shit, Marius is a stooge, its all a con, we are destined to fail. YAY! Oh I mean, Oh No!

 

[Carlos Danger]

Carlos I’m not 100% sure, but I thought I read a long time ago that it is the State owned entity in a joint venture in the DRC that had to cede the 10% back to the State.

I might be wrong but I thought it was in one of the pieces of information on mining I put on the DRC MINING LEGISLATION thread

There is six pages of information there now so I don’t blame you or anyone else for not looking there, and I reckon that it’s a job for Christian Lukusa

Maybe it's in the mining code AND appropriately reflected in the Dathcom JVA???

I haven't seen that in the mining code. The specific part of the legislation only mentions the applicant. I reckon AVZ would have cited the mining code as well as the Dathcom JV if the state owned entity had to do it.

Also there would have been no need to put that clause in the JV if it was Cominiere's responsibility automatically in the mining code

 

[Samus]

I'm sure this ceding of 10% by Cominière has been stated by AVZ in asx announcements too. But I cbf looking though unfortunately, I'm rather enjoying this wine instead.

 

[Carlos Danger]

I'm sure this ceding of 10% by Cominière has been stated by AVZ in asx announcements too. But I cbf looking though unfortunately, I'm rather enjoying this wine instead.

It's definitely in the May 4th 2022 ministerial decree announcement. Screenshot of the relevant part in my post above yours.

 

[wombat74]

Yeah its all a set up AVZ are shit, Marius is a stooge, its all a con, we are destined to fail. YAY! Oh I mean, Oh No!

All good Azzler . I'm just asking questions . For someone who has the inside running you are very emotional . IMO

 

[Azzler]

All good Azzler . I'm just asking questions . For someone who has the inside running you are very emotional . IMO

I know right, those emotions, just keep taking me over, I just don't know what to do with myself.
No but go on, have another crack at the "emotional" angle, it might work next time. Doug? is it?

 

[Azzler]

All good Azzler . I'm just asking questions . For someone who has the inside running you are very emotional . IMO

Anyway I distracted us for a moment there, lets get back on track, where were we.. oh right, turning shareholder sentiment negative on BoD's activities, in particular, hiring MMM.
BOO! come on holders, BOO!!!

 

[Samus]

It's definitely in the May 4th 2022 ministerial decree announcement. Screenshot of the relevant part in my post above yours.

Thank you sir. Carry on.

 

[Azzler]

iM jUst AskInG QuesTioNs!

 

[wombat74]

iM jUst AskInG QuesTioNs!

Ok Azzler . I apologise . I didn't mean to tip you over the edge . We all want AVZ to succeed . I'll admit I do get over critical at times , but sometimes it does feel like we are all being f--ked over with the pointy end of the pineapple . imo

 

[Azzler]

Ok Azzler . I apologise . I didn't mean to tip you over the edge . We all want AVZ to succeed . I'll admit I do get over critical at times , but sometimes it does feel like we are all being f--ked over with the pointy end of the pineapple . imo

Thank you my dear wombles, you've brought be back from the edge with your rationale and wisdom of words.
May we all meditate in the warmth of your healing words.

 

[Ashlee]

 

[MoneyBags1348]

I haven't seen that in the mining code. The specific part of the legislation only mentions the applicant. I reckon AVZ would have cited the mining code as well as the Dathcom JV if the state owned entity had to do it.

Also there would have been no need to put that clause in the JV if it was Cominiere's responsibility automatically in the mining code

View attachment 41993
View attachment 41992

I had a look at these two sites and found these bits of information Carlos, probably not much help

III Mining rights and required licences and permits​

i Title​

Underground minerals belong exclusively to the state. However, any private party may be authorised by the state to engage in mining activities (from exploration to exploitation and distribution), provided that specific objectives of eligibility, priority and capacity criteria set forth in the Mining Code are met. The types of mining permits available in the DRC are research permits, exploitation permits (including small-scale mines) and tailing exploitation permits. Specific legislation regarding artisanal mining and quarry rights also exists.

Companies that wish to develop mining activities in the DRC are required either to incorporate a Congolese company or to elect domicile with a 'mining agent' as a condition of eligibility to obtain an exploitation permit. In addition, to be eligible for a mining permit, companies are obliged to either form a joint venture with a state-owned company (such as Gécamines) that already holds the necessary permits, or freely assign a mandatory 10 per cent stake of its share capital to the DRC.

