AVZ Discussion 2022
- Thread starter GazDix
- Start date
A bit of common sense from sf120 on HCto start the day!
zinjin - "We cannot speculate as to what legal issues will arise in the future, but will defend the new JV so that work on the northern tenement may continue for the benefit of the DRC and its local communities," she said.
They know they are f**d
ICC proves all, the fact Zinjin moved out of PR13359 tells you they lost.
If they lost then the JV is valid
If the JV is valid then Commiere could not dissolve Dathcom without ICC
If dathcom is not dissolved then there is only one PR and the northern tenement stays as one.
Work backwards from ICC and its clear that this is the only story that matters.
zinjin - "We cannot speculate as to what legal issues will arise in the future, but will defend the new JV so that work on the northern tenement may continue for the benefit of the DRC and its local communities," she said.
They know they are f**d
ICC proves all, the fact Zinjin moved out of PR13359 tells you they lost.
If they lost then the JV is valid
If the JV is valid then Commiere could not dissolve Dathcom without ICC
If dathcom is not dissolved then there is only one PR and the northern tenement stays as one.
Work backwards from ICC and its clear that this is the only story that matters.
Bin59
Regular
La RDC confie au chinois Zijin le développement d’un projet de lithium revendiqué par la société australienne AVZ
Le projet Manono est au cœur d’une bataille judiciaire entre l’australien AVZ qui revendique 75 % d’intérêts dans l’actif et Cominière qui
The DRC entrusts the Chinese Zijin with the development of a lithium project claimed by the Australian company AVZ
- Creation date: October 24, 2023 17:49
The Chinese company Zijin Mining announced on Monday, October 23 that its joint venture with the Congolese company Cominière has obtained the rights to develop a lithium project northeast of Manono. This project concerns an area still claimed by the Australian company AVZ Minerals, which has filed a legal action against Cominière.
According to the details published on Monday by Zijin, an exploration license (PR 15775) was granted by the Congolese Ministry of Mines to Manono Lithium SAS, the joint venture between its subsidiary Jinxiang Lithium (which holds 61% interest there) and Cominière.
The agreement between the two parties stipulates that the subsidiary of the Chinese company will lead the exploration, construction and operation of the project and will also be responsible for mobilizing funds to finance the work. Regarding the development schedule, Zijin intends to carry out a feasibility study as soon as possible and then complete the construction of the mine within two years after the feasibility study and obtaining the funds.
"Following a decision by the judicial authority in the DRC and the approvals of the Congolese government, the 100% interest held in the exploration license of the Manono lithium mine (PR 13359) was returned and registered in the name of Cominière. Subsequently, Cominière formally invited the company [Zijin, editor's note] to jointly explore and develop the northeastern part with the exploration license PR 13359[corresponding to the current exploration license PR 15775], "reads the press release published by the company.
It should be noted that the exploration permit PR 13359 mentioned in this statement was previously held by Dathcom, the joint venture between AVZ Minerals and Cominière. The Congolese party obtained an order from the court that granted it 100% interest in permit 13359, which transfer of ownership nevertheless remains contested by AVZ.
"The order was based on the erroneous premise that the Dathcom joint venture agreement had been validly terminated, which was not the case. In addition, Cominière's request for an order had no appropriate legal basis, because there was no legal basis for depriving Dathcom of PR13359 even if the Dathcom joint venture had been terminated, "says the Australian company in a statement dated October 9.
Pending the next developments concerning this case, it is important to note that the Chinese Zijin Mining, Cominière's new partner in Manono, is already engaged in mining in the DRC, especially on the Kamoa-Kakula copper mine (in partnership with Ivanhoe Mines) where 390,000 tons of red metal are expected this year.
Her interest in Congolese lithium dates back to early 2022 when she announced the acquisition of two mining permits near the Manono project of the Australian AVZ Minerals. Its announced objective, also supported by other transactions on lithium outside Africa, was then to identify exploitable resources "in order to improve [its] competitiveness in new energy minerals".
The DRC still does not produce lithium
Manono's lithium deposit is one of the largest untapped lithium reserves in the world. It houses at least 400 million tons of mineral resources titillating 1.65% lithium, according to an estimate by AVZ. Its development should make the DRC a major producer of lithium, strengthening the country's position as a supplier of minerals essential to the energy transition.
