AVZ Discussion 2022
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Skar
Regular
It’s also on LinkedIn with the full transcript available.
KoBold Metals CEO Kurt House spoke with BBC World Service about the… | KoBold Metals
KoBold Metals CEO Kurt House spoke with BBC World Service about the company’s planned investments in the DRC. 🎧 Listen now:www.linkedin.com
Transcript
Cobalt Metals are US based tech driven mineral exploration company backed by prominent investors such as Bill Gates and Jeff Bezos, is moving to acquire a VZ Minerals interest in the Manono Lithium project in the Democratic Republic of Congo. The site is considered one of the world's largest underdeveloped Hard Rock lithium deposits, a critical asset as the world races to secure raw materials for the energy transition. The announcement comes as the DRC is seeking to diversify its mining partnerships and has reportedly proposed a minerals for security deal with the US, aiming to shift its alliances away from a China dominated sector. Joining us now to discuss these furthermore is Kurt House, co-founder and CEO of Cobalt Metals, joining us from San Francisco. Good evening to you and welcome to the program. What made the Manono Lithium project attractive to cobalt? Metals. It's fabulous to be here and we are very excited to become one of the the largest American investor in the Democratic Republic of Congo, hopefully soon. We're very excited about the Manono deposit because it's very high grade lithium, meaning there's a large, very high concentration of lithium in the rock relative to typical, typical deposits. And more importantly, we think, we think the whole region is perspective for, for, for new discoveries that are, that are not yet known. When we talk about lithium for the layman and woman on the streets, tell us what do you get from that rock? What can you produce that the world needs? Ah, great question. So I'm currently talking on my my iPhone and a lot of people on are probably listening to this on their own device, laptop or or smartphone that will be powered by a lithium ion battery. So lithium is lithium is. Basically half of the battery, the other half is made U of nickel and cobalt. Also if you happen to be driving an electric car then it is certainly the case that the battery is made-up about half. Half of the half of the reactants and the battery are made of lithium. Lithium is is very special element because it's very light. The only elements lighter than lithium or hydrogen and helium. But lithium is a metal so it's the lightest. Metal in the universe and it also it packs a huge amount of energy relative to its relative to its. Math And that's how that's why we use it in batteries. We get so much energy. We can store so much energy in lithium ion batteries per unit mass because lithium is so light and contains so much energy. How's the work already started with the extraction? No, no, it will. Uh, we're still finalizing the details of the agreement with, with the commercial counterparty and with the government. But we are moving with all deliberate speed to develop this deposit fast. We'll be on the ground fast once the, once the, the ink dries on the contracts. And we're already, we're already building our team. So recently we announced the hiring of our, of our director. General for Cobalt Metals DRC, a fellow named Benjamin Kabuka, who is effectively the CEO, the CEO of the country for cobalt and he's, he's Congolese and he will build a large Congolese workforce that will mostly do this work. That's how we we operate every in the world, everywhere in the world by focusing very heavily on on investing in the local talent. You've talked about the benefits that the rest of the world can see or can have. Once you have this extracted, what benefits could the people of the DRC in the region get from you extracting you coming in into their area? Yeah, we're really excited about the DRC because we think we think the central Africa in general, in the DRC in particular is in the early days of a new renaissance. I mean in, in, in 50 years time, it's expected that one out of three humans on Earth will live in sub-Saharan Africa. This will be will be kind of the central the, the, the center of humanity and. The benefits, the direct benefits of an American investment, a major American investment in Congo we think are manifold. Most most saliently will be the the the very high paying jobs directly, directly. Directly related to the mind development and all the skills. Bills that will. A transfer to the local to the local staff. Cobalt has technology, cutting edge technology to understand, understand the subsurface and the rocks in the most statistically rigorous ways that anyone's ever, ever conceived and will be training a large Congolese workforce in cutting edge data science and artificial intelligence so they can deploy this technology and invent. As well as in, uh, improve it and invent new versions of it. Alright, Courthouse, thank you so much for your time. Co-founder and CEO of Cobalt Metals.
We're very excited about the Manono deposit because it's very high grade lithium, meaning there's a large, very high concentration of lithium in the rock relative to typical, typical deposits. And more importantly, we think, we think the whole region is perspective for, for, for new discoveries that are, that are not yet known.
-well we know there is at least 250B proven (at current sc6 trade prices, 5-6x that price at the high end) and now they acknowledge what we all know much much more out there untapped, THANK YOU Kobold!!!
