looking at any further corruption regarding the northern parcels of land that were mentioned, it appears Zinjin mining has acreage to the south.
I was worried there would be corruption facing the renewal of those parcels but really our assets are in the awarded licenses and irrelevant apart from opportunity.
Todays 20% drop is because the market got surprised with AVZ
acknowledging a 15% sale was already completed to Zinjin. Whilst silly us are talking to the government / president about that sale... Oops, we should have known better and done it with bribes?
Nevertheless, We Continue to hold 51% and this appears to be completely forgotten
Remember a favourable technical opinion would look at legality of holding so there is no doubt we have legal holding of this 75%. Its black or white on this one and we wouldnt be on the battery council if we didnt hold this position
We sold 24% to CATH for 240m
So lets say its a 10b operation -
We have 51% now = 5.1b - that's still along way from today priceAs for the other 49%, that is now 24% CATH + 10% DRC + who has the other 15%? It was meant to be us and will still be, but the market thinks we lost something we didnt have either way.... DUMB
On the contrary, the S
horters purposely hit all the stop losses, I expect they have been reversing those short positions throughout the day now at the expense of ALOT of short-sighted investors. I hope it wasnt you...
We should have a speeding ticket tomorrow (i expect it will be positive giving Nigel an opportunity to do better) and formal license + CATH Funding + BFS -
Those shorters that stole your shares are likely to be long ready to reward from the shares you sold...contrasting that we welcomed another 152m new shareholding - Welcome to AVZ - You did well buying at good prices..
This massive volume will serve us better in getting rid of those short-sighted holders, as well as a fair chunk of institutional shorting (well played)
Truly a bad day for AVZ and a Bad day for anyone believing ASIC and the ASX is a fair market..... Therein lies the opportunity...
