Ann: Extension to Voluntary Suspension, page-256

Totally agree @theghostwithin
My take on the hold up is that all these investigations (e.g. IGF) and committees and consultations need to take place to provide an above board and iron-clad executive decision on the ownership of Dathcom. DRC government officials do not want to make such decision without due process being followed and documented. In turn AVZ is not going to make any statement and not going to dilute any Dathcom ownership to CATH until that process has played out and has been communicated by DRC institutions themselves.

First priority is to have confirmed that AVZ's own acquisition of 10% + 5% Dathcom stake from Cominiere is secure, confirming 75% ownership. That should allow issue of mining licence and CATH deal and then eventually FID, etc.etc

Second, is the issue of arbitration with Jin Cheng on the remaining 15% from Cominiere. Despite having first right of refusal, this 15% could always have gone to someone else if we were outbid. But we do not want the 15%to go to Jin Cheng through a corrupt and undervalued deal without having had that first right of refusal and a better offer. My experience with arbitration is that you only go into arbitration if both parties want something from the other, hence AVZ's position that the Jin Cheng's claims are vexatious and without merit still and that they are lodged in Paris sound like a position of strength for AVZ in this case. I cannot see Cominiere giving back the money to Jin Chen. This additional 15% negotiation/arbitration can indeed drag on for a long time, but there are other projects out there that have progressed, have taken FID when minority shareholding law-suits continued in parallel. It will be a drag on the SP but one that can be quantified because we know the book-ends of the possible outcomes (i.e. 66% or 51% post CATH deal.