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News, from July 2019
https://www.youtube.com/watch?app=desktop&v=sN0qEQc-Epg
News you need to up your spy skills.
DYOR
Underexploited and mineral rich ,o Estimated $24 trillion of untapped cobalt/copper/diamonds/gold o Major supplier of the world’s cobalt needs o Prolific and historic copper producer
I SHOULD THINK BIG G'' IS MINTING IT BIG TIME IN DRC ON OUR BACK ATM, AND I HAVE EVERY FAITH THAT AB WILL GET THIS FIRST INNITIAL CLAIM OVER THE LINE, BEFORE WE GO AFTER THE BIG ONE TIME WILL TELL..
Helpful
Excellent. Highly recommended - 5 stars/5. I have tracked down ALL the RRR RNS/s of the time of the MUSONI JV. In fact, Proactive has disabled the old video interviews on this. Whilst folks moan over RRR's Mkt Cap of £2.38m WITH ASSETS vs AVZ WITHOUT any other asset which they are litigating about, the LAST MKT CAP WAS A$2.75 BILLION @A78c.!!!! Link to Hotcopper AVZ: https://hotcopper.com.au/asx/avz/ [It is still active with update]. Mind you, AVZ does not own 100% of Manolo lithium, DRC either. Manolo PFS stated to be $1bn+. DYOR.
Helpful $4 billion not a bad starting point. Do you know why we have not already started proceedings? Is it because we have to settle our other claim first or is it because it would cost too much money which presumably we have not got?
Doggie, slight variation.
If it can be shown that Musonoi plus the two other licences were sold for $430m (which I believe it can) then the minimum claim would be (($430mil less $20mil) x 0.51) plus interest. So $205mil plus interest of $80mil. However, the actual claim of loss is likely to be much higher. It depends on the advice RRR is given but the claim could easily be $4bn. RRR will need to get expert witness advice so that the loss claim that would stand up in court.
Before Boring Boy and his aliases get all excited, a claim of loss is where you start from; it doesn't mean that is the settlement or the award.
https://www.proactiveinvestors.co.uk/companies/news/312125/red-rock-resources-delighted-as-work-towards-jorc-resource-at-musonoi-mine-advances-12125.html
https://www.rrrplc.com/wp-content/uploads/2019/03/20190331_RRR_FINAL.pdf
RRR was actively working towards a JORC when access to the Gecamines core shed was stopped. RRR wanted to take quarter cores from the cores drilled at Musonoi to facilitate a quick route to a JORC. Likely, Musonoi would have been in production earlyish 2020 without the shenanigans. All relevant to the loss claim.
DYOR
Theoretical question Banburyboy as you are the biggest bear here?
If Bell managed to secure tha DRC payment (I know, don't go there) would you be tempted to put some cash in here with a view to the larger $430 million potential claim?
Working his magic over on PPP. The two year chart is worse than here which takes some doing. It's also down 30% today as well.
Where is our esteemed consultant he's very quiet.
Where is Mr Bell still in DRC ?
Flightman
There is NO RNS that states placing at "circa 0.4/0.5". From what I understand, RRR RNS, 16.2.24: AGM: "AUTHORITY TO ISSUE 1.5bn"[Resolution passed] has NOT BEEEN ISSUED to date. From recall, I think it was 0.6p+ [PLUS] but NEVER 0.4/0.5p so can you show EVIDENCE/PROOF please? Mon, 25.3.24.
In simple language, in case our chief resident, Banburyboy may not quite catch the litigation and what it is all about , even after all the RRR RNS.
Without RRR's knowledge, their JV partner in DRC -------SOLD-----Musoni to the state miner for some US$15m. This is subject currently to DRC litigation. It has ENTERED the FINAL ROUND given RRR RNS stated: "AWARD DRAFT" given to all parties and "ALL PARTIES AGREE."
2ND PART:
DRC STATE CO THEN SOLD ON RRR/VUP'S MUSONI TO A MAJOR, said to be US$430M [see RRR broker report which I have already quoted.] -----------THIS LITIGATION CANNOT BE HELD IN THE DRC IE LOCAL COURTS and usually goes to INTERNATIONAL TRIBUNAL. These are international courts to hear business , licence disputes etc. I recall AVZ's international tribunal case was held in Washington DC. ------INTERNATIONAL TRIBUNAL LITIGATION IS FOR THE ----------------LOSS OF THE ASSET IE MUSONI------------SOLD ON--------AS ABOVE.
