Thanks to Amovatio on the crapper yesterday.
Sorry if already posted.
FYI:
Hello AVZ's ,
Following on from the Locke Funding Announcement and AGM does anyone have an update on the following Legal Case-
Dathcom JV dispute (Zijin/Dathomir) – From the AGM this hearing was to be the following week. Jincheng disputing our pre-emptive rights/Dathomir challenge over our 15% in Dathcom.
The outcome of this case will undoubtedly put us in the box seat for the ICC and ICSID Arbitration Cases – Title for 13359 ICSID claim against DRC.
Jincheng would have exhausted all avenues to gaining a small portion of Manono. So how does the DRC propose to meet its fine obligations and the economic fallout from these Arbitration hearings.
Will the DRC show its allegiance to China sooner to access the $50B offered by the Chinese President when Felix visited China a couple of months back as part of the African nations visit. This would certainly cover a negotiated settlement for the DRC to pay out AVZ and allow the Chinese to proceed full steam ahead with its quest to obtain control and dominance over the global Lithium market and other assets in the DRC. Or does the DRC favour the side of the recent US funding offer for the Lobito project. Without doubt any commitment shown by the DRC towards China would halt this funding and put the DRC at loggerheads again with its neighbours and international community.
IMO the DRC wanting to head to Arbitration is a smoke screen for the current negotiations that are proceeding. For the DRC to proceed and wait for a verdict to come out from an International court virtually condemning them for allowing this corruption to be played out would be suicidal to attracting future Western investment and this would not look great for wanting to attract other funding from international agencies such as the World Bank. Such a decision on the world stage would most certainly keep the critical resources in the ground indefinitely. The DRC cannot afford further delays in benefitting from the sale of its critical resources. It must act now to award the Full Mining Licence or pay out AVZ. A decision has to be made early in the new year and not allow Arbitration to proceed.
Felix is aware of the International pressures he is now faced with. How much longer does he let this go on before coming up with an outcome to break the deadlock?
Choosing to proceed to Arbitration will expose the names of his DRC Ministers, Cominiere Directors and China co as part of a consortium to steal Manono. This is guaranteed. Proceeding to Arbitration next June allows the Court process to run its course and deliver its verdict.
Felix may be deciding to do this so it publicly distances him from any responsibility while showing loyalty to his Ministers and their actions. When the verdict drops however, that loyalty will be lost and he will have the International verdict to prosecute those people directly responsible for the corruption and misconduct that has embarrassed his Nation. His hand will almost certainly be forced to jail all perpetrators and expel the Chinese miners from the DRC. The people will hold him to this.
The dilemna for Felix is does he wait for the verdict from the ICSID which will hold the DRC accountable for a $10B pay out. Alternatively, does he try and reach an agreement now, before Arbitration. The Arbitration verdict may determine AVZ retains the rights and entitlement to a full licence to Manono under International Law along with the payment of fines. Is the DRC willing to accept this outcome?
IMO their hand is now forced to reach an amicable settlement or risk the consequences of an international verdict and the fallout from this for many years to come.
The outcome for AVZ shareholders in the new year is looking extremely promising and we can only hope common senses prevails to reach an outcome soon.
Thanks to the AVZ Directors, Piper lawyers and Locke for the support provided to protect shareholder interests. Lets stop the corruption now, DRC!
Sorry if already posted.
FYI:
Hello AVZ's ,
Following on from the Locke Funding Announcement and AGM does anyone have an update on the following Legal Case-
Dathcom JV dispute (Zijin/Dathomir) – From the AGM this hearing was to be the following week. Jincheng disputing our pre-emptive rights/Dathomir challenge over our 15% in Dathcom.
The outcome of this case will undoubtedly put us in the box seat for the ICC and ICSID Arbitration Cases – Title for 13359 ICSID claim against DRC.
Jincheng would have exhausted all avenues to gaining a small portion of Manono. So how does the DRC propose to meet its fine obligations and the economic fallout from these Arbitration hearings.
Will the DRC show its allegiance to China sooner to access the $50B offered by the Chinese President when Felix visited China a couple of months back as part of the African nations visit. This would certainly cover a negotiated settlement for the DRC to pay out AVZ and allow the Chinese to proceed full steam ahead with its quest to obtain control and dominance over the global Lithium market and other assets in the DRC. Or does the DRC favour the side of the recent US funding offer for the Lobito project. Without doubt any commitment shown by the DRC towards China would halt this funding and put the DRC at loggerheads again with its neighbours and international community.
IMO the DRC wanting to head to Arbitration is a smoke screen for the current negotiations that are proceeding. For the DRC to proceed and wait for a verdict to come out from an International court virtually condemning them for allowing this corruption to be played out would be suicidal to attracting future Western investment and this would not look great for wanting to attract other funding from international agencies such as the World Bank. Such a decision on the world stage would most certainly keep the critical resources in the ground indefinitely. The DRC cannot afford further delays in benefitting from the sale of its critical resources. It must act now to award the Full Mining Licence or pay out AVZ. A decision has to be made early in the new year and not allow Arbitration to proceed.
Felix is aware of the International pressures he is now faced with. How much longer does he let this go on before coming up with an outcome to break the deadlock?
Choosing to proceed to Arbitration will expose the names of his DRC Ministers, Cominiere Directors and China co as part of a consortium to steal Manono. This is guaranteed. Proceeding to Arbitration next June allows the Court process to run its course and deliver its verdict.
Felix may be deciding to do this so it publicly distances him from any responsibility while showing loyalty to his Ministers and their actions. When the verdict drops however, that loyalty will be lost and he will have the International verdict to prosecute those people directly responsible for the corruption and misconduct that has embarrassed his Nation. His hand will almost certainly be forced to jail all perpetrators and expel the Chinese miners from the DRC. The people will hold him to this.
The dilemna for Felix is does he wait for the verdict from the ICSID which will hold the DRC accountable for a $10B pay out. Alternatively, does he try and reach an agreement now, before Arbitration. The Arbitration verdict may determine AVZ retains the rights and entitlement to a full licence to Manono under International Law along with the payment of fines. Is the DRC willing to accept this outcome?
IMO their hand is now forced to reach an amicable settlement or risk the consequences of an international verdict and the fallout from this for many years to come.
The outcome for AVZ shareholders in the new year is looking extremely promising and we can only hope common senses prevails to reach an outcome soon.
Thanks to the AVZ Directors, Piper lawyers and Locke for the support provided to protect shareholder interests. Lets stop the corruption now, DRC!