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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.
Https://twitter.com/garysavage1/status/1771902134596108348?t=-1efQlLIV4LPNapTmk145g&s=19
DYOR
Mr Andrew Bell , Chairman of RRR has tweeted TWICE yesterday, Sat, 23 Mar 2024 @ 7.35pm and 7.36pm. Given he was silent, I was cognisant he can only tweet AFTER MKT CLOSES as norm [seen it on other stocks before?]. The 1st tweet merely said "No" to someone posting about the railway and the other reply was "100%" relating to HRH. Since, there is no PIC showing Mr Bell is back in the UK, one could or would or may assume he is still in the DRC. The share price of RRR has NOT dropped like a stone [as some might think] but this means the MARKET considers this event: "MARKING TIME." In terms of mkt CATALYST , ONLY the DRC arbitration AWARD outcome is of IMMEDIATE mkt interest at this time [share price does support this mkt theory.] So, relating to the arbitration, the burning question is: With RRR and other parties given the " D R A F T AWARD" and there is "AGREEMENT" between the 2 parties, it would be a matter of legal procedure for the Commercial Court in DRC to uphold this legal agreement Law 101. Even in divorce cases, where is is a pre-settlement legal agreement between the 2 principal parties to the divorce, the Court will have a short hearing to uphold the agreement between parties provided it is within REASONABLE accepted legal protocols of settlement. But IF, there is dispute, then a divorce case become more long drawn as LEGAL SETTLEMENT has to be fought in Court, inch by inch. So, with that in mind, is it a MATTER OF NOT IF, but when per Law 101 as above in an "AGREED SETTLEMENT."? One awaits Mr Bell's elucidation. All the forums that are usually busy are now quiet --lots happening. So, having explained my position, I have many other personal matters to attend to. I keep to posting rules which one can see on the RIGHT of this window BEFORE one can post message. So, NOT B or anything like that. Sun, 24 Mar 2024. The sun is shining and I have just done up the garden.
I'm loving this silence, no tweet to say I'm back in town, no leak, no one selling'' no stock LOL!! we could hear thunder @ 8am on any given day shortly IMO, as AB does love to talk, and it seems strange that he is not saying a thing ATM, the Nomad must have him on a tight reign to keep it button, and i make them right, considering how fast the SP could bounce on any whisper that he have got that cash...
I suppose we are on RNS watch again tomorrow
GL
ATB
I think the following from Helpful is a significant untruth
" ALR has exported so you can take it the ore is 3%"
ALR has not exported. The company ( RRR) hid for a while then reluctantly conceded all 200 tonnes of supposed exports were third party not ALR Lithium. So ALR has not exported.
Even if I gave Helpful the benefit of the doubt
Bell said in one of those ridiculous stockbox interviews all 200 tonnes were in Zimbabwe despite the Nov 23 RNS of exports and first truck leaving for Beira.
Lundy ( Helpful) said Bell was being imprecise. So Lundy and Bell have completely inconsistent stories.
It's actually a double fib. The 200 tonnes were all third party so the worlds worst Investment Advisor and 10% holder in ALR is being less than honest. Third party or not there are no exports as Bell said they are in the warehouse in Zimbabwe.
Ten years of watching this company and this is why the 200 tonnes makes the top five of RRR failures ( and the competition is stiff)
Bell and Lundy are contradicting each other completely.
Needs a clear clarification RNS - none of the Reach rubbish.
Great to be back holding Lundys feet to the fire.
Aim-- RRR has reported grades on it 's RNS However RRR was not mining but rather buying ore with the objective of exporting it to China. AB has stated RRR can not make money at the Lithium prices at that time. Obviously prices have increased since then so it is unknown if the price has increased enough to make a profit
In Zim the ore needs to be 3%+ to be able to export it. ALR has exported and so you can take It the ore is 3%+.
Https://youtu.be/wNM5gTjAsuw?si=peeFJquEjt0eEV6L
Bell needs to hire someone like this guy to do his interviews. Articulate, good information, not the wooly Bell style. Gave some info on green lithium. How does RRR grades hold up???
I doubt it and I doubt he has signed off on the deal
Always worth listening to what people have to say for themselves. Some interesting comments about production costs, shopping costs, spot prices and the lithium market.
https://youtu.be/b39sFN_hXcI?si=dkpk9cg4S7BzJ4kE
DYOR
Still in the Congo?
More irrelevant links from Lundy to start the weekend.
Question is wheres the funding coming from ?
By any measure they were out of cash a month ago so only possibility is a secured loan.