BOTH LITIGATIONS ARE -----------NOT SIMILAR-----------NOR DO THEY HAVE TO BE TAKEN ONLY AFTER WINNING THE DRC LITIGATION but helps with money ie some money to put a deposit down etc. Mr Bell explained before but obviously NON -HOLDERS DONT LISTEN TO RRR INTERVIEW, BROKER REPORTS etc or DONT KNOW THE DIFFERENCE BETWEEN the above? As I said, Mr Bell HAS TO CLARIFY AND NOTHING WRONG WITH THAT ---ALL HOLDERS OF RRR WANT TO KNOW and it is their right to know. Mon, 25.3.24. [EVERYTHING IS IN THE RRR RNS, BROKER REPORT & INTERVIEWS] FOR THE AVOIDANCE OF DOUBT.
Placing coming,that's a certainty.
Insiders are not buying.
So obvious.
Circa 0.04/0.045
For CLARITY:
There is a difference between INTERNATIONAL ARBITRATION and DRC Commercial litigation. In the former, it is held at international legal centres. Helpful said that for RRR, under the Treaty of Rome, it has to be held in LONDON or Switzerland. RRR has NOT yet filed for international arbitration like AVZ for the Manono lithium project in the DRC. BUT, should AVZ WIN the FINAL ROUND [both sides to present their legal arguments], then the legal pendulum swings in favour of AVZ. HOTCOPPER AVZ: AVZ is not currently trading due to the fact that the co has NO OTHER ASSETS. But clearly the shareholders ie AUSSIES understand the mechanics of the legal case and NO ONE is posting in the same style as here. Everyone is waiting. DRC - they already will be aware of the FINAL ROUND of AVZ's international litigation and therefore, RRR may follow suit IF Mr Bell consults further. AVZ was financed by Locke , a co to the tune of $20m for the litigation. To Theeeeduke question: You can go to Hotcopper AVZ to see that the FINAL round as above has NOT taken place yet - only an interim ruling. PRECEDENT CASE LAW: It just shows that cases can be WON in the DRC but each on its OWN LEGAL MERITS. SHAREHOLDERS OF RRR: To the comment about: "Talking about $400m BEFORE you have got $7m is....[cannot be repeated] ----------THE LITIGATION in the DRC by RRR is to obtain $10m TO BE paid BY THE STATE MINER to the JV partner /RRR for Musoni [of which this is NOT a FRESH case but many already won etc]. =========BIG DIFFERENCE BETWEEN DRC LOCAL COMMERCIAL COURT LITIGATION VS INTERNATIONAL ARBITRATION : That Mr Bell, Chairman of RRR will have to CLARIFY to shareholders. At International Arbitration, it is ABOUT LEGAL LOSS OF THE ASSET IE MUSONI, the 2nd part. OBVIOUSLY, THE DIFFERENCE BETWEEN INTERNATIONAL ARBITRATION vs DRC Commercial Court litigation is NOT UNDERSTOOD by Banburyboy and his remarks is totally out of order in name calling given he is NOT EVEN A SHAREHOLDER OF RRR or if he has decided to buy, then a London lunch's worth. ALL SHAREHODLERS WANT TO KNOW ABOUT INTERNATIONAL ARBITRATION and THAT IS THE RIGHT OF SHAREHOLDERS in any update to come. DYOR. NIA. Mon 25 Mar 2024. Not editing.
Lundy stating the obvious "you don't get redies until an award is made".
Perhaps on that basis the company should cut the hyperbole [ two versions of the 30th June 23 accounts prepared one with award one without by way of illustration thats ridiculous] and not over blow the prospects here. Talking about $400m before you have got $7m is unhinged and unbalanced.
What is the point of Lundy. Let him be judged by his failures. The SP has declined ten fold since he started his non stop ramping. He has some serious "neck" even showing up as an Investment Analyst with a record like that.
