AVZ Discussion 2022

[Investortug]

This above comment says it all frankly.
View attachment 93351

She was at the AVZ Perth Roadshow in 2022..

 

[investinvest]

AGM wrapped up within 10 minutes. No presentation. Just passing the 2 resolutions.

 

[BobTheCat]

AGM wrapped up within 10 minutes. No presentation. Just passing the 2 resolutions.

Well that is a bit anticlimactic

No news at all?

 

[Mcconnellmary]

This above comment says it all frankly.
View attachment 93351

Got to love predictive text. But excuse me for being human. Unlike yourself that are no doubt perfect, behind your keyboard

 

[Mcconnellmary]

Well that is a bit anticlimactic

No news at all?

Think they are all away to the tavern.
My take, for what it is worth is that there are parties interested, three from translation of Nigel’s answers to shareholders, but will they pay “ fair” value, I fear not. I get the impression that we will be lucky to get some small amount back, not the life changing amount that should have been ours. USA driving it. Kobald a pack of pricks, wanted it for nothing.
Cannot decide how I feel. Bought at a low price to probably ok for me to get investment back , maybe , but others

 

[JNRB]

Think they are all away to the tavern.
My take, for what it is worth is that there are parties interested, three from translation of Nigel’s answers to shareholders, but will they pay “ fair” value, I fear not. I get the impression that we will be lucky to get some small amount back, not the life changing amount that should have been ours. USA driving it. Kobald a pack of pricks, wanted it for nothing.
Cannot decide how I feel. Bought at a low price to probably ok for me to get investment back , maybe , but others

I'm sure we'll get plenty of good write-ups in due time. I'm glad everyone has the chance to get together for a few beers over this. Probably ends up being good anyway as everyone can talk through what seem to be some of the more ambiguous statements.

 

[grassseeds]

I'm sure we'll get plenty of good write-ups in due time. I'm glad everyone has the chance to get together for a few beers over this. Probably ends up being good anyway as everyone can talk through what seem to be some of the more ambiguous statements.

My summary for non attendees.

AVZ AGM Perth 3.30 pm Thursday 27th November 2025​

Please note this information is based on my understanding of the questions and AVZ’s responses. In some cases, my shorthand notes may not be perfect, but I think I have covered the mood and current position adequately for those shareholders unable to attend.

The meeting was conducted with Rhett Brans as the Chair due to John Clarke not being available. Directors Nigel Ferguson and Graeme Johnston were present together with the Company Secretary Ben Cohen. A large group of people were present and my guess was that at least 80 to 100 people were in attendance

The 2 resolutions were submitted and voting of people attending was needed before the poll was concluded. The numbers were strongly in favour of acceptance of the 2 resolutions.

On finalising the resolutions, the meeting was open to questions with the MD Nigel providing most of the answers. The first 9 questions were from non attendees.

Q1. Advice was provided that the Annual Report was still being finalised and this information would be available shortly.

Q2. A query was raised about the assessment of the ASIC enquiry. Nigel indicated that they felt that AVZ’s position was strong as their legality to the 15% purchase was being concluded in their favour.

Q3. The IPSA Arbitration was suspended for 3 months due to the interest shown by possible takeover options, together with assessing the possible need for capital if long delays occur. These options are via a number of sources.

Q4. This question was along similar lines to Question 3.

Q5. This question was about the Board’s Confidence in achieving an acceptable sale. The response was that the Board was confident that they would get an acceptable offer to present to shareholders. AVZ currently have a Corporate Adviser in the USA.

Q6. Will AVZ get an acceptable offer with a reasonable price for shareholders? AVZ indicated that any proposal would have to satisfy Legal/Commercial and Diplomatic requirements.

Q7. Does any deal have to be approved by shareholders. Yes and the Board has already rejected a very low offer which they felt was so low that it was not in the best interest of shareholders.

Q8. Why do we need more finance? AVZ indicated that as their were a lot of Diplomatic hurdles still to be finalised they felt it prudent to ensure that they were not constrained by any delays.

Q9. Do Kobold have any legal rights to Manono? No and AVZ is noy constrained in dealing with any third partners.

Q10. This is the second time that AVZ have deferred the legal actions. What confidence do the Board have that this time some progress will be made on a resolution?

