If anybody has a legitimate source about the reason for the AFP warrant (and I'm sure AVZ will be taking this to their lawyers - which is why they are currently silent on the matter) - and the reason is due to a false claim from Carrot dick et al, please lodge the complaint here.
www.afp.gov.au
AVZ Discussion 2022
- Thread starter GazDix
- Start date
Retrobyte
Hates a beer
Government splashes $475m on rare earths refinery to challenge China's monopoly
The funding is aimed at increasing the domestic refining of critical minerals, which are key to technologies used in the transition to green energy.www.abc.net.au
So, its ok for the Australian Govt to support Iluka in its moment of crisis, but not AVZ, both bellwether coys in the critical mineral space with the latter posing the bigger dilemma if it falls in the wrong hands.
Oh, thats right, i forgot..... Iluka is ASX listed and AVZ aint, its a private coy ( thru no fault of its own ) , so stiff shit.
Yep Albo, that makes perfect sense.
Cunt.
I can't see the Australian Govt riding in on a white horse to save AVZ shareholders. They won't care unless the resouce happened to be located in Australia, which is probably understandable given shareholders are the ones who chose to invest in the DRC.
Was ok for Australian Govt to stick their beak in with the FIRB when it suited them.
Retrobyte,
Both the Western Australian Government and the Australian Federal Government need to care because if AVZ loses control of the Manono Mine then it will be very detrimental to the lithium mines in Australia. The WA Government has allocated funding for WA Lithium Mines but that will be useless unless they back AVZ.
Forewarned is forearmed as they say.
It is not a very good look if an Australian Company gets support from overseas Governments because its' own Government wont support it.
Regards,
SilentOne
Its detrimental to Aus miners regardless of who the miner of Manono is.
And when FIRB stepped in that was a positive for the company at the time.
Don't believe we will get any help from Australian Federal Government. To get involved it would need to explain why and that would require criticizing China's involvement. That is not going to happen. We have just won back crayfish, wine, beef contracts. Albo is not going to put that at risk again. Albanese said "We will cooperate where we can, disagree where we must and engage in the national interest." Albo is too weak to act on that statement.
This makes sense, as Carrick was always Parrotting on about AVZ's allegedly fraudelent activities, throwing various shit claims at the wall to see what might stick. I'm reasonably confident that they must have packaged up enough dirt or claims of malfeasance that read bad enough for the AFP to act and investigate, but will turn out to be baseless.
Nothing to see here IMO, just another angle to the Fat Tail maneuverings, both in their own interests and that of their foreign backers.
Exactly
Well its a FACT Australia wont be a white horse, despite all of AVZ attempts to reach out to them pleading for assistance, it was stated by Nigel at the AGM.
Australia is a member of the critical mineral pact, designed to develop supply chains outside of China, AVZ would / should of been a huge representative of that pact with its purported 30% of world lithium supply.........yet crickets.
This article perfectly sums up the equation, it has the vision, sadly Albanese doesnt have it and the consequences will be on his shoulders, should China control Manono.
China’s control and coercion in critical minerals | The Strategist
This is the first of two parts of an article on coercive threats to critical minerals supply and what Australia and its critical minerals partners are doing and should do to counter them. Markets ...
A good read, even mentions AVZ & LEO
On the flip side if the AFP turn around and say whatever claim against AVZ is deemed to be false it actually strengthens AVZ case against detractors.
A desperate ploy by the other team that may actually prove to help us imo.
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Retrobyte
Hates a beer
I hear you, and agree, but I don't think it will happen. Every man and his dog has been emailing Penny Wong and every other government official that has an email address but other than "yes minister" canned responses nothing has happened.
Hi Retrobyte,
Emailing is probably not the best way to go as it can get picked up by Spam Filters and claimed that it was in their Junk.
My job finishes in about 2 weeks, what I am intending to do is send Letters that are registered so that they have to be signed for. Then there is no denial that they have been received.
I know that some shareholders have confirmed that they have received responses that are vague and very non-committal from Government officials.
My two-week delay will provide sufficient time to find out what the AFP raid was all about and that may strengthen our case further.
This may amount to nothing, but I am happy to give it a go and see what transpires.
Regards,
SilentOne.
Dave Evans
Regular
I believe it was a planned move that those working against our BOD tried to get in ahead of the AGM (As someone mentioned earlier) and I believe attacks related to it had previously begun on twitter
I also believe it was designed to shock and scare shareholders, as well as an attempt to undermine our BOD and foil plans of our litigation funding
Finally I believe DLA Piper will have no trouble dealing with it on our behalf so I don’t think shareholders need to do anything, but it’s great to see shareholders continue to fight for our rights. As far as our govt, there are two shareholders I know who have govt contacts so they know our situation and this latest stunt may have been brought on by a shareholder with a substantial holding making a complaint
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Re: AFP search of AVZ's Perth offices
I am hopeful and quietly confident of a good outcome for AVZ and us shareholders. However, I have two concerns:
First, the AFP does not go around casually obtaining and executing search warrants in the absence of at least some prima-face evidence of wrong-doing by somebody. Evidence of some sort must have been presented to the AFP in order for them to obtain a search warrant, and then conduct the search.
