AVZ Discussion 2022

[Underwaterdark]

Can anyone break down what this actually means?


"AVZ’s securities will now continue to be suspended from quotation under Listing Rule 17.3.1, due to AVZ’s inability to
confirm compliance with Listing Rule 3.1"

"AVZ’s securities are likely to remain suspended until ASX is satisfied about AVZ’s compliance with the Listing
Rules, including Listing Rule 3.1."


3.1 = May 14 2021 Letter.

Is this all bad for us?
Or is it just like, we are still suspended but for a different reason than before?
Could it just be that ASX had no legal recourse to keep AVZ suspended, so now they have a new reason?

My take on it, for whatever its worth:
-All the noise made someone at ASX pay attention or enough rubbish from AFR etc caused someone to look harder.
-In looking, they realised that there was some questions about the suspensions they keep approving.
-ASX decides to actually ask questions that they could have been asking all along.

-Now BOD have to have a robust explanation with ASX about how sensitive the situation is, until they either:
-Agree that the suspension is the best course of action.
-Or decide that its not good enough and not a valid reason for suspension and push us back to trading.
-Or decide that the information has to be released, even if it is used against the company, or is against the advice of lawyers and people involved in the discussions.

Not necessarily all bad, nothing has changed the situation itself.
Just the ASX has more control now, and we may have to disclose information prematurely.

 

[Winenut]

We were in voluntary suspension and now we are officially suspended indefinitely by the ASX for non-compliance of listing rule 3.1

Having explained themselves I don't see how AVZ can un-explain themselves and somehow show they are "in" compliance

Hate to say it but I reckon we're well and truly fucked

 

[BEISHA]

I've also consistently said that I understand why management put us in suspension and support them in their fight to retain our rights. But we have traded in this exact same position before and the share price was sub 0.20 for a long time. At the end of the day I just don't see what information isn't available to the market at this point.

But we have traded in this exact same position before and the share price was sub 0.20 for a long time. At the end of the day I just don't see what information isn't available to the market at this point.

Last time AVZ traded at 20c was late 2020/ early 2021 when we got our first offtake...........lol, lol, lol

Lots of water has passed under the bridge since then and AVZ is a much bigger beast, with a updated DFS in the bottom drawer waiting to be released when this mess is cleared up.

This mess we are in wasnt created by AVZ , (even tho disclosure comms are suss to say the least ) and would create a material impact on the SP as a result.

I disagree with the notion that no more information isnt available to the market........in fact i think there is a whole heap to come as per our TSE sleuths are revealing as time goes by.

Just my opinion.

 

[Carlos Danger]

Can anyone break down what this actually means?


"AVZ’s securities will now continue to be suspended from quotation under Listing Rule 17.3.1, due to AVZ’s inability to
confirm compliance with Listing Rule 3.1"

"AVZ’s securities are likely to remain suspended until ASX is satisfied about AVZ’s compliance with the Listing
Rules, including Listing Rule 3.1."


3.1 = May 14 2021 Letter.

Is this all bad for us?
Or is it just like, we are still suspended but for a different reason than before?
Could it just be that ASX had no legal recourse to keep AVZ suspended, so now they have a new reason?

It means we are no longer in voluntary suspension and are now officially suspended by the ASX until we make an announcement about our mining rights

At least we won't have to go through the monthly bullshit extension process anymore but management can't just decide to end the suspension if they wanted to

 

[Azzler]

Can anyone break down what this actually means?


"AVZ’s securities will now continue to be suspended from quotation under Listing Rule 17.3.1, due to AVZ’s inability to
confirm compliance with Listing Rule 3.1"

"AVZ’s securities are likely to remain suspended until ASX is satisfied about AVZ’s compliance with the Listing
Rules, including Listing Rule 3.1."


3.1 = May 14 2021 Letter.

Is this all bad for us?
Or is it just like, we are still suspended but for a different reason than before?
Could it just be that ASX had no legal recourse to keep AVZ suspended, so now they have a new reason?

Ok so I wasn't thinking clearly here, the 3.1 doesnt refer to the query letter that AVZ responded to, where at 3.1 it states may 14 letter.

It's talking about ASX listing rule 17.3.1 as follows:


Suspension not at entity’s request

General rule

17.3 ASX may at any time suspend an entity’s + securities, or a + class of them, from + quotation if in
ASX’s opinion any of the following applies.

17.3.1 The entity is unable or unwilling to comply with, or breaks, a listing rule.


In the response letter when asked if AVZ considers information regarding the Jan 28th 2023 Ministerial decrees (response 1.7), to be something that would have an effect on the share price, AVZ state "Potentially yes..." And go on to say they don't yet know.

