AVZ Discussion 2022

wombat74

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I thought the jail sentence was revoked and just a big fine remained.
Could be wrong.
You maybe right , but I think it was his sentence got reduced from 50years to 25years . Just the fact we can now crucify these cunts at the ICSID is brilliant .
 
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Goldenboy

Regular
Actually never been.
Maybe we could all go for a few days when this shit is over.
😜
Clearly the fishing is shit there cos the cunt spends all day every day on his computer posting on a stock he doesn’t own …. Hello superHooter….🤣🤣🤣
 
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Pokok

Regular
Love all the discussion but really just show me my money i dont have 1 year 2 years even 6 months I want it now i'm tired of waiting
 
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sf120

Observer
5 board members attended: John Clarke (chair), Nigel, Graeme, Rhett, Ben.

About 50 people attended, no or very few suits.

Pretty calm/quiet atmosphere.

One of the MMGA lawyers (the one in the far left in that recently posted photo) was there in casual dress. I didn't spot Carrick, Ludbrook or Hjulich or those other two big lawyers from last time.

2-3 DLA Piper folks sat in the front row but not on stage. Their main guy was the same one from last AGM I think. He was holding a big wad of answers, kind of like last time but the board didn't have them, and Nigel was speaking freely rather than reading responses.

Start of meeting
--------------------------
JC mumbled and bumbled his way through the initial proceedings and gave a brief initial address:
- Continuing to pursue confirmation of the 13359 title.
- Locke funding secured
- Audit in progress and will be made available
- Special thanks to DLAPiper for their work

Voting
-----------
Both resolutions (Rhett Brans and Salome Sijaona) passed with about same number of votes for each - around 650M for, 50M against.

Business concluded

Overview & update (NF)
--------------------------------------
- Won't be talking technical stuff, just legal & arbitration
- Locke finding gets us what we need to get through arbitration
- DLA Piper have done the budget for the legal campaign
- Money covers arbitration legal cost, experts fees, etc
- Acknowledged that it was a tough deal but explained that Locke want a decent return for their risk but maintained that it's a small price for AVZ to pay when compared to the potential return
- Exact repayment amount depends on level of draw down and time (there's some kind of time multiplier)
- Board's objective is to get the value out ASAP (NF referred to this several times throughout)
- 60m shares from ATM will go to Locke ASAP
- ICSID: we're in the box seat and have been getting minor wins
- ICC (Dathcom JV): hearing next week; have been winning 99% of matters so far
- ICC (Jin Cheng): pushing hard
- ICC (Dathomir 15%): has been movement recently; pushing hard; Locke funding gives us more' bump'

Expressed desire to talk about geology. "The deposit is still there."

Summarised with the need to get the funding and maximise the return through whatever avenue will most likely deliver value to shareholders.

Questions
----------------

When can we expect to re list?
- lot of legal action to go before that
- expects legal proceedings to end 2026/2027 (I was a bit surprised by the 27 bit, given Locke conditions)
- could also play out with DLA Piper enforcing penalties
- or could get the licence
- it will be 6-12 months at least (I didn't really follow this answer, seemed all over the place)

Have there been any off market transfers of shares?
- have seen some go through
- not large amounts
- appears to be same entity transferring to itself(?)

What is the current valuation of the asset?
-[slight exasperation from NF] anywhere from $2.5 - 10B (unclear if that was USD)

What is our strategy: mining or takeover?
- "let me put the same question to you?"
[when pressed NF continued]
- Not worried about Zijin, only a small part of government is in with Zijin
- talk of a bad relationship with the government is rubbish
- if we put this into production it's going to be another 18 months of waiting (NF's tone seemed to be "is that what you really want?")
- JC interjected at this point and said in his opinion, focusing on building the mine would deliver best value (interesting difference of opinion, expressed openly; this was the only time any of the other board spoke during Q&A I think)

Status of the 20m escrow account?
- AVZ has filed a complaint
- They have no access to the account
- Status of account is unknown

Kobold's visit to Manono?
- Done without AVZ's permission
- No-one accessed AVZ's core samples
- They weren't weren't with us
- They weren't on our site

How is the relationship with the DRC government?
- it's not all of the DRC government making trouble
- MoM has been misled; with the funding it will be clear that AVZ isn't falling over
- Funding means we have a bigger stick
- the president now has a problem: either AVZ litigates or Zijin does (implication here seemed to be 'negotiate')
- AVZ's remaining portion of the subdivided 13359 holds 95% of the DFS value with a life of 50-100years
- MoM must now come to the table and talk

What is the company valuation now?
- can't put a value on it right now

ICSID outstanding payment?
- Neither side has paid
- AVZ can now sort it out ASAP with Locke funds

Travel to DRC
(I thought both NF and BC looked a bit uncomfortable/sheepish)
- not as often as we'd like to
- needed to save money
- visited "about twice" in 2024

Status of local Fat Tail case ?
- still in discovery

What is the overall objective of the ICSID action?
- we'll show the DRC we're not going away; aim is to negotiate
- otherwise will enforce penalties; we have an expert in NYC preparing for this avenue
- expect a domino effect with the various cases

Can we be confident of working in the DRC if we get the PE?
- If government has the confidence to grant us the PE they will be confident of working with us
- tax and community benefits
- it's only a small obstructive group working against us

Are we looking at raising further funds?
- yes
- if you want to contribute, contact AVZ admin and they will send paperwork

Is the US government aware of the situation?
- yes. Kamala Harris in particular
- Ambassador and a "group in Texas" (huh?) are also onto it

What about Australian government?
- "I'm not going to answer that one"
- they're ambivalent
- joked about the WA government's assistance for lithium miners: where's ours?