Nigel stated that the interested US groups have the backing of the US State Department to do a deal. Unfortunately, some time has been needed to get everyone up to speed. The DRC and Rwanda peace document may be delayed as Kagami is ill and currently unable to travel. The State Department have about 10 projects that they are interested in with Manona on top of the list.

Q11. What is the current attitude of DRC and Chinese to the current situation? The US appear to accept that Zijin will keep the North. The US believe that Tshisekedi needs the US support and that the US will be able to get approval for their required mineral deposits.

Q12. What is the attitude of the US to having Chinese involvement. The US are not in favour of any Chinese involvement.

Q13. AVZ and Cath relationship. A recent meeting has been held between the parties and any solution to asset sales will be up for negotiation. Relationships with Cath are on good terms.

Q14. Is a sale to Cath possible? Current arrangement for a sale is with a US company.

Q15. Any comments of the first offer AVZ received? Up front arrangement low and full payment over 6 months. The low offer also nominated further dividend type payments over many years.

Q16. With US State Department support at least 1 entity showing interest at the moment.

Q17. The mineral deal expected to be signed 4th December is that a pre requisite for any Manono deal. No, any Manono deal can go ahead without this requirement.

Q18. Have the Australian Government helped AVZ in any meaningful way? No.

Q18. Would AVZ consider any deal that had a mixture of payments such as Cash/Royalty/Other Company Shares? AVZ will look for the best deal for Shareholders.

Q19. What progress have Zijin made on building a mine on CDL? Zijin are nearly ready to deliver product. The plant plus associated infrastructure ( including the Hydro Plant ) has nearly been completed. Delivery via Kalemi and on to Dar Es Salaam is the expected route.

Q20. What is the current situation with the DRC Govt? Currently the DRC Govt. feel that the current situation is a problem and it would be good to have it cleaned up. The possible $9.5 billion penalty for losing all the court cases is not something that they would be happy with.

Q21. Why the delay in providing Annual Report? Unavoidable but will be ready soon.

Q 22. What is the current progress on the 5% shareholding AVZ purchased but has been in dispute? AVZ’s deal is under Australian Law and AVZ expect that this will progress in March 2026.

Q 23. A query on Cath’s Option for 30.5% shareholding was raised. AVZ will have to take into consideration any arrangements that they have with Cath in any takeover.

Q24. Will any deals be completed prior to 26th Feb 2026? Discussions have commenced but they are only just starting. Any Scheme of Arrangement or Sale would take at least 90 to 120 days from when any proposal was received.

Q25. How many Company’s are currently showing some interest. At least 3 not including Kobold.

Q 26. What is the current relationship with Cath? Mr.Pei very private but supportive.

Q 27. Has the recent increase in Lithium prices been helpful? Yes.

Q 28. Does AVZ have enough Capital for any eventuality. Yes Cath supportive and other parties also interested.

Q 29. Was the low ball offer put in writing? Yes.

Q 30. What price did they offer? Next question.

Q 31. AVZ originally had first access to the Hydro Plant and now Zijin has rebuilt it for their own operations. Will AVZ be able to get access to this cheap Electricity source? Yes, this Electricity source must be part of any package.

Q 32. Do AVZ expect the DRC to provide a license for Manono? Yes, the license will be issued to a US Govt or US Company.

Q 33. Will a Commercial decision be made with the US Govt? Yes, the DRC need the US to assist in security and Infrastructure.

Note my interpretation, not financial advice.

 

[ozmacca]

My summary for non attendees.

AVZ AGM Perth 3.30 pm Thursday 27th November 2025​

Please note this information is based on my understanding of the questions and AVZ’s responses. In some cases, my shorthand notes may not be perfect, but I think I have covered the mood and current position adequately for those shareholders unable to attend.

The meeting was conducted with Rhett Brans as the Chair due to John Clarke not being available. Directors Nigel Ferguson and Graeme Johnston were present together with the Company Secretary Ben Cohen. A large group of people were present and my guess was that at least 80 to 100 people were in attendance

The 2 resolutions were submitted and voting of people attending was needed before the poll was concluded. The numbers were strongly in favour of acceptance of the 2 resolutions.

On finalising the resolutions, the meeting was open to questions with the MD Nigel providing most of the answers. The first 9 questions were from non attendees.

Q1. Advice was provided that the Annual Report was still being finalised and this information would be available shortly.