So...
It looks to me, like because of listing rule 17.3.1, the ASX must take on the suspension themselves, because AVZ are unable to comply with a listing rule, because they don't yet know the true intentions of the DRC in regards to those decrees, and can not make a disclosure yet.


And so...
the ASX states that the securites are likely to remain suspended until AVZ know what it's all about.

So my take on all this is that it's all ok and nothing really changes as a result of this. ASX seem satisfied to continue the suspension, which is now just under a new rule, and they have said the ball is in AVZ's court in regards to coming out of suspension.

So (and I fucking hope so) I think nothing has really changed, just sounds scary.

Peace

 

[Azzler]

My, very outside, hope is that geopolitical forces are at play here and ASX are onside.
Hence the grace since February.

As things develop (hopefully in AVZ's favour), then maybe it is both in our interests to trade and we comply.

Or have I got my head in the clouds /up my rs?

I'm thinking this too mate.

 

[Chilla]

IMO the ASX, after rightly requesting answers to many questions regarding continuous disclosure, is satisfied with the position AVZ has explained itself to be confronting ...... and therefore uses ambiguous terminology "likely to remain suspended" and also permitted AVZ to take 2 months longer than stipulated to respond to the Aware Letter.

ASX has effectively said....we are doing our job in questioning the company and responding to the many questions investors and detractors have lobbed on us in respect to the continuing suspension....and AVZ has explained the situation to our current satisfaction as we now understand the negotiations and legal actions in progress and will allow them further time for the current actions to play out.

Not good and not bad.....just more of the same while communication with DRC continues imo.

 

[9cardomaha]

At least we have the best BoD of any company on the ASX

 

[Azzler]

We were in voluntary suspension and now we are officially suspended indefinitely by the ASX for non-compliance of listing rule 3.1

View attachment 34102

Having explained themselves I don't see how AVZ can un-explain themselves and somehow show they are "in" compliance

Hate to say it but I reckon we're well and truly fucked

Not indefinately mate, as stated by the ASX,

"AVZ’s securities are likely to remain suspended until ASX is satisfied about AVZ’s compliance with the Listing
Rules, including Listing Rule 3.1."

So it's suspended until we can clear up whats going on in regards to the Ministerial decrees.
At least that's what I can figure.

 

[Thaz]

Thanks for the commentary re this guys.

Seeing the 21 page document pop up while at work and no time to look at it, sure does make me concerned.

But the rational thoughts noted here on the announcements are much welcome as a synopsis (will review the docs myself when i get a chance to - work and the little bub are kicking my ass right now!)

 

[Mr Inappropriate]

Ok so I wasn't thinking clearly here, the 3.1 doesnt refer to the query letter that AVZ responded to, where at 3.1 it states may 14 letter.

It's talking about ASX listing rule 17.3.1 as follows:


Suspension not at entity’s request

General rule

17.3 ASX may at any time suspend an entity’s + securities, or a + class of them, from + quotation if in
ASX’s opinion any of the following applies.

17.3.1 The entity is unable or unwilling to comply with, or breaks, a listing rule.


In the response letter when asked if AVZ considers information regarding the Jan 28th 2023 Ministerial decrees (response 1.7), to be something that would have an effect on the share price, AVZ state "Potentially yes..." And go on to say they don't yet know.

So...
It looks to me, like because of listing rule 17.3.1, the ASX must take on the suspension themselves, because AVZ are unable to comply with a listing rule, because they don't yet know the true intentions of the DRC in regards to those decrees, and can not make a disclosure yet.


And so...
the ASX states that the securites are likely to remain suspended until AVZ know what it's all about.

So my take on all this is that it's all ok and nothing really changes as a result of this. ASX seem satisfied to continue the suspension, which is now just under a new rule, and they have said the ball is in AVZ's court in regards to coming out of suspension.

So (and I fucking hope so) I think nothing has really changed, just sounds scary.

Peace

That’s my take on it too.

 

[Chilla]

IMO the ASX, after rightly requesting answers to many questions regarding continuous disclosure, is satisfied with the position AVZ has explained itself to be confronting ...... and therefore uses ambiguous terminology "likely to remain suspended" and also permitted AVZ to take 2 months longer than stipulated to respond to the Aware Letter.

ASX has effectively said....we are doing our job in questioning the company and responding to the many questions investors and detractors have lobbed on us in respect to the continuing suspension....and AVZ has explained the situation to our current satisfaction as we now understand the negotiations and legal actions in progress and will allow them further time for the current actions to play out.

