AVZ (ASX) Ann: AVZ Successfully Restrains Dathomir

Originally posted by cruiser51 ↑

Looking at AVZ announcing the estimated resource in CdL plus still having to disclose to results of the last drilling of RD, plus the effect on the reserves of that section, it could well be that AVZ is getting ready to head into that direction by slowly releasing the real resource quantity and quality in 13359 in its entirety.
It looks like the total reserves will be around 700 million tonnes, with CdL not drilled out.

Maybe it is just a wake up call for the DRC to make sure they understand what could be the claim made against them.

Does Zijin wants to pay the real price? No.
But taking in mind that it will give China a huge advantage over other countries, they know they will not get this for US$33 million and a few brown paper bags.

The coming DRC election will also be interesting.

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seemed odd to me that they released the resource update- almost all of the work was done a really long time ago ( drilling) and the last bit was done in 2021 to come up with just inferred resource

why wouldn’t they have done that in 2021 and added it to the resource table which they have been promoting as a “ monster” since 2020

sure now they have legal challenges and probably seeking to sure up a valuation or perhaps to get the term sheet up and converted

but

got to make you wonder why it takes Avz 2 years to calculate an just inferred resource which it heralding now instead of shortly after the final drilling was done way back in 2021

again spending 36.426 million last year on exploration knowing all these court cases were ongoing was a massive mistake imo and clearly foreseeable they could run out of capital

Avz is out there still trying to arrange funding for 20 m usd- that expenditure last fin year is approx the same amount it now says it needs to see the legal cases through- I think it was clearly foreseeable and the existing resource and reserve was already promoted by them as “ monster”

existing shareholders will be diluted ( no details out yet from this finance subject to due diligence ) but new holders ( in whatever form)will benefit one would assume from the calculation of the results after existing shareholders saw a deployment of approx 36.5 m on paper but nothing converted to paper well after the drilling campaign earlier this year was finished

Really poor use of capital by board imo considering the outlook of legals and more actions being brought against the company and the fact the company was formally suspended from the asx trading platform - who cares if monster resource and reserve got bigger with a backdrop of a cancelled mining decree and legal actions everywhere-

the company needed all available funds to pursue its legal strategy , and it’s already now told SH it needs another 20 m usd to see it through —- but no updated dfs or r and r after spending all that capital on exploration during last financial year-