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

AVZ

0.00%

78.0¢ avz minerals limited

News: AVZ AVZ Minerals Provides Arbitration Proceedings And Legal Update, page-19

First 19 Last

Share
Profile

Follow
lekie

40 Posts.

2

21/10/22

10:08

Post #: 64315237
Share

Originally posted by Stickyfingers01: ↑

I am just an a simple tradie and know nothing about mining/international laws and regulations, this is just my opinion of todays anouncement.

To me it seems pretty self explanatory if you read the anouncement that it is a positive for AVZ and that both separate issues are nothing more than corrupt entities trying to muscle their way into the project or attempt to extort AVZ out of an already agreed purchase price.
Unfortunately this is what happens when you own the rights to the largest hard rock lithium project on the planet amidst a global shortage of the mineral.

Zijin arbitration-

The arbitration proceedings before the Chamber of Commerce in Paris (ICC) that were instigated by Zijin (subsidary) has issued a ruling in FAVOUR of AVZ.
That same arbitrator will now hear AVZ’s jurisdictional challenge.
As AVZ have always followed the correct legal procedures, this will eventually prove that AVZ in fact had their pre-emption rights breached.

This is already well known due to the corrupt dealings between Zijin and Cominière but will likely take some time to complete but is necessary to once and for all prove that Zijin have no legal ownership in the project.

As for the DRC tribunal -

There was a tribunal held in the DRC that AVZ were not heard at or invited to.
That same tribunal granted a request by Dathomir for the suspension of the sale of a 15% interest in the Manono Project to AVZ.
As AVZ have always followed and fulfilled the correct legal procedures it can easily prove that they completed each of the Dathomir SPAs in August 2021, including payment within the required time period, and thereby legally acquired a further 15% interest in Dathcom.
The same DRC tribunal also acknowledged that only a properly constituted arbitral tribunal has jurisdiction to overturn AVZ's acquisition of a further 15% interest in Dathcom from Dathomir.

So essentially the decision at this stage means jack all until a proper arbitral tribunal rules against them, and as AVZ have followed all DRC laws and regulations it will be easily proven but again will take time.

As for the Momentum lawyers tweet, I am just sharing information I have come across to fellow holders, what you make of it is up to you.
But maybe instead of acting like a twat you should do some of your own research so maybe you can understand what's going on instead of making immature remarks.

Just a reminder to all that doubt it, straight from the company's latest anouncement dated 20/10/22 -

'AVZ confirms that it retains legal title to a 75% interest in the Manono Project and its pre-emptive rights over the balance of the Project.'

Expand

There was a tribunal held in the DRC that AVZ were not heard at or invited to.

what was the legal authority of this tribunal and who was it constituted by?

AVZ Price at posting: 78.0¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

DTM

Dart on-target for high-grade structures and multiple reefs at VIC's Rushworth

ARU

Arafura updates on total US$1B funding as export banks and lenders take notice; heading toward FID for Nolans

PLS

Pilbara sees 26% lithium production growth from Pilgangoora in June quarter

M4M

Macro Metals picks up 80% in Firebird's manganese plays; mining services operations to launch if decision to mine passed

Pilot Energy awarded $6.5M in govt funding for Mid West Clean Energy Project

There are more pages in this discussion • 51 more messages in this thread...

First 19 Last

Add AVZ (ASX) to my watchlist

News: AVZ AVZ Minerals Provides Arbitration Proceedings And Legal Update, page-19

Top Stories

Dart on-target for high-grade structures and multiple reefs at VIC's Rushworth

Arafura updates on total US$1B funding as export banks and lenders take notice; heading toward FID for Nolans

Pilbara sees 26% lithium production growth from Pilgangoora in June quarter

Macro Metals picks up 80% in Firebird's manganese plays; mining services operations to launch if decision to mine passed

Pilot Energy awarded $6.5M in govt funding for Mid West Clean Energy Project

Featured News