This is devastating for shareholders.
I did predict that the DRC will not comply, here:
70597286
, and here:
70600401
, here...
70601491
,
70601532
,
70601570
,
70601676
,
70601952
,
70602025
,
70602910
, and
70602025
.
Now... we have ASX:AVZ saying:
"Cominiere's failure to comply with the emergency orders made against it including the grant of emergency orders in the Company's favour by the International Court of Arbitration of the International Chamber of Commerce (ICC) tribunal on 5 May 2023 and on 15 November 2023 in ICC Case 27720;" source: 30/04/2024 ,ASX:AVZ, Update on ASX Listing and
"the DRC Government's failure to comply with the interim orders made in the Company's favour by the International Center for Settlement of Investment Disputes (ICSID) tribunal on 16 January 2024" source: 30/04/2024 ,ASX:AVZ, Update on ASX Listing
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02801724-6A1205497
The worst statement in that ASX announcement is:
extract from source: 30/04/2024 ,ASX:AVZ, Update on ASX Listing
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02801724-6A1205497
They are going to start selling assets? Possibly "one or more"?!!??!?! This could include Manono.
The irony is that shareholders would have been in a better situation with Fat Tail. I wouldn't be surprised if we find out that the board were behind creating Fat Tail in order to make a smoke screen to shield themselves and reflect ire from them to Fat Tail. If true, it was a master play. I believe Shareholders should have removed as much of the board as possible at the AGM.
What is their plan if the DRC refuse to comply? .....
