AVZ Discussion 2022

[CashKing]

View attachment 5728

Yaass, finally! Fuck you Hot Crapper

Shit mate I took a while they must have respected you a lot…. I’m wondering how you got away with it all these years….

 

[CashKing]

Um, I guess so. I did like to pin, it was the best part of Hotcrapper to be honest. Unless we can convince Roaminoz to defect

RIP DUDE

Cannot believe after all the years you put in it comes to this….WTF has happened to HC, I know AVZ has smashed the mods over the last few years & maybe the mods are over it, seems like a shift in mods to be honest. Now the mods like the trolls…. WTF ..

 

[Freehold]

To be extremely honest...

Fuck hotcrapper, its policies and der geist.
Hotcrapper for its selective moderating modus of operandi.

Der geist waited with his negative posting on the bird till after he bailed out.
I would not be surprised he bought back in after it bottomed out and is posting on hotcrapper under a different name.
Maybe even is posting on here under a different name, who knows.

I sold a big parcel, because I felt it was overheating, I used the opportunity to derisk, be freehold (skuse the punt) plus making a profit on the way.
Everybody has to make decisions based on their situation and feeling of the market.

But putting the boot in after selling out in an attempt to create fear for a low re-entry is a gutter mentality.
One can make a profit in a more positive way.

Fair enough...

 

[cruiser51]

Yes I agree, get it up on HC ; I will also throw few marbles under D

poor Dazaliam ; the poor knobhead never had a chance

I can't help it that Dazaliam is Dazaliam, I am not his creator.

Talk with his mum and tell her that there is plenty of room for improvement.
But you have to consider that the apple never falls very far from the apple tree.

Maybe being a knob runs in his family, or he could be the odd black sheep.

He could at least have made himself familiar with the rules here, before opening his mouth.

 

[Donegaldemon]

Howdy all , this place seems very civilised , a breath of fresh air in comparison to that other shithole

 

[CHB]

RDC : Projet de lithium Manono, le Ministre des Mines signe le permis d’exploitation en faveur de AVZ Minerals

La Ministre des Mines de la République Démocratique du Congo (RDC), Antoinette N’Samba Kalambayi, a signé un arrêté attribuant un permis d’exploitation à la compagnie minière AVZ Minerals pour son projet de lithium Manono. L’annonce a été faite par l’exploitant minier australien, le mercredi 4...

zoom-eco.net

"According to inside sources, a final investment decision is expected in the next few days before starting construction of the Manono mine."

 

[BEISHA]

Looking at Cominiere's web page, no mention of Jin Cheng.

Nigel mentions in the Axino interview definitely a minimum of 51%, so looks like he is not 100% sure about the Cominiere 15% either, but I understand he is still negotiating with the DRC.

So how will it play out?
At the end of the day, this is Felix T's show, he wants to tell the entire world that he is making the DRC corruption free, this is Felix's chance to show who is in control.
Felix, or a couple of corrupt knobs in Cominiere.

Tim will tell, next week interviews and questions on 121 mining week.
Never a dull moment.
Regardless of all the shit there is a great opportunity to top up.
From what I understand of he Cantor bit, their (US?)$1 Assessment was based on 51% ownership of Dathcom.

This was the article and the link

La Cominière fait grand plaisir au chinois Zijin dans le projet de lithium | Le Soft international

www-lesoftonline-net.translate.goog

La Cominière gives Chinese Zijin great pleasure in the lithium project

• Mon, 04/11/2022 - 16:28

KINSHASA, PARIS, BRUSSELS.
Le Soft International n°1550|MONDAY APRIL 11, 2022.
If that's true, it's to sleep on. A real scandal as it now erupts with each dive. This is the bitter observation that one could make. In a letter that sounds like a blaster, the General Inspectorate of Finance reportedly wrote to Prime Minister Jean-Michel Sama Lukonde Kyenge and brought to his particular attention a note on the results of a check on the regularity of the sale of the stakes of Cominière SA, a State Portfolio company, in Dathcom Mining SA. Note ? A real interpellation of the Head of Government...
The case? Better, the umpteenth case, because they are now legion: the 15% of the shares of the public company La Cominière in the company Dathcom Mining to the Chinese company Zijin Mining, carried out in violation of the legal provisions on the withdrawal of the Statement of Portfolio Companies.

