What does this suggest apologies?
AVZ Discussion 2022
- Thread starter GazDix
- Start date
What does this suggest apologies?
So the facts are with respect to the Escrow account
“Additionally, the Company has been made aware of allegations of unauthorised transactions involving the Company's escrow account in the DRC”
So no official announcement on any money missing
And the last announcement says
“AVZI will organize the payment to Dathomir of the balance of the price agreed…”
Are we assuming too much, maybe nothing is missing, if so why did we only borrow 20million from CATL, surely we would have factored more funding for our legal fees and obligations upon winning each case if the money was truely missing?
“Additionally, the Company has been made aware of allegations of unauthorised transactions involving the Company's escrow account in the DRC”
So no official announcement on any money missing
And the last announcement says
“AVZI will organize the payment to Dathomir of the balance of the price agreed…”
Are we assuming too much, maybe nothing is missing, if so why did we only borrow 20million from CATL, surely we would have factored more funding for our legal fees and obligations upon winning each case if the money was truely missing?
Remark
Top 20
Oh, really?
Have Ya Seen it?
cruiser51
Top 20
Highly likely has, but would you travel to the DRC, with a judiciary, where even the minister for justice is accused of fraud, to fight a defamation case? And we will not mention the rest of the Government, where it seems to be a national sport to rip the system off.
I rather stay in the office and build model lithium processing plants from lego blocks, to sort out the ergonomics of the plant, thank you very much.
Carlos Danger
Top 20
This is probs my best post explaining what happened. I’ve included the original in the replies. But as I said in February 2024:No one outside of the parties involved has seen the SPA's. The only clues we have are from this court record and AVZ's official announcements. Both of those sources agree that completion of the transactions occurs when payment hits da bank. Cong cites Article 2.1 of the SPA's for this fact. This event occurred on or about 13/8/21 according to AVZ and on 16/8/21 according to Dathomir which is backed up by the bank statement.
The only thing that could have stopped it was a domestic stay of payment but the writ for that was served to AVZ on 28/8/21 which is after completion occurred according to Cong's timeline of events
As for the need for a Dathcom EGM this was not a condition precedent of the SPA's according to AVZ. Cong says it 'should' have happened because it occurred in previous transfers but he doesn't cite anything from the agreements when claiming this.
Without going into the long boring details of OHADA the article that Cong cites about waiving the sale is about negotiations using an expert to value the shares in an absence of agreements. The judge was never asked to rule on the merits of his arguments about termination and repeatedly recognises the need for this matter to be heard by an arbitral judge. The ICC taking on these cases indicates to me that they are the ones named in the SPA's for dispute resolution just like in the Dathcom JVA and they have agreed with AVZ on everything so far.
Obviously I would need to read the SPA's to know for sure if Cong has grounds for termination or renegotiation but the fact that both parties have acknowledged that completion occurs on payment, Cong couldn't back up his EGM claim from the agreements themselves and the ICC are hearing the cases and resticting Dathomir's actions within the DRC is enough for me. And DLA Piper too obvs
View attachment 56851 View attachment 56852 View attachment 56853 View attachment 56854 View attachment 56855 View attachment 56856 View attachment 56857 View attachment 56858 View attachment 56859 View attachment 56860
No one outside of the parties involved has seen the SPA's. The only clues we have are from this court record and AVZ's official announcements. Both of those sources agree that completion of the transactions occurs when payment hits da bank. Cong cites Article 2.1 of the SPA's for this fact. This event occurred on or about 13/8/21 according to AVZ and on 16/8/21 according to Dathomir which is backed up by the bank statement.
The only thing that could have stopped it was a domestic stay of payment but the writ for that was served to AVZ on 28/8/21 which is after completion occurred according to Cong's timeline of events
As for the need for a Dathcom EGM this was not a condition precedent of the SPA's according to AVZ. Cong says it 'should' have happened because it occurred in previous transfers but he doesn't cite anything from the agreements when claiming this.
Without going into the long boring details of OHADA the article that Cong cites about waiving the sale is about negotiations using an expert to value the shares in an absence of agreements. The judge was never asked to rule on the merits of his arguments about termination and repeatedly recognises the need for this matter to be heard by an arbitral judge. The ICC taking on these cases indicates to me that they are the ones named in the SPA's for dispute resolution just like in the Dathcom JVA and they have agreed with AVZ on everything so far.
Obviously I would need to read the SPA's to know for sure if Cong has grounds for termination or renegotiation but the fact that both parties have acknowledged that completion occurs on payment, Cong couldn't back up his EGM claim from the agreements themselves and the ICC are hearing the cases and resticting Dathomir's actions within the DRC is enough for me. And DLA Piper too obvs
Turning Diplomatic Commitments into Mineral Investments in the Democratic Republic of Congo
With a peace agreement signed between the DRC and Rwanda, the United States is now seeking to sign a minerals deal. To be effective, it must go beyond handshake diplomacy to catalyze private investments in this high-risk yet strategically critical jurisdiction.
Chase
Regular
Fight that battle another day..Christian will get a arse reaming hopefully
dollarbills
Regular
Good to hear from Deboss
Xerof
Flaming 1967
Carlos, I particularly like the names you saved these 2 screenshots under:
page one: fuck.png
page two: cong.png
very nice
And another nice day for Spodumene prices.....5.21 % up....this didn't happen on any past day in the last 3 years...
It,s defiantly hottening up in the wider Lithium space....perfect timing
Shhh. Don't tell the evangelical trump supporters. They'll destroy it for us all.......
Attachments
Samus
Top 20
Rechnerhand
Regular
BRICK
Where’s Zeebot 😶🌫️
The off-road one.Decisions decisions
View attachment 87990 View attachment 87991
View attachment 87995
View attachment 87996
Especially in those vic backroads
Sorry Carlos it looks a bit fuzzy this time of night but I can clearly see the total
I just want to pay off my cc debt , but nice carsDecisions decisions
View attachment 87990 View attachment 87991
View attachment 87995
View attachment 87996
This appeared over on HC. Does anyone have access? archive.is doesn't load it
www.businessnews.com.au
AVZ, Locke in $23m funding row
AVZ Minerals is involved in another legal dispute relating to its Manono project, after a funder sued the West Perth company over a $US15 million agreement.
Similar threads
