AVZ Discussion 2022

[Rediah]

shit mate im 65 and I look young enough to be his son

I was thinking he should try some procedures since his identity is known; he had all the reasons before and now even more. But it might not help him, especially if he ends up in a DRC prison.

Reminds me of a very disturbing Antonio Banderas movie, Spoiler Alert The Skin I live In

 

[Samus]

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[Carlos Danger]

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The Company has resolved to appoint a new legal counsel in the Democratic Republic of Congo. Draw a conclusion out of that.

Pretty sure it was different lawyers. $1.653m USD was claimed owed by Jean-Marcel Kabeya Mbuyi for work done for AVZ and Dathcom in the lead up to the ML being granted. And we haven't employed him since 2022 so there would be no need to switch lawyers now if it was him. Plus he was claiming shares in Dathcom for non payment not the money in escrow. Also it was Christian Lukusa that provided all the documentation around the Dathomir transfer in that interview 2 years ago and he was still our principal lawyer in country up until now as far as I was aware. But I could be wrong and the two events could be coincindental but I doubt it. Would have been nice to get a bit more detail.
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[Samus]

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That same fuckwit journalist published this previously:

Tribune - Defeat again: AVZ shares in Dathcom remain seized! (Christian Kakule)​

The Gombe High Court decided on 25 June to maintain the seizure of shares held by the Australian mining company AVZ Minerals in DATHCOM MINING, with all legal costs being borne by AVZ. Thus, AVZ's main asset has been seized for more than six months, with the risk of being sold by creditors.
However, AVZ has never made this information public.

Tribune - Défaite de nouveau : les actions d'AVZ dans Dathcom restent saisies ! (Christian Kakule)

Le tribunal de grande instance de Gombe a décidé, le 25 juin dernier, de maintenir la saisie des actions détenues par la société minière australienne AVZ Minerals dans DATHCOM MINING, tous les frais de justice étant à la charge d'AVZ. Ainsi, le principal actif d'AVZ est saisi depuis plus de six...

7sur7.cd

 

[Bin59]

Presentation of the new seal of the Republic to the Minister of Mines


Bymines
July 30, 2024

The new official seal of the State given to the Minister of Mines, His Excellency Mr. Kizito PAKABOMBA.

As part of the campaign launched by the Government via the Minister of State for Justice, Constant MUTAMBA to combat counterfeiting and falsification of official documents in order to guarantee the authenticity of official documents.

 

[oxxa23]

Presentation of the new seal of the Republic to the Minister of Mines


Bymines
July 30, 2024

View attachment 67502
The new official seal of the State given to the Minister of Mines, His Excellency Mr. Kizito PAKABOMBA.

As part of the campaign launched by the Government via the Minister of State for Justice, Constant MUTAMBA to combat counterfeiting and falsification of official documents in order to guarantee the authenticity of official documents.

What's the odds of that being #1 of 113 made?

They'll be putting them in showbags at the local fair...

 

[PutUsernameHere]

Just adding a Friday funny late cause Boomers v Greece + AVZ are fucking disappointing

 

[BRICK]

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get a set of shoulder cunt. (oh and some hair)

 

[Cumquat Cap]

Spec capital aka Scott is the literal guy I think of sitting in his mums basement throwing shade on companies. What a gremlin of a man

 

[Carlos Danger]

So if the $20mil in escrow can only be released by a judge's signature ,and Kibeya's wife is a judge , would it be a far stretch to link the two ?

Key word unauthorised imo

 

[Carlos Danger]

What do you think the chances of getting the $20mil back ?

We don't know if it is the full $20m

Announcement said the company has been made aware of allegations of unauthorised transactions (note plural) involving the company's escrow account in the DRC

The fact that this announcement has been made at the same time that the company announced they are still working on a security package for the Locke deal and we are changing lawyers leads me to think that we got to the pointy end of the term sheet agreement and AVZ were planning to use the idea I floated here months ago about using the potential damages claim from the Dathomir ICC case (Due in September last we were updated) as security with the $20m in escrow being the easiest path to liquidation of said damages and Locke agreed but when they went to Christian Lukusa to show proof of funds there wasn't the full $20m available. Although again this is all speculation on my part but Lukusa defo had the funds if that payment details report is accurate.

My dealings with escrow accounts is that they are just another bank account held by the lawyers. They are legally obliged not to touch it but can very easily if they want to. I can't think of any other reason for us to all of a sudden be appointing a new legal councel at the exact same time this escrow issue has come up.

