AVZ 0.00% 78.0¢ avz minerals limited

Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-38

  1. 13,079 Posts.
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    Holding funds for settlement in escrow for a transaction claimed as being completed including payment for years is not immaterial

    Avz statement that it duly competed including payment is in dispute- the icc will rule on weather they have duly competed

    the fact that the funds are still being held by Avz layer in escrow should have been disclosed to the market immediately as it would have highlighted there was in fact a material dispute between the parties and avzs claim to 75 percent of dathcom

    the icc is going to rule on avzs position that it duly executed and completed including payment

    the market should have been informed that payment has not been affected and that it is in a settlement dispute with Dathomir back in aug 202 and that it is taking legal actions to affirm its position and have the contract terms enforced

    if it did this- disclosed this fact , the shares would not have taken off - catl probably would not have come or stayed on board and investors would probably not invested due to this material risk disclosure and the market capital value of the company probably would not have reached 2.8 plus billion as the market was working under the assumption until the mining
    Lic decree that the dathomir spas were settled no problemo and Avz owned and controlled 75 percent of dathcom

    which in fact it didn’t-

    it was in dispute over the 15 percent it purchased from Dathomir which had not settled

    probably would have helped as well if it had disclosed that Dathomir had taken avzi to a tribunal and high court a few months later

    but nothing—-

    it then went on to raise capital claiming ot had 75 percent of dathcom and was in advanced talks to by another 15 percent from drc—

    -fact is they owned 60 percent and was claiming 15 percent legal title for additional 15 percent in dispute for contracts not settled with Dathomir

    market grossly misled imo - their case now in icc is arbitrating if Avz did duly compete validity executed contracts

    the fact that it didn’t not compete Dathomir spas and was in an immediate settlement dispute
    something only vaguely mentioned in brief in may 2022 with Dathomir should have been disclosed to the market - It’s obvious to any reasonable person now that the facts are coming out imo

    if you saw - Avz annouce that it’s options to purchase an additional 15 percent from Dathomir have not competed- the money is held in escrow and Avz is now seeking enforcement of its rights under the contracts in the icc to force the completion of these contracts would you have bought shares thinking this company is derisked- I’d argue probably not

    Intereting to k ow if the lawyers advised Avz not to disclose this material information and dismiss it as without merit whilst funds were being held in escrow or if it was Avz who decided - ahhh don’t disclose that it will ultimately hurt our performance rights and our personal fortunes

    and don’t mention it when we raise a truck load of capital from investors at much higher prices post aug 2021
 
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