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AVZ avz minerals limited

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Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-90

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Sediaws

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05/05/23

23:21

Post #: 67635726
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Originally posted by sydneyguy: ↑

115 m raised in 2022 fy

25 m for drilling and early works and studies

Drilling now complete -

still only handful of assays and of course studies etc etc which require money to be spent to come because all Avz has in paper is the current r and r and dfs from 2020

Last year end of June 60 m

End of March 2023 27 m

still claiming good title to 75 percent but multiple action on subjects that Avz did not disclose because they believe everything spurious merit less etc ongoing- very- Avz still to respond months after bringing one action and discloses it took months to respond to another action which is now scheduled for later in 2023

Think about this - everyone hate chineeeeese- they ripped off drc only paying 33 m which was spent on snacks and commissions- outrageous

forget that -

Avz now off to challenge sale to Chinese by drc because it’s got its first right of refusal (which it used, )

but Avz and others hyping drc got ripped off - saying zjin only paid 33 m when Avz subsequently ( after the sale) offered 150 m

who are Avz kidding

They paid 21 m usd to Dathomir for 15 percent which Dathomir requests to be revalued- Avz off to icc saying deal signed and closed terms should stand - that was a value agreed in 2019!!!!

ok Avz

so why did you go offer drc 15 m- way less than what you offered Dathomir back in 2019 and which is now subject to dispute ( as per annoucments and various media articles retweeted by twits)

Avz low balling and trying to rip off drc?

You can’t offer to pay Dathomir via option contracts a total of 21 m in 2019 then release a huge resource and reserve and dfs which subsequently proves everything

then

rock up to Government and offer 15 m and expect them to just sell To You - the drc sold
For more than what Dathomir was paid by Avz and

sold For more than double what Avz was offering

Avz then coming back after the transaction is done ( just like Dathomir is doing) doesn’t wash-

Avz coming back and saying we “ subsequently offered “ 10 times what we offered before zjin secured the drc shares is absurd- Jist goes to show imo how totally useless the board are at management - drc was right to secure more than Double what Avz offered from zjin - and Avz trying to come back after a sale of which they made an insulting stupid offer imo is as absurd as Dathomir asking for an options contract to be revalued as a dfs came out a year later which was positive and catl bought shares from Avz far higher once the “ monster” was confirmed—

Avz will stupidly like most things they have done spend the capital on salaries and reports and studies which probably won’t be finished before it’s ownership actions are concluded- they will continue what is left of the existing cash and that raised in 2022fy - oh that right that’s down to 27 m aud now

Avz will implode but claim bad actors took away what they believe is rightful ownership to 75 percent of a company with no pathway to a mining Lic and therefore no value

zjin offered more than 100 percent more that Avz offered for drc shares
Drc see what Avz bought and paid to Dathomir and grabbed the only other offer in town that was way way above Avz offer and quite franking not seemingly a rip off by arrogant majority holder offering 15 m for thier 15 percent after paying Dathomir 21 m for 15 percent-

Avz tried it for whatever reason and drc took the materially larger amount from zjin

everyone revaluing the sale of drc to zjin because Avz subsequently ( presumable on terms matching what Avz sold to catl for-240 m for 24 percent) offered 150 m for 15 percent but just like Avz/ Dathomir the transaction is over

Avz low balled drc it appears

- drc got more than double-

Avz coming back subsequently offering 150 m when deal is over is a croc- When a first right of refusal is offered and you don’t play ball and vendor wants to sell for double and the auction closes and finishes, don’t be coming back in a week or a few months later offering more - if Avz want this notion to have a transaction rescinded then surely they shouldn’t object to Dathomir wanting it transaction rescinded and revalued

end of day - Avz offering 15 m ( as per all the media and hot air ) was absurd- well below what it had agreed to pay Dathomir before it even released a dfs— so drc took the much higher amount- Just like Dathomir deal done ( how the drc spent thoer 33 m is a matter for them not Avz shareholders)

Avz management have a lot to answer for but they got hacked and afr and bad actors are trying to steal thier assets-( omg send a box of tissues to md please)

fact is they mismanaged thier negotiations- have dwindling funds- no pathway to a lic as decrees cancelled and will soon be out of funds after raising 115 m in fy2022 and still no complete updated resource reserve or dfs

plenty of money needed for legal fees
Plenty of liabilities
Plenty of salaries
Not enough capital to pay salaries and wages, finalise a raft of major legal disputes and bring , totally up to date the resource and reserve and dfs- drilling and exploration over now , time for the studies - but of course you need more than a handful off assays, you need all that complete - and that according to Avz will cost more and given the near 9 months to drill , this will take time to complete- Avz got time but doesn’t have enough capital-

and Avz has closed itself off to capital as it decided that due to boogy men/ bad actors / hackers it’s can’t be in compliance with asx trading rules and is now suspended from trade by the exchange

Avz md and his board will crush existing equity as they have done by not disclosing a raft of disputes which were ongoing years before they just raised 115 m last financial year and which all stand over Avz s mining and exploration rights- oh wait it was suspended due to shorters according to md statements at agm- oh wait it wasn’t linked to icc action but now it’s Not

Avz management have successfully suspended its own equities- locked up the capital of the company - due to their believes been unable and unwilling to be in compliance with asx rules leaving them the ability to spend 60 m on hand end of June last year on land they have no permit to mine- but they can pay themselves handsomely until all the cash is gone and we are left with an old dfs document from 2020

anyone stupid enough to offer the drc 15 m when they had paid Dathomir 21 m for the same percentage the drc wanted to sell years before- then miss out - then be subject to multiple actions on issues they didn’t disclose because it believes them to be merit less -

anyone that stupid incompetent and imo negligent has zero chance of ever building a mine

claiming zjin ripped drc off based on a subsequent offer from Avz after a transaction is complete in which Avz was the under bidder by a country miles is ridiculous-

Avz low balled and lost

either way- Avz board and Nigel are successfully burning the remaining capital ( all raised without disclosure of all issues in court today) on land which had no permit - and whose pathway to a permit just got cancelled a few month ago and who have provided such absurd excuses to asx that they cannot be In compliance and are now suspended involuntarily—

Ps - isn’t there money held in escrow for Catl deal? How’s that accounted for, is it part of the 27m

We own 75 percent of the asset with no pathway to a mining permit- no updated dfs from 2020 despite this last campaign and drilling campaigns prior ( studies incomplete as almost assays still outstanding as of end of March ) - multi legal disputes not even really started -

but - thankfully

when it’s all over

we can take splice that we were all
Guided by a board of directors who clearly have one years experience 200 times over

sorry for edit no time

Expand

it’s my understanding they only ever paid a $6mil downpayment which was spend on drinks and snacks and there is no record of any other monies being transferred? Also where did you get the info AVZ had offered 15mil for the 15% zijin illegally acquired in my opinion?

AVZ Price at posting: 78.0¢ Sentiment: Hold Disclosure: Held
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