AVZ Discussion 2022

It's been a long road to get here so here is a recap of how we arrived at this point for those unsure of the facts of the case

It all started back on October 2 2019 when AVZ approached the former MoP (not the green lady) about his opinion on us purchasing the 15% of Dathcom from Cominiere. Note this offer was made before the DFS so the market value was unknown at the time.

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This was his response on February 18 2020. Note his reference to the DFS being completed before the sale and the DRC government's intent to hold a working session to determine this matter.

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Fast forward to July 21 2021 and AVZ are contacted by Cominiere about giving an opinion on an offer they have received from Zijin for the 15%. They also ask us for an advance on dividends which can only be described as batshit insane. Crucially no price for the proposed acquisition is given by Cominiere despite market value now being known from the DFS which was released in April 2020.

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Here is AVZ's response through our lawyers on August 4th 2021 to Cominiere's request for an opinion on Zijin buying 15% of Dathcom. Note the reference to the MoP letter from February 2020. Crucially this was sent to Cominiere within the 40 day window outlined in Article 9.1 (b) of the Dathcom JVA. Cominiere never responded to this letter.

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After the 40 days expired the purported acquisition by Jin Cheng was approved and registered in the RCCM. AVZ was never given the opportunity to execute it's pre-emptive right. AVZ submitted its offer to the DRC government for the 15% after the 40 days had expired. This was done at the market value established in the DFS.

Finally in mid 2022 the DRC's financial watchdog completed its investigation into the purported sale. This was released to the public in December 2022. The findings were damning for Zijin, Cominiere and the new MoP. Most egregious was the price of 33.4m USD which was below the market value established in the DFS which resulted in a loss of revenue for the DRC of 120.7m USD. in early 2023 an audio was released of Zijin and CKK discussing extra personal payments to facilitate this sale.

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Patriotism 101 is don't rat fuck your own people by taking a bribe from foreigners for personal gain. This is also being considered by the ICC as the original hearing in July was pushed back to this week so Zijin could have time to respond to AVZ allegations in court that the purported sale from Cominiere to Zijin was also tainted by corruption.

I'm no big city fancy lawyer but my opinion is that Zijin are completely fucked
I’ve explained this numerous times. The post I have replied to spells it out in detail. I know you understand what happened so stop with your games.
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Frank

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Bin59

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The latest Tender notice 29/08/24

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Company MANONO LITHIUM SAS: Construction work on industrial exploitation and concentration sites
Published on Thu, 29/08/2024 - 11:23 | Modified on Thu, 29/08/2024 - 11:23

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采选工业场地建筑工程施工标公告
Tender Notice - Construction work on industrial operating and concentration sites
 
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Flight996

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Company MANONO LITHIUM SAS: Construction work on industrial exploitation and concentration sites
Published on Thu, 29/08/2024 - 11:23 | Modified on Thu, 29/08/2024 - 11:23

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I mean der, how much more time does the ICC need to understand that the DRC and its agencies, particularly Cominiere have no intention whatsoever of complying with any arbiter's resolutions or orders.

In conjunction with the corrupt DRC govt and its equally corrupt agencies, Zijin Mining continues to press ahead with with immunity in constructing a mine on stolen ground right under the noses of both the ICC and ICSID.

It is well past time for the arbiters to award AVZ the already established penalties against the DRC for non-compliance with its interim orders, which today (1 Sept 2024) stand at approximately AU$120 million.

Happy fathers day.

F
 
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Bin59

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View attachment 68782

I mean der, how much more time does the ICC need to understand that the DRC and its agencies, particularly Cominiere have no intention whatsoever of ever complying with any arbiter's resolutions or orders.

In conjunction with the corrupt DRC govt and its equally corrupt agencies, Zijin Mining continues to press ahead with with imunity in constructing a mine on stolen ground right under the noses of both the ICC and ICSID.

It is well past time for the arbiters to award AVZ the already established penalties against the DRC for non-compliance with interim orders, which today (1 Sept 2024) stand at approximately AU$120 million.

Happy fathers day.

