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Agree Carlos!
On another point given CATH already own 7.1% of all current AVZ shares are these part of GLH or AVZ direct. If AVZ direct, then their holdings is naturally higher overall.
AVZ Discussion 2022
- Thread starter GazDix
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On another point given CATH already own 7.1% of all current AVZ shares are these part of GLH or AVZ direct. If AVZ direct, then their holdings is naturally higher overall.
Yes, I understand what you are saying.
At the same time the Chinese cannot be trusted or taken at their word. Regardless of whether it's CATL, Pei or Zijin, they all play to Beijing's song book. I can't see AVZ's legal team, DLA Piper agreeing that AVZ relinquish its negotiation position to the Chinese.
En RDC, la bataille pour le lithium de Manono oppose aussi des groupes chinois
Le chinois Zijin Mining devrait commencer l’exploitation du gisement de lithium de Manono en 2026. Or, la propriété de ce projet situé en RDC fait
More reporting on the AVZ CATH deal.
Carlos Danger
Top 20
They are part of that 7.1% (biggest part) but yes otherwise true
So ultimate profit share on an indirect basis from Manono is even higher for CATH than 30.5% when factoring in their direct and indirect holdings in AVZ
It also adds weight to Pei's unoffical indirect control of the project imo
Mate, there was a series of pie charts along these lines published a while back, not sure if it was an AVZ announcement or through media. Will post them if I can find them.
Samus
Top 20
Let's not forget that CATH/Mr Pee Pees haven't lifted a finger to help out AVZ over the past couple of years, if anything they've sided with the other Chinese in attempting a hostile takeover of AVZ using the MMAGOTS.
Perhaps the Chinese have realised they're up shit Creek with regards to getting away with stealing the whole tenement and changed tactics to hedge their bets either way.
We need to finally see some action from CATH for a start, why didn't they come to an arrangement for funding until after the Locke funding deal was finalised?
It all seems like a positive turn of events in the end but with the zijin cockroaches and criminals of cominiere dug in to our tenement having stolen the camp, water, hydro plant etc there seems like a bit of a way to go for any sort of resolution.
I'd like to see the arbitration fees paid (yesterday) using CATH money and a bit of noise from them in support of AVZ. That'd be a good start.
It's still the snails pace of the various arbitrations bogging us down, we need some definitive legal wins under our belt. Sooner the better, it's unbelievable that it's taken this long as the DRC ignore all rulings and illegally progress Manono Lithium in contravention of their own mining code.
Great progress finally but this should have happened 12 months ago if CATH could really be trusted so we can't get complacent and we need to see some (hopefully rapid) progression from this point.
Whatever happens I hope we get the opportunity to sell either through a market listing or the entire company. Fuck this shit to hell and back.
Perhaps the Chinese have realised they're up shit Creek with regards to getting away with stealing the whole tenement and changed tactics to hedge their bets either way.
We need to finally see some action from CATH for a start, why didn't they come to an arrangement for funding until after the Locke funding deal was finalised?
It all seems like a positive turn of events in the end but with the zijin cockroaches and criminals of cominiere dug in to our tenement having stolen the camp, water, hydro plant etc there seems like a bit of a way to go for any sort of resolution.
I'd like to see the arbitration fees paid (yesterday) using CATH money and a bit of noise from them in support of AVZ. That'd be a good start.
It's still the snails pace of the various arbitrations bogging us down, we need some definitive legal wins under our belt. Sooner the better, it's unbelievable that it's taken this long as the DRC ignore all rulings and illegally progress Manono Lithium in contravention of their own mining code.
Great progress finally but this should have happened 12 months ago if CATH could really be trusted so we can't get complacent and we need to see some (hopefully rapid) progression from this point.
Whatever happens I hope we get the opportunity to sell either through a market listing or the entire company. Fuck this shit to hell and back.
Carlos Danger
Top 20
Yeah my point is a bit more nuanced
Like I've said repeatedly AVZ will maintain legal control of the project to satisfy shareholders and western governments
But Nigel will only override Pei on a major disagreement about something serious when it comes to action on the ground imo
So have CATH provided the $20 million already? AS in it's sitting in a SAFE bank account ready to be drawn down on? or is that subject to ML being delivered? I got lost a tad in the wording. Also the Locke Funding it seems we've canned it completely... I'd have liked for that to be there ready in case funny busines goes on.
Carlos Danger
Top 20
The exact amount we are borrowing is how much was in escrow under the original TIA terms
'Released to CATH' is pretty vague
I reckon the fine print of the restructured TIA deal ensures we get access to this money in tranches under approval from CATH with the first $10m guaranteed by end of this month imo
Winenut
GO AVZ!!!!
Thanks mate
I've been pouring over past presentations from the company, annual reports, the different threads on AVZ here, general googles searches on each of the entities eg Green Lithium Holdings Pte Ltd (Singapore I think), AVZ International Pty Ltd, AVZ Minerals Pty Ltd, the Dathcom JV you name it and.......