Thanks for your information and thoughts NEWS'' and I'm sure this wait is good news, and will be over shortly
ATB
speak soon
You don't get readies before the award is made. Legally stuff 101. Unless there is a settlement.
Lundy been looking in the mirror again.
"Lundy is just an attention seeker. He has nothing to contribute"
The view of most on here is endless links to commodity prices and predictions by self appointed commodity experts, fully meets the criteria of nothing.
DRC proceeds this week or will it be put on the back-burner ?
Not sure when the POW meeting is. Major PIs could / should use it to put a rocket under Mr Bell about Lithium and DRC.
Typo - Threat = thing
News - Have AVZ actually received any money yet ? I think the answer to that is the biggest threat by to take from your post.
Blueboy is just an attention seeker. He has nothing to contribute. I am aware of the asset and the story. AVZ spent years and a lot of money on it. Supposedly that part of DRC is full of lithium.
See what I mean, folks. Any wonder why I did not post and REASON why I will NOT NEED TO POST again. Just trying to share the latest on DRC litigation which will be of use when it comes to RRR's DRC litigation. Why? It is called precedent law case. It is going to be very difficult for the state to argue their case in AVZ when it has already lost the INTERIM RULING and now the MANONO LITHIUM DEPOSIT HAS GONE TO AN 3RD PARTY ----------whilst the lithium project ---is subject to INTERNATIONAL ARBITRATION. News, Sun, 24.3 .24.
HAWAIIFIVEO -There's your PROOF WHY FOLKS DONT WANT TO POST ON THIS FORUM due to sharing does not meet with any thanks.
It's not the typo's you need to apologise for 🥴
Lots of typos, sorry.
Sorry , press post by accident.
ie the PFS valuation can grown to even more than US$1bn for Manono. Same goes for RRR MUSONI. It is a LOSING BUSINESS FOR THE COUNTRY. So, Mr Bell can convey to the President that it is best to SETTLE the matter of MUSONI now that the AVZ INTERNATIONAL ARBITRATION ENTERS ITS FINAL HEARING WITH A WIN ALREADY FOR AVZ AT THE INTERIM RULING.
All very reasonable and logical. With hind-sight, their Geo dept should have done some work on it and the process that way would have been more paying for the country, but now, it is possible the PAYOUT for AVZ is going to be MEGA with interest etc.
---------------RRR VS DEFENDENTS AT INTERNATIONAL ARBITRATION : TIME IS TICKING ON AND THERE IS A LEGAL TIME LIMIT TO FILE FOR A WRIT. MR BELL, CHAIRMAN OF RRR WILL HAVE TO INFORM SHAREHOLDERS SHORTLY ON THE DRC LITIGATION MATTER BOTH IN THE DRC AND AT INTERNATIONAL ARBITRATION. Sun, 24 Mar 2024.@6.20pm. DYOR, NIA.
Please CHECK.
----------JUST CHECKED: MANONO LITHIUM PROJECT, DRC--------
Yes, I think that DRC's state miner player may have handed the project ie Manono to Zijin to develop!!! My word, this is getting even more complex. When the ISCID hears the FINAL HEARING, they will surely ask what is happened to Manono lithium project and they may hear [press reports etc] that the minor JV partner in dispute with AVZ may now become the DEVELOPER? All very confusing isnt it?
--------------------MR ANDREW BELL, CHAIRMAN OF RRR.------------------
I heard perhaps on this forum that Mr Bell has some lines of communication to FELIX the President of DRC. If so, I think that Mr Bell can convey that this is not a paying business for the state. Why? They sold the licence of Manono to 1 chap for a few mil. Now, the PFS is OVER US$1BILLION [& if there is an updated PFS, the deposit can grow even larger given it is
I will simplify the long tale of AVZ vs DRC Cominiere. 1stly, AVZ has been SUCCESSFUL in its ICSID [INTERNATIONAL ARBITRATION COURT, not the same as ICC] via an INTERIM RULING. Next, will be the FINAL EPISODE , again at ICSID wherein AVZ of Australia will argue at the int. court vs DRC's Cominiere of which I believe the DRC govt will be responsible for their state mining co? The matter of Zinjin is of a different matter as it is against AVZ not upholding their JV sale etc and this is a matter of the DRC COURT. In AVZ's case --as with many of these LICENCES, folks just walked up to the state miner and GOT A LICENCE with "entry fee" etc. Then, it gets SOLD ON or licence taken back etc=DISPUTE.
