Hi Toratora,My understanding of the technical side of the mining...

Hi Toratora,

My understanding of the technical side of the mining licence is that they had 60 days to make a decision on this part of the mining licence. If they didn't give a decision in that timeframe then the licence would be awarded by default. I believe that 60 day period started in late September and we should have an answer prior to the November 30 deadline for conditions precedent of the CATH deal.. Note that I remember reading somewhere that this process had started in late September but can't remember where so contact head office for clarification.

I would imagine that they only start deliberating on the technical side of the mining licence once the other parts of the mining licence have been satisfied, hence the start date of late September instead of 17th of May 2021 when the licence application was lodged.

The ASX announcement " Cornerstone investor Secured for Manono Project" on the 27 September 2021, specified that CATH have the ability to "waive the conditions precedent" (extract below).

Conditions precedent to completion
Completion of the transaction is subject to satisfaction or waiver of the following conditions precedent
before 30 November 2021

There is a possability that the "waiver" clause was introduced knowing that the technical side of the mining licence had commenced and that the licence would have to move slowly considering that the DRC is looking at other mining licences that were awarded by previous DRC governments, which were possibly not in the best interests of the DRC. Also CATH could extend the deadline if needed I would think.

I think that you can take a fair bit of confidence in the fact that AVZ are mentioned on the agenda of the DRC business forum and that CATH wouldn't have invested without doing due diligence and would not want to enter into an agreement that wasn't going ahead, noting that CATL would also need Copper, Cobalt ect in large quantities possibly from the DRC.

Just my thoughts and how I manage the waiting game, but one thing is for sure, once the mining licence is awarded and considering that AVZ could be potentially be providing up to half of the world's litium in 2024 then the SP should be a lot higher than where it is now.

All the best to all holders
Not finacial advice
DYOR
GLTAH