The area where I feel AVZ may be exposed, innocently or otherwise, is Cong Ma's missing escrow money. Cong is sufficiently influential to bribe a DRC judicial or parliamentary official to make a formal complaint to the AFP.
Similarly, AVZ's previous in-country legal councel may have helped itself to some or all the money in the escrow account. After all, they set it up and apparently retained operating authority. They have a lot to gain by shifting the blame to AVZ.
Similarly, a group of Chinese shareholders with links to China and a lot of shares may have made a complaint in order to bring down management and subsequently the company. However, I have absolutely no supporting evidence.
Regardless of who is responsible for what, the mere whiff of cross-border wrong-doing is sufficient for the AFP to circle the wagons and start shooting.
Second, if AVZ board members are found to have a case to answer, or are found to have breached their directors' duties in some way, it may result in Locke withdrawing its line of credit. If this happens, it will probably signal the end of AVZ. Replacement commercial litigation funding would be unobtainable, and we can all say goodbye to our investments.
Having said that, I am glad AVZ has DLA Piper on its side.
Clearly, there are other areas of concern, including AVZ's association and subsequent disassociation with Marius Mihago, but the escrow account is where I feel AVZ has a weak point.
Just thinking out aloud, and quietly hopeful.
Cheers
F
I am hopeful and quietly confident of a good outcome for AVZ and us shareholders. However, I have two concerns:
First, the AFP does not go around casually obtaining and executing search warrants in the absence of at least some prima-face evidence of wrong-doing by somebody. Evidence of some sort must have been presented to the AFP in order for them to obtain a search warrant, and then conduct the search.
The area where I feel AVZ may be exposed, innocently or otherwise, is Cong Ma's missing escrow money. Cong is sufficiently influential to bribe a DRC judicial or parliamentary official to make a formal complaint to the AFP.
Similarly, AVZ's previous in-country legal councel may have helped itself to some or all the money in the escrow account. After all, they set it up and apparently retained operating authority. They have a lot to gain by shifting the blame to AVZ.
Similarly, a group of Chinese shareholders with links to China and a lot of shares may have made a complaint in order to bring down management and subsequently the company. However, I have absolutely no supporting evidence.
Regardless of who is responsible for what, the mere whiff of cross-border wrong-doing is sufficient for the AFP to circle the wagons and start shooting.
Second, if AVZ board members are found to have a case to answer, or are found to have breached their directors' duties in some way, it may result in Locke withdrawing its line of credit. If this happens, it will probably signal the end of AVZ. Replacement commercial litigation funding would be unobtainable, and we can all say goodbye to our investments.
Having said that, I am glad AVZ has DLA Piper on its side.
Clearly, there are other areas of concern, including AVZ's association and subsequent disassociation with Marius Mihago, but the escrow account is where I feel AVZ has a weak point.
Just thinking out aloud, and quietly hopeful.
Cheers
F
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I strongly suspect business practices in the drc are not the same as ours and we now know corruption seems endemic in the drc. I have no doubt, someone who wanted to cause trouble, could twist things and make them seem questionable sufficiently to generate an investigation by the AFP.
Lets face it, the other side have constantly leveraged the judiciary to slow things down, run avz funds down and sow discontent. This latest episode is just another play in their playbook of how to fuck avz and their shareholders over. AVZ plays by the law, whereas the other side plays outside but leverages the framework that avz is bound to. I'd like to think the authorities see through this but I do wonder if thats true and if anyone other than avz shareholders actually gives a fuck.
Lets face it, the other side have constantly leveraged the judiciary to slow things down, run avz funds down and sow discontent. This latest episode is just another play in their playbook of how to fuck avz and their shareholders over. AVZ plays by the law, whereas the other side plays outside but leverages the framework that avz is bound to. I'd like to think the authorities see through this but I do wonder if thats true and if anyone other than avz shareholders actually gives a fuck.
Cumquat Cap
Regular
Luckily for us we have one of the largest law firms globally on our side who vetted every Director and action over the past 3 years. Not one piece of evidence of any misconduct by our team.
I suspect manga’s lawyer Martin Bennett leveraging his 40+ years of experience to ensure raid goes ahead.
Apparently they found nothing of significance. Another dodgy
Attempt by our detractors and another reason to back the board.
I suspect manga’s lawyer Martin Bennett leveraging his 40+ years of experience to ensure raid goes ahead.
Apparently they found nothing of significance. Another dodgy
Attempt by our detractors and another reason to back the board.
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