AVZ (ASX) You can change management but you can't change what's in the ground

Originally posted by greenmetals ↑

From http://www.miningweekly.com/print-v...hows-viability-of-drc-gold-project-2007-12-14"

CEO STEPS DOWN

Moto also announced that president and CEO Klaus Peter Eckhof had resigned all positions at the firm, effective December 31 2007.

The company did not give reasons for Eckof's resignation.

COO Andrew Dinning would assume the duties of president with effect from January 1, 2008.
The company is chaired by mining doyen and former Ashanti Goldfields CEO Sam Jonah.

Then in 2009:

London, 16 October 2009 – AngloGold Ashanti and Randgold Resources has formally completed the takeover of Moto Goldmines with effect from today, AngloGold said.
"In connection with the acquisition of this 50 percent joint venture interest in Moto, AngloGold Ashanti has fully funded the payment to former Moto shareholders under the cash election of approximately $76.9 million, and has paid approximately $171 million to Randgold," AngloGold said in a news release on Friday.
"The remaining existing liabilities of Moto will be settled in due course through the Moto joint venture with Randgold," it added.
AngloGold and Randgold teamed up to make a $488 million cash-and-shares takeover offer for Moto Goldmines on July 16.
The bid, which was higher than a $459 million offer from Red Back Mining, was formally accepted by Moto's board later that month.
The Moto gold complex in the Democratic Republic of Congo holds an estimated 5.5 million ounces of recoverable gold, making it one of the largest undeveloped deposits in the world.

History doesn't repeat but it does rhyme?

Now why did Klaus Peter Eckhof resign in 2007 BEFORE the takeover in 2009?

"The company did not give reasons for Eckof's resignation."

Check SP in 2007 and check takeover price in 2009!

Have fun discussing this sequel of events!

GM

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very interesting but Huayou IMO do not have the luxury of waiting for 2 years as lithium market is accelerating faster than the gold market.
also not many tier 1 hardrock supplies that have not forward sold the next 2 to 5 years of production.
so where is CATL and BNBT plus Huayou going to meet its expansion plans.
With Tinci MOU only with AVZ .
Who else have Tinci discussed to the level of a MOU for a downstream processing plant.
that 50c da club may now be an acceptable figure and everyone gets incentives.???

But you have to be a shareholder to reap the rewards ..... now someone else expressed same sentiment.
ALL IMO

https://www.fatprophets.com/Member ...-50ebc8724df2&product=European Mining&pt=paid