Not good and not bad.....just more of the same while communication with DRC continues imo.

I will add further....like most AVZ announcements on first glance of this announcement the impression is "ohhh fuck this isnt good" .... but on reading again and digesting further ... like previous apparent bad announcements.......they arent as bad as they first may appear.

Read and reread and you get a better appreciation from where AVZ and ASX are coming from and it's not like your first impression was. Hope that helps.

 

[RHyNO]

We are suspended until our BOD can clearly indicate what the fuck is going on with the deposit. They are keeping it hush hush at the moment because they either need to negotiate their way out or they are a pack of over funded geologist that will need a place to hide when this goes flop. Fuck them and fuck the asx for enabling this complete bullshit to exist. “We want to list our company to gain funding for a mineral resource we have found”. “Where is it?” “ DRC”. “GET THE FUCK OUT OF MY OFFICE AND TRY GO FUND ME YOU CUNT”

 

[Randenj]

My, very outside, hope is that geopolitical forces are at play here and ASX are onside.
Hence the grace since February.

As things develop (hopefully in AVZ's favour), then maybe it is both in our interests to trade and we comply.

Or have I got my head in the clouds /up my rs?

That was my very first thought when I read the announcements too. Hoping my gut feeling is correct.

 

[Beetleb]

Not indefinately mate, as stated by the ASX,

"AVZ’s securities are likely to remain suspended until ASX is satisfied about AVZ’s compliance with the Listing
Rules, including Listing Rule 3.1."

So it's suspended until we can clear up whats going on in regards to the Ministerial decrees.
At least that's what I can figure.

This gives me some comfort. However, is it possible we could be delisted by the ASX? I can't see any mention of potential delisting as the next step - only that we are suspended until AVZ satisfies the ASX we should come out of suspension.

 

[Flight996]

AVZ's management has for too long played fast and loose with its continuous disclosure obligations, and in the process treated its shareholders with contempt. Just like our CEO saying that his significant investment in an adversarial company, AJN, is not a conflict of interest (COI) and none of shareholders' business. That does not pass the pub test Nigel. If it quacks and waddles like a duck, then it's probably a duck.

Well, finally, after ten months the ASX has spoken and thrown the rule book at management.

After the smoke clears and there's a way forward, I hope management will now act differently and provide truthful and timely advice to shareholders.

Cheers
F

 

[TheCount]

"Thanks ASX, here's a long-winded response to your search for answers but we'll just ignore what you're really asking for. If you want further clarification, grab your popcorn and keep an eye on the upcoming ICC hearing"

And for anyone asking about delisting - you're either lacking education or a troll. Go do some reading about how you get yourself delisted. I'll give you a hint - it's available at asx.com.au or here Chapter 17 Trading halts, suspension, removalhttps://www.asx.com.au › documents › rules › Ch...

TC.

 

[Xerof]

ASX can go fuck themselves. AVZ will not (and have deliberately chosen not to) disclose all the information they would like to see, as it feeds the enemy, so ffs, put us in your suspension straitjacket, and we'll get back to you when we have sorted these other cunts out

over and out, 10 fuckin hail mary's

 

[Lucas Don Velor]

We were in voluntary suspension and now we are officially suspended indefinitely by the ASX for non-compliance of listing rule 3.1

View attachment 34102

Having explained themselves I don't see how AVZ can un-explain themselves and somehow show they are "in" compliance

Hate to say it but I reckon we're well and truly fucked

After the emotional roller-coaster of this mornings announcements..., I'm of the opinion that after an arbitration win, previous announcement comments like 'spurious in nature' 'vexatious'...etc, become realised...therefore AVZ will not have to "un-explain themselves"...Once AVZ is ABLE to adhere to the listing rule (after arbitration IMO), they will likely come out of suspension...

 

[geo_au]

Can anyone break down what this actually means?


"AVZ’s securities will now continue to be suspended from quotation under Listing Rule 17.3.1, due to AVZ’s inability to
confirm compliance with Listing Rule 3.1"

"AVZ’s securities are likely to remain suspended until ASX is satisfied about AVZ’s compliance with the Listing
Rules, including Listing Rule 3.1."


3.1 = May 14 2021 Letter.

Is this all bad for us?
Or is it just like, we are still suspended but for a different reason than before?
Could it just be that ASX had no legal recourse to keep AVZ suspended, so now they have a new reason?

It was obviously overlooked by management at such a busy time in the DRC. I am not fussed by the action taken by the ASX and feel in the scheme of things it is a non issue.