Sammy_da_Smile
Regular
Hmm Interesting Article.............. I am not sure the validity of this at all.
I really don't understand how they think they have a case? If this is a legit article released by Zijin, then they completely dis the statements made by Nigel in the announcement and in the Axino youtube video. It will be interesting how this plays out. They are definately playing dirty the bastards.
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Source - https://www.sohu.com/a/544607618_166874
Recently, Dr. Nsamba, the Minister of Mines of the Democratic Republic of the Congo, is about to sign a ministerial decree granting the Mining License of the Manono Lithium Mine in the Democratic Republic of the Congo to Dathcom Mining Company. Zijin Mining acquired a 15% stake in the Manono Lithium Mine by acquiring an equity interest in the Democratic Republic of the Congo (DRC) National Mining Development Corporation (COMINIERE).
The Manono lithium mine in the Democratic Republic of the Congo (DRC) is one of the world's largest uncover-ready-to-open-develop lithium LCT (lithium, cesium, tantalum) pegmatite deposits, and the JORC report, updated in July 2021, shows that the total resource volume reached 401 million tons, with an average grade of 1.63% lithium oxide, equivalent to 16.32 million tons of lithium carbonate (LCE) equivalent.
The Manono Lithium Mine is 100% owned by Dr. Dathcom, a company in the Democratic Republic of the Congo. Dathcom is a joint venture established in 2016, and after the signing of a number of supplementary agreements, in 2017 AVZ International Australia, the Democratic Republic of the Congo (COMINIERE) and Dathomir Mining Resources SARL held 60%, 25% and 15% of the shares respectively.
Since 2014, Zijin Mining has invested in the world-class Kamoa copper mine project and the Kolwezi copper and cobalt project, cement and limestone industry extension project in the Dr. Republic of the Congo (DRC), which has played an important role in increasing income and poverty alleviation in the DRC (DRC), and has been highly recognized by the DRC government and local communities. In view of Zijin Mining's outstanding performance in the construction and operation of the Dr. Republic of the Congo (DRC) project, the DRC state-owned mining company has stepped up its cooperation with Zijin Mining, and through negotiations from July to September 2021, the state-owned enterprise COMEIERE agreed to transfer its 15% equity interest in Dathcom and sign an agreement, so that Jincheng Mining, a subsidiary of Zijin Mining, obtained a 15% interest in the Manono lithium mine project; at the same time, the two parties established a joint venture to establish Catamba Mining Company. Jointly developed two greenfield exploration and mining rights of PE12453 and PE13427 outside the Manono lithium mine.
Zijin Mining's investment representative said that the acquisition of a 15% interest in Zijin Mining Manono Lithium Mine can be described as a twist and turn. In September 2021, under the premise of the approval of the Ministry of State-owned Assets Supervision and Administration of the Democratic Republic of the Congo (DRC), COMINIERE signed the Equity Transfer Agreement with Zijin Mining under the condition of complying with the provisions of the pre-emptive right, and Jincheng Mining, a subsidiary of Zijin Mining, acquired its 15% equity interest in the Manono lithium mine project. The transaction was blocked by AVZ, the other party refused to convene a board of directors, shareholders' meeting, and twice filed a lawsuit with the court, forcing the transaction to move forward to judicial proceedings; in November 2021, the Commercial Court of Ruben and Brazil of the Democratic Republic of the Congo (DRC) rejected AVZ's application and presided over a general meeting of shareholders to approve the transfer of 15% of the equity of JINCHENG MINING, jincheng Mining became a legal shareholder holding 15% of the equity of Dathcom, and completed the relevant commercial registration and change of movable property registration number (RCCM). Since then, AVZ has further objected and obstructed through multiple channels, and in January 2022, the Commercial Court of Ruben Brazil once again rejected AVZ's claim to revoke the relevant shareholders' resolution and the changed RCCM.
The relevant person in charge of Zijin Mining said that Zijin Mining, as a responsible mining company, has a successful and rich experience in operation and management in the Democratic Republic of the Congo (DRC) in Africa, and the addition of Zijin Mining is undoubtedly helpful to accelerate the development of Manono lithium mine, and hopes that all shareholders will strengthen communication and cooperation, abandon meaningless disputes, accelerate project construction, and make due contributions to the economic and social development of the DRC (DRC) and the value improvement of investors.
