AVZ Discussion 2022

[CeckRaiseFold]

For Nige position to remain tenable, and i sincerely hope it does, he needs to be laser focused 100% on AVZ.

Associations with the likes of Klaus, Mark Gasson, Peter Huljich and Simon Cong need to be publicly severed. I even think Rhett Brans has some relationships with that cohort external to AVZ and that needs to be identifed and cleared up too. I also note that Jag Sandou was original chairman of AJN. AVZ paid Sandou Capital a large fee and millions of shares to achieve nothing back in about 2018 from memory. Has me now wondering if any of this funding was used to establish AJN to list on the CSE on 12 June 2018?

Klaus joined Tantalex TTX as a Director on 31 Jan 2022. TTX own the Manono tailings in JV:
TTX 53%
Minocom 18%
Comminiere 30%

Klaus is Chairman of Amani Gold ANL. ANL own a suite of Gold PR's in DRC.
P Huljich is a Director of ANL
Simon Cong was a Director of ANL until 11 March 2022 and remains a major shareholder

Klaus is Chairman of AJN Resources. Mark Gasson is Director and CFO. Nige was Director until resigned 8 May2022 (remains significant shareholder >10%)
8 Feb 2022 AJN announced that the previous Sokimo JV would be replaced with a new JV with the DRC Govt known as Congo Resources SAU. JV will be 60% DRC Govt and 40% AJN. JV will acquire number of Gold PR's in Kilo Moto Gold Belt
19 April 2022 AJN announced formal signing of JV MoU with DRC Govt for Congo Resources SAU. Prospective Gold tenements in Kilo Moto belt and prospective Lithium tenements in the Manono area will be transferred into Congo Resources SAU.
8 May 2022 Nigel resigns from AJN BoD
9 May 2022 AVZ Trading Halt
11 May 2022 AVZ Suspension
1 Nov 2022 AJN announces Manono Nothern portion of PR13359 to be transferred smoothly into Congo Resources over coming weeks
6 Nov 2022 AVZ still in suspension and for how much longer ....hmmmmm?

So these are some of the facts that need further explanation from Nige. It would seem that Nige as a Director of AJN was aware of AJN plans since at least 8 Feb 2022 and confirmation that Manono was being pursued was confirmed on 19 April.

Conflict of Interest much????

All imo and im working on other corporate governance issues.

Bad optics I agree.

Somebody here said they were doubtful NF was fit to do business in Africa. What would being successful doing business there look like? More brown paper bags? That is just not an option for an Australian company now.

But I'm realistic enough that we need to be creative and patient to achieve results.

However, having worked in West Africa myself, I can think of a number of ways to legally acquire and progress resource projects in this environment. It ranges from small things like being a top sponsor to next year's industry event to progressing early works through government and regulator approved agencies and contractors, perhaps at slightly inflated prices (that's why i posted a few days earlier it can be counter productive to ask for too much detail of where the early works money was spent on). All traceable and all above board, but requires creativity and connections, not just filling in a form and waiting for the'official'process to unfold.
Maybe we even had to go all the way to negotiating a complex compromise arrangement that involves an old mate who runs AJN as an intermediary to temporary "look after" parts of the original concession area before they sell it on and in that process everybody becomes happy.

I'm of course just speculating here, but there might be more going on than meets the eye. Enemies can become friends in disguise in this opaque negotiation environment. But IMO, AVZ will have to compromise until everyone has something they can walk away with. Waiting for a heavy handed approach from the president is not realistic, not after so long. FT might well require some of these shady characters for other, much more important things to him, like winning another election.

until we have an official announcement, we just do not know.


Oh yeah, disclosure, I bought 9000 AJN shares the other day for grins.

 

[Chilla]

Nigel has to come clean about his friendship with the German c--t . Klaus on record in the recent video saying ,"The licences (nth CDL) were withdrawn from AVZ in March/April right at the start . Why I don't know exactly ." In light of this all happening after the Perth RS I'm guessing it's rattled Nige somewhat . At least if we had the ML for Roche Dure in place before Klaus opened his fat trap Nige could have claimed a victory . Share holders satisfied . He needs to put this issue to rest very quickly . I'm guessing he had to at the NZ RS , but our NZ buddies haven't leaked anything on social media it would seem . Lets see what tomorrow brings . Will it be a different Nige from the Perth RS Nige ? Unlike NZ the East Coast RS will leak like a sieve .

