Which has already been the subject of much discussion here on TSE.
I hope they have better clarity on that than I do.
AVZ Discussion 2022
- Thread starter GazDix
- Start date
Which has already been the subject of much discussion here on TSE.
I hope they have better clarity on that than I do.
RHyNO
Regular
You are again correct, i always forget that the DRC are contravening their own law for this insanity. It’s such a wild reality I keep using logic to justify my position but fail to recognise this govt exists outside of it! Wild times. Play out indeed. Wise words.
Next steps calendar update.
We are halfway through.
Still no word re: Dathomir withdrawing its application to wind up Dathcom on 25th March.
I've added the Fat Tail proceedings supposedly on the 28th Mar, and will update if anyone posts up a rescheduled date.
Also added Locke funding deadline of 31 May.
CAMI portal also still has PR13359 belonging to Cominiere.
We are up to the 3rd of April already. After that hearing we might get some insight regarding steps to turn fines into cash (I'd rather be doing that in the mining sense instead of a legal sense). Maybe an announcement this Thursday?
If the hearing is super favourable we might get an announcement re: Locke sooner rather than later?
We are halfway through.
Still no word re: Dathomir withdrawing its application to wind up Dathcom on 25th March.
I've added the Fat Tail proceedings supposedly on the 28th Mar, and will update if anyone posts up a rescheduled date.
Also added Locke funding deadline of 31 May.
CAMI portal also still has PR13359 belonging to Cominiere.
We are up to the 3rd of April already. After that hearing we might get some insight regarding steps to turn fines into cash (I'd rather be doing that in the mining sense instead of a legal sense). Maybe an announcement this Thursday?
If the hearing is super favourable we might get an announcement re: Locke sooner rather than later?
Kicking some other thoughts around:
- Yeah, Locke might be waiting for some other possible info/outcomes as part of their DD. However, as they are the most expensive finance option AVZ might also be holding back for the moment and might only execute after other options are exhausted. Nige and Co would have greater understanding of how quickly we could recover/get funds from fines should the hearing later today go very well.
- There is still also the option of getting some negotiation done (very low probability given there is no established Government ATM)
- Surely they are also talking to the ASX re: a possible relist if that is going to happen. Not saying it will, but if Management have that as an option they must have already started those discussions already.
- The date of 31 May 2024 is an exclusivity period, so Locke must be the only live option for this type of funding or exclusivity is breached. Leaving relisting or recovery of fines as remaining options? What other options are there?
- Yeah, Locke might be waiting for some other possible info/outcomes as part of their DD. However, as they are the most expensive finance option AVZ might also be holding back for the moment and might only execute after other options are exhausted. Nige and Co would have greater understanding of how quickly we could recover/get funds from fines should the hearing later today go very well.
- There is still also the option of getting some negotiation done (very low probability given there is no established Government ATM)
- Surely they are also talking to the ASX re: a possible relist if that is going to happen. Not saying it will, but if Management have that as an option they must have already started those discussions already.
- The date of 31 May 2024 is an exclusivity period, so Locke must be the only live option for this type of funding or exclusivity is breached. Leaving relisting or recovery of fines as remaining options? What other options are there?
Cumquat Cap
Regular
I think avz working hard to ascertain whether ICSID can force coniniere and or the DRC (soon) to begin paying their fines, waiting until that has been determined before committing to Locke who are prohibitively expensive which would eat into any profit should avz soon have a liquidity event. Fiduciary duty’s and whatnot
Cumquat Cap
Regular
Avz having legal title to the largest spod mine globally, lit funding won’t be a major issue imo, Sundance easily got it for a worse mine in a similar jurisdiction
mouseflying
Regular
If they're the most expensive option, why did our smart board sign an exclusive deal with them? Are they stupid or something?
Cumquat Cap
Regular
Yeah good point and that seems ducking stupid, wonder if it pertains to lit funding or just funding options more broadly, definitely is stupid if it’s the former
Frank
Top 20
“The formation of the government will have a single, unique and primordial criterion, which is professional competence”, Judith Suminwa Tuluka
A few hours after her appointment as Prime Minister, Judith Suminwa Tuluka, published this Tuesday, April 2, 2024, in her X account that her first battles at the head of the government remain the exchange rate, lasting peace in the East and the social. And her government that she will put in place in the next few days will be called a government of professional competence.
“The formation of the next government will have only one single and overriding criterion, which is professional competence, therefore my government will be called “the government of professional competence.
My first struggles: exchange rate, lasting peace in the East, social...", she wrote
The Congolese expect more from the new Prime Minister, Judith Suminwa Tuluka, the improvement of their socio-economic situation, the stability of the exchange rate against foreign currencies and stability in the eastern part of the Democratic Republic of Congo, prey to insecurity, caused by M23 terrorists under the cover of Paul Kagame's regime.
After the appointment of the Prime Minister, here are the constitutional procedures which will lead to the inauguration of the Government
The Prime Minister, Judith Suminwa Tuluka, appointed on Monday April 1 by the President of the Republic, must in the days following her appointment, first of all proceed with the formation of her Government which must take into account national representativeness, in under article 90 of the constitution.
Then, the Government will define, in consultation with the President of the Republic, the policy of the nation and will assume responsibility for it before the National Assembly, in accordance with article 91 of the Constitution.
After the development of her Government's action plan based on government programs, the Prime Minister will present the said program to the National Assembly which will be submitted for debate.
And finally will come the stage of the investiture of the Government by the National Assembly after debate around its program.
The Government can only take office when its program is approved by an absolute majority of deputies, in accordance with article 90 of the Constitution.