IN RESPONSE TO THE RECENT ANNOUNCEMENT OF AVZ COMPANY THAT JINCHENG MINING'S TRANSFER OF SYNERGE EQUITY WAS INVALID, THE INVESTMENT REPRESENTATIVE OF ZIJIN MINING REFUTED THAT ZIJIN MINING HAD FULFILLED THE CORRESPONDING PROCEDURES IN STRICT ACCORDANCE WITH THE PROVISIONS OF THE COMPANY'S ARTICLES OF ASSOCIATION IN THE PROCESS OF EQUITY TRANSFER, AND ACTIVELY COMPLIED WITH JUDICIAL PROCEDURES UNDER THE PREMISE OF THE OTHER PARTY'S OBSTRUCTION AND SOLVED THE PROBLEM THROUGH LITIGATION. IN THE FUTURE, THE COMPANY WILL ACTIVELY SAFEGUARD ITS OWN RIGHTS AND INTERESTS AND USE LITIGATION, ARBITRATION AND OTHER MEANS TO SOLVE FOLLOW-UP PROBLEMS.
It is reported that the transfer of 15% of the shares of Dathomir and AVZ company in Dathomir company due to major flaws in the original transaction process, after the application of Dathomir company (Dathomir), the court ruled that the transaction has been terminated, and Dathomir company (Dathomir) still legally holds 15% of the shares of Dathcom.
COMINIERE said that the transfer of 15% of the shares of Dathcom between Zijin Mining and COMINIERE is reasonable, legal and compliant, and Zijin Mining is the legal shareholder holding 15% of the shares of Dathcom; COMINIERE still holds 10% of the shares of Dathcom after the completion of the transfer of shares with Zijin Mining. AVZ's transfer of 24% of The shares of Dathcom is subject to legal formalities, and if the transfer is successful, AVZ's actual shareholding in Dathcom will drop to 36%, and there is no absolute control.
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Highlighted red, it is a fake article as that 24% goes to CATH not Dathcom? They cant even understand the article they are referencing as it directly states that?? haha
I really don't understand how they think they have a case? If this is a legit article released by Zijin, then they completely dis the statements made by Nigel in the announcement and in the Axino youtube video. It will be interesting how this plays out. They are definately playing dirty the bastards.
----------------------------------------------------------
Source - https://www.sohu.com/a/544607618_166874
Dr. Republic of the Congo (DRC) world-class Manono lithium mine development is imminent Zijin Mining holds 15% of the shares
2022-05-07
Recently, Dr. Nsamba, the Minister of Mines of the Democratic Republic of the Congo, is about to sign a ministerial decree granting the Mining License of the Manono Lithium Mine in the Democratic Republic of the Congo to Dathcom Mining Company. Zijin Mining acquired a 15% stake in the Manono Lithium Mine by acquiring an equity interest in the Democratic Republic of the Congo (DRC) National Mining Development Corporation (COMINIERE).
The Manono lithium mine in the Democratic Republic of the Congo (DRC) is one of the world's largest uncover-ready-to-open-develop lithium LCT (lithium, cesium, tantalum) pegmatite deposits, and the JORC report, updated in July 2021, shows that the total resource volume reached 401 million tons, with an average grade of 1.63% lithium oxide, equivalent to 16.32 million tons of lithium carbonate (LCE) equivalent.
The Manono Lithium Mine is 100% owned by Dr. Dathcom, a company in the Democratic Republic of the Congo. Dathcom is a joint venture established in 2016, and after the signing of a number of supplementary agreements, in 2017 AVZ International Australia, the Democratic Republic of the Congo (COMINIERE) and Dathomir Mining Resources SARL held 60%, 25% and 15% of the shares respectively.
Since 2014, Zijin Mining has invested in the world-class Kamoa copper mine project and the Kolwezi copper and cobalt project, cement and limestone industry extension project in the Dr. Republic of the Congo (DRC), which has played an important role in increasing income and poverty alleviation in the DRC (DRC), and has been highly recognized by the DRC government and local communities. In view of Zijin Mining's outstanding performance in the construction and operation of the Dr. Republic of the Congo (DRC) project, the DRC state-owned mining company has stepped up its cooperation with Zijin Mining, and through negotiations from July to September 2021, the state-owned enterprise COMEIERE agreed to transfer its 15% equity interest in Dathcom and sign an agreement, so that Jincheng Mining, a subsidiary of Zijin Mining, obtained a 15% interest in the Manono lithium mine project; at the same time, the two parties established a joint venture to establish Catamba Mining Company. Jointly developed two greenfield exploration and mining rights of PE12453 and PE13427 outside the Manono lithium mine.