These shares were valued at US$150,000,000, they were sold at US$33,440,000. Shortfall: US$116,560,000.
Then, the squandering of the proceeds of this sale. Of these US$33,440,000 received and, in collusion with the Board of Directors of Cominière SA, the managers of this public company have already distributed US$6,800,000.
The reasons, in their eyes, are not lacking: payment of snacks, fees, commissions and remuneration to those who contributed to the realization of this operation.

And, since there are no two without three, free transfer of 5% of the shares of Cominière SA in the company Dathcom Minging SA for the benefit of the company Dathomir Mining Sarl. Of which 5% would have been resold for US$85 million. A pattern that recalls many others...
WHAT WILL THE PRIME MINISTER DO?
In this leaked letter, three points stand out clearly and are bolded and underlined: “sale of the State's mining heritage”; “dissipation of the proceeds from the sale of 15% of the shares of Cominière SA in the company Dathcom Minging”; "transfer free of charge...". In short, a scandal awaiting an exemplary sanction.
The IGF, who knows how to call a spade a spade, suspects three officials: the Managing Director ai of Cominière SA, Athanase Mwamba Misao, the members of the Board of Directors of Cominière who allegedly authorized these operations, the Minister of Portfolio Adèle Kahinda Mayna.
According to circles close to the case, it is following the recommendations issued by HE the President of the Republic, Head of State, for the supervision of all the financial operations of the State, (that) the Inspection Générale des Finances has just carried out a mission to control the sale of the holdings of the company Cominière SA, State Portfolio Company, in the company Dathcom Mining SA specializing in the production of lithium according to mission order no. 54/PR/IGF/lG CS/JAK/BRF/2022 of February 16, 2022 followed by mission order n°73/PR/IGF/IG-CS/JAK/BEP/2022 of February 22, 2022.
After this control mission, three important facts jump to the eye and for which “we seize your authority for decision”, writes the mail.
These are: selling off the State's mining heritage. The transfer of 15% of the shares of the public company La Cominière in the company Dathcom Mining to the company Zijin Mining was carried out in violation of the legal provisions on the withdrawal of the State from holding companies.
In fact, the 15% of the shares of Cominière SA valued at US$150,000,000 (one hundred and fifty million US dollars) were sold to Zijin Mining for a total value of US$33,440,000 (US dollars). Americans thirty-three million four hundred and forty thousand). This results in a shortfall of US$116,560,000 (US dollars one hundred and sixteen million five hundred and sixty thousand)”; “Waste of the proceeds from the sale of 15% of the shares of Cominière SA in the company Dathcom Mining.
Out of the total amount of proceeds from the sale of 15% of the shares, which amounts to US$33,440,000 (US dollars thirty-three million four hundred and forty thousand), Cominière SA has already used around US$6,800,000 US (US dollars sin million eight hundred thousand) for snacks, fees, commission and remuneration for the benefit of the persons who contributed to the sale of the shares, with the approval of the Board of Directors of Cominière SA".
Then: “Transfer free of charge of 5% of the shares of Cominière SA in the company Dathcom Mining SA for the benefit of Dathomir Mining Sarl. The presumed free and provisional transfer of 5% of Cominière's shares in Dathcom Mining SA to Dathomir Mining Sarl, which took place in 2017, proved in view of the transfer contract that it was final and irrevocable, with a price agreed between the two parties, but whose income has not been traced to Cominière SA. There is a presumption of forgery on the part of the Managing Director ai to carry out a fraudulent transfer of 5% of shares”.
Then close by appointing those responsible. "All these facts are the responsibility of the Chief Executive Officer ai of Cominière SA, the members of the Board of Directors of the said company as well as the Minister of State, Minister of the Portfolio".
