Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-102

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07/05/23

08:29

Post #: 67643662
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Originally posted by pow4ade: ↑

@sydneyguy

Plenty of media articles about the sale talking drc to zjin - about how much Avz offered and subsequently offered...

Yes, I recall being surprised hearing of this supposed low-ball counter-offer by AVZ, re Zijins bid, being floated around on Twitter and other media outlets last year. Here's a South China Post report:

Zijin reportedly paid US$33.4 million for the Cominière share, well above AVZ’s counter-offer of US$15 million.

Note the word 'reportedly'. The article also quotes Zijin's lawyer stating how the deal went down yet there are no official documents to my knowledge verifying his claim.

Indeed, at the time AVZ released anns refuting Zijin’s claim to 15% - spurious, of no legal merit etc - yet made no mention of lodging said counter-offer, thereby expending their ROFR. It beggars belief that AVZ would not disclose making such a bid, if true.

Thus it's doubtful whether this unsubstantiated story can be relied upon.

https://www.scmp.com/news/china/diplomacy/article/3197766/avz-vs-zijin-fight-worlds-biggest-lithium-deposit

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Zijin reportedly paid US$33.4 million for the Cominière share, well above AVZ’s counter-offer of US$15 million.
Now we know how management put us in this mess....imo
Maybe greed as AVZ P R support such greed....?
Water still very muky, and the DRC elections are creeping upon us.

AVZ Price at posting: 78.0¢ Sentiment: None Disclosure: Held
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Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-102

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