Hmm more explanation needed here too:

Nige goes to Germany and meets with Axino Capital mid April 2022 (Nige is managing director of AVZ and also a director of AJN at the time)

Klaus goes to Germany and meets with Axino Capital end of October 2022 and says AVZ gave up half of Manono in mid April and we will have the Manono tenements smoothly transferred into our JV with the DRC that we have been working on with them since 6 Feb 2020....but the JV changed on 8 Feb 2022 and we included a Lithium Project in Manono into the JV on 19 April 2022 and we will get that smoothly transferred into the JV during Nov 2022.

Hello.......WTF is going on here???

 

[Chilla]

Bad optics I agree.

Somebody here said they were doubtful NF was fit to do business in Africa. What would being successful doing business there look like? More brown paper bags? That is just not an option for an Australian company now.

But I'm realistic enough that we need to be creative and patient to achieve results.

However, having worked in West Africa myself, I can think of a number of ways to legally acquire and progress resource projects in this environment. It ranges from small things like being a top sponsor to next year's industry event to progressing early works through government and regulator approved agencies and contractors, perhaps at slightly inflated prices (that's why i posted a few days earlier it can be counter productive to ask for too much detail of where the early works money was spent on). All traceable and all above board, but requires creativity and connections, not just filling in a form and waiting for the'official'process to unfold.
Maybe we even had to go all the way to negotiating a complex compromise arrangement that involves an old mate who runs AJN as an intermediary to temporary "look after" parts of the original concession area before they sell it on and in that process everybody becomes happy.

I'm of course just speculating here, but there might be more going on than meets the eye. Enemies can become friends in disguise in this opaque negotiation environment. But IMO, AVZ will have to compromise until everyone has something they can walk away with. Waiting for a heavy handed approach from the president is not realistic, not after so long. FT might well require some of these shady characters for other, much more important things to him, like winning another election.

until we have an official announcement, we just do not know.


Oh yeah, disclosure, I bought 9000 AJN shares the other day for grins.

Nigel doesnt have authority to negotiate away half of the companies main asset without putting it to shareholders to vote on at either the AGM or a special EGM.

 

[The Fox]

Yeah we partnered with the DRC department of petroleum and energy to investigate the refurbishment, but only through an MoU - no contract I believe was ever reached. But ever since Zijin came into play the state-owned Cominiere has been refuting the DPE's right to decude ahything to do with the plant, as they claim they 100% own it, I believe based on some allegedly pre-existing purchase contract from a few decades ago. I've never seen any response to this from the DPE, and its probably just a tactic, but it's another thing that could end up in the courts if cominiere want to press their claim over the facility. Unless DRC leadership steps in.

Looking back on the first page of this thread back in Feb 2022 is a bit freaky........sorry lads you werent even close

No kidding !!!

 

[Chilla]

Hmm more explanation needed here too:

Nige goes to Germany and meets with Axino Capital mid April 2022 (Nige is managing director of AVZ and also a director of AJN at the time)

Klaus goes to Germany and meets with Axino Capital end of October 2022 and says AVZ gave up half of Manono in mid April and we will have the Manono tenements smoothly transferred into our JV with the DRC that we have been working on with them since 6 Feb 2020....but the JV changed on 8 Feb 2022 and we included a Lithium Project in Manono into the JV on 19 April 2022 and we will get that smoothly transferred into the JV during Nov 2022.

Hello.......WTF is going on here???

Come to think of it....i never did understand the purpose of Nige's trip to Germany and meeting with Axino Capital.

Did Nige have the AVZ hat on or did he have the AJN hat on? ....was he looking for capital for AJN at the time?

Anyone any thoughts on this?

 

[DiscoDanNZ]

Nigel doesnt have authority to negotiate away half of the companies main asset without putting it to shareholders to vote on at either the AGM or a special EGM.

And I'm sure Nigel is smart enough to know this, that's what makes it all seem like another fishy DRC/ DG of CAMI dodgy snack deal.

Bad optics I agree.

Somebody here said they were doubtful NF was fit to do business in Africa. What would being successful doing business there look like? More brown paper bags? That is just not an option for an Australian company now.

But I'm realistic enough that we need to be creative and patient to achieve results.

However, having worked in West Africa myself, I can think of a number of ways to legally acquire and progress resource projects in this environment. It ranges from small things like being a top sponsor to next year's industry event to progressing early works through government and regulator approved agencies and contractors, perhaps at slightly inflated prices (that's why i posted a few days earlier it can be counter productive to ask for too much detail of where the early works money was spent on). All traceable and all above board, but requires creativity and connections, not just filling in a form and waiting for the'official'process to unfold.
Maybe we even had to go all the way to negotiating a complex compromise arrangement that involves an old mate who runs AJN as an intermediary to temporary "look after" parts of the original concession area before they sell it on and in that process everybody becomes happy.