As ever from RRR nil disclosure of solid facts plenty of waffle and conjecture on X and via the Reach system of what might be aspirations and dreams.
As previously any secured loan probably through a Subsiduary. Given it recent won't be in six month accounts or 12 month accounts of subsiduarys as its a recent development.
The one I want an update on is Lithium. This 200 tonnes tale is one for the top five RRR memorable moments. And the competion is stiff.
Interesting! Might not be exactly right but the more people this, the better for gold.
https://twitter.com/RIFT_589/status/1771210992090796281?t=PWHanrPs6frZcnl8JoaISw&s=19
DYOR
Thanks NEWS'' a sensible deduction, and yes'' it's just a waiting game,
speak soon...
Range Rover-Why do you say the legal have sorted?
$7.5mil cash looks on for next week after likely spending this week getting the legals sorted
Since we are still waiting on news; I am reposting information on CDI. This will give the trolls something to whinge and dissemble about.
https://www.extractiveindustries.co.uk/red-rock-granted-second-gold-licence-in-cote-divoire-2/
Note we have two licences issued and we now await the issue of five more licences. Four have had the site visits and so should be issued relatively soon. Note that RRR had an information package for circulation at PDAC: we have not been updated on progress subsequent to PDAC but we know before PDAC that RRR was in contact with companies about our CDI activity.
Maybe another update due soon?
"We have already received an expression of interest from a company wishing to discuss co-operation or a transaction, and expect further interest." The recent interview with Kobo Resources (a neighbour) confirmed that CDI is an active jurisdiction for deals and M&A.
DYOR
So the big question now is what's the placing discount .
Obviously the trip to DRC has failed once again
My prediction well below current.
After hours RNS probably
Maidit308: Since you asked, here are my basic thoughts. Andrew Bell may be still in the DRC otherwise, he could show a pic in the UK. On 14,3.24, Mr Bell, Chairman, RRR showed 2 pics ie of "meeting" & "meeting to meeting" which suggest potentially, a meeting with the JV partner/counsel. RRR update stated: [1] All parties inc RRR given "DRAFT AWARD". [2] All parties "IN AGREEMENT". So, as in probate where there are 2 parties, the LEAD counsel must then prep A LEGAL AGREEMENT for BOTH parties to SIGN [notary etc]. Once signed , the LEAD counsel then SUBMITS the agreement etc to Court and asked for a short hearing for ORDER FOR SALE. Since the Judge sees both legal parties agree to sell, it will be APPROVED by the Court. Then , it goes to be STAMPED so that it becomes legal. SAME TYPE OF PROCEDURE here given RRR gave the outline of "DRAFT AWARD" & "PARTIES AGREE." So, NOT A "DISPUTED" award. Once the award is tamped, them a LEGAL DEMAND LETTER TO PAY will go to the payer and then they await payment. I feel that RRR could RNS that the agreement has been [1] signed by all parties. [2] Court hearing pending or heard and approved or not approved. If both parties agree, it is "legally uncontested" ie award. So, I am anticipating and hoping RRR ie Mr Bell will NOT wait but issue a update as above. That is my view based on basic principles of process. However, I think everything is in French so Nomad may want a English translation as norm --this should NOT take too long. I have NOT been given more than the RRR RNS so, that is what I am working on. If counsel is not filing, the lead counsel can be dismissed? Just got to wait. Fri, 22.3.24. NIA. DYOR. Or it could be not the above - just got to wait now?
Just goes to show how much you are missed NEWS LOL!! although your rambling words are cryptic at times, but H50 and us had genuine concerns, but I thought as much you was taking a break from the daily hostility... from the huge amount of actors we have festering here waiting and wishing RRR would fail..
anyway'' welcome back, and the subject matter today is if AB is still in DRC ? and why'' if it was only going to take a couple of days to get payment, perhaps you could shed some balance thoughts on this matter even if 2+2 = 5
ATB
Permanent Arbitration Institution - Dispute Resolution Center
Arbitration Rules (DRC Statute)
Http://www.drc-arbitration.ge/public/regulations_en.pdf
2021 Arbitration Rules
The below ICC Rules of Arbitration entered into force on 1 January 2021. They define and regulate the management of cases received by the International Court of Arbitration® from 1 January 2021 on.
Https://iccwbo.org/dispute-resolution/dispute-resolution-services/arbitration/rules-procedure/2021-arbitration-rules/
Arbitration and the Democratic Republic of the Congo
07/05/2023 BY ACERIS LAW LLC
Https://www.acerislaw.com/arbitration-and-the-democratic-republic-of-the-congo/