May 2024
AVZ flags delisting, shareholders face $2.8 billion wealth wipeout
The lithium explorer will delist on May 13 as more than 21,000 shareholders remain trapped in a company that joined the S&P/ASX 200 in 2022.
- Tom Richardson
March 2024
- Exclusive
- Sharemarket
South32 scraps manganese guidance, Groote Eylandt faces power crisis
The future of one of the Northern Territory’s most valuable mining project is in doubt after Cyclone Megan ripped through it and threatened a power crisis.
- Updated
- Tom Richardson
November 2023
AVZ dismisses director’s Congo jail sentence ahead of proxy stoush
Proxy adviser ISS cites a three-year jail sentence for alleged forgery as a reason to vote against Graeme Johnston’s re-election to the AVZ board.
- Tom Richardson
October 2023
Former AVZ director slams $1.5m Mihigo payment, calls for change
Peter Huljich said he voiced “severe concern” about the $US1 million cash payment and wants to return to the board to get the stock trading again.
- Tom Richardson
July 2023
Former AVZ chairman slams ‘racist’ shareholders, plots new Manono deal
The dealmaker credited with helping AVZ acquire its ownership rights to Manono has lashed its current predicament and its shareholders’ online activities.
- Tom Richardson
June 2023
AVZ takes Congo to Washington court over mine licence
The Congolese government is unlawfully blocking the Manono Project, according to the explorer that last fetched a market value of $2.75 billion.
- Updated
- Tom Richardson
May 2023
AVZ wins interim orders against Congolese JV partner
AVZ Minerals says it has won interim orders to prevent Cominiere from terminating a joint venture deal or taking further legal action against it, for now.
- Lucas Baird
April 2023
- Exclusive
- Sharemarket
AVZ wins embassy support in Congo mine stoush
A DRC source claimed AVZ CEO Nigel Ferguson is in the African country in an attempt to negotiate a resolution of its dispute as the miner seeks Australian government support.
- Tom Richardson
Zijin Mining attacks AVZ’s $1.5m Mihigo deal, ICC hearing delayed
Zijin Mining says the legal arbitration against AVZ scheduled for April 23 has been postponed, and it has hit out at the Australian miner’s claims against it.
- Tom Richardson
ASX suspends AVZ for non-compliance with listing rules
The lithium explorer that reached a near $4.6 billion valuation told the ASX it didn’t disclose ownership disputes as they were immaterial or not legally valid.
- Tom Richardson
March 2023
ASX miners demand Congo pay billions in compensation
ASX-listed Equatorial Resources has filed a $1.6 billion claim, while Sundance Resources is seeking up to $8.5 billion from the government.
- Tom Richardson
AVZ reveals cash outflows, legal disputes balloon
The suspended explorer said it thinks it can get a mining licence on resolution of multiple legal disputes and the financial backing it needs.
- Tom Richardson
February 2023
- Exclusive
- Sharemarket
Chinese mining giant in secret Africa lithium grab
Zijin Mining requested Democratic Republic of Congo officials hand over the project partly owned by ASX-listed AVZ months before the license was cancelled.
- Tom Richardson
A Tasmanian geologist’s fortune implodes in the Congo
The battle for control of the world’s richest lithium deposit has escalated into a potential $4.6 billion market wipeout, legal disputes, and ferocious feuding.
- Tom Richardson and Aaron Patrick
Lawyers warned on potential deterioration of AVZ’s governance
Zijin Mining has blamed AVZ for the DRC’s decision to revoke a mining licence, as AVZ refused to comment whether its trading halt could be lifted.
- Tom Richardson
- Exclusive
- Sharemarket
Lithium miner CEO proposed to pay Congo middleman $US6m
On June 1, the lithium hopeful authorised a $US1 million cash payment to a Congo operative for help obtaining a mining licence, before its spooked board engaged DLA Piper.
- Tom Richardson
December 2022
- Exclusive
- Class action
Omni Bridgeway plans to fund class action against AVZ Minerals
The litigation funder alleges AVZ Minerals breached its continuous disclosure obligations and misled investors by failing to disclose ownership disputes.
- Tom Richardson
AVZ stays suspended, rejects allegations
The suspended company told investors on Thursday that it didn’t disclose an ownership dispute in 2021 as it considered the claim spurious in nature.
- Tom Richardson
- Exclusive
- Mining
From $4.6b to suspension: would-be lithium giant hid dispute
Shares in lithium explorer AVZ Minerals raced to a near-$4.6 billion valuation in April before trading was suspended. New information suggests it concealed an ownership dispute from investors.
- Tom Richardson
October 2022
- Exclusive
- Sharemarket
Battle over ‘world’s largest lithium deposit’ drags in China
ASX-listed AVZ Minerals has acknowledged a Congo court ruling and separate dispute at the International Court of Arbitration.
- Updated
- Tom Richardson