An IGF report reveals the acquisition by AVZ of 60% of shares in violation of the JV Agreement in 2016, page-10

Our 60% as per the report is irrevocable. It's there in black and white.

From IGF Report




Unfortunately one could then argue that the Zijin Mining acquisition is also unable to be changed. Hopefully the ICC arbitration will force a change in this structure, but that is not until mid 2023.

Dathomir was in question about selling the 60% to AVZI because under the JV arrangement Dathomir was obligated to fund the the drilling and feasibility studies. Only then could they benefit from a sale post valuation on the project with feasibility studies. However, AVZ has argued that they actually entered into the original JV and then took on Dathomir's funding obligations to bring the project forward and earn the 60%. They did not strike up a new agreement or JV and hence the existing JV remains, but amended Dathomir's obligation transferring to AVZ taking on the obligation to fund the project feasibility. I agree that sounds all a bit murky but globally acclaimed lawyers DLA Piper believe this to be 100% water tight so I have no reason to doubt them.



At the end of the day, we just need this farking ML , at that point many of the detractors will fall away.  However,  in my opinion I think we will end up with additional partners to the project, but with us holding 51% of the project. If Zijin does squeeze their way in then they will be obligated to pay their portion of the project costs and we can get on with it.

Dathomir have absolutely ZERO chance of getting anything further. They are called out for contributing zip zilch nada in the IGF report and have already been handsomely paid.


AVZ are the only ones in the whole mess that have spent time, resources and huge $$ to bring this project to life

Here's to a great 2023 everyone. This saga still has some way to play out