Its there only recourse to appeal via arbitration.
I would assume they tried legal avenues prior to the Decree but failed
.I would assume they appealed directly to the Mines Minister but failed.
The mining code provides absolute authority to Mines Minster to make decisions about these matters. It is only superseded by the president. Since FT declared he wanted to end corruption, and Chinese influence there is no way the Mines Minister would allow an illegal transfer of shares to Zinjin to proceed. Essentially prior to the decree Zinjin lost every battle due to poor DD by not reading contracts correctly.
After the decree the only avenue left is for arbitration with AVZI. Any argument that AVZ does not hold 75% was stomped on when AVZ published, legally to the world that the Mines MInister had signed the decree to AVZ to mine Manano. On this same document AVZ notes that they are the holder of 75%. If this were not correct, DRC via the Mines Minister would immediately publish otherwise.
Zinjin really dont have a leg to stand on as they say. They will loose if AVZI even turns up.
AVZ Price at posting:
78.0¢ Sentiment: Buy Disclosure: Held