Q2. A query was raised about the assessment of the ASIC enquiry. Nigel indicated that they felt that AVZ’s position was strong as their legality to the 15% purchase was being concluded in their favour.

Q3. The IPSA Arbitration was suspended for 3 months due to the interest shown by possible takeover options, together with assessing the possible need for capital if long delays occur. These options are via a number of sources.

Q4. This question was along similar lines to Question 3.

Q5. This question was about the Board’s Confidence in achieving an acceptable sale. The response was that the Board was confident that they would get an acceptable offer to present to shareholders. AVZ currently have a Corporate Adviser in the USA.

Q6. Will AVZ get an acceptable offer with a reasonable price for shareholders? AVZ indicated that any proposal would have to satisfy Legal/Commercial and Diplomatic requirements.

Q7. Does any deal have to be approved by shareholders. Yes and the Board has already rejected a very low offer which they felt was so low that it was not in the best interest of shareholders.

Q8. Why do we need more finance? AVZ indicated that as their were a lot of Diplomatic hurdles still to be finalised they felt it prudent to ensure that they were not constrained by any delays.

Q9. Do Kobold have any legal rights to Manono? No and AVZ is noy constrained in dealing with any third partners.

Q10. This is the second time that AVZ have deferred the legal actions. What confidence do the Board have that this time some progress will be made on a resolution?

Nigel stated that the interested US groups have the backing of the US State Department to do a deal. Unfortunately, some time has been needed to get everyone up to speed. The DRC and Rwanda peace document may be delayed as Kagami is ill and currently unable to travel. The State Department have about 10 projects that they are interested in with Manona on top of the list.

Q11. What is the current attitude of DRC and Chinese to the current situation? The US appear to accept that Zijin will keep the North. The US believe that Tshisekedi needs the US support and that the US will be able to get approval for their required mineral deposits.

Q12. What is the attitude of the US to having Chinese involvement. The US are not in favour of any Chinese involvement.

Q13. AVZ and Cath relationship. A recent meeting has been held between the parties and any solution to asset sales will be up for negotiation. Relationships with Cath are on good terms.

Q14. Is a sale to Cath possible? Current arrangement for a sale is with a US company.

Q15. Any comments of the first offer AVZ received? Up front arrangement low and full payment over 6 months. The low offer also nominated further dividend type payments over many years.

Q16. With US State Department support at least 1 entity showing interest at the moment.

Q17. The mineral deal expected to be signed 4th December is that a pre requisite for any Manono deal. No, any Manono deal can go ahead without this requirement.

Q18. Have the Australian Government helped AVZ in any meaningful way? No.

Q18. Would AVZ consider any deal that had a mixture of payments such as Cash/Royalty/Other Company Shares? AVZ will look for the best deal for Shareholders.

Q19. What progress have Zijin made on building a mine on CDL? Zijin are nearly ready to deliver product. The plant plus associated infrastructure ( including the Hydro Plant ) has nearly been completed. Delivery via Kalemi and on to Dar Es Salaam is the expected route.

Q20. What is the current situation with the DRC Govt? Currently the DRC Govt. feel that the current situation is a problem and it would be good to have it cleaned up. The possible $9.5 billion penalty for losing all the court cases is not something that they would be happy with.

Q21. Why the delay in providing Annual Report? Unavoidable but will be ready soon.

Q 22. What is the current progress on the 5% shareholding AVZ purchased but has been in dispute? AVZ’s deal is under Australian Law and AVZ expect that this will progress in March 2026.

Q 23. A query on Cath’s Option for 30.5% shareholding was raised. AVZ will have to take into consideration any arrangements that they have with Cath in any takeover.

Q24. Will any deals be completed prior to 26th Feb 2026? Discussions have commenced but they are only just starting. Any Scheme of Arrangement or Sale would take at least 90 to 120 days from when any proposal was received.

Q25. How many Company’s are currently showing some interest. At least 3 not including Kobold.

Q 26. What is the current relationship with Cath? Mr.Pei very private but supportive.

Q 27. Has the recent increase in Lithium prices been helpful? Yes.

Q 28. Does AVZ have enough Capital for any eventuality. Yes Cath supportive and other parties also interested.

Q 29. Was the low ball offer put in writing? Yes.

Q 30. What price did they offer? Next question.