F
Agree 💯 Flight

Happy Father’s Day 🙂
 
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Frank

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Pokok

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Thank you too all for the fathers day wishes I had no idea I had so many kids , hopefully i'm not here typing next fathers day
 
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Dazmac66

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View attachment 68782

I mean der, how much more time does the ICC need to understand that the DRC and its agencies, particularly Cominiere have no intention whatsoever of complying with any arbiter's resolutions or orders.

In conjunction with the corrupt DRC govt and its equally corrupt agencies, Zijin Mining continues to press ahead with with immunity in constructing a mine on stolen ground right under the noses of both the ICC and ICSID.

It is well past time for the arbiters to award AVZ the already established penalties against the DRC for non-compliance with its interim orders, which today (1 Sept 2024) stand at approximately AU$120 million.

Happy fathers day.

F

I have been trying work out why Zijin is displaying blatant disregard for the ICC,ICSID interim orders. Why? Because they can produce JV documents that say they are majority owners of CDL! Zijin will have no liability. The stupid f$cks in the DRC will get sued for billions by Zijin for breach of contract for unlawfully selling what belongs to AVZ.
 
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Dazmac66

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Not sure what I did above so repost here!

I have been trying work out why Zijin is displaying blatant disregard for the ICC,ICSID interim orders. Why? Because they can produce JV documents that say they are majority owners of CDL! Zijin will have no liability. The stupid f$cks in the DRC will get sued for billions by Zijin for breach of contract for unlawfully selling what belongs to AVZ.
 
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Mr_Tones83

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Not sure what I did above so repost here!

I have been trying work out why Zijin is displaying blatant disregard for the ICC,ICSID interim orders. Why? Because they can produce JV documents that say they are majority owners of CDL! Zijin will have no liability. The stupid f$cks in the DRC will get sued for billions by Zijin for breach of contract for unlawfully selling what belongs to AVZ.
Funnily enough Zijin have publicly stated that they had done their due diligence on Cominiere and Manono. So there may be potential to have a case of them attempting to sue thrown out on this admission.
If they did DD as they claimed, they would certainly have known about the RoFR that AVZ had over Cominiere's shareholding in the Dathcom JV.


"Jin Cheng Mining conducted the required due diligence on the seller (Cominiere) and the asset.

As a globally responsible mining company, Zijin Mining affirms that it has diligently complied with all legal and regulatory requirements throughout the processes outlined in the article."
 
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Wir die Aktionäre werden Siegen.
 

BEISHA

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Flight996

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Mate, the DRC will be left holding the bag for sure.

By the time the music stops Zijin will have its mine operational and exporting, and all the arbitral penalties will fall to King Felix-the-corrupt and his equally corrupt minions.

Cheers
F
 
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ptlas

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Not sure what I did above so repost here!

I have been trying work out why Zijin is displaying blatant disregard for the ICC,ICSID interim orders. Why? Because they can produce JV documents that say they are majority owners of CDL! Zijin will have no liability. The stupid f$cks in the DRC will get sued for billions by Zijin for breach of contract for unlawfully selling what belongs to AVZ.
No
The DRC state will be sued for billions.
Eventually. Probably.
The guilty political actors will be long gone, living in Saudi, Belgium, China or some tin pot dictatorship prepared to take their $$.
Their money will be hidden in shell companies and nominee accounts etc.
Ask yourself how many of these political criminals,around the world, are ever held to account ?
Maybe, like only some of the Russian oligarchs, half of their assets are frozen.
In which case they will need to survive on $1m per week.
 
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Flight996

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Re: The stupid f$cks in the DRC will get sued for billions by Zijin for breach of contract for unlawfully selling what belongs to AVZ.

Haha, just imagine the shit-fight if that happens.

A prisoners' dilemma for sure. Whoever blinks first and spills the beans will surely open a Pandara's box of bribery and corruption stretching all the way to King Felix-the-corrupt himself.

The US-Russian nuclear stand-off, mutually assured destruction (MAD) will be just a hiccup compared to the mushroom cloud over Manono if Zijin and the DRC eventually fall out and lock horns.

Cheers
F

Show Down Clint Eastwood GIF
 
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Frank

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Birdman7

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Once again, an article totally relevant to AVZ and its super strategic deposit and not a word about it.

Anyone else feeling totally invisible and alone in this battle 😞


 
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