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10/05/22

22:23

Post #: 61327954
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Originally posted by theghostwithin: ↑

According to what I have read here, which was translated from a Congolese (French language) article, papers had fraudulently been issued between Zinjin Mining Co and Cominiere indicating 15% had been sold to Zinjin Mining Co. for 55m if I am not mistaken. The fraud has been identified and that is what we are waiting for an outcome on - who owns what, who had the right to authority to transfer control to who, and if the transfer was legal.

Based on previous contract, it appears it was not legal as AVZ had the initial right of refusal, so without a refusal the 15% ownership could not otherwise be transferred. Some are raising the issue of transparency in the DRC, but cheating AVZ would be to cheat the partner on the ground with the skills, know how and backing of the locals. I anticipate the DRC can see the benefit for all (including themselves) in doing things fair and right. It has definitely worked well for the people of Manono, the DRC and AVZ so far.

I will get some snarky responses from other posters, I have just ignored a bunch as it is clear the 4 accounts are coordinated and orchestrated to attack individuals on this thread. The first time I have ever been attacked - it is childish behavior in what I consider a part of my workplace.

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"but cheating AVZ would be to cheat the partner on the ground with the skills,"

exactly what skills and past experience do AVZ actually have on the ground in DRC?

AVZ Price at posting: 78.0¢ Sentiment: Hold Disclosure: Not Held
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