AVZ Discussion 2022
- Thread starter GazDix
- Start date
TDITD
Top 20
AJN with an AVZ favourite Klaus Eckhof seem to have favour with those high up in the mining scene still in DRC, I would have thought he was tarred with the Kabila brush an shunned, obviously not so.
Interestingly only as recently as may 8th a certain Mr. Nigel Fergerson resigned as a director at AJN.
IMO these talks with AJN have obviously been going on for quite some time this is no small arrangement they have, Nigel quitting as director to not have any conflict of interests as they want AVZ as major holder in Manono.
This is another reason that imo strengthens my resolve that AVZ will come out of this as the controlling holding in Dathcom
Interestingly only as recently as may 8th a certain Mr. Nigel Fergerson resigned as a director at AJN.
IMO these talks with AJN have obviously been going on for quite some time this is no small arrangement they have, Nigel quitting as director to not have any conflict of interests as they want AVZ as major holder in Manono.
This is another reason that imo strengthens my resolve that AVZ will come out of this as the controlling holding in Dathcom
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Sammy_da_Smile
Regular
Right ok thanks mate, so as that area is still within the 'blue' lined area it's all good. The 'blank' didn't really line up to anything I could see in the key hence my question.
Cheers
Xerof
Is There Anybody Out There 1979
Yeah, the Cadastre folks don't seem to bother too much. It's never timely, and usually incomplete. I guess they don't have a category to cover the transitional period, but remember the last update was approval of PE (ML) and now we just await the update of the PE and PR split for 13359.
I think @MDRY meant one fruit basket for Franck and one for Jens
investinvest
Regular
Google Translate:
Article 765:
Article 765 : Actualités du droit OHADA
Legislation - Articles 748 a 778 15 valeurs mobilieres et autres titres emis par les societes anonymes dispositions relatives aux actions - Article 765 - Toute l'information juridique en droit OHADA.
"Notwithstanding the principle of free transferability set out in Article 764 above, the articles of association or agreements mentioned in Article 2-1 above may stipulate certain limitations to the transfer of shares under the conditions provided for in Articles 765- 1 to 771-3 below. Limitations on the transmission of shares cannot operate in the event of succession, liquidation of community of property between spouses, or transfer either to a spouse or to an ascendant or a descendant."
Article 765-1:
Article 765-1 : Actualités du droit OHADA
Legislation - Articles 748 a 778 15 valeurs mobilieres et autres titres emis par les societes anonymes dispositions relatives aux actions - Article 765-1 - Toute l'information juridique en droit OHADA.
"The inalienability clauses affecting shares are only valid if they provide for a prohibition of a period less than or equal to ten (10) years and if they are justified by a serious and legitimate reason."
Article 771-2:
Article 771-2 : Actualités du droit OHADA
Legislation - Articles 748 a 778 15 valeurs mobilieres et autres titres emis par les societes anonymes dispositions relatives aux actions - Article 771-2 - Toute l'information juridique en droit OHADA.
"It may be stipulated in the articles of association or the agreements of article 2-1 above that the shareholder who intends to transfer all or part of his shares is required to notify one or more other shareholders, who may inform the assignor that they exercise a right of pre-emption at the prices and conditions which have been notified to it."
Article 771-3:
Article 771-3 : Actualités du droit OHADA
Legislation - Articles 748 a 778 15 valeurs mobilieres et autres titres emis par les societes anonymes dispositions relatives aux actions - Article 771-3 - Toute l'information juridique en droit OHADA.
"In the event that a pre-emption clause is stipulated in the articles of association, any transfer of shares carried out in violation of the pre-emption right is void.
In the event that a preemption clause is stipulated in the agreements of article 2-1 above, any transfer of shares carried out in violation of the right of preemption is void when it is demonstrated that one of the beneficiaries was aware of it or could not be unaware of its existence."
Conclusion:
COMINIERE violated Article 773-1 of the OHADA corporate law when it sold 15% of Dathcom to Jin Cheng. This sale was void by corporate law because AVZ was aware of its pre-emptive right to purchase the 15% from COMINIERE.
