Dave Evans
Regular
My way of approaching it now is best to wait until ICSID commences. These morally bankrupt entities always settle before being put to the fire. Assuming funding okay, best to step back until mid 2025, with purported interested buyers the DRC would be mad not to let us sell RD rather than a judgement with the world bank. Key is Locke plus some opex off the back of that announcement
Here’s a few things to consider regarding ICSID damages
The DRC is obligated under international laws and their own mining code to legally protect mining investor’s operations and their right to compensation (damages) caused by violations of its Mining Code. This includes damages due to the delay in being awarded the Mining License. Damages can be assessed by the net value of the asset, equal to the net value of future cash flows. It's worth taking into account, the following things when valuing damages relating to our project:
The value of the project in the absence of violations ie the non granting of the ML
The value of the project at the start date of the production
Increased processing capacity (4.5 Mtpa to 10 Mtpa)
Updated mineral resource (840MT of SC6)
Updated ore price forecasts (SC6, PLS, Tin)
Change in mine life
Updated BFS
Remember the Mining License wasn't granted because of the bullshit excuse (in violation of the mining code) that AVZ Minerals sought to enforce it's FROR and prevent the illegal and fraudulent sale of 15% of Cominiere's shares in Dathcom to Jin Cheng Mining.
I know a lot of shareholders are sick of waiting this out. I got my first shares in a company 1989. In 2011 I owned shares in 10 companies and by 2017 I was trading shares in 25 companies. The stock market isn't easy but sometimes you just have to let the process unfold and the main thing in my view is not devaluing AVZ just because it's in a corrupt country. Our management still have to approach the DRC in respectful way and through the courts of international arbitration