Hi Mute, this is what I took out of Tuesday night : AVZ Board...

Hi Mute, this is what I took out of Tuesday night :

AVZ Board have launched a formal complaint with ASIC for SP manipulation. Board do not believe ASIC is doing it’s job.

Mining approval : current govt has cancelled 100+ licences in the DRC granted by previous govt. DRC Mining minster urging AVZ to submit ML. Approval will take 6 weeks to 6 months. Hopeful of lower end.

Schedules : NF jokingly said he now hates the word there’s been no serious deviation in schedules, must remember no one has been able to get the DRC for fourteen months and that would have an effect in any business.

Nevertheless Ben has been able to complete OT on schedule via zoom etc. Tin OT done at $19-20k per tonne, now at $30k, not to worry there are rise and fall clauses in each agreement.

Power will be sourced from the existing hydro, two generators to be replaced at a cost of $?m. AVZ obliged to supply power to the villages starting with the hospital.

Finance : two contenders/consortia want to be selected to fund operation. Hinted that some SH in the room might know who they are?!

Most building tenders have been let and placed. Processes are in place for a go ahead.

Board control 3% of all shares. Aware of SP challenges and that they are endeavouring to enrich SH value as much as possible.

Board aware of responsibilities for granting of a SEZ. Dollar figure mentioned but can't remember what it was worth. AVZ reps in DRC doing a great job with reps of DRC govt.

First time I’d met Nigel Jan and Ben and impressed with their performance and grip on where AVZ is at.
IMHO Nigels’ grasp of detail super impressive. At a chat afterwards he told me the story of he and Klaus going to Manono in 2016 and what they were looking for and his early tests.

Beer was cold, horse doovers delicious.