“You have to communicate with your partners and go there every month, and if nobody shows up for two years and only lawyers come in, it doesn’t augur well. I just know they cancelled all their licences,” he said. “It’ll be very difficult for them to operate there now under the current management, but who knows, I stay out of it and don’t have much to do with it. The politically connected geologist who has lived in the DRC on-and-off since 1999 and developed numerous successful projects in the country including tin miner Alphamin and Moto Goldmines said he now doubts AVZ has a future in the DRC. Mr Eckhof resigned as chairman of AVZ in 2018 and said his Canadian-listed explorer, AJN Resources, has been awarded a new licence to explore parts of the Manono region for lithium and gold, after an invitation to do so from the DRC government. The group faces a class action fight in Australia, a legal spat with the author of a short report in London, questions from the market regulator, legal disputes with its joint venture partners in the DRC and in Paris, and a plan to take the DRC government to arbitration in Washington DC to seek remedies for alleged unlawful conduct. However, a horror run has since landed it with a sharemarket suspension. Shares in AVZ Minerals raced to a $4.6 billion valuation and membership of the S&P/ASX 200 in April 2022 as it boasted of a 75 per cent ownership interest in potentially the world’s largest hard rock lithium deposit in Manono. It contributes to the perception, which is a problem.” “The government officials they speak French, but they can read English too and they understand and think that’s coming from Australia. “Look at Hotcopper, Twitter, all the racist comments and pictures there,” Mr Eckhof said, speaking from his base in St Tropez, France. The veteran mining entrepreneur said an online campaign by AVZ’s retail shareholders that insulted its government officials and Mr Eckhof had damaged AVZ’s reputation in the DRC. Shares in AVZ Minerals have been suspended since May 2022 leaving around $2.7 billion in paper wealth trapped, after the DRC government refused to award the ASX-listed explorer a licence to mine the Manono Project, and cancelled its operating permits in January 2023. Klaus Eckhof the founder of AVZ Minerals’ Manono Project said it’ll be “very difficult” for the miner to operate in the DRC now.
He doubts AVZ has a future in the West African country, although he is no longer close to the business.
#AVZ COMPANY PROFESSIONAL#
If you need professional advice regarding investments, please consult a licensed financial provider before making any decisions based on the general information or opinions shared on this website.Klaus Eckhof, the former chairman of AVZ Minerals and architect of its deal to acquire the Manono lithium project in 2017, has slammed “racist” shareholders for inflaming tensions between the suspended lithium miner and its partners in the Democratic Republic of Congo. The website shall not be liable for any damages or expenses caused by the comments or the use of this website. The opinions expressed in the comments are solely those of the individuals posting them and not necessarily the views of The Stock Exchange Forum or its agents and affiliates. The website does not filter, edit, publish, or review the comments before they are posted. The posters might be anonymous or impossible to identify, so you may not be able to recover losses or access the ASIC-approved dispute resolution processes by relying on the posts. However, all the information shared on this website is just an individual's opinion, and none of it should be considered as licensed advice. This website is a platform for people to exchange opinions and information about various topics, including investments. © The Stock Exchange Forum ABN 54 024 067 499 Community platform by XenForo ® © 2010-2021 XenForo Ltd.
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