AVZ 0.00% 78.0¢ avz minerals limited

Locke Funding Almost Certainly Dead In The Water If News Article is Correct, page-228

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    If you're going to make statements like that, you need to provide all the information so people can put it into context with our situation. Otherwise you're just giving false hope.

    The DRC did not pay anything to First Quantum.

    Despite having a strong case in arbitration, First Quantum realized that it would take a long time to see any return and had doubts about the DRC actually paying the judgment.

    Kazakh, the company the DRC gave the mining licence to was a listed on the London Stock Exchange. They preferred to avoid the negative publicity from the legal cases in arbitration and hence offered the $1.25 billion settlement for First Quantum to drop their claims. First Quantum, who had invested 800 million over many years to build the mine, accepted the settlement as they knew the prolonged arbitration process with the DRC may ultimately result in a judgement years down the track, but they didn't have faith the DRC would pay.

    Drawing a parallel, in AVZ's case, it would be like Zijin feeling uneasy about the publicity from the current legal matters and paying AVZ a few billion to drop their cases and withdraw their claim.

    Unfortunately it appears Pigs will fly before that happens!
 
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