I'm of course just speculating here, but there might be more going on than meets the eye. Enemies can become friends in disguise in this opaque negotiation environment. But IMO, AVZ will have to compromise until everyone has something they can walk away with. Waiting for a heavy handed approach from the president is not realistic, not after so long. FT might well require some of these shady characters for other, much more important things to him, like winning another election.

until we have an official announcement, we just do not know.


Oh yeah, disclosure, I bought 9000 AJN shares the other day for grins.

Anyone got an idea of how much it would cost to pool some resources and buy a decent stake of AJN? Show up to the AGM with a large chunk of AJN and see if Nige wants to pool together for a controlling stake? He is already 9.something % of the way there.

I'm sure many of us here would love to fuck over Klaus for a change.

 

[Retrobyte]

However, having worked in West Africa myself, I can think of a number of ways to legally acquire and progress resource projects in this environment. It ranges from small things like being a top sponsor to next year's industry event

We have that box ticked!

 

[CeckRaiseFold]

Nigel doesnt have authority to negotiate away half of the companies main asset without putting it to shareholders to vote on at either the AGM or a special EGM.

Australian Public company CEOs have a large amount of authority when backed by their Board who have the Shareholders delegated authority.

But it might not be presented in a way that it's AVZ suggestion or initiative. If DRC government or regulator requires or insists on a percentage relinquishment when transferring from PR to PE then this is not an A/EGM issue. It's not Dathcom/AVZ decision to make.

The value of the excluded part is also not proven, I.e not drilled and certified it can therefore not be valued and officially seen as giving half the company asset away.

In O&G that I'm familiar with, operators have to relinquish acreage knowing very well that more resources are in the original exploration permit but without drilling and proving it they cannot hang on to it.

Unfortunately past experience with Klaus makes one think that he and his DRC and Chinese backers are more likely to screw us over than 'help'. If NF only found that out in May then indeed, many many questions to answer

 

[Retrobyte]

Hmm more explanation needed here too:

Nige goes to Germany and meets with Axino Capital mid April 2022 (Nige is managing director of AVZ and also a director of AJN at the time)

Klaus goes to Germany and meets with Axino Capital end of October 2022 and says AVZ gave up half of Manono in mid April and we will have the Manono tenements smoothly transferred into our JV with the DRC that we have been working on with them since 6 Feb 2020....but the JV changed on 8 Feb 2022 and we included a Lithium Project in Manono into the JV on 19 April 2022 and we will get that smoothly transferred into the JV during Nov 2022.

Hello.......WTF is going on here???

This seems to support the wording in a recent announcement that said something along the lines of working towards a satisfactory outcome for shareholders. There is definitely some type of wheeling and dealing going on. It may not be takeover (yet) but maybe Nige and fEckoff have done a deal that works for all parties, including satiating @fatshit, Cong, and the other blokes and the lawyers we have been - paying to "negotiate" an outcome - I'm sure all of them have their hand out reaching for snacks or a brown paper bag. I also saw some disturbing commentary on socials about 3M and who he has worked for in the past - his previous (or maybe still current employer) is nicknamed "black Hitler"

 

[LEFOOL]

Looking back on the first page of this thread back in Feb 2022 is a bit freaky........sorry lads you werent even close

hey Chilla sorry i meant 21st Feb 2023......

 

[Samus]

Sounds to me like Nigel needs to dump his AJN holding similar to what Klaus did back in the day to AVZ. If it's such a low volume stock it should pretty much destroy the share price.
Perhaps I'm not understanding some complexities but why he hasn't already done it yet seems a bit suspicious.
Wipe his hands of it and relinquish those performance rights.

Starting to feel a bit suss why more of CDL wasn't drilled...

I wonder if the rest of the roadshows will be going ahead at this point.

 

[Onthefm]

And I'm sure Nigel is smart enough to know this, that's what makes it all seem like another fishy DRC/ DG of CAMI dodgy snack deal.



Anyone got an idea of how much it would cost to pool some resources and buy a decent stake of AJN? Show up to the AGM with a large chunk of AJN and see if Nige wants to pool together for a controlling stake? He is already 9.something % of the way there.

I'm sure many of us here would love to fuck over Klaus for a change.

Count me in

 

[Chilla]

Australian Public company CEOs have a large amount of authority when backed by their Board who have the Shareholders delegated authority.

But it might not be presented in a way that it's AVZ suggestion or initiative. If DRC government or regulator requires or insists on a percentage relinquishment when transferring from PR to PE then this is not an A/EGM issue. It's not Dathcom/AVZ decision to make.

The value of the excluded part is also not proven, I.e not drilled and certified it can therefore not be valued and officially seen as giving half the company asset away.

In O&G that I'm familiar with, operators have to relinquish acreage knowing very well that more resources are in the original exploration permit but without drilling and proving it they cannot hang on to it.