To get back any funds that have been allegedly transacted without authorisation we will need to take legal action. As the announcement says AVZ is investigating these allegations, including any potential wrongdoing, and to the extent there have been any unauthorised transactions in respect of the account, AVZ will take all necessary actions required. Looks like yet another legal front will be opened in this infinite quagmire imo

 

[Doc]

What do you think the chances of getting the $20mil back ?

About the same as getting the ML

 

[BRICK]

We don't know if it is the full $20m

Announcement said the company has been made aware of allegations of unauthorised transactions (note plural) involving the company's escrow account in the DRC

The fact that this announcement has been made at the same time that the company announced they are still working on a security package for the Locke deal and we are changing lawyers leads me to think that we got to the pointy end of the term sheet agreement and AVZ were planning to use the idea I floated here months ago about using the potential damages claim from the Dathomir ICC case (Due in September last we were updated) as security with the $20m in escrow being the easiest path to liquidation of said damages and Locke agreed but when they went to Christian Lukusa to show proof of funds there wasn't the full $20m available. Although again this is all speculation on my part but Lukusa defo had the funds if that payment details report is accurate.

My dealings with escrow accounts is that they are just another bank account held by the lawyers. They are legally obliged not to touch it but can very easily if they want to. I can't think of any other reason for us to all of a sudden be appointing a new legal councel at the exact same time this escrow issue has come up.

To get back any funds that have been allegedly transacted without authorisation we will need to take legal action. As the announcement says AVZ is investigating these allegations, including any potential wrongdoing, and to the extent there have been any unauthorised transactions in respect of the account, AVZ will take all necessary actions required. Looks like yet another legal front will be opened in this infinite quagmire imo

Maybe a few hundred k for office leasing that turned out to be a new porche?

 

[CHB]

Maybe a few hundred k for office leasing that turned out to be a new porche?

My guess is more if they're looking to raise some funds.

 

[Lucas Don Velor]

What's the odds of that being #1 of 113 made?

They'll be putting them in showbags at the local fair...

What are the odds, the seal has a 'Made in China' sticker on it!

 

[Hombre]

How can one country spruick so much shit about anti corruption blah blah and do absolutely fuck all blows my mind

It's called 'projection', or Donald Trump syndrome.
You say the exact opposite of what you actually do, intend to do.
Funnily enough it fools most people the first time, but only the stupid the second time (unless you're married to her/him lol).
The fish rots from the head, same for DRC and Trump.

 

[Roger2018]

Did anyone catch old mate Scott on the money of mine podcast?

 

[Carlos Danger]

It's called 'projection', or Donald Trump syndrome.
You say the exact opposite of what you actually do, intend to do.
Funnily enough it fools most people the first time, but only the stupid the second time (unless you're married to her/him lol).
The fish rots from the head, same for DRC and Trump.

That's not what projection means

 

[Hombre]

I'm coming to the conclusion that Nigel + 1 or 2 key staff should have been located in a DRC office/apartment from day 1, with twice yearly trips back to Oz for a road show/AGM. Then they could have made daily appearances at key DRC offices to maintain visibility and momentum, to monitor 1st hand the bank accounts, to deal with and get ahead of issues as they arose.

This whole thing of not being co-located in DRC and just trusting the host nationals to do the right thing was really naive.
We're talking about a multi-billion dollar investment, $100's of millions of our hard-earned.
We're talking about the DRC, the acknowledge and well known corruption capital of the world and has been for decades.

It doesn't happen with WR1's investment in Canada, which has offices with the Chair & key staff co-located in the host country, right through COVID.

 

[oxxa23]

I'm coming to the conclusion that Nigel + 1 or 2 key staff should have been located in a DRC office/apartment from day 1, with twice yearly trips back to Oz for a road show/AGM. Then they could have made daily appearances at key DRC offices to maintain visibility and momentum, to monitor 1st hand the bank accounts, to deal with and get ahead of issues as they arose.

This whole thing of not being co-located in DRC and just trusting the host nationals to do the right thing was really naive.
We're talking about a multi-billion dollar investment, $100's of millions of our hard-earned.
We're talking about the DRC, the acknowledge and well known corruption capital of the world and has been for decades.

It doesn't happen with WR1's investment in Canada, which has offices with the Chair & key staff co-located in the host country, right through COVID.

it was naive, but, we were also all naive... very easy in hindsight.... i was worried about the one or two corrupt pricks in the drc.... turns out we just couldn't find the one or two people who aren't corrupt pricks in the drc...