Done some digging on Avz power. Loosely translated “the business is for the study and development of projects in the electricity sector; particularly hydro, solar, wind, and thermal energy in the DRC it will thus be able to produce transmit dispatching distribution and manage the electrical networks for the import of electricity or market electricity on behalf or for third parties.”
There’s a decent trail of bread crumbs for those willing to do the digging. Avz power was first mentioned in April/May last year one month after this was registered as a business, which as confirmed as an official subsidiary of Avz minerals as per the recent annual report to shareholders. Further re-iterated from comms as commercially sensitive yet all very quiet.
When you consider the parties involved in the Manono transaction were previously responsible for the Piana hydro facility upgrades and Avz has now set up to by vertically integrated in that field. Recall sicomines, which is a state owned Chinese firm was the mob performing those upgrades. Might just be a handy way to vertically integrate and sell hydroelectric credits or potentially there’s a larger scheme at play which is intrinsically linked with the project acquisition percentages and a perspective JV re Avz power.
All I can infer at this stage, definitely a talking point for me when given the opportunity
(20min delay)