AVZ Discussion 2022
- Thread starter GazDix
- Start date
Very nice for you to say, but i think @Dave Evans , @Carlos Danger are the real champs on this forum, i am just trying to contribute where i can, thats all.
Without locke funding we would of been fucked, so you should be excited cause AVZ are funded to the end of this mess and it sends a powerful message to the evil cunts that maybe its time to do a deal, which is why Locke are leveraged with shares accordingly.......imo
Hodlandwin69
Regular
Didn't we want 20mil initially, why the reduction?? Worth a question at the AGM.
Also still makes me wonder if AVZ actually ran out of money and couldn't pay icsid until locke came through. Idk, guess we'll ask nige
Also still makes me wonder if AVZ actually ran out of money and couldn't pay icsid until locke came through. Idk, guess we'll ask nige
Looks like tomorrow is going to be a "hoot"Nige and the team dropping $15M USD the night before Christmas?? I heard it's been directly wired straight to the Herdsman Tav for the biggest tab of the year... Some would even say it's yugeeee
well, its your perogative to feel that way i guess, as for me, hope springs eternal, leave it at that
would appear so considering were drawing on the money almost immediately, the silence from board is usually a telling sign, time will tell. I gotta give it to management on how good they are at dodging bullets at AGM's, mad skills
And Beish yes Im hopeful too, and as critical as I have been of management over the last coupla years I have no answers on how it could be done better. Im just calling it how I see it, its not an emotional investment for me as it is here for many others, for me I put money in and I want money out, that is all, and anything aside from that is kaka in the wind
Flexi
Regular
US $15 mill = AU $20 mill
Excellent news that we have litigation funding.
However it's a bit concerning that there is longstop payment date being the end of 2026, with Locke holding security over all of AVZ and it's subsidiaries assets. Would that include our title over 13359, or would that be separate due to it being attributed to Dathcom? Because if we do have to go through full ICSID, and get an award, the chances we'll actually have money in our account to pay back this fund by that point is pretty minimal. Though perhaps we could get a secondary loan against the award to pay back this first one. Be cutting it pretty tight though.
Anyway, so here's hoping the pure fact that we are funded is enough to get DRC and our other opponents to come to the table and make a fair deal. That management accepted this longstop date would suggest they are confident that we'll get a deal rather than needing to go through the full ICSID process, one would think.
However it's a bit concerning that there is longstop payment date being the end of 2026, with Locke holding security over all of AVZ and it's subsidiaries assets. Would that include our title over 13359, or would that be separate due to it being attributed to Dathcom? Because if we do have to go through full ICSID, and get an award, the chances we'll actually have money in our account to pay back this fund by that point is pretty minimal. Though perhaps we could get a secondary loan against the award to pay back this first one. Be cutting it pretty tight though.
Anyway, so here's hoping the pure fact that we are funded is enough to get DRC and our other opponents to come to the table and make a fair deal. That management accepted this longstop date would suggest they are confident that we'll get a deal rather than needing to go through the full ICSID process, one would think.
Actually over $23m AUD right now, so no complaints on that one as long as it covers the court cases etc
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Hodlandwin69
Regular
Sure ok, but the original plan was for US $20 mil brah.
You could see it as a good sign that AVZ might only need up to $15 mil, but why not have it up to $20 mil and only draw what's needed anyway.
I'm all for having the funds to keep us alive for another 2 years, but just stating the facts
Because if "oh just made it $20 mil" then Lock would "oh just want some more sweeteners".
This isn't a bank loan....
Ok so 2 ways to deal with this announcement: left-brain right-brain.
Left brain
lets do the accounting and come up with some equation to determine if it's a good deal based on purely hypothetical assumptions on how this will play out and what the result will be.
Fk that, will deal with the numbers later. For now...
...Right brain:
SUCK IT ZIJIN YOU DESPICABLE #@%HOLES!!
YOU DOGS AREN'T TOUCHING THIS
WE'LL MORTAGE OR OPTION OUT AS MUCH AS WE NEED TO MAKE SURE YOU DON'T GET A SINGLE SQUARE!
Left brain
lets do the accounting and come up with some equation to determine if it's a good deal based on purely hypothetical assumptions on how this will play out and what the result will be.
Fk that, will deal with the numbers later. For now...
...Right brain:
SUCK IT ZIJIN YOU DESPICABLE #@%HOLES!!
YOU DOGS AREN'T TOUCHING THIS
WE'LL MORTAGE OR OPTION OUT AS MUCH AS WE NEED TO MAKE SURE YOU DON'T GET A SINGLE SQUARE!
I believe the Locke funding only covers legal costs. Corporate costs are excluded, which is possibly why there's a shortfall against the originally targeted sum.
AVZ still has to find a way to fund corporate costs, hence the recent convertible note raising (and presumably it was needed to be able to demonstrate to Locke that AVZ was still a going concern).
December 2026 is not that far away, especially in light of the timelines of other ICSID proceedings that we've heard about recently.
Hopefully management learn a lesson from all these last minute funding adventures and is already planning the strategy for the next round of funding come the end of the Locke deal. Or some of that temporary relief is paid out.
The stakes remain very high. One can only hope...
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