Q 31. AVZ originally had first access to the Hydro Plant and now Zijin has rebuilt it for their own operations. Will AVZ be able to get access to this cheap Electricity source? Yes, this Electricity source must be part of any package.

Q 32. Do AVZ expect the DRC to provide a license for Manono? Yes, the license will be issued to a US Govt or US Company.

Q 33. Will a Commercial decision be made with the US Govt? Yes, the DRC need the US to assist in security and Infrastructure.

Note my interpretation, not financial advice.

You’re an absolute legend, thanks very much for capturing and sharing

 

[Mcconnellmary]

My summary for non attendees.

AVZ AGM Perth 3.30 pm Thursday 27th November 2025​

Please note this information is based on my understanding of the questions and AVZ’s responses. In some cases, my shorthand notes may not be perfect, but I think I have covered the mood and current position adequately for those shareholders unable to attend.

The meeting was conducted with Rhett Brans as the Chair due to John Clarke not being available. Directors Nigel Ferguson and Graeme Johnston were present together with the Company Secretary Ben Cohen. A large group of people were present and my guess was that at least 80 to 100 people were in attendance

The 2 resolutions were submitted and voting of people attending was needed before the poll was concluded. The numbers were strongly in favour of acceptance of the 2 resolutions.

On finalising the resolutions, the meeting was open to questions with the MD Nigel providing most of the answers. The first 9 questions were from non attendees.

Q1. Advice was provided that the Annual Report was still being finalised and this information would be available shortly.

Q2. A query was raised about the assessment of the ASIC enquiry. Nigel indicated that they felt that AVZ’s position was strong as their legality to the 15% purchase was being concluded in their favour.

Q3. The IPSA Arbitration was suspended for 3 months due to the interest shown by possible takeover options, together with assessing the possible need for capital if long delays occur. These options are via a number of sources.

Q4. This question was along similar lines to Question 3.

Q5. This question was about the Board’s Confidence in achieving an acceptable sale. The response was that the Board was confident that they would get an acceptable offer to present to shareholders. AVZ currently have a Corporate Adviser in the USA.

Q6. Will AVZ get an acceptable offer with a reasonable price for shareholders? AVZ indicated that any proposal would have to satisfy Legal/Commercial and Diplomatic requirements.

Q7. Does any deal have to be approved by shareholders. Yes and the Board has already rejected a very low offer which they felt was so low that it was not in the best interest of shareholders.

Q8. Why do we need more finance? AVZ indicated that as their were a lot of Diplomatic hurdles still to be finalised they felt it prudent to ensure that they were not constrained by any delays.

Q9. Do Kobold have any legal rights to Manono? No and AVZ is noy constrained in dealing with any third partners.

Q10. This is the second time that AVZ have deferred the legal actions. What confidence do the Board have that this time some progress will be made on a resolution?

Nigel stated that the interested US groups have the backing of the US State Department to do a deal. Unfortunately, some time has been needed to get everyone up to speed. The DRC and Rwanda peace document may be delayed as Kagami is ill and currently unable to travel. The State Department have about 10 projects that they are interested in with Manona on top of the list.

Q11. What is the current attitude of DRC and Chinese to the current situation? The US appear to accept that Zijin will keep the North. The US believe that Tshisekedi needs the US support and that the US will be able to get approval for their required mineral deposits.

Q12. What is the attitude of the US to having Chinese involvement. The US are not in favour of any Chinese involvement.

Q13. AVZ and Cath relationship. A recent meeting has been held between the parties and any solution to asset sales will be up for negotiation. Relationships with Cath are on good terms.

Q14. Is a sale to Cath possible? Current arrangement for a sale is with a US company.

Q15. Any comments of the first offer AVZ received? Up front arrangement low and full payment over 6 months. The low offer also nominated further dividend type payments over many years.

Q16. With US State Department support at least 1 entity showing interest at the moment.

Q17. The mineral deal expected to be signed 4th December is that a pre requisite for any Manono deal. No, any Manono deal can go ahead without this requirement.

Q18. Have the Australian Government helped AVZ in any meaningful way? No.

Q18. Would AVZ consider any deal that had a mixture of payments such as Cash/Royalty/Other Company Shares? AVZ will look for the best deal for Shareholders.