How's the work already started with the extraction? No, no, it will. Uh, we're still finalizing the details of the agreement with, with the commercial counterparty and with the government. But we are moving with all deliberate speed to develop this deposit fast. We'll be on the ground fast once the, once the, the ink dries on the contracts.
-which is EXACLY where we were when this whole mess started. Make no mistake, we DO NOT NEED THE AMERICANS to get this project running from a technical/operational perspective. We have two pathways forward, only one is the sale to the Americans and letting them deal with the political side of things. The other is we use the courts to defend our rights. Obviously the American way is preferable, its faster and has security but they cant short change us when we are in agreement on the value of what we have.
This is good news, I am glad Kobold are this excited.
For those AI enthusiasts (of which we know Kobold is)... start plugging in the resource size 669 Million Tonnes, current pricing and forecasted demand and ask it to model a few scenarios of NPV and fair value sale price etc
Mute22
Regular
They are clearly jumping the gun
I haven't heard him speak elsewhere so unsure if this is how he usually sounds, but the tone is palpable excitement.We're very excited about the Manono deposit because it's very high grade lithium, meaning there's a large, very high concentration of lithium in the rock relative to typical, typical deposits. And more importantly, we think, we think the whole region is perspective for, for, for new discoveries that are, that are not yet known.
-well we know there is at least 250B proven (at current sc6 trade prices, 5-6x that price at the high end) and now they acknowledge what we all know much much more out there untapped, THANK YOU Kobold!!!
How's the work already started with the extraction? No, no, it will. Uh, we're still finalizing the details of the agreement with, with the commercial counterparty and with the government. But we are moving with all deliberate speed to develop this deposit fast. We'll be on the ground fast once the, once the, the ink dries on the contracts.
-which is EXACLY where we were when this whole mess started. Make no mistake, we DO NOT NEED THE AMERICANS to get this project running from a technical/operational perspective. We have two pathways forward, only one is the sale to the Americans and letting them deal with the political side of things. The other is we use the courts to defend our rights. Obviously the American way is preferable, its faster and has security but they cant short change us when we are in agreement on the value of what we have.
This is good news, I am glad Kobold are this excited.
For those AI enthusiasts (of which we know Kobold is)... start plugging in the resource size 669 Million Tonnes, current pricing and forecasted demand and ask it to model a few scenarios of NPV and fair value sale price etc
I just hope they can put their wallet where their mouth is, because they have now shown their hand any other interested parties will have to make their moves now or forever hold their peace
Seriously, I am in awe of the shareholder hivemind here. You would have to be of a high intelligence of stupid (a compliment ..... ) to try to do the wrong thing by shareholders of this company. Anytime anything is posted on the web or announced anywhere, it is vetted, parsed for truthfulness, and tested for reliability within minutes.
) to try to do the wrong thing by shareholders of this company. Anytime anything is posted on the web or announced anywhere, it is vetted, parsed for truthfulness, and tested for reliability within minutes.Thanks @Mute22 for posting the interview with KoBold's CEO, Kurt House. Although he seemed a bit under-prepared, he still managed to enlighten us on the company's acquisition of Manono and its longer term view of sub Saharan Africa and the DRC generally.
Interestingly, despite AVZ's announcement (6 May 2025) saying that it had signed a non-binding framework with KoBold, Kurt House says that KoBold has already employed a Dir Gen for KoBold's DRC operations who is responsible for building its on-ground team. This approach is inconsistent for a company that has merely signed a non-binding framework.
There's a bit of air between these two publicly stated positions.
Cheers
F
Interestingly, despite AVZ's announcement (6 May 2025) saying that it had signed a non-binding framework with KoBold, Kurt House says that KoBold has already employed a Dir Gen for KoBold's DRC operations who is responsible for building its on-ground team. This approach is inconsistent for a company that has merely signed a non-binding framework.
There's a bit of air between these two publicly stated positions.
Cheers
F
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No doubt he’s extremely excited. I listened to some of his other interviews — he sounded fairly composed. But this interview, it seems like he’s so excited he can barely find his words. Hopefully, he can start getting Nigel excited too. $3.50 AUD!
LOCKY82
Regular
Well you'd be forgiven for thinking a deal is more or less done! If it's not they have well and truly shown their cards and are fizzing about manono! It'd be fairly embarrassing to come away empty handed after these excited press releases, hoping we can get some real fair value. Whatever spin anyone tries to put on it regards price, this thing is a fucking monster with a very long life. 
$$$
$$$
Mute22
Regular
100% speculative here and reading between the lines based on very little, but I can’t help but wonder if Kobold’s recent media push isn’t so much about promoting their business as it is about sending a message both to AVZ and to other suitors.