La Cominière SA is a young mining company whose head office is located at n°5167, avenue Nyembo, Socimat district, in Kinshasa-Gombe. It was created on April 12, 2010 after the decision of the General Meeting of shareholders, namely, the Ministry of Portfolio and the National Institute of Social Security whose new name, since July 15, 2018 (law of July 15, 2016 ), is the National Social Security Fund, CNSS.
THE INFLUENTIAL CONG MAO HUAI.
La Cominière owns 35 mining areas scattered in North Katanga, in the provinces of Tanganyika and Haut-Lomami where there are pegmatite-type rocks rich in spodumene, a lithium mineral associated with stanno-coltaniferous ores.
More specifically in the territories of Manono, Mitwaba, Kalemie, Malemba-Nkulu, Bukama, Moba, Nyunzu, Kongolo. The company conducts all study, prospecting, research and mining operations for cassiterite, tantalum, niobium, wolfram, lithium, gold and all transferable and recoverable mineral substances.
The history of Cominière dates back to 1920 when the Geological and Mining Company of Belgian Engineers and Industrialists extracted tin in Manono. In 1960, the day after, the Geological and Mining Company independence sold its assets to the Geological and Mining Company of Congo.
Renamed Congo-Etain in 1968, then Zaire-Etain in 1971, the company saw its production gradually drop. In 1997, he resumed the name of Congo-Étain, before being reborn, at the beginning of the 2010s, under the name of Cominière, la Congolaise d'Exploitation Minière, whose capital is held by the Congolese State (90%) and the National Social Security Fund (10%).
Dathomir Mining Resources, owned by the influential Chinese businessman Cong Mao Huai, called Simon Cong in Congo, and considered the bridgehead of Chinese business in the country, in September 2020 concluded a sale of 10% of its shares in Manono to the Australian operator of the project, AVZ Minerals.
The finalization of the transaction makes AVZ Minerals the owner of 75% of the lithium site against 25% for the state company Cominière.
Zijin Mining is a Chinese mining company. It is China's third largest copper enterprise. It is the leading gold company in China and operates the Zijinshan mine, China's largest gold mine. In May 2015, Zijin Mining bought 47% of the Kamoa project for US$412 million from Canadian Ivanhoe Mines.
In total, Zijin Mining has a 57% stake in the Kamoa copper mine and a 51% stake through its subsidiary Jin Cheng Mining in the Compagnie Minière de Musonoie Global.
Classified as a strategic metal in the Congo, lithium is a rare metal. It is used in the manufacture of cells and batteries, in particular for solar panels, computers, smartphones and electric cars, but also in the glass and ceramics industry, such as in the manufacture of special lubricants and alloys, the treatment of stale air by CO2, the pharmaceutical industry and that of rubber and thermoplastics.
The world's largest producers of lithium to date are Bolivia, Chile and Argentina, dubbed the “lithium triangle”, as well as China and Australia. Lithium from the Congo could eventually prove to be the easiest to extract and of the highest quality. The country, which hosts a number of metals essential to the energy transition and which arouse covetousness, is already the main world supplier of cobalt and one of the major players in the production of copper, attracts the whole world with its immense reserves of lithium to his bow.
D. DADEI.



It is pretty clear that Simon Cong is behind this and that the entire deal smells of the old corrupt Kabila era.
I am indeed extremely curious to see how Felix T deals with this.

Would be nice when all this shit is over and done with.
It is pretty clear that Zijin, a PRC state controlled entity, cannot be trusted.

If a state entity deals in and promotes a corrupt way of doing business, that state should be seen as a corrupt state and any business dealings with that state should be seen in that light.

Thanks mate, this article fills a few blanks for me in the corporate structure which i have never really paid attention to in the past, its clear that AVZ owns 75% of Manono minus 24% to Cath, the other 15% is as murky as hell.

