I am not a regular poster, but I have come out of hibernation as a result of the AGM to share my thoughts on this debacle.
1. I have valued my AVZ shares at $0 since shortly after they went into suspension and it became apparent that the shareholder notifications that AVZ had been publishing on the ASX exist in a completely different reality to the DRC governments view.
2. Your shares are also worth $0, whether you choose to acknowledge it or not. Corrupt or not, the DRC government is the body with the final say in development of Manono. Even if an international arbitration is successful they can just ignore it,. With DRC actively positioned against us, we don't have a controlling stake, no mining license, no viable path to producing future cash flows for shareholders.
3. This is a furniture saving excercise. I voted for a new board because the existing one f***d this royally. If I can get a cent on the dollar I will consider it a win.
4. More so than the average Hot Copper forum, there is a sad absence of meaningful useful analysis and info here. Only unedifying personal insults, which leads me to believe that most smart holders feel the same way I do and have switched off.
I hope for a quick resolution and wind up of this company, returning what little capital they have left to shareholders so we can move forward. Only the lawyers are making money at the moment.
Oh - as an aside, my favourite part of the AGM materials: "Mr Hujlich is a former director of the Company and associate of Fat Tail Holdings Pty Ltd, to whom Mr Huljich transferred his shares in July 2023 for less than fair market value". I find this instructive of the Board's state of mind that they suffer from the delusion that they know what the fair market value for AVZ shares are.
AVZ Price at posting:
78.0¢ Sentiment: Sell Disclosure: Held
