AVZ Discussion 2022

[Onthefm]

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 thrown at management.

I hope management will now act differently and provide truthful and timely advice to shareholders.

Cheers
F

Not a fucken chance mate. They wouldn't know how.

 

[Flight996]

Not a fucken chance mate. They wouldn't know how.

I suspect that the board is not greatly concerned, despite some reputational damage, because it is currently busy negotiating an outcome to bring to the ICC arbitration hearing on 21 April. If it can pull it off (no pun intended) then all will be forgiven and progression towards a mine will continue...until the next road hump.

Cheers
F

 

[thegh0stwithin]

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”

You sound like you are having a tough day. There are gentlemens clubs that can cure such ill feel.

 

[Xerof]

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.

I'll call your first comment out as utter bullshit. I've said it a few times now, the body language and hasty shutting down of the AGM that year alerted me (at least, if no-one else) that something was being withheld. I didn't know what until der geist started outing them

We may have the best BoD on the planet but they are also operating on the very edge of (non) compliance

I agree with your second sentence, so all peace and love

 

[thegh0stwithin]

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.

I hope management will now act differently and provide truthful and timely advice to shareholders.

Cheers
F

At this point in time, no matter what arises the book is suspended. This means no on market buying or selling.
Therefore, anything that arises in which it may not be in the best interests of shareholders to have disclosed to the open market may not necessarily be disclosed to the open market, if it is material to legal action to protect the rights of ownership, operation and unimpeded access at Manono.

I expect that management will continue to feed little to shareholders (and rightfully so) until arbitration procedures have concluded, the issue in relation to the court in Lubambashi is corrected, the issue in relation to illegal and illigitimate distribution of ownership of the 15% from Cominere is reversed and the mining license is granted.

Our funds are locked, a screw up sees them disappear, smart management sees them multiply 3-4x within 12 months of trading recommencement IMO. And I will be buying if we open on market again with a ML, when the rats run from the ship thinking it may not be safe.

 

[wombat74]

"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." - ASX

The ASX just did us a favour . As long as we remain in the cone of silence the ASX says we must remain suspended .

 

[cruiser51]

"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." - ASX

The ASX just did us a favour . As long as we remain in the cone of silence the ASX says we must remain suspended .

This was Zijin's latest press release:

World-class Manono Lithium Mine in the DRC to be developed soon, Zijin Mining holds a 15% interest in the project
2022/05/09

We could say we now have a level playing field, fukkum.

 

[Winenut]

 

[Jazz]

With no real end in sight to this suspension and only three quarters of funding left in the tank. It looks likely that the ATM funding facility may be required to keep the lights on. I’m wondering if managements hand may be forced to lift the suspension in 6 or so months in order to access the ATM funds so the shares can be sold on market.
Can anyone comment on the details of how the ATM facility can/can’t work during suspension? I have no knowledge of this type of arrangement.

So todays announcement shuts the door on the ATM facility.

 

[Onthefm]

So todays announcement shuts the door on the ATM facility.

Thank christ we spent all that money on drilling z our 15% partner didn't have to spend a cent and their 15% is worth even more than 33 mill now.

 

[Xerof]

IF Z ever get to be a shareholder, you can be assured they will pay a lot more than 35m for that stake. Thats what any possible negotiation would be about, but I doubt AVZ would entertain any possibility of working with those cunts.

 

[JNRB]

IF Z ever get to be a shareholder, you can be assured they will pay a lot more than 35m for that stake. Thats what any possible negotiation would be about, but I doubt AVZ would entertain any possibility of working with those cunts.

They'll be told to fuk off, and blamed for all the corruption and delays so as to make DRC ministers etc look less corrupt

 

[Winenut]

So it all revolves around AVZ's answer to question 19 from the ASX

AVZ confirmed it is not in compliance with listing rule 3.1 (continuous disclosure) and provided the ASX with the reasons why it is currently unable to comply

Then under listing Rule Chapter 17.3.1 ASX officially suspend AVZ due to non-compliance with listing rule Chapter 3.3.1

Don't let all the 3.1's confuse you


AVZ confirmed they are not in compliance with Chapter 3 listing rule 3.1

The ASX then suspended AVZ (indefinitely) under Chapter 17 listing rule 3.1

Note the suspension is "indefinite" because it is unknown at what point in time AVZ will be able to again comply with the continuous disclosure Chapter 3 listing rule 3.1

As some have mentioned before maybe it will have something after the ICC hearing April 21st????

I tend to think AVZ will only be in a position to comply once they have sorted out their negotiations and situation with the DRC Government, CAMI and Cominiere

AVZ are specifically and actively not adhering to the Chapter 3 continuous disclosure listing rule as they are concerned that confidential, privileged and legal information is leaking to non-national opposing entities during the discussion and negotiation process with the relevant DRC parties

So for me effectively we are pretty much in the same boat

We will stay suspended and will be enduring a cone of silence until the shit is sorted out once and for all

The only difference is we are no longer in voluntary suspension but officially suspended by the ASX

We will only come out of suspension if and when AVZ can prove to the ASX that they can comply with the Chapter 3 continuous disclosure listing rule 3.1

Hopefully that is soon and hopefully when they are in a position to disclose information it's what we want to hear

The alternative is ....well.....pretty fucked

 

[geo_au]

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”

I think investors are getting their knickers in a twist over this nothing announcement. The reason the BoD are keeping quiet is because sensitive issues are being discussed, to release these issues now would not be in the interests of shareholders and could give Zijin and others an advantage. As I said before this latest announcement is a nothing announcement and quite frankly I'm not concerned about it.

