AVZ - AVZ Minerals

[Sean K]

Not only you, in all likelihood.

AVZ Minerals has extended its suspension from sharemarket trade until January 31 or until it can make an earlier announcement to the market.

It says the suspension that has been in place since early May is necessary as it waits for an update on its mining license in the Democratic Republic of Congo. It has not commented on the reasons why it’s yet to receive the license.

The explorer says it retains legal title to a 75 per cent ownership interest in the Manono lithium deposit, which is regarded as the world’s largest untapped hard rock lithium deposit.

The miner also said it has been the subject of a "hostile third-party campaign" run by parties seeking to acquire an interest in the Manono project through questionable and irregular means

Yikes! I said that on 22 Nov 21 when it was about 70c and it still doubled from there. I watched it run all the way up without hitting the buy button for some reason. I think I was scared of the MC running away to what I thought was unsupported levels.

I'm not sure how long @Skate held it before it imploded in Apr 22. From all reports something dodgy seems to have been going on behind the scenes here with continuous disclosure, at least.

 

[Skate]

I'm not sure how long @Skate held it before it imploded in Apr 22

@Sean K, this is a trade of my "PANDA Strategy"
I'll briefly explain the chart for a clearer explanation of how I trade. First off, I should remark that a "Buy Signal" is only generated when the two ribbons (at the bottom of the chart) are both green. A double green ribbon means, I'm good to buy if all the other "Buy Conditions" are met.

There were minimal opportunities to enter (AVZ)
After the first buy signal, the first exit condition was because of the "Trailing Stop Exit" (Pink Down Arrow). The next exit condition was from a "Take Profit Stop" (Green Down Arrow). If there was a "yellow down arrow" it denotes a "Stale Stop Exit".

The "PANDA Strategy" chart of AVZ
Using a variety of exit strategies normally gets me out well in advance of others. The entry & exits are clearly marked for those interested.

Skate.

 

[Dona Ferentes]

scuttlebutt emerging.
An Australian lithium hopeful authorised a $US1 million ($1.44 million) cash payment to a Congolese middleman last year as it frantically sought approval to mine in the country.

Perth-based AVZ surged to a near $4.6 billion valuation last year before being suspended from the ASX amid a battle for control of potentially the world’s richest lithium deposit in the Democratic Republic of Congo.

AVZ chief executive Nigel Ferguson (left) and DRC businessman Marius Mihigo seated next to President Felix Tshisekedi. AVZ, Twitter, Facebook

On June 1, one month after the trading halt, AVZ chief executive Nigel Ferguson authorised the cash payment to Marius Mihigo, according to documents prepared for the board by lawyers at DLA Piper....


STILL SUSPENDED

 

[finicky]

What genial smiles from the gentlemen as they earnestly seek the betterment of their nation and impoverished fellow countrymen.

 

[Dona Ferentes]

Yep, status is measured on whether you get a seat on the presidential plane, or not.

(Brace, brace, brace)

 

[Sean K]

I'm not sure how this gets defined? Corporate espionage? Abject corruption? Chinese B&R type bribery? This is really messy.

 

[peter2]

The end for AVZ holders and another example of extreme sovereign risk.

The delisting will finally allow the share holders to settle capital tax gains or losses.

 

[System]

AVZ delisted on 13 May 2024.