DYOR. IMO
Google Translate:
Article 765:
Article 765 : Actualités du droit OHADA
Legislation - Articles 748 a 778 15 valeurs mobilieres et autres titres emis par les societes anonymes dispositions relatives aux actions - Article 765 - Toute l'information juridique en droit OHADA.www.actualitesdroitohada.com
"Notwithstanding the principle of free transferability set out in Article 764 above, the articles of association or agreements mentioned in Article 2-1 above may stipulate certain limitations to the transfer of shares under the conditions provided for in Articles 765- 1 to 771-3 below. Limitations on the transmission of shares cannot operate in the event of succession, liquidation of community of property between spouses, or transfer either to a spouse or to an ascendant or a descendant."
Article 765-1:
Article 765-1 : Actualités du droit OHADA
Legislation - Articles 748 a 778 15 valeurs mobilieres et autres titres emis par les societes anonymes dispositions relatives aux actions - Article 765-1 - Toute l'information juridique en droit OHADA.www.actualitesdroitohada.com
"The inalienability clauses affecting shares are only valid if they provide for a prohibition of a period less than or equal to ten (10) years and if they are justified by a serious and legitimate reason."
Article 771-2:
Article 771-2 : Actualités du droit OHADA
Legislation - Articles 748 a 778 15 valeurs mobilieres et autres titres emis par les societes anonymes dispositions relatives aux actions - Article 771-2 - Toute l'information juridique en droit OHADA.www.actualitesdroitohada.com
"It may be stipulated in the articles of association or the agreements of article 2-1 above that the shareholder who intends to transfer all or part of his shares is required to notify one or more other shareholders, who may inform the assignor that they exercise a right of pre-emption at the prices and conditions which have been notified to it."
Article 771-3:
Article 771-3 : Actualités du droit OHADA
Legislation - Articles 748 a 778 15 valeurs mobilieres et autres titres emis par les societes anonymes dispositions relatives aux actions - Article 771-3 - Toute l'information juridique en droit OHADA.www.actualitesdroitohada.com
"In the event that a pre-emption clause is stipulated in the articles of association, any transfer of shares carried out in violation of the pre-emption right is void.
In the event that a preemption clause is stipulated in the agreements of article 2-1 above, any transfer of shares carried out in violation of the right of preemption is void when it is demonstrated that one of the beneficiaries was aware of it or could not be unaware of its existence."
Conclusion:
COMINIERE violated Article 773-1 of the OHADA corporate law when it sold 15% of Dathcom to Jin Cheng. This sale was void by corporate law because AVZ was aware of its pre-emptive right to purchase the 15% from COMINIERE.
DYOR. IMO
Great post
cheers
TDITD
Top 20
Ooops
. I thought he meant to send to Zijin.
those men NEED alcohol after dealing with such trolls.
TDITD
Top 20
Google Translate:
Article 765:
Article 765 : Actualités du droit OHADA
Legislation - Articles 748 a 778 15 valeurs mobilieres et autres titres emis par les societes anonymes dispositions relatives aux actions - Article 765 - Toute l'information juridique en droit OHADA.
"Notwithstanding the principle of free transferability set out in Article 764 above, the articles of association or agreements mentioned in Article 2-1 above may stipulate certain limitations to the transfer of shares under the conditions provided for in Articles 765- 1 to 771-3 below. Limitations on the transmission of shares cannot operate in the event of succession, liquidation of community of property between spouses, or transfer either to a spouse or to an ascendant or a descendant."
Article 765-1:
Article 765-1 : Actualités du droit OHADA
Legislation - Articles 748 a 778 15 valeurs mobilieres et autres titres emis par les societes anonymes dispositions relatives aux actions - Article 765-1 - Toute l'information juridique en droit OHADA.
"The inalienability clauses affecting shares are only valid if they provide for a prohibition of a period less than or equal to ten (10) years and if they are justified by a serious and legitimate reason."