Zijin Mining's investment representative said that the acquisition of a 15% interest in Zijin Mining Manono Lithium Mine can be described as a twist and turn. In September 2021, under the premise of the approval of the Ministry of State-owned Assets Supervision and Administration of the Democratic Republic of the Congo (DRC), COMINIERE signed the Equity Transfer Agreement with Zijin Mining under the condition of complying with the provisions of the pre-emptive right, and Jincheng Mining, a subsidiary of Zijin Mining, acquired its 15% equity interest in the Manono lithium mine project. The transaction was blocked by AVZ, the other party refused to convene a board of directors, shareholders' meeting, and twice filed a lawsuit with the court, forcing the transaction to move forward to judicial proceedings; in November 2021, the Commercial Court of Ruben and Brazil of the Democratic Republic of the Congo (DRC) rejected AVZ's application and presided over a general meeting of shareholders to approve the transfer of 15% of the equity of JINCHENG MINING, jincheng Mining became a legal shareholder holding 15% of the equity of Dathcom, and completed the relevant commercial registration and change of movable property registration number (RCCM). Since then, AVZ has further objected and obstructed through multiple channels, and in January 2022, the Commercial Court of Ruben Brazil once again rejected AVZ's claim to revoke the relevant shareholders' resolution and the changed RCCM.
The relevant person in charge of Zijin Mining said that Zijin Mining, as a responsible mining company, has a successful and rich experience in operation and management in the Democratic Republic of the Congo (DRC) in Africa, and the addition of Zijin Mining is undoubtedly helpful to accelerate the development of Manono lithium mine, and hopes that all shareholders will strengthen communication and cooperation, abandon meaningless disputes, accelerate project construction, and make due contributions to the economic and social development of the DRC (DRC) and the value improvement of investors.
IN RESPONSE TO THE RECENT ANNOUNCEMENT OF AVZ COMPANY THAT JINCHENG MINING'S TRANSFER OF SYNERGE EQUITY WAS INVALID, THE INVESTMENT REPRESENTATIVE OF ZIJIN MINING REFUTED THAT ZIJIN MINING HAD FULFILLED THE CORRESPONDING PROCEDURES IN STRICT ACCORDANCE WITH THE PROVISIONS OF THE COMPANY'S ARTICLES OF ASSOCIATION IN THE PROCESS OF EQUITY TRANSFER, AND ACTIVELY COMPLIED WITH JUDICIAL PROCEDURES UNDER THE PREMISE OF THE OTHER PARTY'S OBSTRUCTION AND SOLVED THE PROBLEM THROUGH LITIGATION. IN THE FUTURE, THE COMPANY WILL ACTIVELY SAFEGUARD ITS OWN RIGHTS AND INTERESTS AND USE LITIGATION, ARBITRATION AND OTHER MEANS TO SOLVE FOLLOW-UP PROBLEMS.
It is reported that the transfer of 15% of the shares of Dathomir and AVZ company in Dathomir company due to major flaws in the original transaction process, after the application of Dathomir company (Dathomir), the court ruled that the transaction has been terminated, and Dathomir company (Dathomir) still legally holds 15% of the shares of Dathcom.
COMINIERE said that the transfer of 15% of the shares of Dathcom between Zijin Mining and COMINIERE is reasonable, legal and compliant, and Zijin Mining is the legal shareholder holding 15% of the shares of Dathcom; COMINIERE still holds 10% of the shares of Dathcom after the completion of the transfer of shares with Zijin Mining. AVZ's transfer of 24% of The shares of Dathcom is subject to legal formalities, and if the transfer is successful, AVZ's actual shareholding in Dathcom will drop to 36%, and there is no absolute control.
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Highlighted red, it is a fake article as that 24% goes to CATH not Dathcom? They cant even understand the article they are referencing as it directly states that?? haha
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it is just the translation.
