Because now the DFS has a done, the JV Dathcom is at a contractual crossroad.
AVZ will either need Dathokor to step up or step out and sell the remaining %s.
That may be difficult to negotiate.
It’s possible that’s why AVZ is at or around 5.5cps.
If AVZ has secured the rights to 5% then another 10% with share price where it is keeps the ball in the park of affordability I suspect.
Simon Cong and his Congolese friends have a decision to make. Same with Cominiere.
Cominiere however ultimately being under the auspices of the Portfolio ministry has more negotiation points including the SEZ tax breaks.
5% is a start but for project interest and bringing in any JV partner or improving NPV data points, AVZ needs more chips on the table than 60-65%. Unless Dathcom partners have money holed up ready to use for the Manono project. Unlikely.
So as Nigel has hinted in past write ups, and shareholder meetings, those %s seemed required are agents of rapid transformation for the project