Suspended lithium explorer AVZ Minerals kept an ownership dispute over rights to 15 per cent of the Manono lithium project – which has access to a major resource of the vital battery metal – hidden from investors for nearly 10 months, new information shows.
On August 4 last year, AVZ’s lawyer in Kinshasa wrote to Cominiere to urge it to abandon negotiations to sell a 15 per cent interest in Manono to state-owned Chinese miner Zijin. Dathomir is reported to have obtained Congo court orders in December last year to have a deal annulled in which it sold a separate 15 per cent interest in Manono to AVZ for $US20 million in August last year.
It said the December capital raising was partly to help it buy the 15 per cent stake from Cominiere, but never disclosed it had been notified the prior July about Zijin’s intention to buy the stake from Cominiere.The Australian Financial Review.Last week, the picture got murkier for the explorer when it disclosed the findings of a Congo government audit by the General Inspectorate of Finance .
Why in the world does the financial review employ such obviously incompetent journalists.
AVZ a shell company?
BoatmanCapital Last night IGF explains corruption, evidence and papier trails - even arrests started at Cominiere - more to come Good luck with your short on $AVZ
Corrupt or not, Avz offered $15 million for 15% in 2019 and 2021 but now says '$150 million'. AVZ said it had the 100% right of first refusal for the other 30%, but sold to Cath without respecting the other shareholders' right of first refusal, that's why the others are angry.
$AVZ baggies should have invested in good miners like the big daddy of Lithium $PLS WA the DRC any bloody day of the week.
$AVZ is a complete mess, DRC eww.
AFR was once a solid respected platform. Now it hires any dogshit journalists willing to write anything to get paid by dodgy short selling firms who hide their identity. There's a real story here of an upstart Aussie company battling corruption to make it. Instead we get this.
$AVZ baggies bamboozled by the truth. This won't end well!
Looks like tommyr345 just summoned an $AVZ bagholder convention with this article
Look at the 1st gif that appears when you type TOMMY…
AVZ hiding something? NOOOOOO.....🤣🤣🤣
This journalist is getting worse and clear lack of research is the norm for him, the omission of relevant facts appears intentional
Interesting that afr allows this 'journalist' to continue his personal vendetta against this company. Very disappointing from a major Aussie publication. A lot at stake for the Aussie investors here & afr feeds the misinformation instead of seeking truth.
Come on tommyr345 and can you bother to fact check before publishing? All you had to do was to google Zoe Kabila to fact check that HE is in fact the brother of Joseph Kabila. What else did you not bother to check The entire article I'd suggest
Seriously this looks like an article written straight from Twitter facts. This gentleman Tom Richardson must have something against this stock. One must be pretty sure if there is an anomaly that the ASX would have acted. Must be quite on the story front.
It is indeed a fact that $AVZ failed to disclose material legal disputes in 2021. The views of your article are balanced. Media can play an external governance role. AFR has set a high standard for this role. Keep up your good research and ethical work.
tommyr345 What a joke of an article! This is non factual and clearly Tom is been paid by Boatman Capital. I suggest you remove tommyr345 and hold an internal enquiry to his shady dealings. $AVZ
tommyr345 What a joke of an article! This is non factual and clearly Tom is been paid by Boatman Capital. I suggest you remove tommyr345 and hold an internal enquiry to his shady dealings.
What a joke of an 'article' 😂 AFR has become trash
This is dogshit journalism. It is embarrassing that thought it was worthy of being published. The story omits basic facts and is clearly an agenda driven piece by the sad pathetic troll tommyr345 that can't accept he was wrong.