Unfortunately past experience with Klaus makes one think that he and his DRC and Chinese backers are more likely to screw us over than 'help'. If NF only found that out in May then indeed, many many questions to answer

I cant agree.

AVZ have stated PR13359 has a target resource of 1.5-2.0 Billion Tonnes. That means the Northern section according to AVZ has just as much resource expectation as the southern section and in their own words have announced CDL is likely a bigger pegmatite than RD. Just because they havent poked as many holes in it to define like they have RD....doesnt mean it holds less future value than RD does. Therefore it remains a significant asset of the company and the BoD are not allowed to dispose of significant assets without gaining shareholder approval to do so.

Likewise if it is illegally taken from AVZ...then the BoD have a duty to shareholders to take all legal means available to them to recover it.

Reading the AJN announcements...it would appear AJN were pursuing the Manono project at least as early between 8 Feb 2022 and 19 April 2022 if not earlier and Nige was a Director at this time.

 

[Chilla]

I cant agree.

AVZ have stated PR13359 has a target resource of 1.5-2.0 Billion Tonnes. That means the Northern section according to AVZ has just as much resource expectation as the southern section and in their own words have announced CDL is likely a bigger pegmatite than RD. Just because they havent poked as many holes in it to define like they have RD....doesnt mean it holds less future value than RD does. Therefore it remains a significant asset of the company and the BoD are not allowed to dispose of significant assets without gaining shareholder approval to do so.

Likewise if it is illegally taken from AVZ...then the BoD have a duty to shareholders to take all legal means available to them to recover it.

Reading the AJN announcements...it would appear AJN were pursuing the Manono project at least as early between 8 Feb 2022 and 19 April 2022 if not earlier and Nige was a Director at this time.

For further guidance, the 50% of PR4029 and 4030 that were relinquished is no issue because the company had not fulfilled any of the work required to maintain those permits. PR13359 is a single permit and the company and Dathomir have undertaken more work than required to maintain full title to the permit as a whole as its not multiple permits but a single permit.

 

[Nellie17]

For further guidance, the 50% of PR4029 and 4030 that were relinquished is no issue because the company had not fulfilled any of the work required to maintain those permits. PR13359 is a single permit and the company and Dathomir have undertaken more work than required to maintain full title to the permit as a whole as its not multiple permits but a single permit.

You have no idea why the Northern section of CDL was relinquished by AVZ (if it was at all), so why not wait until we are officially told. If it has been relinquished, I would be hoping there was a good reason for it to happen.
I'll be attending the RS tomorrow night in Brisbane, so hopefully I will get a few answers for myself then.
I read that you will be going to the Melbourne RS later in the week, so why not wait until then to hopefully get your answers, instead imo, of continual scaremongering.

Cheers,
Nells

 

[whales]

For further guidance, the 50% of PR4029 and 4030 that were relinquished is no issue because the company had not fulfilled any of the work required to maintain those permits. PR13359 is a single permit and the company and Dathomir have undertaken more work than required to maintain full title to the permit as a whole as its not multiple permits but a single permit.

PR13359 As a single permit.
I hope you are right and Momentum have documents to prove it.
Great question for the next Road Show.

 

[BEISHA]

Come to think of it....i never did understand the purpose of Nige's trip to Germany and meeting with Axino Capital.

Did Nige have the AVZ hat on or did he have the AJN hat on? ....was he looking for capital for AJN at the time?

Anyone any thoughts on this?

 

[whales]

PR13359 As a single permit.
I hope you are right and Momentum have documents to prove it.
Great question for the next Road Show.

Always thought that Roche Dure and CDL were separate tenements .

 

[Chilla]

You have no idea why the Northern section of CDL was relinquished by AVZ (if it was at all), so why not wait until we are officially told. If it has been relinquished, I would be hoping there was a good reason for it to happen.
I'll be attending the RS tomorrow night in Brisbane, so hopefully I will get a few answers for myself then.
I read that you will be going to the Melbourne RS later in the week, so why not wait until then to hopefully get your answers, instead imo, of continual scaremongering.

Cheers,
Nells

You have got the wrong end of the stick. I am not scaremongering at all, just posting facts. I likely hold multiple amounts of what you hold. I am not making anything up and what i have posted is from either AVZ announcements or AJN announcements or ASX Listing Requirements or AVZ's own Corporate Governance Policy. You may not like it...i actually dont like it either....but im very concerned by the AJN action this week and the fact that Nige has some level of knowledge that AVZ shareholders are currently not aware of.

 

[Chilla]

Always thought that Roche Dure and CDL were separate tenements .

Nope...just the one single tenement.