Good News & Bad News, page-30983

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jamiealdridge

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20/07/23

21:31

Post #: 68897940
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Originally posted by RockyOutcrop: ↑

A little bit of information about AVZ.asx and why investors and potential investors were told to tread carefully with this investment - For a lot of investors this fell on "deaf ears".

***Just incase people are interested in maybe why Guggsy is here, beating on h00ts. (all the time)

Financial Review (AFR):
- "Troubles started back in 2021 - AVZ responded to 20 questions from the ASX about its disclosure of Manono-related ownership disputes and capital raisings in 2021."

- "The Australian Financial Review, which revealed on February 8 that it paid a Congo middleman $US1 million cash to help it secure its mining licence from the DRC government."

- They thought the share holders did not need to know this, LOL:
"In Wednesday’s response to an ASX letter dated February 10, AVZ said it didn’t disclose a May 2021 letter from a DRC entity named Dathomir that terminated AVZ’s agreement to purchase a 15 per cent stake in Manono because Dathomir didn’t have valid legal grounds to scupper the deal. RELATED QUOTESASXASX Limited$61.970 0.34%Jul 22Jan 23Jul 2359.50076.50093.500AVZ added it believed Dathomir’s letter purporting to terminate the sale would not have materially affected the price of its shares if disclosed to the market at the time."

The Motely Fool:
"The company attempts to finalise an ownership dispute with China’s Jin Cheng Mining, which claims to own a portion of the Manono lithium and tin project.AVZ has denied the claim, leading to a protracted arbitration proceeding between the two companies.A second company has also made a claim to Manono, this time coming from Dathomir Mining Resources. A DRC tribunal granted Dathomir’s request to suspend the sale of a 15% stake in Manono to AVZ, which makes the ongoing ownership dispute all the more complicated."

Any way: AVZ went into Voluntary Trading Halt - and kept extending, ASX finally suspended AVZ, then AVZ went into Voluntary Suspension and has kept extending the Voluntary Suspension.

Investors were advised to invest with caution... Basically told, Not a good idea, at all.

Plenty of info on the web.

MOO

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yeah but it’s all Hoots’ fault innit?

PLS Price at posting: $5.10 Sentiment: Buy Disclosure: Held
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Last $3.09		Change -0.070(2.22%)		Mkt cap ! $9.305B

Open	High	Low	Value	Volume
$3.09	$3.17	$3.06	$43.28M	13.95M

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No.	Vol.	Price($)
1	2499	$3.09

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Price($)	Vol.	No.
$3.10	26336	2

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No.	Vol.	Price($)
1	2499	3.090
7	43464	3.080
14	379968	3.070
25	226321	3.060
18	83106	3.050

Price($)	Vol.	No.
3.100	5000	1
3.110	196891	7
3.120	33500	3
3.130	29680	8
3.140	179219	5

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