Things can play out a few different ways if there is a significant offer from Zijin for the 15% in question. (That AVZ has pre-emptive rights on.)
AVZ can decide to match the offer by going to the market to raise the required funds or offering a more exotic deal to secure the 15% if the board believe the offer from Zijin is worth matching/beating. (I'd say Zijin only have a copy of the old (2021) DFS only BTW)
If AVZ secures this 15% it will incerase its ownership of Dathcom from 51% to 66% (assuming starting point is 51% post completion of deal with CATH)
As already mentioned, if Zijin make a significant offer of X for the 15% (that appears to be above market odds at the time), then this will put a rocket up the SP IMO which will of course make it more cost affective to raise any funds in the near term needed to execute the pre-emptive rights option and secure the 15%.
It will all come down to whether Zijin actually makes an offer, (we shall see) all fine and well for Zijin to make these statements when the cameras are on them, yet this may change to an alternate strategy / focus in the DRC on other sites or maybe a full take over offer of Dathcom is tabled or something else that is yet to surface.
One thing for sure is AVZ is in control of the project and is the majority owner of Dathcom, irrelevant of wether they acquire the additional 15% or not.
In short, AVZ is in the box seat!!! I'm sure Nigel and co are now enjoying the face saving show put on by Zijin considering the issues they have caused AVZ to date.
Cheers BJ
