Ann: AMANI SIGNS TERM SHEET FOR SALE OF GIRO GOLD PROJECT, page-69

Even if the directors were buying the drinks and we were all drunk, this would not pass the pub test.

An ex-director, who is privy to information we will never know about, wants to buy the gold mine with a payment scheme over 3 years.
(Mabanga Mining SARL is a DRC registered entity. The main shareholder of the Company is Mr Simon Cong, who is a
former director of the Amani Gold, and current manager and 13.5% shareholder of Amani Consulting).
Could the payment scheme be any more generous? If it is such a good buy, put the money up front.

I want to buy your house. I will pay you over 3 years - Interest Free! If anything changes during the 3 years and I decide to bail, you can have your house back, whatever condition it is in.

4. Following First Tranche completion, risk in the Sale Shares will pass to and vest in the Purchaser and the Purchaser
will become the operator and manager of the Giro Gold Project, accepting all risk, liabilities and costs associated
with operation of the Giro Gold Project. (Will also receive any income, if there is any to be had.)

From the announcement:
ASX have advised that ANL will be afforded a period of 6 months from the date of the announcement of the agreement
to dispose of its interest in Amani Consulting SARL to demonstrate to the ASX that it is compliant with Listing Rule 12.1 (which oblige a
listed entity to satisfy ASX on an ongoing basis that the level of its operations is sufficient, and its financial condition
adequate, to warrant its continued quotation of its securities.)
The ASX also advises that if ANL does not demonstrate compliance with this Rule to ASX’s satisfaction by the 6-month
anniversary, ASX will suspend trading in ANL’s securities.

Rationale for entering into the Transaction
◼ Geopolitical circumstances in the region could worsen in the future resulting in large-scale gold projects such as
Giro becoming less attractive to potential acquirers or investors. General elections are scheduled to be held in the
DRC in December 2023.

Do the "Geopolitical circumstances" include scrutiny by the government?

This is the "Shareholder List" from CommSec today. How are they going to view it and vote?

SubstantialShareholders List

	NAME	SHARE HOLDING	SHARES HELD (%)
1	Merrill Lynch (Aust) Nominees Pty Ltd	5,031,005,642	21.60%
2	BNP Paribas Noms Pty Ltd	3,029,257,723	13.00%
3	Citicorp Nominees Pty Limited	2,543,717,344	10.92%
4	McNeil Nominees Pty Ltd	1,485,307,783	6.38%
5	HSBC Custody Nominees (Australia) Limited	1,269,826,826	5.45%

It sounds dodgy. All I can see is a loss for minority shareholders and a win for others.
Par for the course really and ASX and ASIC will do nothing.
Good chance this one will end up in court too.