The tone of this press activity feels more like strategic posturing than celebration. It’s almost as if Kobold is signaling: “We’re already in the mix - and we’ve put serious money on the table.” This could be aimed squarely at other parties still circling the prize, letting them know the bar has been set and they have the State Department of the US backing them, how can you compete?
From AVZ’s side, the optics of signing a non-binding MoU with Kobold speaks of flexibility maybe even calculated opportunism. They’re making it clear they have no exclusive loyalties. This deal looks less like a final decision and more like a tactic to flush out better offers. In fact, I wouldn’t be surprised if Nigel is now quietly tapping old contacts, letting them know this could be their last shot to submit a competitive bid.
Where it gets especially interesting, and complicated is the geopolitical players. The DRC wants Western interests investing, and there’s the arms for minerals deal exclusively for Americans. If that’s the case, Nigel may not even have the option to seriously consider Chinese offers for the South anymore. That could reshape the whole playing field, significantly limiting bidders.
Anyway, bidding starts at $12.
The tone of this press activity feels more like strategic posturing than celebration. It’s almost as if Kobold is signaling: “We’re already in the mix - and we’ve put serious money on the table.” This could be aimed squarely at other parties still circling the prize, letting them know the bar has been set and they have the State Department of the US backing them, how can you compete?
From AVZ’s side, the optics of signing a non-binding MoU with Kobold speaks of flexibility maybe even calculated opportunism. They’re making it clear they have no exclusive loyalties. This deal looks less like a final decision and more like a tactic to flush out better offers. In fact, I wouldn’t be surprised if Nigel is now quietly tapping old contacts, letting them know this could be their last shot to submit a competitive bid.
Where it gets especially interesting, and complicated is the geopolitical players. The DRC wants Western interests investing, and there’s the arms for minerals deal exclusively for Americans. If that’s the case, Nigel may not even have the option to seriously consider Chinese offers for the South anymore. That could reshape the whole playing field, significantly limiting bidders.
Anyway, bidding starts at $12.
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Hodlandwin69
Regular
Roche Dure isn't their only target
Dave Evans
Regular
“Seemed a bit under prepared”
He sounded like he didn’t know what he was talking about. Trying to explain how smart phones and laptops have lithium batteries in them.
Actually, the moment he mentioned smart phones, laptops and EV’s, a sharp interviewer might have asked “So how much could Manono be worth to Bill Gates and Elon Musk?”
They’ve been telling the world for the last four months how they are going to develop Manono, now they release a statement saying they’ve purchased AVZ’s deposit, two minutes later change that to hoping to acquire the deposit and in the interview he couldn’t even mention AVZ by name
Since the start of the year they’ve talked themselves up in all the major media outlets and they still come across as though they’ve got no idea. The two things I find most frustrating is they don’t want to put a real dollar value on what the project could be worth and they want AVZ to suspend the ICSID arbitration
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Hodlandwin69
Regular
I wonder if the shareholders will actually have a vote in this, kobold seem to be really confident they'll acquire it very shortly.
It may be due to according to the host country (DRC) we don't own it and we are fighting it in court. So the settlement from Kobold would be to drop our court cases and walk away (probably no vote needed). Then DRC just transfer rights from manono lithium to Kobold.
No vote needed as AVZ isn't transferring their asset rights, they're just dropping their court case for said rights???
It may be due to according to the host country (DRC) we don't own it and we are fighting it in court. So the settlement from Kobold would be to drop our court cases and walk away (probably no vote needed). Then DRC just transfer rights from manono lithium to Kobold.
No vote needed as AVZ isn't transferring their asset rights, they're just dropping their court case for said rights???
OmarsCominYo
Member
Kobold frothing over something WE, as a company and shareholders, took all the financial risk to uncover and prove up, only to have years of our own high levels of excitement and dreams at the time (and great relief at being fortunate enough to have been able to take those risks in backing the delineation of such a globally important resource) brutally crushed by corruption and staggering amounts of subterfuge. Like many, I've been holding for almost 9 years now, with my first tentative buy in December 2016, and the effects on my own health and financial situation from being dragged through this unwarranted and, frankly, incomprehensibly outrageous process, have been dire (and RIP John). Call me naive but this last decade has really put a dent in my faith in human nature that this is one aspect of how our global society works, with so many of the bigoted and corrupt getting away with their callous greed and self absorbed behaviour, at the expense of the most vulnerable on the ground in their own countries.