Q19. What progress have Zijin made on building a mine on CDL? Zijin are nearly ready to deliver product. The plant plus associated infrastructure ( including the Hydro Plant ) has nearly been completed. Delivery via Kalemi and on to Dar Es Salaam is the expected route.

Q20. What is the current situation with the DRC Govt? Currently the DRC Govt. feel that the current situation is a problem and it would be good to have it cleaned up. The possible $9.5 billion penalty for losing all the court cases is not something that they would be happy with.

Q21. Why the delay in providing Annual Report? Unavoidable but will be ready soon.

Q 22. What is the current progress on the 5% shareholding AVZ purchased but has been in dispute? AVZ’s deal is under Australian Law and AVZ expect that this will progress in March 2026.

Q 23. A query on Cath’s Option for 30.5% shareholding was raised. AVZ will have to take into consideration any arrangements that they have with Cath in any takeover.

Q24. Will any deals be completed prior to 26th Feb 2026? Discussions have commenced but they are only just starting. Any Scheme of Arrangement or Sale would take at least 90 to 120 days from when any proposal was received.

Q25. How many Company’s are currently showing some interest. At least 3 not including Kobold.

Q 26. What is the current relationship with Cath? Mr.Pei very private but supportive.

Q 27. Has the recent increase in Lithium prices been helpful? Yes.

Q 28. Does AVZ have enough Capital for any eventuality. Yes Cath supportive and other parties also interested.

Q 29. Was the low ball offer put in writing? Yes.

Q 30. What price did they offer? Next question.

Q 31. AVZ originally had first access to the Hydro Plant and now Zijin has rebuilt it for their own operations. Will AVZ be able to get access to this cheap Electricity source? Yes, this Electricity source must be part of any package.

Q 32. Do AVZ expect the DRC to provide a license for Manono? Yes, the license will be issued to a US Govt or US Company.

Q 33. Will a Commercial decision be made with the US Govt? Yes, the DRC need the US to assist in security and Infrastructure.

Note my interpretation, not financial advice.

Sounds like a pretty accurate summary of the answers given by Nigel. Felt that he was being pretty restricted in his answers due to legal issues. Sad to not be able to have an open conversation.

 

[Carlos Danger]

Q14. Is a sale to Cath possible? Current arrangement for a sale is with a US company.

I've never seen the SPA's. But I know for a fact that Article 2.1 of the SPA's and Cong's notary deeds says that this is gringo bullshit imo

So much for ‘offer from another quarter’

Gringos gonna gringo

Asic gonna asic imo

 

[Hodlandwin69]

My summary for non attendees.

AVZ AGM Perth 3.30 pm Thursday 27th November 2025​

Q24. Will any deals be completed prior to 26th Feb 2026? Discussions have commenced but they are only just starting. Any Scheme of Arrangement or Sale would take at least 90 to 120 days from when any proposal was received.

Ok so going to be another 6 months at least

 

[Hudnut]

Thanks heaps for this, GS.

Q5. This question was about the Board’s Confidence in achieving an acceptable sale. The response was that the Board was confident that they would get an acceptable offer to present to shareholders. AVZ currently have a Corporate Adviser in the USA.

I'd love to know a timeframe for this.


Q10. This is the second time that AVZ have deferred the legal actions. What confidence do the Board have that this time some progress will be made on a resolution?

Nigel stated that the interested US groups have the backing of the US State Department to do a deal. Unfortunately, some time has been needed to get everyone up to speed. The DRC and Rwanda peace document may be delayed as Kagami is ill and currently unable to travel. The State Department have about 10 projects that they are interested in with Manona on top of the list.

Q11. What is the current attitude of DRC and Chinese to the current situation? The US appear to accept that Zijin will keep the North. The US believe that Tshisekedi needs the US support and that the US will be able to get approval for their required mineral deposits.

Zijin. Kunts.

I wonder if the approvals need to happen before or after sale.


Q12. What is the attitude of the US to having Chinese involvement. The US are not in favour of any Chinese involvement.

Means CATH needs incentive to exit stage left?


Q16. With US State Department support at least 1 entity showing interest at the moment.

Other have mentioned 3 parties? But only 1 with State Dept support?

Q17. The mineral deal expected to be signed 4th December is that a pre requisite for any Manono deal. No, any Manono deal can go ahead without this requirement.

So if Kagami can't travel or Fat Felix pulls out again, things can continue.


