AVZ Discussion 2022

[BobTheCat]

Extract from the second last paragraph of the WSJ article:

...Chinese companies are outbidding Western rivals, thanks to generous state support and their skill in navigating developing countries, where corruption is often rampant.

I wouldn't describe corrupt Chinese activities as out-bidding, but more like out-maneuvering.

Outbidding with bribes is still outbidding

 

[Winenut]

Outbidding with bribes is still outbidding

No it's obscene, criminal, fucked up, destroys real progress, throws the local population under a fucking bus, lines the pockets of corrupt officials, destroys the fabric of decent communities, advances the few at the expense of the majority, prevents the advancement of decent people, plays into the handbook of nepotists and kleptocrats and is the work of fucked up individuals and regimes with no moral compass and a penchant for crawling over their dead grandmothers body for 5 cents or a shiny trinket

 

[BobTheCat]

No it's obscene, criminal, fucked up, destroys real progress, throws the local population under a fucking bus, lines the pockets of corrupt officials, destroys the fabric of decent communities, advances the few at the expense of the majority, prevents the advancement of decent people, plays into the handbook of nepotists and kleptocrats and is the work of fucked up individuals and regimes with no moral compass and a penchant for crawling over their dead grandmothers body for 5 cents or a shiny trinket

Yes, I agree. I also don’t like it, nor would I conduct myself in that manner. But it is what the Chinese are doing in the DRC and other places. I just try to take it with humor. However, I wouldn’t say the Chinese outmaneuvered us, which might imply they played smarter or something, they were simply willing to play dirty.
It would be nice for this to change, but I just don’t see it happening in the near term.

Let’s hope we get some good news at the AGM that actually materializes into something and leads to us getting out with some fair compensation for this entire saga.

 

[Sangster]

To be fair, where the article states that Chinese companies are outbidding Western rivals it is in reference to the Chinese offering more to the company that developed the project when that company is forced to sell the asset.

They are literally outbidding in an auction scenario due to:

• Chinese State sponsored support.
• Western countries failing to factor in national security and provide similar support.
• Western rivals being unable or unwilling to increase their bid to win the asset.
• There being few legal avenues to prevent the explorer from selling to the highest bidder.

Where it mentions the Chinese skill in navigating corrupt countries, that's where it's referring to their bribery of officials and theft of projects through unforgivable shitfuckery that deserves to be punished. But punishment never comes because the Chinese eventually outbid Western parties and all legal action gets pushed under the rug.

In our case, how many of us will pursue justice to the end rather than saying "Fuck you KoBold, stick your insulting $1B offer up your arse" and "thank you Zijin let's do it again sometime for another $12B."

 

[cruiser51]

To be fair, where the article states that Chinese companies are outbidding Western rivals it is in reference to the Chinese offering more to the company that developed the project when that company is forced to sell the asset.

They are literally outbidding in an auction scenario due to:

• Chinese State sponsored support.
• Western countries failing to factor in national security and provide similar support.
• Western rivals being unable or unwilling to increase their bid to win the asset.
• There being few legal avenues to prevent the explorer from selling to the highest bidder.

Where it mentions the Chinese skill in navigating corrupt countries, that's where it's referring to their bribery of officials and theft of projects through unforgivable shitfuckery that deserves to be punished. But punishment never comes because the Chinese eventually outbid Western parties and all legal action gets pushed under the rug.

In our case, how many of us will pursue justice to the end rather than saying "Fuck you KoBold, stick your insulting $1B offer up your arse" and "thank you Zijin let's do it again sometime for another $12B."

If Zijin Offers US $12 Billion, I am pretty happy to offer Team Trump the finger and give them some advice on the way out.

 

[Mcconnellmary]

Who is going to the AGM tomorrow or are you all going to hide behind your alias

 

[Xerof]

Who wants to know?

 

[Flight996]

Barrick settles with Mali

Canadian mining company Barrick Gold is to withdraw an ICSID claim against Mali after the state agreed to support the return of a gold mine, drop criminal charges against its CEO and release several detained employees.

globalarbitrationreview.com

Canadian mining company Barrick Gold is to withdraw an ICSID claim against Mali after the state agreed to support the return of a gold mine, drop criminal charges against its CEO and release several detained employees.

Felix, are you paying attention?

 

[Skar]

Barrick settles with Mali

Canadian mining company Barrick Gold is to withdraw an ICSID claim against Mali after the state agreed to support the return of a gold mine, drop criminal charges against its CEO and release several detained employees.

globalarbitrationreview.com

Canadian mining company Barrick Gold is to withdraw an ICSID claim against Mali after the state agreed to support the return of a gold mine, drop criminal charges against its CEO and release several detained employees.

Felix, are you paying attention?

Would of been nice if FFX/LLL had better management... goes to show what a good BOD can do I suppose.

 

[cruiser51]

Who is going to the AGM tomorrow or are you all going to hide behind your alias

I am going to do the same as you

 

[Carlos Danger]

Barrick settles with Mali

Canadian mining company Barrick Gold is to withdraw an ICSID claim against Mali after the state agreed to support the return of a gold mine, drop criminal charges against its CEO and release several detained employees.

globalarbitrationreview.com

Canadian mining company Barrick Gold is to withdraw an ICSID claim against Mali after the state agreed to support the return of a gold mine, drop criminal charges against its CEO and release several detained employees.

Felix, are you paying attention?

Barrick folded and agreed to pay the Malian Junta $430m USD

 

[Mcconnellmary]

I am going to do the same as you

I use my really name. Don’t see too many others on here that are happy to be identified.

 

[Hodlandwin69]

Barrick settles with Mali

Canadian mining company Barrick Gold is to withdraw an ICSID claim against Mali after the state agreed to support the return of a gold mine, drop criminal charges against its CEO and release several detained employees.

globalarbitrationreview.com

Canadian mining company Barrick Gold is to withdraw an ICSID claim against Mali after the state agreed to support the return of a gold mine, drop criminal charges against its CEO and release several detained employees.

Felix, are you paying attention?

Careful, he might start asking AVZ for $430 million

 

[Flight996]

Barrick folded and agreed to pay the Malian Junta $430m USD

Probably represents money well spent, given that in 2024, the mine produced in excess of 700,000 ounces of gold and has an estimated 7.3 million ounces in reserve.

 

[Remark]

I also use my really name.

 

[JNRB]

Careful, he might start asking AVZ for $430 million

If we knew it was actually going to go to the people there and not just disappear into the pockets of slimy corrupt fukers I think I would be on board with that. I've always been in this because I thought it was a win-win that would genuinely bring positive economic outcomes to the region. Part of what makes all this shitfukery so doubly frustrating.

 

[Roon]

Good luck all at the AGM tomorrow. (And pre drinks). Shame won't be seeing some of you again this year. I'm outside the country at the moment, so looking forward to some feedback from those who attend. Hopefully it's good news.

 

[Spikerama]

I'm overseas too currently but do let us all know how it goes please.

 

[Carlos Danger]

Probably represents money well spent, given that in 2024, the mine produced in excess of 700,000 ounces of gold and has an estimated 7.3 million ounces in reserve.

Probably does. Especially with gold price mooning in last few years.

But the whole point of their ICSID claim is that the Junta illegally changed the rules so they shouldn’t have to pay the $430m USD.

Equivalent for us would have been letting Zijin have the 15% from Cominiere and paying Cong the extra $130m USD he was angling for when lithium price mooned in 2021.

 

[Colaci78]

I use my really name. Don’t see too many others on here that are happy to be identified.

Ive never seen you comment on this thread before. Why now? Especially with derogatory remarks.