Simplified for you on where $AVZ stands to date.Positives:
- Engagement with DRC Government: AVZ Minerals is actively engaging with the DRC Government to resolve disputes amicably.
- Draft MOU: A draft Memorandum of Understanding (MOU) has been created to facilitate a staged settlement.
- Legal Actions: AVZ is pursuing legal actions to hold various parties accountable for breaches and non-compliance.
Negatives:
- No Agreement Reached: Despite efforts, no agreement has been reached on the settlement terms.
- Cominière Breaches: Cominière has breached emergency relief orders, leading to significant penalties1.
- Government Involvement: There are concerns about the DRC Government’s involvement in modifying mining permits, which could complicate the dispute further.
- Fundraising: AVZ Minerals raised A$1.4 million through unsecured convertible notes to fund operational costs and ongoing legal proceedings1.
- Convertible Notes: These notes have a 5-year term, a 12% annual coupon, and convert at a 15% discount to the share value under certain conditions.
- Legal Strategy: AVZ is continuing negotiations with Locke Capital for a litigation funding facility and is pursuing legal strategies to protect its interests in the Manono Project2.
- Future Options: A call option for additional convertible notes worth A$750,000 is available until September 30, 20243.
Stay strong people. Just remember: She is the world LARGEST Li mine on the planet!
Of course corruption will be involved.
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