Article 771-2:
Article 771-2 : Actualités du droit OHADA
Legislation - Articles 748 a 778 15 valeurs mobilieres et autres titres emis par les societes anonymes dispositions relatives aux actions - Article 771-2 - Toute l'information juridique en droit OHADA.
"It may be stipulated in the articles of association or the agreements of article 2-1 above that the shareholder who intends to transfer all or part of his shares is required to notify one or more other shareholders, who may inform the assignor that they exercise a right of pre-emption at the prices and conditions which have been notified to it."
Article 771-3:
Article 771-3 : Actualités du droit OHADA
Legislation - Articles 748 a 778 15 valeurs mobilieres et autres titres emis par les societes anonymes dispositions relatives aux actions - Article 771-3 - Toute l'information juridique en droit OHADA.
"In the event that a pre-emption clause is stipulated in the articles of association, any transfer of shares carried out in violation of the pre-emption right is void.
In the event that a preemption clause is stipulated in the agreements of article 2-1 above, any transfer of shares carried out in violation of the right of preemption is void when it is demonstrated that one of the beneficiaries was aware of it or could not be unaware of its existence."
Conclusion:
COMINIERE violated Article 773-1 of the OHADA corporate law when it sold 15% of Dathcom to Jin Cheng. This sale was void by corporate law because AVZ was aware of its pre-emptive right to purchase the 15% from COMINIERE.
DYOR. IMO
Great post. Looks like its pretty water tight no wonder Nigel has been so confident in interviews and announcements.
Roller62
Regular
The blank bit should in reality still be part of Tenement 13359. When the Mining Licence application was made it applied to all of 13359. You can't apply just for a section of it.
If you have a look at the original 13359 it covers a much larger area than it does now. It used to cover all the area inside the 100% AVZ extensions. The ML should also cover all of this area.
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Sammy_da_Smile
Regular
Hey Roller, yes that was my thoughts comparing the two. Hopefully it is just a transition process being done in the background, much like when all the data was blanked a few weeks ago. The area seems still contained on the blue box, though not shaded atm.
Xerof
Is There Anybody Out There 1979
I agree it's all part of 13359, but ...... from May 4th Decree announcement
DRC Mining Code requires the Cadastre Minier (CAMI), operating under the supervision of the Minister of Mines, to calculate the surface rights fee and officially award the Mining Licence following the receipt of payment
• The Ministerial Decree to award the Mining Licence covers the entirety of the Roche Dure JORC Mineral Resource and Reserve 2&3 and the Carriere de l’Este exploration target 4 (this is the shaded bit)
• An area which was excluded under the Ministerial Decree to award the Mining Licence, will be renewed under a 5-year Exploration Licence to Dathcom, with discussions regarding the terms of the ongoing joint venture under discussion with the DRC Government (this is the blankety blank bit to the north)
Clearly, they applied for it all, but the MofM decreed it as described above
I'm not going to repeat this any more, it should be crystal clear
DiscoDanNZ
Regular
Expecting it will be extended again as I don't think there's any chance of that deal going through for the full 24% while any of this Zijin crap is going on. At this stage though I wouldn't even mind if we scrapped it and found a new partner at a higher price.
BRICK
Where’s Zeebot 😶🌫️
Maybe some crackin' SA wine too
"Clearly, they applied for it all, but the MofM decreed it as described above
I'm not going to repeat this any more, it should be crystal clear"
BRICK
Where’s Zeebot 😶🌫️
Id suggest some cheeses but my doctor has put a stop to that because of my cholesterol level! Damned middle age!Maybe some crackin' SA wine too
Roller62
Regular
I know all that however this is illegal. The DRC mining law says the ML covers the entire Tenement. The Tenement 13359 was shrunk - how was it shrunk when AVZ met all requirements under the DRC mining code? You can be quiet and ignore it however it exists!
Ever wonder what the suspension is about - about the ML and exploration. AHHHHHHHHH
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