Q19. What progress have Zijin made on building a mine on CDL? Zijin are nearly ready to deliver product. The plant plus associated infrastructure ( including the Hydro Plant ) has nearly been completed. Delivery via Kalemi and on to Dar Es Salaam is the expected route.

Zijin....I cannot stress this enough.....Kunts.

Q20. What is the current situation with the DRC Govt? Currently the DRC Govt. feel that the current situation is a problem and it would be good to have it cleaned up. The possible $9.5 billion penalty for losing all the court cases is not something that they would be happy with.

Yeah, but it hasn't moved them to action so far.


Q24. Will any deals be completed prior to 26th Feb 2026? Discussions have commenced but they are only just starting. Any Scheme of Arrangement or Sale would take at least 90 to 120 days from when any proposal was received.

Would love to know if they think we'll get a proposel before then.


Q 32. Do AVZ expect the DRC to provide a license for Manono? Yes, the license will be issued to a US Govt or US Company.

Important one. Appears the DRC don't have to give us the license before sale. Handy, since we aren't getting a Christmas card from them.

Q 33. Will a Commercial decision be made with the US Govt? Yes, the DRC need the US to assist in security and Infrastructure.

Gonna have to be. Our government is useless.

 

[Colaci78]

My summary for non attendees.

AVZ AGM Perth 3.30 pm Thursday 27th November 2025​

Please note this information is based on my understanding of the questions and AVZ’s responses. In some cases, my shorthand notes may not be perfect, but I think I have covered the mood and current position adequately for those shareholders unable to attend.

The meeting was conducted with Rhett Brans as the Chair due to John Clarke not being available. Directors Nigel Ferguson and Graeme Johnston were present together with the Company Secretary Ben Cohen. A large group of people were present and my guess was that at least 80 to 100 people were in attendance

The 2 resolutions were submitted and voting of people attending was needed before the poll was concluded. The numbers were strongly in favour of acceptance of the 2 resolutions.

On finalising the resolutions, the meeting was open to questions with the MD Nigel providing most of the answers. The first 9 questions were from non attendees.

Q1. Advice was provided that the Annual Report was still being finalised and this information would be available shortly.

Q2. A query was raised about the assessment of the ASIC enquiry. Nigel indicated that they felt that AVZ’s position was strong as their legality to the 15% purchase was being concluded in their favour.

Q3. The IPSA Arbitration was suspended for 3 months due to the interest shown by possible takeover options, together with assessing the possible need for capital if long delays occur. These options are via a number of sources.

Q4. This question was along similar lines to Question 3.

Q5. This question was about the Board’s Confidence in achieving an acceptable sale. The response was that the Board was confident that they would get an acceptable offer to present to shareholders. AVZ currently have a Corporate Adviser in the USA.

Q6. Will AVZ get an acceptable offer with a reasonable price for shareholders? AVZ indicated that any proposal would have to satisfy Legal/Commercial and Diplomatic requirements.

Q7. Does any deal have to be approved by shareholders. Yes and the Board has already rejected a very low offer which they felt was so low that it was not in the best interest of shareholders.

Q8. Why do we need more finance? AVZ indicated that as their were a lot of Diplomatic hurdles still to be finalised they felt it prudent to ensure that they were not constrained by any delays.

Q9. Do Kobold have any legal rights to Manono? No and AVZ is noy constrained in dealing with any third partners.

Q10. This is the second time that AVZ have deferred the legal actions. What confidence do the Board have that this time some progress will be made on a resolution?

Nigel stated that the interested US groups have the backing of the US State Department to do a deal. Unfortunately, some time has been needed to get everyone up to speed. The DRC and Rwanda peace document may be delayed as Kagami is ill and currently unable to travel. The State Department have about 10 projects that they are interested in with Manona on top of the list.

Q11. What is the current attitude of DRC and Chinese to the current situation? The US appear to accept that Zijin will keep the North. The US believe that Tshisekedi needs the US support and that the US will be able to get approval for their required mineral deposits.

Q12. What is the attitude of the US to having Chinese involvement. The US are not in favour of any Chinese involvement.

Q13. AVZ and Cath relationship. A recent meeting has been held between the parties and any solution to asset sales will be up for negotiation. Relationships with Cath are on good terms.

Q14. Is a sale to Cath possible? Current arrangement for a sale is with a US company.