What i want to know is , why didnt Dathomir ( Cong Mao ) and Zijin Mining collaborate with DRC to develop Manono themselves?

How did AVZ get a look in the first place ?

imo

 

[DiscoDanNZ]

RDC : Projet de lithium Manono, le Ministre des Mines signe le permis d’exploitation en faveur de AVZ Minerals

La Ministre des Mines de la République Démocratique du Congo (RDC), Antoinette N’Samba Kalambayi, a signé un arrêté attribuant un permis d’exploitation à la compagnie minière AVZ Minerals pour son projet de lithium Manono. L’annonce a été faite par l’exploitant minier australien, le mercredi 4...

zoom-eco.net

"According to inside sources, a final investment decision is expected in the next few days before starting construction of the Manono mine."

Wouldn't surprise me at all...

It's not like they all would have sat around the office waiting for months for the ML to get ticked off and then gone 'right guys first thing Monday we will start on ticking off the next box.'

 

[CHB]

Wouldn't surprise me at all...

View attachment 5785

It's not like they all would have sat around the office waiting for months for the ML to get ticked off and then gone 'right guys first thing Monday we will start on ticking off the next box.'

Yep.

They previously said they would likely start building with just CATH money and fill the rest of the cash later.

BFS was ready ages ago I think so should be issued either together or very soon after ML.

 

[Bray]

Good to see NF very confident about the ownership %s. AVZ 51% min, happy days.
Looking forward to seeing the future drill results from the remaining area of the project, interesting only few thousand meters of drilling taken outside the main deposit area.

This week, official ML signing + BFS?

 

[Samus]

AVZ and Suzhou (CATH) are also conducting a study to increase annual production from 4.5 million tonnes per annum to 10 million tonnes per annum.

Anyone with more related experience expecting this to impact the timing of the BFS?

 

[CHB]

AVZ and Suzhou (CATH) are also conducting a study to increase annual production from 4.5 million tonnes per annum to 10 million tonnes per annum.

Anyone with more related experience expecting this to impact the timing of the BFS?

Someone from the europe presentations mentioned the BFS will be based on 4.5 mtpa initial start up

 

[Xerof]

I've listened to the german interview a few times now. What I get out of it is 75% is in the bag. Zijin deal is alluded to as a distraction. But of real interest was when he says the DRC will end up with 10 or 15%. So I'm wondering whether the final partnership structure will be DRC 15%, CATH 24%, AVZ 61%, and do the DRC pay costs on that extra 5%, or is there a quid pro quo struck around the price AVZ pay for the extra 10% (if it's not going to be the full 15%)

I would be very happy with that - what we don't need are 2 chinese partners. Once again I express my displeasure at even having to talk about Zijin.

 

[Winenut]

Looks like AZZVF in the US opened lower overnight but closed on an intraday high (although this was still an overall drop from the previous days close of about 3.5%)

Germany closed down about 10% which is a bit disappointing

Hopefully the DRC and ol' Nige can get crackin' with tidying up some of the legal issues and then bring on a few more numbers like the BFS and FID in quick fashion

 

[Frank]

Looks like the Germans and the Saudi's are getting serious atm by Betting $Billions to make electric vehicles and batteries, as

Volkswagen boosts electric car investment in Spain to $10.6 billion​

German carmaker Volkswagen AG and partners will invest 10 billion euros ($10.6 billion) to make electric vehicles and batteries in Spain, its chief executive said on Thursday, 3 billion euros more than it had previously committed.

The company also announced a partnership deal with Spain’s largest power utility Iberdrola, which will set up a solar park to partly power the battery plant to be built in the municipality of Sagunto near Valencia.

Iberdrola will invest 500 million euros in the electrification plan, its Chief Executive Officer Ignacio Sanchez Galan told reporters, without giving further details.

Volkswagen said in March it would invest 7 billion euros to build a battery plant and produce electric vehicles at its two car factories in Spain, but CEO Herbert Diess said that figure had been raised to 10 billion with new partners on board.