Mining Law: Democratic Republic of the Congo

Mining Law: Democratic Republic of the Congo

thelawreviews.co.uk

https://congomines.org/system/attachments/assets/000/000/101/original/GOVRDC-2003-ReglementMinier-EN.pdf?1430927814

 

[Onthefm]

All good Azzler . I'm just asking questions . For someone who has the inside running you are very emotional . IMO

I think the squirrels may have misplaced there nuts and are frantically looking for them. Ha Ignorance is bliss.

 

[Mr Inappropriate]

I had a look at these two sites and found these bits of information Carlos, probably not much help

III Mining rights and required licences and permits​

i Title​

Underground minerals belong exclusively to the state. However, any private party may be authorised by the state to engage in mining activities (from exploration to exploitation and distribution), provided that specific objectives of eligibility, priority and capacity criteria set forth in the Mining Code are met. The types of mining permits available in the DRC are research permits, exploitation permits (including small-scale mines) and tailing exploitation permits. Specific legislation regarding artisanal mining and quarry rights also exists.

Companies that wish to develop mining activities in the DRC are required either to incorporate a Congolese company or to elect domicile with a 'mining agent' as a condition of eligibility to obtain an exploitation permit. In addition, to be eligible for a mining permit, companies are obliged to either form a joint venture with a state-owned company (such as Gécamines) that already holds the necessary permits, or freely assign a mandatory 10 per cent stake of its share capital to the DRC.

Mining Law: Democratic Republic of the Congo

Mining Law: Democratic Republic of the Congo

thelawreviews.co.uk

View attachment 41995

https://congomines.org/system/attachments/assets/000/000/101/original/GOVRDC-2003-ReglementMinier-EN.pdf?1430927814

Need to be a bit careful here - this extract is from the 2003 REGULATIONS and is out of date. Also the mining code (legislation) takes precedence over these regulations.

Edit: The regs are more procedural in nature.

I’ve scoured the whole fucking internet for the english version of the 2018 regs, but to no avail. Even wrote to law firms in Africa and they were of no help.

I do have the French version of the 2018 regs and can translate bits as required (it’s about 500 pages long from memory so it’s not fun…).

Also, @Carlos Danger ’s earlier post is on the money. Per the Mining Code the applicant (Dathcom) has to cede 10% of its issued capital. Who’s share that comes from will be described in the Dathcom JVA.

 

[Winenut]

Need to be a bit careful here - this extract is from the 2003 REGULATIONS and is out of date. Also the mining code (legislation) takes precedence over these regulations.

Edit: The regs are more procedural in nature.

I’ve scoured the whole fucking internet for the english version of the 2018 regs, but to no avail. Even wrote to law firms in Africa and they were of no help.

I do have the French version of the 2018 regs and can translate bits as required (it’s about 500 pages long from memory so it’s not fun…).

Also, @Carlos Danger ’s earlier post is on the money. Per the Mining Code the applicant (Dathcom) has to cede 10% of its issued capital. Who’s share that comes from will be described in the Dathcom JVA.

That is correct (10% must be ceded per the mining code from the applicant Dathcom) and the Dathcom JVA (thank you Carlos) then seems to indicate in clause 5.1(i) that it must come from Cominiere

 

[pow4ade]

Need to be a bit careful here - this extract is from the 2003 REGULATIONS and is out of date. Also the mining code (legislation) takes precedence over these regulations.

Edit: The regs are more procedural in nature.

I’ve scoured the whole fucking internet for the english version of the 2018 regs, but to no avail. Even wrote to law firms in Africa and they were of no help.

I do have the French version of the 2018 regs and can translate bits as required (it’s about 500 pages long from memory so it’s not fun…).

Also, @Carlos Danger ’s earlier post is on the money. Per the Mining Code the applicant (Dathcom) has to cede 10% of its issued capital. Who’s share that comes from will be described in the Dathcom JVA.

The ceding provision was originally 5% under the 2002 Code, amended to 10 % in the 2018 updated Code:

The 2002 Mining Code included a requirement for 5 per cent State ownership in all mining companies awarded a mining licence, which has been doubled to 10 per cent. As before, the State share is free-carried and non-dilutable.3

The State interest has also been clarified in the context of a transfer of a mining right, with an explicit right of the State to a minimum 10 per cent free-carried interest in the acquiring company.4

Upon each renewal of a mining licence, the State will be entitled to an additional 5 per cent interest in the holder of the right, in addition to its existing shareholding.5

https://www.herbertsmithfreehills.c...cratic-republic-of-congos-revised-mining-code