Q15. Any comments of the first offer AVZ received? Up front arrangement low and full payment over 6 months. The low offer also nominated further dividend type payments over many years.

Q16. With US State Department support at least 1 entity showing interest at the moment.

Q17. The mineral deal expected to be signed 4th December is that a pre requisite for any Manono deal. No, any Manono deal can go ahead without this requirement.

Q18. Have the Australian Government helped AVZ in any meaningful way? No.

Q18. Would AVZ consider any deal that had a mixture of payments such as Cash/Royalty/Other Company Shares? AVZ will look for the best deal for Shareholders.

Q19. What progress have Zijin made on building a mine on CDL? Zijin are nearly ready to deliver product. The plant plus associated infrastructure ( including the Hydro Plant ) has nearly been completed. Delivery via Kalemi and on to Dar Es Salaam is the expected route.

Q20. What is the current situation with the DRC Govt? Currently the DRC Govt. feel that the current situation is a problem and it would be good to have it cleaned up. The possible $9.5 billion penalty for losing all the court cases is not something that they would be happy with.

Q21. Why the delay in providing Annual Report? Unavoidable but will be ready soon.

Q 22. What is the current progress on the 5% shareholding AVZ purchased but has been in dispute? AVZ’s deal is under Australian Law and AVZ expect that this will progress in March 2026.

Q 23. A query on Cath’s Option for 30.5% shareholding was raised. AVZ will have to take into consideration any arrangements that they have with Cath in any takeover.

Q24. Will any deals be completed prior to 26th Feb 2026? Discussions have commenced but they are only just starting. Any Scheme of Arrangement or Sale would take at least 90 to 120 days from when any proposal was received.

Q25. How many Company’s are currently showing some interest. At least 3 not including Kobold.

Q 26. What is the current relationship with Cath? Mr.Pei very private but supportive.

Q 27. Has the recent increase in Lithium prices been helpful? Yes.

Q 28. Does AVZ have enough Capital for any eventuality. Yes Cath supportive and other parties also interested.

Q 29. Was the low ball offer put in writing? Yes.

Q 30. What price did they offer? Next question.

Q 31. AVZ originally had first access to the Hydro Plant and now Zijin has rebuilt it for their own operations. Will AVZ be able to get access to this cheap Electricity source? Yes, this Electricity source must be part of any package.

Q 32. Do AVZ expect the DRC to provide a license for Manono? Yes, the license will be issued to a US Govt or US Company.

Q 33. Will a Commercial decision be made with the US Govt? Yes, the DRC need the US to assist in security and Infrastructure.

Note my interpretation, not financial advice.

Thank you

 

[Jacob Kiraz]

Think they are all away to the tavern.
My take, for what it is worth is that there are parties interested, three from translation of Nigel’s answers to shareholders, but will they pay “ fair” value, I fear not. I get the impression that we will be lucky to get some small amount back, not the life changing amount that should have been ours. USA driving it. Kobald a pack of pricks, wanted it for nothing.
Cannot decide how I feel. Bought at a low price to probably ok for me to get investment back , maybe , but others

Closing price was 76 cents i think, what is a fair price for a share

 

[Dijon101]

Closing price was 76 cents i think, what is a fair price for a share

$12 dumb dumb...










But in all seriousness (i was going to say $12 again)

$3.5 -$6

 

[Schnitzelfresser]

Offer was in the cents. So would be interest to know if high or low "cents". Guess it's close to the offer the guy from the FT wrote. Guess we could be lucky if we receive something around AUD 1-2.

 

[Flight996]

My summary for non attendees.

AVZ AGM Perth 3.30 pm Thursday 27th November 2025​

Thank you for taking the time to report back to us, and particularly for the well structured summary of responses. We are all much better informed, and very appreciative of your work.

Cheers
F

 

[Flight996]

And don't you just love Nigel's response:

Q18. Have the Australian Government helped AVZ in any meaningful way? No

 

[Winenut]

And don't you just love Nigel's response:

Q18. Have the Australian Government helped AVZ in any meaningful way? No

Albanese and Wong are spineless fucking weasels hanging Australian mum and dad AVZ investors out to dry

Fuckers.....

 

[Flight996]

Albanese and Wong are spineless fucking weasels hanging Australian mum and dad AVZ investors out to dry

Fuckers.....

Absolutely correct sir.