It should be of absolutely no surprise to AVZ shareholders that Kobold will be doing backflips at the idea of getting to be involved in developing the Manono project area, with, as we know, Roche Dure being the apparent jewel in the crown....because that is how we all felt after taking large amounts of early risk to invest in such exploration and having it turn out to be one of those few explorers that comes up Trumps (pun intended) with a globally vital resource. With the current geo political climate I don't believe that the importance of the scope of the Manono/Kitolo pegmatite system can be over-stated, politically or industrially, nor economically and socially for the communities in the Tanganyika Province.
By every reasonable international business and ethical yardstick, given the legitimate processes our company has followed in good faith throughout the last decade, and the enormity of risk we took in the early days, WE should be in the driver's seat developing the Manono Project...the entirety of the original PR13359, as well as the potential extension projects surrounding it (PR 4029 and PR 4030).
If Kobold/US Government want to now slide in and take the vast majority of the profits that will be generated by development of the Manono/Kitolo project area, based entirely on OUR years of discovery risk, hard work and following of all appropriate international business and mining codes, then we need to be very significantly compensated.
What figure do you put on 9 years of this difficult a journey and the turmoil and weight we have all had to endure from such nefarious actions outside of our control. Personally it's hard to quantify, but will rancour without a distinctly rewarding financial compensation for ALL holders of AVZ, for being effectively forced to relinquish a lifetime of dreams and hopes that came from being a part of the Manono development story for nearly a decade and is now finally on the cusp of becoming a tangible financial reality for whichever group takes the project forwards ....a story OUR company, AVZ, uncovered, proved up and took to the world stage, a story OUR company SHOULD be entitled to see through to the profit-sharing production stage if there was any justice for what we've been dragged through.
That loss of a lifetime of potentially generational opportunity and financial betterment is a bitter, bitter pill to swallow and one that will only, personally, be made vaguely palatable by very significant payment in compensation.
It should be of absolutely no surprise to AVZ shareholders that Kobold will be doing backflips at the idea of getting to be involved in developing the Manono project area, with, as we know, Roche Dure being the apparent jewel in the crown....because that is how we all felt after taking large amounts of early risk to invest in such exploration and having it turn out to be one of those few explorers that comes up Trumps (pun intended) with a globally vital resource. With the current geo political climate I don't believe that the importance of the scope of the Manono/Kitolo pegmatite system can be over-stated, politically or industrially, nor economically and socially for the communities in the Tanganyika Province.
By every reasonable international business and ethical yardstick, given the legitimate processes our company has followed in good faith throughout the last decade, and the enormity of risk we took in the early days, WE should be in the driver's seat developing the Manono Project...the entirety of the original PR13359, as well as the potential extension projects surrounding it (PR 4029 and PR 4030).
If Kobold/US Government want to now slide in and take the vast majority of the profits that will be generated by development of the Manono/Kitolo project area, based entirely on OUR years of discovery risk, hard work and following of all appropriate international business and mining codes, then we need to be very significantly compensated.
What figure do you put on 9 years of this difficult a journey and the turmoil and weight we have all had to endure from such nefarious actions outside of our control. Personally it's hard to quantify, but will rancour without a distinctly rewarding financial compensation for ALL holders of AVZ, for being effectively forced to relinquish a lifetime of dreams and hopes that came from being a part of the Manono development story for nearly a decade and is now finally on the cusp of becoming a tangible financial reality for whichever group takes the project forwards ....a story OUR company, AVZ, uncovered, proved up and took to the world stage, a story OUR company SHOULD be entitled to see through to the profit-sharing production stage if there was any justice for what we've been dragged through.
That loss of a lifetime of potentially generational opportunity and financial betterment is a bitter, bitter pill to swallow and one that will only, personally, be made vaguely palatable by very significant payment in compensation.
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Yeah i must say for the CEO of Kobold the guy was less than impressive. Stumbling and umming and ahing like a total amateur.
As far as confirming the purchase from AVZ he didnt say anything like that !
His words "Were still finalizing the agreement with the commercial counterparty and the government"
So we go back to the AVZ announcement and the joint press release ie we are in play but no deal done yet
They haven't bought it yet, but planning to buy it...
They might still have to go cap in hand to get the mula
I don't know who keeps them in check, could be Nigel with his tackling technique.
This is the latest fresh update from 3 hours ago.
https://x.com/KoBold_Metals
KoBold Metals
@KoBold_Metals
·
3h
KoBold Metals CEO Kurt House spoke with BBC World Service about the company’s planned investments in the DRC.
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