When in May 2022, AVZ announced the signing by the then Minister of Mines (Antoinette N'Samba Kalambayi) of a decree to grant an operating permit to the mining company, all the lights seemed to be green. More than a year after this release, the DRC has not made much progress on its way to lithium exploitation, whose global demand is expected to reach nearly 2 million tons in 2030, of which 79% would come from the automotive sector, according to Cochilco.
Louis-Nino Kansoun
BRICK
Where’s Zeebot 😶🌫️
Actually Jazzy, i think his grammer in the email from AVZ is pretty poor. So im still sus on him.
Xerof
Flaming 1967
I now see that Tolate is temporarily suspended on HC, so my logic based on him being Math, being in DRC and having his cover blown might be misguided.
Despite that, he/both are cunts, whichever
Why? Could of asked to be suspended while he’s away
BRICK
Where’s Zeebot 😶🌫️
Draw the bluff to get the outcome you ultimately want?
Confuse from the bottom up where its easier to create confusion and hope that by the time the bluff reaches the top, they think it must be whats happening.
isnt that what we do here with project feasabilties that ultimatley blow out?
I still cant believe the way cuntiniere behave on twitter if its a legit account.
the only other dude that behaves like that is Elon Musk!
rocknrolla
Regular
Voted as per DEBOSS recs, still struggle with rec 1 but if all the positive innuendo is to be believed they will have earnt it. Truth is none of us KNOW anything really, we just hope. Here's to hoping good news is coming our way.
I've looked into what is required to make a complaint about a CA.
They don't take anonymous complaints (which is fair enough).
However, there is a review process that may require a face to face meeting
Whilst, i do believe that Michael is taking money under the table, i don't have any substantial evidence (besides those photos of him in DRC, AVZ Announcements) and hearsay evidence of conversations with him. I think the complaints with be 'vexatious'. Anyone who has first hand evidence is more than welcome to lodge a formal complaint with CA on his conduct.
They don't take anonymous complaints (which is fair enough).
However, there is a review process that may require a face to face meeting
Whilst, i do believe that Michael is taking money under the table, i don't have any substantial evidence (besides those photos of him in DRC, AVZ Announcements) and hearsay evidence of conversations with him. I think the complaints with be 'vexatious'. Anyone who has first hand evidence is more than welcome to lodge a formal complaint with CA on his conduct.
Retrobyte
Hates a beer
If I were a senior exec spending 200+ days a year away from home in developing countries busting my arse against corrupt pricks to get a massive deal done for the biggest lithium mine on the planet I'd expect a bonus no questions asked.
I kind of think they get paid extremely well as it is and they have an enormous amount of performance shares already, aka nigel at 50m odd. In other words they should be highly motivated as it is to see this done, its their job to get this done and it would be a small concession to forgo additional bonuses until they get the fucking job done.
I voted against the scum mmga but abstained from #1 to register a small protest.
Azzler
Top 20
FYI post regarding AVZ shares held in super.
I also hold a very small number of AVZ shares in HostPlus super under their ChoicePlus service.
I contacted them today and was informed I do not have voting rights to these shares as HostPlus is the legal owner.
Unfortunate but as I said it's not many shares anyway.
It isn't a SMSF though and I believe you do have rights to vote if that is the case.
If someone has already done this with their SMSF, perhaps you could share the process with us.
Thanks.
I also hold a very small number of AVZ shares in HostPlus super under their ChoicePlus service.
I contacted them today and was informed I do not have voting rights to these shares as HostPlus is the legal owner.
Unfortunate but as I said it's not many shares anyway.
It isn't a SMSF though and I believe you do have rights to vote if that is the case.
If someone has already done this with their SMSF, perhaps you could share the process with us.
Thanks.
I would assume that if you own the shares directly through the SMSF (i.e. not through a managed portfolio) - then the process should be the same as though you hold the shares personally.
Of importance to note, is that if your superannuation fund is a retail / industry fund that you are able to provide instructions to the trustee on how to investment, this is not a self-managed superannuation fund.
Of importance to note, is that if your superannuation fund is a retail / industry fund that you are able to provide instructions to the trustee on how to investment, this is not a self-managed superannuation fund.
TheCount
Regular
Just finished my SMSF voting - the process is no different to my Pty Ltd voting.
Setup the Fund in Automic and after that everything is the same. I setup Automic a few years ago so I don't recall if that process was any different - my head says "no"..
I am the Trustee of the SMSF so have complete control over voting.
TC.
Fair enough, just putting it out there for review.
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