However, there is another major prerequisite for the Government to be invested in the National Assembly: it is the vote and the installation of the definitive office of the lower house of Parliament, because the provisional office currently in place has not capacity, under article 114 of the Constitution, to invest the Government.
mediacongo
The Proof will be in the Pudding how "Professional" it is, let alone Competent Prime Minister
A few hours after her appointment as Prime Minister, Judith Suminwa Tuluka, published this Tuesday, April 2, 2024, in her X account that her first battles at the head of the government remain the exchange rate, lasting peace in the East and the social. And her government that she will put in place in the next few days will be called a government of professional competence.
“The formation of the next government will have only one single and overriding criterion, which is professional competence, therefore my government will be called “the government of professional competence.
My first struggles: exchange rate, lasting peace in the East, social...", she wrote
The Congolese expect more from the new Prime Minister, Judith Suminwa Tuluka, the improvement of their socio-economic situation, the stability of the exchange rate against foreign currencies and stability in the eastern part of the Democratic Republic of Congo, prey to insecurity, caused by M23 terrorists under the cover of Paul Kagame's regime.
After the appointment of the Prime Minister, here are the constitutional procedures which will lead to the inauguration of the Government
The Prime Minister, Judith Suminwa Tuluka, appointed on Monday April 1 by the President of the Republic, must in the days following her appointment, first of all proceed with the formation of her Government which must take into account national representativeness, in under article 90 of the constitution.
Then, the Government will define, in consultation with the President of the Republic, the policy of the nation and will assume responsibility for it before the National Assembly, in accordance with article 91 of the Constitution.
After the development of her Government's action plan based on government programs, the Prime Minister will present the said program to the National Assembly which will be submitted for debate.
And finally will come the stage of the investiture of the Government by the National Assembly after debate around its program.
The Government can only take office when its program is approved by an absolute majority of deputies, in accordance with article 90 of the Constitution.
However, there is another major prerequisite for the Government to be invested in the National Assembly: it is the vote and the installation of the definitive office of the lower house of Parliament, because the provisional office currently in place has not capacity, under article 114 of the Constitution, to invest the Government.
mediacongo
The Proof will be in the Pudding how "Professional" it is, let alone Competent Prime Minister
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Mr_Tones83
Regular
Update for Fat Tail... hearing scheduled for tomorrow in Perth. Hopefully this gets thrown out of court soon and there's one less thing to worry about.
Attachments
Winenut
Go AVZ!
The point I think is that in terms of funding the type that Locke provides (being finance for dispute resolution) is more expensive than other funding forms or alternatives. ie raising equity, a direct bank loan, etc etc
The Board is looking at all funding options each of which have their own inherent cost structure
Locke is having an exclusivity period as a provider of finance for dispute resolution only....not an exclusivity period for all funding options avaiable to the company
Winenut
Go AVZ!
From one Nut to another I really appreciate you posting this one for everyone's benefit
Top stuff
Mr_Tones83
Regular
Hard to tell from the wording of the terms published, but a general equity raise for the purposes of working capital for the company may not be considered 'funding of proceedings' (highlighted) IMO.
Another key point is that if Locke had determined it wouldn't proceed on due diligence already undertaken, then it would have had to immediately terminate the term sheet. That bodes well for the extension.
Attachments
RHyNO
Regular
Call of the week here I reckon Cumquat. Well spotted
BRICK
Top 20
Rediah
Regular
Not AVZ related….
Frank has often said, Future is Electric
️ , and finally we (our team) have entered that future after 8 months of hard work and are the first one in the country to start this EV race.
Our remanufacturing has gone full EV production mode last month, and these American trucks are getting bigger and better and need lots of sweet sweet lithium to get their extended range
I am in the video but not aging well because of this AVZ saga so not worth mentioning where I appear
, TDITD and CHB, don’t even try to recall , I have aged 10 years since the roadshow.
Enjoy!!
***(all the trucks are white because they are going to mines
and will be used as recovery vehicles to rescue stranded EV that are out of juice as they can do Vehicle to Vehicle charging )
Frank has often said, Future is Electric
️ , and finally we (our team) have entered that future after 8 months of hard work and are the first one in the country to start this EV race. Our remanufacturing has gone full EV production mode last month, and these American trucks are getting bigger and better and need lots of sweet sweet lithium to get their extended range
I am in the video but not aging well because of this AVZ saga so not worth mentioning where I appear
, TDITD and CHB, don’t even try to recall , I have aged 10 years since the roadshow.Enjoy!!
***(all the trucks are white because they are going to mines
and will be used as recovery vehicles to rescue stranded EV that are out of juice as they can do Vehicle to Vehicle charging )Not AVZ related….
Frank has often said, Future is Electric
Our remanufacturing has gone full EV production mode last month, and these American trucks are getting bigger and better and need lots of sweet sweet lithium to get their extended range
I am in the video but not aging well because of this AVZ saga so not worth mentioning where I appear
Enjoy!!
***(all the trucks are white because they are going to mines
Wow amazing , but really only 10 years I have aged that in 6 months , i'm back in Indonesia for my kids holidays and yes I still must fly cattle class come on AVZ
Not AVZ related….
Frank has often said, Future is Electric
Our remanufacturing has gone full EV production mode last month, and these American trucks are getting bigger and better and need lots of sweet sweet lithium to get their extended range
I am in the video but not aging well because of this AVZ saga so not worth mentioning where I appear
Enjoy!!
***(all the trucks are white because they are going to mines
I got memory of a gold fish. I'll just assume you're the guy with the most wrinkles in the video. Courtesy of the AVZ saga
if anyone asks - i had a full head of hair prior to AVZ
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