AVZ hides dispute over title to vast lithium resource in Congo

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 .

So what was your price Tom? Direct from CCP, or just under the table from Zijin? I'm yet to read an article from you that isn't trying to do the ccp's dirty work for them. Sad thing is, when China is involved, laws and rules based go out the window.... with bags of cash

tommyr345 Tweet the real stuff tommyr345. You're a disgrace. I bet there's underhanded things littered throughout your life and career.

tommyr345 No mention of CEO of Cominier being arrested for selling off $avz asset? afr have turned into click bait shit. Read a better analysis in a zoo magazine

DRC investors should have learnt their lesson after Sundance No property rights

Joseph Kabila's brother Zoe Kabila. Let's, for the sake of poor journalism, call him J Kabila's sister Zoe 'Hey Mr Jones, how much you pay for the new guy?' '$20, no too much he no good Mr Jones' Hi I'm Zoe⬇️

🤡🤡🤡

🤡🤡🤡

Always inspires confidence when a journo can't even get the gender correct for someone they mention in an article. Maybe Tom needs to stop outsourcing his articles to Fiverr or Airtasker

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

AVZ hides dispute over title to vast lithium resource in CongoShares in the explorer raced to a near-$4.6 billion valuation in April before trading was suspended. New information suggests it concealed an ownership dispute from investors. 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. What a joke of an 'article' 😂 AFR has become trash 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.
Source: FinancialReview - 🏆 2. / 90 Read more »