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The decision is entirely consistent with the position maintained by the Company, that is, that it holds clear legal title to a 75% interest in Dathcom and a continuing pre-emptive right over 15% of Cominiere's 25% interest in Dathcom. The ICC tribunal did not rule on the validity of the purported sale by Cominiere to Jin Cheng of 15% of the shares in Dathcom which the Company maintains breached AVZI's pre-emption right and was tainted by corruption. These issues, in particular those relating to corruption, will be revisited in the other ICC proceedings, including the case brought by AVZI in relation to alleged breaches by Cominiere of the Dathcom joint venture agreement (ICC No. 27720/SP). The Company acknowledges Zijin's public statement that, in light of the failure of its ICC proceedings, it will now seek to pursue this claim via domestic proceedings in the DRC. The Company is considering the appropriate response to this latest threat. This award is another successful result, adding to the two Emergency Arbitrator orders handed down against Cominiere in ICC case No. 27720/SP, and the interim orders handed down by the ICSID tribunal in ICSID case No. ARB/23/20 C No. 27720/SP to protect in particular Dathcom's rights to PR 13359. This announcement was authorised for release by the Board of Directors of
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