“We will electrify the second-largest car producer in Europe (Spain) with a new giga-factory of batteries and the production of electric cars in two plants,” Diess told an event in Sagunto, adding the plan was to create “a full ecosystem of suppliers from lithium extraction to the assembly of batteries”.

Diess speaking on a visit with Spanish Prime Minister Pedro Sanchez to the site where the factory will be built.

The German carmaker aims to start building the 40-gigawatt-hour (GWh) plant in the first quarter of 2023, with serial production to start by 2026.

By 2030, the site will employ more than 3,000 staff, Volkswagen said.

Spain, Europe’s largest carmaker after Germany, last month launched a bidding process for about 3 billion euros in loans and grants to promote electric vehicle (EV) production. Volkswagen and its Spanish unit SEAT have presented a bid.

Winners of the PERTE funds, as the programme that consists mostly of European Union pandemic relief funds is known, will be chosen this year.

The company will invest 3 billion euros in the plant in Sagunto, another 3 billion euros in four SEAT factories, including the Martorell plant near Barcelona, and 1 billion in Pamplona, it said.

www.mining.com/category/battery-metals/

Saudi Arabia announces $6bn investments in steel complex, EV metals plant​

Saudi Arabia’s Ministry of Industry and Mineral Resources said it has secured $6 billion for a steel plate mill complex and electric vehicle battery metals plant as part of plans to lure $32 billion of investment into the mining sector.

The ministry’s target would fund nine mining projects for midstream minerals and metals, said Industry and Mineral Resources Minister Bandar al-Khorayef, according to a statement.

The kingdom is seeking to diversify its economy away from oil by pouring hundreds of billions of dollars into a plan called Vision 2030 initiated by de facto ruler Crown Prince Mohammed bin Salman. Mining is one of the sectors that has been identified for expansion.

The nine projects include a $4 billion steel plate mill complex for the shipbuilding, oil and gas, construction and defence sectors and a “green” flat steel complex that will supply the automotive, food packaging, machinery and equipment, and other industrial sectors.

Both projects are already underway, as is a $2 billion EV battery metals plant.

Last month the Saudi government signed an agreement to purchase between 50,000 and 100,000 EVs over 10 years from Lucid Group Inc, which Saudi sovereign fund PIF owns a majority stake in.

The minister said the projects would create over 14,000 jobs and added the ministry is now processing 145 exploration license applications from foreign companies.

“These targeted investments represent an important ‘down payment’ in our efforts to move beyond exploration and extraction and into the creation of integrated value chains, a central focus of our overall mining strategy,” al-Khorayef said in the statement.

“The investments will continue to position the Kingdom as a mining production and logistics hub for a region that stretches from Africa to Asia, while also supporting the transformation of our mining sector so it can achieve its potential.”

www.mining.com/category/battery-metals/

Food for thought on the Road to Mining Manono

Frank

 

[BEISHA]

I've listened to the german interview a few times now. What I get out of it is 75% is in the bag. Zijin deal is alluded to as a distraction. But of real interest was when he says the DRC will end up with 10 or 15%. So I'm wondering whether the final partnership structure will be DRC 15%, CATH 24%, AVZ 61%, and do the DRC pay costs on that extra 5%, or is there a quid pro quo struck around the price AVZ pay for the extra 10% (if it's not going to be the full 15%)

I would be very happy with that - what we don't need are 2 chinese partners. Once again I express my displeasure at even having to talk about Zijin.

I think that is a lovely balance............AVZ 61% Cath 24% DRC 15%

If indeed DRC and AVZ have very good relations , which i dont doubt, then the Chinese entities havnt got a hope of controlling the narrative which has been my only concern from day 1.

Bring on the ML and the corresponding updated BFS officially and it doesnt matter what the MACRO environment does...........it will be explosive.

imo

 

[Aeolian]

Looks like the Germans and the Saudi's are getting serious atm by Betting $Billions to make electric vehicles and batteries, as

Volkswagen boosts electric car investment in Spain to $10.6 billion​

German carmaker Volkswagen AG and partners will invest 10 billion euros ($10.6 billion) to make electric vehicles and batteries in Spain, its chief executive said on Thursday, 3 billion euros more than it had previously committed.