Winenut
GO AVZ!!!!
Thanks Carlos
The other pieces of the puzzle is the underlying detail
We know AVZ is not "directly" involved with Dathcom (it's simplified in the pie charts showing just "AVZ")
The actual party involved with Dathcom is AVZI
AVZ International Pty Ltd (AVZI) is a subsidiary of AVZ Minerals and has it's own shareholding structure
So too does the related entity Green Lithium Holdings Pte Ltd (GLH)
It's all of these underlying parent and subsidiary relationships/ corporate structures and % shareholders/shareholdings that I'm really after
Also interested in certainty on where they are domiciled
We know AVZ is in Australia, AVZI I'm note sure, GLH I think Singapore or Hong Kong
Samus
Top 20
Let that sink in.
Essentially they're risking fucking nothing.
This should have happened long ago.
Fucking grubs.
Frank
Top 20
In the DRC, the battle for Manono lithium also pits Chinese groups against each otherEn RDC, la bataille pour le lithium de Manono oppose aussi des groupes chinois
Le chinois Zijin Mining devrait commencer l’exploitation du gisement de lithium de Manono en 2026. Or, la propriété de ce projet situé en RDC faitwww.agenceecofin.com
More reporting on the AVZ CATH deal.
The Chinese Zijin Mining is expected to begin mining the Manono lithium deposit in 2026.
However, ownership of this project located in the DRC is the subject of a dispute with the Australian AVZ, which can count, more than ever, on the support of another Chinese company.
In the battle opposing the Chinese Zijin Mining for control of the Manono project, the Australian AVZ now benefits from the active support of another Chinese group, Suzhou CATH Energy Technologies.
AVZ announced on Wednesday, January 8, that it had obtained a $20 million facility from CATH to finance certain company expenses.
This new agreement, consolidating a partnership between the two parties in force since 2021, comes the day after another development concerning Manono.
According to Bloomberg, which relayed statements from the company in an email exchange on November 7, Zijin plans to put the lithium deposit into production in 2026.
This is despite the disputes surrounding the mining permit granted by the DRC.
By remaining alongside AVZ, CATH intends to eventually secure 100% of Manono's lithium production.
The Chinese company will thus have the right to purchase all of Manono's production for five years, or until AVZ's expenses that it has facilitated are reimbursed.
Subject to obtaining the mining rights on Manono, CATH will also have the possibility of acquiring an indirect 30.5% stake in the project by paying $259.25 million to AVZ.
In its press release of January 8, AVZ did not indicate when it hopes to regain control of the Manono project, nor did it comment on recent developments regarding Zijin’s production start-up in 2026.
It should be recalled that the Australian company has initiated various legal proceedings in recent years to contest its eviction from the Manono project, but the outcome of these initiatives remains uncertain.
In any case, the interest of investors, both Chinese and Western, in the Manono project demonstrates the potential of this deposit, which could position the DRC as one of the main lithium producers in Africa.
According to a previous estimate by AVZ, the Manono deposit would host at least 400 million tonnes of mineral resources grading 1.65% lithium.
x.com
x.com
Xerof
Flaming 1967
To be honest I don't know why anyone thinks Cong has a valid case. He's fucking toast. (I do recall a person who shall remain nameless saying a couple of years ago that Pei will take care of Cong from the sidelines) I'm not going down that rabbit hole but I suspect things have moved on from such hubris and the courts will decide, or Xi
And all these negative slants just fire up the shitstain with his incomprehensible rubbish
Found something in the 2022 Accounts
So getting somehwere at least
View attachment 75819
EDIT: Thanks Carlos for your post above. I didn't see it before posting mine
Wino, I would assume most or all those other 'service' entities will end up under GLH (mentioned in the announcement)
Carlos Danger
Top 20
Found something in the 2022 Accounts
So getting somehwere at least
View attachment 75819
EDIT: Thanks Carlos for your post above. I didn't see it before posting mine
There are a few interesting few points in the ICC emergency orders for the Cominiere case
All of the decisions especially around costs refer to GLH as the primary claimant
So at some point the control of 75% holding in Dathcom has somehow been transferred from AVZI to GLH after incorporation in Singapore on 8 March 2022 imo
Note 13 on page 30 says ‘The emergency arbitrator notes in this regard that although the Respondent indicates in its Response that GLH is not a shareholder of the company and that the transfer of AVZ shares to the latter was not ratified by the company (see paragraph 24), the Defendant draws no conclusions from this’
There is a pertinent question of exactly how GLH has ownership and whether Cominiere should have had FROR over any ‘transfer’. I’m guessing they just sold / transferred AVZI to GLH to avoid this issue and firb for the restructured CATH TIA but I don’t know for sure.
WattleImpressionist? Surrealist? Water Colour? Realist? Expressionist? Landscape? Portrait? Dulux????
Just stirring
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