Australia's largest stock trading and investment forum Australia's #1 stock forum

AVZ avz minerals limited

0.00%

78.0¢

Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-25

First 25 Last

Share
Profile

Follow
john_utah

1,898 Posts.

664

01/11/23

09:31

Post #: 70658498
Share

Originally posted by sydneyguy: ↑

Previously on Avz

Avzi acquired 15 percent stake in the manono project from Dathomir ( purchase of dathcom shares) via two validly executed and completed sale and purchase agreements “Dathomir spas “

Since august 2021 Avz has always implied it’s subsidiary avzi had duly COMPLETED, including PAYMENT and within the time period both Dathomir spas

All Avz presentations then went on to say its subsidiary avzi held 75 percent interest in dathcom until it announced a mining lic decree where it mentioned a tribunal ruling - carefully talking and saying Avz Ltd wasn’t involved and talking about legal title

of course avzi was involved and Avz decided to imply that Avz Ltd wasn’t involved - despite Avz Ltd claiming ownership and announcing it owned 75 percent of dathcom via its wholly owned subsidiary avzi in its announcements for well over one year

only resent Avz Ltd admitted fat tail accusations that there was a tribunal ruling and high court ruling in drc which did not go in its favour, fines and court charges against a director of the company who actually is standing for rejection at next agm- Avz again dismiss these tribunal and court rulings in the basis that Avz Ltd wasn’t involved and stating that the two duly executed sale and purchase agreements required any dispute be taken to the icc for arbitration and that these rulings against avzi never really disclosed in proper detail or correctly to the market prior to suspension are invalid and Avz is off the the icc to sort it out and affirm its ownership of the 15 percent interest in dathcom purchases from Dathomir via duly executed and completed sale and purchase agreements including payment

In todays Halloween episode- like it doesn’t mean anything- Avz announces in it’s quarterly activities report and cashflow report - under corporate

that it’s lawyer in the drc- still holds 20 m usd dollar for the benefit of Dathomir for completion of the dathomir spas

so Avz has gone from we competed including payment to our lawyer is still holding 20 m cash for the benefit of Dathomir for completion

Avz should have disclosed this back in august 2021- it hasn’t completed - the consideration is still sitting in our lawyers bank account and we are in dispute

uuuuck and these guys want a tick on the remuneration report and re election

and others over the internet never right since it went into suspension are excited as to the current cash position and appointment of advisor to raise capital adding in the 20 m held in a trust account for a transaction that never actually settled

for Avz to Just casually drop this detail in corporate for the very first time since it claimed in august 2021 to have completed on time and including payment the Dathomir spas for 20 m usd is surely warranted if shareholder and regulatory questions about true and proper disclosure

Who would have purchased knowing back in august 2021 that the deals to purchase 15 percent additional shares in dathcom from Dathomir didn’t actually compete- the consideration for whatever reason was sitting in an escrow account and that Avz just seemed to sign over a share certificate which was ultimately rejected by a drc tribunal and court - I how do you sign over a share certificate if your lawyer still has the money and your disputing the agreements with the vendor

But

not disclosed because Avz said without merit and in the wrong court

seriously Avz directors and the asic and asx should be having a long meeting and fools on internet claiming 2o m held for the benefit of Dathomir as capital for short and medium term potential need to be ignored

why anyone would give a vote yes to remuneration report and reflect some of these directors who have withheld so much information is beyond me

competed including payment in august 2021 but the payment is still being held by its lawyer for the benefit of dahomir and completion of the agreements on the 31 st October 2023!

shsssssh

don’t miss next weeks episode - who knows what details will emerge

Expand

I guess this explains why GJ was allegedly found guilty of illegally changing the Dathcom share registrar to acquire the 15%.

It's taken this long to finally have management announce that they are still in control and essentially hold the $20mil, which was for the purchase of the 15% from Dathomir.

And the only reason they are telling people now is because they are running out of cash...?

Makes you wonder what other information AVZ haven't been forthcoming with.

AVZ Price at posting: 78.0¢ Sentiment: None Disclosure: Not Held
6 Upvote

1 Great analysis

Reply

Top Stories

NVO

Novo flags antimony and gold in the Pilbara – but does it need to step back?

Thursday's HotCopper trends: Second Amplia response, Race combo dosing | June 19

ASX Market Open: Stocks slide as Trump tosses up attacking Iran directly | June 20

HotCopper Highlights for Week 25: 4DS Memory, Meeka & Sprott-citement

Listen: HotCopper Wire Podcast 014 – Abu Dhabi wants to buy our 'true' oil and gas gem

AL3

AML3D opens new facility in Ohio as US Defence strategy bears fruit

PV1

Hydrogen tanker stock Provaris inks MOU with "K" LINE to provide advice

Friday’s HotCopper trends: Dreadnoughts's drill delight, Galan's beaut raise | June 19

Week 25 Wrap: Fed & BoE pause rates ahead of RBA; Santos-ADNOC, Oz tax reforms

PIQ

Proteomics notches up as company launches PromarkerD into the US

First 25 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.