dollarbills
Regular
What do people make of this post.. It seems that the political mess is far from being resolved anytime soon.. Could Locke be waiting for more clarity on formation of government etc.?
AVZ Discussion 2022
- Thread starter GazDix
- Start date
cruiser51
Top 20
News
Judith Suminwa Tuluka is the The Democratic Republic of Congo's first woman prime minister [X/@SuminwaJudith]
Published On 1 Apr 20241 Apr 2024
Democratic Republic of Congo’s President Felix Tshisekedi has appointed the country’s first-ever female prime minister, naming planning minister Judith Suminwa to the role.
An economist, she takes over as prime minister from Jean-Michel Sama Lukonde, following Tshisekedi’s sweeping re-election as president on December 20.
Tshisekedi’s inauguration for a second term in January kick-started a lengthy search for a majority coalition in the National Assembly – a key step before a prime minister could be named and a government formed.
“I am aware of the great responsibility … We will work for peace and the development of the country,” Suminwa said on national television on Monday.
Tshisekedi officially triumphed with 73.47 percent of the vote in December, and the election passed largely peacefully in a country long torn by violence and instability.
The opposition branded the ballot a sham.
Voting was officially extended by a day due to logistical snarls, and polls were open for days afterwards in remote areas.
Advertisement
The new prime minister will be tasked with pushing the president’s declared priorities of employment, youth, women and national cohesion for the nation of about 100 million people.
Tshisekedi first became president in 2019 promising to improve living conditions in the DR Congo – which boasts mineral riches but has a largely impoverished population – and put an end to 25 years of bloodshed in the east.
The president failed to keep those promises, but he campaigned for a second term on his achievements such as free primary medication, asking for another mandate to “consolidate” the progress.
According to the United Nations, some seven million people have been internally displaced by conflict in the DR Congo, one of the world’s poorest countries.
The security situation has worsened in North Kivu province, where a Rwanda-backed rebel group M23 has seized swathes of territory over the last two years.
From Wikipedia, the free encyclopedia
Judith Tuluka Suminwa is a Congolese politician. She served as Minister of Planning in the Lukonde government. She was appointed as Prime Minister on 1 April 2024, becoming the first woman to serve in the role.[1][2]
Tuluka obtained a master's degree in applied economics at the Free University of Brussels and a diploma of additional studies in Work in developing countries.
She worked in the banking sector before joining United Nations agencies including UNDP where she was a national expert in a community support project in the east of the country. She then worked in the office of the Ministry of the Budget before becoming the deputy coordinator of the Presidential Strategic Watch Council (CPVS).
Tuluka was appointed Minister of Planning in the Sama Lukonde government on March 24, 2023.[3]
Interesting to see what the rest of the government looks like and how it effects Manono.
DR Congo president names Judith Suminwa Tuluka as first woman PM
Judith Suminwa says she will work for peace and the development of the country, after being appointed by President Tshisekedi.Judith Suminwa Tuluka is the The Democratic Republic of Congo's first woman prime minister [X/@SuminwaJudith]
Published On 1 Apr 20241 Apr 2024
Democratic Republic of Congo’s President Felix Tshisekedi has appointed the country’s first-ever female prime minister, naming planning minister Judith Suminwa to the role.
An economist, she takes over as prime minister from Jean-Michel Sama Lukonde, following Tshisekedi’s sweeping re-election as president on December 20.
KEEP READING
list of 4 itemslist 1 of 4Photos: UN peacekeepers begin pullout from DR Congo’s restive east
list 2 of 4The Take: What’s behind the armed conflict in eastern DR Congo?
list 3 of 4Democratic Republic of Congo is facing a humanitarian crisis
list 4 of 4Crisis in eastern DR Congo
end of listTshisekedi’s inauguration for a second term in January kick-started a lengthy search for a majority coalition in the National Assembly – a key step before a prime minister could be named and a government formed.
“I am aware of the great responsibility … We will work for peace and the development of the country,” Suminwa said on national television on Monday.
Tshisekedi officially triumphed with 73.47 percent of the vote in December, and the election passed largely peacefully in a country long torn by violence and instability.
The opposition branded the ballot a sham.
Voting was officially extended by a day due to logistical snarls, and polls were open for days afterwards in remote areas.