In AVZ's case, the article said that VALUATION OF US$220M is rather something common but AVZ had a PFS with NPV of OVER $1BN USD. From my research, for RRR JV, THERE IS A PFS OR SOME STUDY DONE = VALUATION . The point of AVZ illustrates that the DRC GOVT MUST BE SHIVERING as the PAYOUT IS GOING TO BE MEGA SHOULD THEY LOSE THE FINAL ISCID FOUND and INTERIM ALREADY WON BY AVZ [who have a string of wins]. I am not sure if MANONO LITHIUM LICENCE has been SOLD ON from the last I checked. ==========RRR DRC ARBITRATION==IT IS NOT POSSIBLE THE DRC GOVT OR COMINIERE IS NOT AWARE OF AVZ 'S ICSID CASE AS THEY ARE THE DEFENDENTS -------SO, RRR 'S ARBITRATION IS OF INTEREST as Mr Bell, Chairman of RRR stated in the international mining community. IF the MAJOR in going to be named as the defendant to come potentially, they too must be shivering as norm as it is not only about the payout potentially but it is against UK law and by extension, mk rules. LET SEE WHAT MR BELL WILL SAY. News, 24.3.24 [Sun]. All this is commonly known and there have been many cases before of London listed co's and such ISCID cases. But looks like the path is more well travelled now with the AVZ ISCID case in the works for the final show?
I am updating myself on the AVZ Minerals, ASX Australia listed litigation in the DRC as it would be an eye opener to RRR litigation as above, both in Kinshasa, DRC and then International Arbitration. The titles are:
[1]"The curious case of AVZ, the Congo and the BIGGEST LITHIUM DEPOSIT ON THE EARTH."-Business News, 5 days ago. [2] "Manono Lithium/ICSID: What does the FRENCH Ministerial reshuffle mean for the arbitration."-African Business Plus, 2 wks ago & [3] "Z I J I N'S CASE against Australian AVZ over stake in Manono Lithium Project to be HEARD IN DRC C OURT."-Yicai Global, 6 days ago, 18.3.24 .
ZIJIN - they were told by the International Court that it does not have the "JURISDICTION" to hear the case and it must go to the DRC Court. Zijin said AVZ "failed to recognise Zijin's 15% purchase of a STAKE in a JV------controlled by AVZ ---which held the concession." In the article of [1] above: "MANONO sports a BIBLICAL SCALE OF 842 Mt of 1.61% lithium. The story: DRC owned 100% of the Manono licence. DATHOMIR secured an OPTION of 70% to do certain things eg DFS and pay ==US$6m==AS ENTRY FEE. Cong of Dathomir did not want to put his hand in his pocket so OFF-LOADED most of Manono to AVZ of Australia . Cong would retain 10% and AVZ 60%. DRC held on to 30%. In a dispute, agreement as norm with shareholder groups would be INTERNATIONAL ARBITRATION. Dispute then ensured between Cong & AVZ and the latter sought INTERNATIONAL ARBITRATION. ------"DRC QUIETLY ATTEMPTING TO OFFLOAD 15% OF ITS 25% to C parties without giving AVZ 1st right of refusal to buy the shares as per the DARTHCOM AGREEMENT. DRC GOVT LAUNCHED AN INVESTIGATION INTO COMINIERE -appropriate or legal. Violation of mining code... Cominere valued it at Us$220M BUT AVZ & DATHCOM DFS showed project's POST NPV AT OVER $1BN. --AVZ OPENED A 2ND ICSID [not ICC] LEGAL CASE===JAN 2024, AVZ ---WON AN INTERIM RULING FOR DRC GOVT TO RE-INSTATE SOUTHERN PORTION. FINAL RULING WHEN ICSID HAS HEARD ---T W O SIDES." AVZ has bag of favourable rulings and prepares for the final episode. [All from the article with no changes - to read , call up the title.] Very interesting and as said, all not unknown and let's see what Mr Bell , Chairman of RRR has to say on RRR Arbitration and ICSID international arbitration. Sun, 24.3.24.