Yes, that is what Jin Cheng Mining Co (as a subsidiary of Zijin Mining, one of the largest gold miners in China and directly connected to the Chinese Government) paid US$33.4m for - 15% of rights to participate which did not exist to any other entity except for AVZ, until after AVZ refused or indicated it was unable to pay the asking price. This being the definition in business of first right of refusal.
In the case of Cominiere in collusion with Zijin what breach of contract means. It may be harder without the cooperation of the DRC Central Government to prove Zijin conspired and colluded with Cominiere, but it is clear that Cominiere breached their JV agreement stating first right of refusal to 15% lay with AVZ, and that specific conditions were to be met prior to this "offer to acquire" taking place between Cominiere and AVZ.
Also understand, should an asking price not be negotiated, or be considered to be above market value, this in itself could be perceived as an attempt to breach the contract and offer it to a third party at an unequal price so may become subject to legal action by AVZ.
I know who reads these forums - not just holders. For those of you employed by "the opposition" you had better think carefully about how ugly you want this to get.