PM’s challenges
Parties supporting Tshisekedi garnered more than 90 percent of the seats in parliament, allowing him to legislate with ease.Advertisement
The new prime minister will be tasked with pushing the president’s declared priorities of employment, youth, women and national cohesion for the nation of about 100 million people.
Tshisekedi first became president in 2019 promising to improve living conditions in the DR Congo – which boasts mineral riches but has a largely impoverished population – and put an end to 25 years of bloodshed in the east.
According to the United Nations, some seven million people have been internally displaced by conflict in the DR Congo, one of the world’s poorest countries.
The security situation has worsened in North Kivu province, where a Rwanda-backed rebel group M23 has seized swathes of territory over the last two years.
Judith Tuluka
From Wikipedia, the free encyclopedia
Judith Tuluka Suminwa is a Congolese politician. She served as Minister of Planning in the Lukonde government. She was appointed as Prime Minister on 1 April 2024, becoming the first woman to serve in the role.[1][2]
Tuluka obtained a master's degree in applied economics at the Free University of Brussels and a diploma of additional studies in Work in developing countries.
She worked in the banking sector before joining United Nations agencies including UNDP where she was a national expert in a community support project in the east of the country. She then worked in the office of the Ministry of the Budget before becoming the deputy coordinator of the Presidential Strategic Watch Council (CPVS).
Tuluka was appointed Minister of Planning in the Sama Lukonde government on March 24, 2023.[3]
Interesting to see what the rest of the government looks like and how it effects Manono.
cruiser51
Top 20
Pinned
KIKI KIENGE
@KiengeKki
·
8h
[Vidéo] Quoi attendre de Judith #Tuluka Suminwa la nouvelle PM et première femme a avoir occupé ce poste en RD Congo. Originaire du Kongo Centrale, ancien ministre du Plan, a aussi exercé au cabinet du ministère du Budget avant de devenir la coordonnatrice adjointe du CPVS.
[Video] What to expect from Judith #Tuluka Suminwa, the new PM and first woman to have held this position in DR Congo. Originally from Kongo Centrale, former Minister of Planning, also worked in the office of the Ministry of Budget before becoming the deputy coordinator of the CPVS.
With many thanks to Paul for the translation.
KIKI KIENGE
@KiengeKki
·
8h
[Vidéo] Quoi attendre de Judith #Tuluka Suminwa la nouvelle PM et première femme a avoir occupé ce poste en RD Congo. Originaire du Kongo Centrale, ancien ministre du Plan, a aussi exercé au cabinet du ministère du Budget avant de devenir la coordonnatrice adjointe du CPVS.
[Video] What to expect from Judith #Tuluka Suminwa, the new PM and first woman to have held this position in DR Congo. Originally from Kongo Centrale, former Minister of Planning, also worked in the office of the Ministry of Budget before becoming the deputy coordinator of the CPVS.
With many thanks to Paul for the translation.
RHyNO
Regular
A good thought but I doubt we would be able to list on ASX as misleading statements put management up against disclosure laws. They can’t say “spurious in nature”. (Edit) as it appears at the moment that The claims had deep and true grounding in fact. Not that they weren’t corrupt or manipulative but they certainly are not spurious claims until proven to be by the awarding of an ML, which leaves them basically on the books misleading shareholders. Additionally they don’t have strong legal title over the mine anymore. Not trying to be a downer. But I think we are going down with the ship. I hope Nigel has the stones to buy us all a pint and apologise
Last edited:
LzrTr8dr
Regular
We would be too late to relist by that deadline considering the hoops to jump through in order to be ASX-compliant again would we not?
Hodlandwin69
Regular
Locke is potentially awaiting outcome of Fat Tail court case, as the court case was meant to be done and dusted by now, but Fat Tail have delayed it 2 or 3 times now. Next court date is scheduled for this Thursday
BRICK
Where’s Zeebot 😶🌫️
Their Chinese masters are teaching them the ways....
We relist now we won’t be worth 20mil in a month
Hodlandwin69
Regular
Tommy,
I disagree. My thoughts are the announcements were based on the laws of the DRC and the belief that they would be enforced. I dont believe the Board would have known that the shenanigans that have gone on would have had legs. Both the ICC and the ICSID have on the face of it supported AVZ, AVZI & Dathcom todate.
Lets not forget the investigation of the IGF and that the World Bank is holding back billions of dollars.
