AVZ MINERALS ICC Proceedings
The Company has considered the cases before the ICC in detail and considers them to be spurious in nature, without merit, containing fundamental and material errors, and having no substance or foundation in fact or law. The Company believes it is under besiegement by non-state actors who intend to unlawfully acquire, for themselves and/or other third parties, an interest in the
Jin Cheng Dispute
The Company currently defends a case in the ICC brought against its subsidiary
The status of the Jin Cheng proceedings is as follows: on
AVZI remains of the view that its jurisdictional challenge will be successful, which will affirm that Jin Cheng does not have the right to instigate the ICC arbitration proceedings against AVZI under the Dathcom Joint Venture Agreement (JVA), since it is not a party to the Dathcom JVA. An award on jurisdiction can reasonably be expected to be handed down mid-2023. It should be noted that this does not finally determine whether the sale of shares from Cominiere to Jin Cheng was effective, which will remain to be determined in separate proceedings
Clarification - Interim Financial Report
As previously advised by the Company, the award of the Mining Licence is not subject to the conclusion of the ICC proceedings with Jin Cheng and Dathomir and the Company continues its discussions with the DRC Government which at the date of this announcement remain incomplete. The Company notes that the Interim Financial Report
Contact:
Tel: +61 8 6117 9397
FORWARD LOOKING INFORMATION
This announcement contains certain forward-looking statements and comments about future events, Forward looking statements can generally be identified by the use of forward-looking words such as 'expect', 'anticipate', 'likely', 'intend', 'should', 'could', 'may', 'predict', 'plan', 'propose', 'will', 'believe', 'forecast', 'estimate', 'target' and other similar expressions within the meaning of securities laws of applicable jurisdictions. Indications of, and guidance on, future earnings or financial position or performance are also forward-looking statements. Forward looking statements involve inherent risks and uncertainties, both general and specific, and there is a risk that such predictions, forecasts, projections and other forward-looking statements will not be achieved. Forward looking statements are provided as a general guide only and should not be relied on as an indication or guarantee of future performance. Forward looking statements involve known and unknown risks, uncertainty and other factors which can cause the Company's actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward looking statements and many of these factors are outside the control of the Company. As such, undue reliance should not be placed on any forward-looking statement. Past performance is not necessarily a guide to future performance and no representation or warranty is made by any person as to the likelihood of achievement or reasonableness of any forward-looking statements, forecast financial information or other forecast. Nothing contained in this announcement nor any information made available to you is, or shall be relied upon as, a promise, representation, warranty or guarantee as to the past, present or the future performance of the Company. Except as required by law or the ASX Listing Rules, the Company assumes no obligation to provide any additional or updated information or to update any forward-looking statements, whether as a result of new information, future events or results, or otherwise
(C) 2023 Electronic News Publishing, source