 

[Misfits]

Firstly, IMO this has changed nothing apart from we don't have to keep announcing suspension extensions. Secondly, people should settle down a bit as these announcements haven't decreased or increased anything, its business as usual. Thirdly, we cant use the ATM unless we are trading, Fourthly, ICC soon so bring it on! IMO we will come out the other side AOK. Now back to retweeting Jags and others Twitter posts.

 

[9cardomaha]

So i've caught wind of something and timecapsuled myself the content - not really related to today's anns but could impact.

It's also provided more perspective on the cone of silence the BOD has been taking so i'm gonna follow suit (mainly because i don't have documentation to support)

Feel free to reach out, happy to share on the DL and discuss.

9CO

 

[JNRB]

Anyone else actually ok with the fact that this will prevent the company from having to constantly put out stupid extensions every month? We know there's shit going on, just leave it suspended till it's sorted.

It does feel like we're getting closer and closer to that point. More info out in the open eg zijin corruption letter. More specific allegations being laid ie Celestin Kibeya stealing 2.2mil etc. We know now that embassies are involved.

Eventually, somethings gonna happen .

(( my guess ))
Fk-off Zijin, - Transaction against shareholder agreement and CK had no authority anyway.
There is absolutely 0 benefit to DRC for Zijin being involved, no motivation to fight for it.
Anyone that was involved is either now getting thrown under the bus or trying to distance themselves from it.

Cath buys that 15% direct from Cominiere at same price they buy 9% from AVZ - Fair pricing all around no one can argue otherwise.
This also means we don't have to throw 10% AVZ equity into our offer.

I also reckon there's gonna be some US/EU funding in there somewhere, likely for region/value-chain than AVZ specific, but tied to progress on fighting corruption - read: fighing chinese fukery and robbery. Little sweetener to help convince them to give zijin the boot.
))

 

[cruiser51]

So it all revolves around AVZ's answer to question 19 from the ASX

AVZ confirmed it is not in compliance with listing rule 3.1 (continuous disclosure) and provided the ASX with the reasons why it is currently unable to comply

View attachment 34113



Then under listing Rule Chapter 17.3.1 ASX officially suspend AVZ due to non-compliance with listing rule Chapter 3.3.1

View attachment 34114





View attachment 34115


Don't let all the 3.1's confuse you


AVZ confirmed they are not in compliance with Chapter 3 listing rule 3.1

The ASX then suspended AVZ (indefinitely) under Chapter 17 listing rule 3.1

Note the suspension is "indefinite" because it is unknown at what point in time AVZ will be able to again comply with the continuous disclosure Chapter 3 listing rule 3.1

As some have mentioned before maybe it will have something after the ICC hearing April 21st????

I tend to think AVZ will only be in a position to comply once they have sorted out their negotiations and situation with the DRC Government, CAMI and Cominiere

AVZ are specifically and actively not adhering to the Chapter 3 continuous disclosure listing rule as they are concerned that confidential, privileged and legal information is leaking to non-national opposing entities during the discussion and negotiation process with the relevant DRC parties

So for me effectively we are pretty much in the same boat

We will stay suspended and will be enduring a cone of silence until the shit is sorted out once and for all

The only difference is we are no longer in voluntary suspension but officially suspended by the ASX

We will only come out of suspension if and when AVZ can prove to the ASX that they can comply with the Chapter 3 continuous disclosure listing rule 3.1

Hopefully that is soon and hopefully when they are in a position to disclose information it's what we want to hear

The alternative is ....well.....pretty fucked

Of course I am not happy about the long suspension.

However, if this is what it takes to bring this to a successful finale, so be it.

Our opposition does not publish anything about this case, so it is not smart for us to play with our cards on the table.

Looking at twatter there are plenty pro and con people extremely active.
China probably has an entire army plus several newspapers and radio and television stations engaged.

AVZ has explained to the ASX the how and why. The ASX has placed AVZ as per the rule book in suspension, so no more questions to answer.

There is too much money involved for everybody.

So it is much smarter to negotiate without distracting sideshows or yapping dogs.

Fuk Zijin, no ifs or buts, just fukkum and sue um, including kunty kong.

 

[RHyNO]

I think investors are getting their knickers in a twist over this nothing announcement. The reason the BoD are keeping quiet is because sensitive issues are being discussed, to release these issues now would not be in the interests of shareholders and could give Zijin and others an advantage. As I said before this latest announcement is a nothing announcement and quite frankly I'm not concerned about it.

Agree be nice if they could let us know a bit of this in their announcement though. But tend to agree with you. Hope you are right

 

[Xerof]

I think investors are getting their knickers in a twist over this nothing announcement. The reason the BoD are keeping quiet is because sensitive issues are being discussed, to release these issues now would not be in the interests of shareholders and could give Zijin and others an advantage. As I said before this latest announcement is a nothing announcement and quite frankly I'm not concerned about it.

As a retired nun, I quite like going commando.

I’m going under cover, commando, to have a chat with 9card, so see you all later