End of meeting

I was left with the distinct impression that Nigel is looking for a quick end to this in a way that provides a decent return to shareholders. It was a recurring theme; those references were peppered throughout. I don't think he wants to go mining.
great summary! thanks for sharing
 

UtterMoron

Regular
We're finally going to war, I've about an 18 month buffer on my mortgage before I need to defer. Hopefully something fruitful comes of this and we start trading into 2026 at the latest
 
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sf120

Observer
whilst there is alot of positivitity with Locke, i also feel we arent being informed as to why it took a year. 5 mil in working capital as the dealy breaker?

I think there is more to it and i worry if avz has dirt on their hands in any way.

Alternatively they were playing a "hope it resolves" before card and it failed.

But ultimately the path avz is going on is not the only path, they absolutely need to engage aus government into action. They can do this through the shareholder base engaging social media etc, but they choose not to leverage what is a passionate and committed shareholder base.

If avz does get a buy-out, you can rest assured FIRB will jump in at that point and likely create complexity.

Our government is a reactive government, AVZ needs to do more here... Where is the EU? The US is hopeful. we are talking about EV supply chain and it fall straight into what is a key geopolitical conversation right now.. AVZ needs to up their media campaign
 

pow4ade

Regular
Clearly the fishing is shit there cos the cunt spends all day every day on his computer posting on a stock he doesn’t own …. Hello superHooter….🤣🤣🤣
Maybe check out the annual UFO festival, looks like a hoot:

 
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Has the tide turned enough that AVZ are no longer legally bound to the CATH Strategic Partnership and now can negotiate with Western or Middle East?
Considering that CATH voted against us .
Cheers
We only needed them if we were going to mine in the ‘before’ days. They can also fuck right off.
 
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Bin59

Regular
1733008570484.jpeg


A press briefing was held last week prior to Biden’s visit to Angola from 2-4 December, it states there will be a number of announcements made during his visit, including some around infrastructure for the Lobito Corridor.


Also a huge thanks to everyone who shared their thoughts and notes from the AGM 👍
 
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20%? Isn't it a $20mil break free ?
Only if the agreement is current at the time at which we make said break.

if it expires and is not extended, no break fee is applicable.

That’s my read on it, at least.
 
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wombat74

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Been outside of reception over the weekend, so catching up on everyone's input now. Just throwing in my thanks to the feedback posted from those that attended the AGM and relayed it here. There's a much more positive tone on the back of securing the funding from Locke, and hopefully renewed energy on the board to really start driving this home via legal proceedings. I want my fucking money, but I'm not willing to accept some piss-ant offer either. I want to see a justified ROI from all the bullshit we've been put through from Chyna, corrupt cunts in the DRC, and the domestic fucknuts that have been actively working to undermine the company. Still a long road ahead, but I feel better about it all than I did a few days ago.
 
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Frank

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BREAKING NEWS (1).jpg

AVZ Minerals Secures $15 Million Litigation Funding for DRC Disputes

AVZ Minerals Limited, a lithium mining company, has secured $15 million in litigation funding from Locke Capital II to support its legal efforts related to disputes over its mining projects, including the Manono project in the Democratic Republic of Congo (DRC).

AVZ CEO Nigel Ferguson expressed satisfaction with the agreement, stating on November 28: “Locke, a global litigation funder with a strong track record, has approved funding for AVZ, validating our strong position in these disputes and paving the way for a successful resolution.”

The company plans to draw an initial tranche of funds in December 2024, emphasizing its commitment to defending its legal rights for the benefit of shareholders and stakeholders, while advancing the Manono project.

The funding will exclusively cover legal fees for multiple arbitration proceedings, including:
  • Three ICC cases involving Congolaise d’Exploitation Minière and Jin Cheng Mining Company.
  • Two ICC cases involving Dathomir Mining Resources SARLU.
  • ICSID arbitration against the DRC.
  • It will also support other related disputes involving AVZ Minerals and its affiliates.
This funding arrangement allows AVZ to pursue critical legal battles without diverting resources from operational activities, underscoring the challenges of safeguarding interests in the lithium sector—key to the global energy transition.

#ItsOn.jpg
 
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hedrox

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Vanfeder

Emerged
Thanks to everyone who reported from the AGM. I am well aware about general sentiment, that many of us want this saga has eventully a (happy) ending. My point of concern is the timing with lithium prices at the very low. Just had to observe the take over of Arcadium Lithium. I bought into Livent few years ago (basicall during the boom), then it merged with Allkem building Arcadium and now the company goes to Rio Tinto. With premium of rd. 90% on top of current share price i am still 30% in red. And Rio Tinto states on their website straight away, that they consider current market with low prices and low valuations being a favourable moment for acquisitions.
 
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It’s hard keeping track of who’s doing what, and to whom.

Can someone please do me favour and compile a list of all the people in the DRC who are not crooks.
 
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Winenut

TROLLS LIVE IN BASEMENTS WITH THEIR MUMS
View attachment 73630

Christian has nothing to fear if he has nothing to do with it.

Pretty fucking simple really
 
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Remark

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It’s hard keeping track of who’s doing what, and to whom.

Can someone please do me favour and compile a list of all the people in the DRC who are not crooks.

That's gonna to be a really short list
 
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Frank

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Rediah

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IMG_1751.jpg


 
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