The company also announced a partnership deal with Spain’s largest power utility Iberdrola, which will set up a solar park to partly power the battery plant to be built in the municipality of Sagunto near Valencia.

Iberdrola will invest 500 million euros in the electrification plan, its Chief Executive Officer Ignacio Sanchez Galan told reporters, without giving further details.

Volkswagen said in March it would invest 7 billion euros to build a battery plant and produce electric vehicles at its two car factories in Spain, but CEO Herbert Diess said that figure had been raised to 10 billion with new partners on board.

“We will electrify the second-largest car producer in Europe (Spain) with a new giga-factory of batteries and the production of electric cars in two plants,” Diess told an event in Sagunto, adding the plan was to create “a full ecosystem of suppliers from lithium extraction to the assembly of batteries”.

Diess speaking on a visit with Spanish Prime Minister Pedro Sanchez to the site where the factory will be built.

The German carmaker aims to start building the 40-gigawatt-hour (GWh) plant in the first quarter of 2023, with serial production to start by 2026.

By 2030, the site will employ more than 3,000 staff, Volkswagen said.

Spain, Europe’s largest carmaker after Germany, last month launched a bidding process for about 3 billion euros in loans and grants to promote electric vehicle (EV) production. Volkswagen and its Spanish unit SEAT have presented a bid.

Winners of the PERTE funds, as the programme that consists mostly of European Union pandemic relief funds is known, will be chosen this year.

The company will invest 3 billion euros in the plant in Sagunto, another 3 billion euros in four SEAT factories, including the Martorell plant near Barcelona, and 1 billion in Pamplona, it said.

www.mining.com/category/battery-metals/

Saudi Arabia announces $6bn investments in steel complex, EV metals plant​

Saudi Arabia’s Ministry of Industry and Mineral Resources said it has secured $6 billion for a steel plate mill complex and electric vehicle battery metals plant as part of plans to lure $32 billion of investment into the mining sector.

The ministry’s target would fund nine mining projects for midstream minerals and metals, said Industry and Mineral Resources Minister Bandar al-Khorayef, according to a statement.

The kingdom is seeking to diversify its economy away from oil by pouring hundreds of billions of dollars into a plan called Vision 2030 initiated by de facto ruler Crown Prince Mohammed bin Salman. Mining is one of the sectors that has been identified for expansion.

The nine projects include a $4 billion steel plate mill complex for the shipbuilding, oil and gas, construction and defence sectors and a “green” flat steel complex that will supply the automotive, food packaging, machinery and equipment, and other industrial sectors.

Both projects are already underway, as is a $2 billion EV battery metals plant.

Last month the Saudi government signed an agreement to purchase between 50,000 and 100,000 EVs over 10 years from Lucid Group Inc, which Saudi sovereign fund PIF owns a majority stake in.

The minister said the projects would create over 14,000 jobs and added the ministry is now processing 145 exploration license applications from foreign companies.

“These targeted investments represent an important ‘down payment’ in our efforts to move beyond exploration and extraction and into the creation of integrated value chains, a central focus of our overall mining strategy,” al-Khorayef said in the statement.

“The investments will continue to position the Kingdom as a mining production and logistics hub for a region that stretches from Africa to Asia, while also supporting the transformation of our mining sector so it can achieve its potential.”

www.mining.com/category/battery-metals/


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Food for thought on the Road to Mining Manono

Frank

 

[Aeolian]

 

[Scoota30]

Anybody know what the chances of us doing a FID and making zijin pay up 15% capital expenditure for their illegal ownership before they lose it? Would be nice...

 

[BEISHA]

Anybody know what the chances of us doing a FID and making zijin pay up 15% capital expenditure for their illegal ownership before they lose it? Would be nice...

Welcome Scoota to TSE !