Ann: Nzuri Receives Cash Acquisition Proposal, page-30

Yes it does raise some eyebrows doesn’t it? With many Chinese cos scrambling to secure Copper Cobalt resources, why the non-action from Huayou? Well, If one never thought Huayou & Chengtun are in on this together, one’ll be sorely mistaken.

The Chinese more than anything else, have always valued cooperation above competition. They usually work in concert. The “real” deals are usually pre-emptively negotiated behind closed doors. That’s how it’s done.

I would think having a Huayou board member on NZC has helped pushed for the takeover to be arranged without much resistance & squabbling amongst the board. Not sure how Huayou has convinced the board it is good for them. Don’t think the board would’ve surrendered so early on in the bidding. Wouldn’t be surprised if it was their plan all along to sell NZC at an “affordable” price to Chengtun.

If this is the case, rest assured They can get away with it because they’ve always gotten away with it even in China, what more in the DRC where money can be used to grease some palms? Clearly NZC has a very decent resource with an IRR upwards of 60% even at current Copper Cobalt prices. I hope more Aussie shareholders would think very very carefully and question the board with more scrutiny on how and why they’re getting a fair deal. Especially with no future royalties being negotiated.

No doubt a similar fate was going to be-fall on AVZ and their prized Manono lithium asset as well. First Huayou and then other lithium china co getting in on the share registry. Then perhaps, the end-game, a low-ball offer to take them out (take-over) dressed as a friendly takeover done in good will with the board.