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78.0¢ avz minerals limited

Ann: Results of Annual General Meeting, page-133

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rrossingg

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02/12/19

09:18

Post #: 41740834
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Originally posted by Deboss ↑

Firstly, thank you to @1958bulldozer , @grassseeds , @Smiile , @maxava & @Panda7 for their HC posts on the AGM……….. I agree with most of their views and opinions so I won’t reiterate on the points already reported on.

IMO, the opinions expressed by these posters, as well as Friday’s Company Announcements……… ‘AGM Managing Director’s Address’ & the ‘Annual General Meeting Presentation’ give shareholders the perfect snapshot of what to expect from AVZ in the near future.

I would like to refer to the following statements by our Managing Director………

“We’re looking to secure DRC Government benefits by way of supportive tax incentives and exemptions.

We’re in ongoing discussions with a number of interested parties around longer term partnerships involving offtake, offtake financing and strategic investment.

We continue the process to secure additional equity in the Manono Project from our main partner – La Congolaise D’Exploration Miniere.”

IMO, all of the above statements are well past the ‘initial’ negotiation process……….

“We have appointed a highly experienced Project Director, Michael Hughes as well as strengthening our Board and executive management team to ensure we have an appropriate mix of geological, metallurgical, engineering, project development, finance and public company expertise to take our world-class Manono Project into development.”

I for one couldn’t be happier with the composition of the current Board and executive management team, and I congratulated Nigel on his selections. No need for me to discuss the attributes and strengths of Graeme Johnson (our Technical Director) but I will share my thoughts on the new appointments………. Michael Hughes (our Project Director) displayed his vast experience, knowledge and passion during his presentation………I see Michael as the perfect person for this important position. Peter Huljitch has the experience we require especially when it comes to negotiating and commissioning power plants. Peter has been involved with negotiating and securing the implementation of a few power plants over the years. I have no doubt AVZ Power will be the next one shining on his resume. Serge Ngandu is Congolese with a large professional, corporate and Government network and very well respected in the Democratic Republic of Congo. After talking to him, I have no doubt he is a great asset especially when it comes to negotiations with Government departments.

Along with most others at the AGM, I was disappointed that a bureaucratic paperwork error prevented our new Chairman John Clarke attending. I posted my thoughts on Me Clarke's appointment on 15 November here: Post #:41391514
It would have been beneficial having a face to face chat at the AGM, however I guess this will have to wait for another time.

“All in all, we have an incredibly exciting 12 months ahead of us and I look forward to your ongoing support and commitment.”……….. IMO, our Board and Management team have our Company perfectly poised to take advantage of any forthcoming opportunities that may present themselves. It wouldn’t surprise me if these opportunities appear sooner than most of us think.

From my observations, the mood at this AGM was extremely positive……… The exact opposite to the mood at the 2018 AGM. Considering our share price was nearly double (around 8c) this time last year, it showed that investors are finally realising that our current 4.3c sp is not a true reflection of this Company’s worth.

Re Huayou:

My impression at the AGM listening in on Huayou via their attending representative fielding questions from shareholders including myself was that they have no plan with AVZ........... are taking a further backseat now that Yibin are in, with one word of possible caution (see below), and probably want to retain their Board seat to save face.

I think Huayou are flat-footed ever since the butt fell out of the cobalt price. Still, credit lines should be available to them considering their investments elsewhere…………… Either way they have not been proactive and despite the non-binding SR status with AVZ.

It’s unclear if Huayou will support Yibin’s SI into AVZ…………. Likely not considering CATL look poised to displace them. That Ruiyou shell and MINOCOM looks really defunct............ Unless of course Huayou still have a mining plan up their sleeve. They do have a presence in the Congo so need to be respected for that.

In any case I couldn’t see a demonstrative positive effect Huayou have had on moving the Manono project forward............... Perhaps I’m still under-informed as an ordinary retail shareholder, but you would think Huayou would be able to say something on the relationship with AVZ and what they are doing.

In any case, shareholders would need to be vigilant and decide going forward whether they want Huayou to detract or block the Yibin investment or void their influence by ensuring (as a shareholder) they vote when the time comes (I’m assuming a pro-Yibin stance). Unless of course something left of field hits us with another bid from another competitor.

Personally I would like to see Huayou eventually sell to limit assumptions that there is a Chinese conspiracy at hand……….. But I believe they will buy on market should the Yibin deal go through. Shareholders, as I said would need to be vigilant during holiday period and ensure they vote in a way that progresses the project................. Huayou are NOT giving the right signal in my view.

Therefore, shareholders in my opinion should ensure they vote for the Yibin deal to counter any attempt Huayou may try to block its passage......... if we get to the point of voting on the Yibin Tianyi placement.

@dossandt , I did save a seat for you next to me at the AGM.......... but alas you never turned up………… IMO, your 10cps exit price is not too far away.

I would like to thank the AVZ Board and Management team for the direction they have steered this company over the past 12 months. IMO, the current share price doesn’t in any way reflect the positive position this Company is now in.

All IMO & DYOR

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Thanks to all who attended the AGM and posted their take of the meeting.
More than a few of the questions I had have been answered.

GLTAVZH's 2020 and beyond

AVZ Price at posting: 4.3¢ Sentiment: Buy Disclosure: Held
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