For the DRC to ignore the ruling of the ICSID would not be in their interest especially it being affiliated with the World Bank.
Lets wait for things to play out.
Regards,
SilentOne - Do your own research and come to your own conclusions
Last edited:
In all honestly they are one and the same imo. What do you think happens to a company on the ASX with no money, 4B shares on issue and no clearly defined asset?
None of us will be able to sell shares.
I’m hoping ICC rule in AVZ’s favor for the penalty incurred to date ( is there a date set for this yet to be heard? ). DRC won’t pay it but when given a bill of ten of millions they’ll have to start noticing and that judgment would go a long way to Locke loaning us that 20mil IMO.
cruiser51
Top 20
He would have been pretty stupid if he would have said we are not working on that.
You don't have to be a rocket scientist to work that out.
Which has already been the subject of much discussion here on TSE.
I hope they have better clarity on that than I do.
RHyNO
Regular
You are again correct, i always forget that the DRC are contravening their own law for this insanity. It’s such a wild reality I keep using logic to justify my position but fail to recognise this govt exists outside of it! Wild times. Play out indeed. Wise words.
Next steps calendar update.
We are halfway through.
Still no word re: Dathomir withdrawing its application to wind up Dathcom on 25th March.
I've added the Fat Tail proceedings supposedly on the 28th Mar, and will update if anyone posts up a rescheduled date.
Also added Locke funding deadline of 31 May.
CAMI portal also still has PR13359 belonging to Cominiere.
We are up to the 3rd of April already. After that hearing we might get some insight regarding steps to turn fines into cash (I'd rather be doing that in the mining sense instead of a legal sense). Maybe an announcement this Thursday?
If the hearing is super favourable we might get an announcement re: Locke sooner rather than later?
We are halfway through.
Still no word re: Dathomir withdrawing its application to wind up Dathcom on 25th March.
I've added the Fat Tail proceedings supposedly on the 28th Mar, and will update if anyone posts up a rescheduled date.
Also added Locke funding deadline of 31 May.
CAMI portal also still has PR13359 belonging to Cominiere.
We are up to the 3rd of April already. After that hearing we might get some insight regarding steps to turn fines into cash (I'd rather be doing that in the mining sense instead of a legal sense). Maybe an announcement this Thursday?
If the hearing is super favourable we might get an announcement re: Locke sooner rather than later?
Kicking some other thoughts around:
- Yeah, Locke might be waiting for some other possible info/outcomes as part of their DD. However, as they are the most expensive finance option AVZ might also be holding back for the moment and might only execute after other options are exhausted. Nige and Co would have greater understanding of how quickly we could recover/get funds from fines should the hearing later today go very well.
- There is still also the option of getting some negotiation done (very low probability given there is no established Government ATM)
- Surely they are also talking to the ASX re: a possible relist if that is going to happen. Not saying it will, but if Management have that as an option they must have already started those discussions already.
- The date of 31 May 2024 is an exclusivity period, so Locke must be the only live option for this type of funding or exclusivity is breached. Leaving relisting or recovery of fines as remaining options? What other options are there?
- Yeah, Locke might be waiting for some other possible info/outcomes as part of their DD. However, as they are the most expensive finance option AVZ might also be holding back for the moment and might only execute after other options are exhausted. Nige and Co would have greater understanding of how quickly we could recover/get funds from fines should the hearing later today go very well.
- There is still also the option of getting some negotiation done (very low probability given there is no established Government ATM)
- Surely they are also talking to the ASX re: a possible relist if that is going to happen. Not saying it will, but if Management have that as an option they must have already started those discussions already.
- The date of 31 May 2024 is an exclusivity period, so Locke must be the only live option for this type of funding or exclusivity is breached. Leaving relisting or recovery of fines as remaining options? What other options are there?
Cumquat Cap
Regular
I think avz working hard to ascertain whether ICSID can force coniniere and or the DRC (soon) to begin paying their fines, waiting until that has been determined before committing to Locke who are prohibitively expensive which would eat into any profit should avz soon have a liquidity event. Fiduciary duty’s and whatnot
Cumquat Cap
Regular
Avz having legal title to the largest spod mine globally, lit funding won’t be a major issue imo, Sundance easily got it for a worse mine in a similar jurisdiction
Similar threads
