Insider transaction between AVZ and AJ: A case that shakes the world of investment
In the business world, trust is a key element in ensuring fair and transparent transactions. Unfortunately, some companies choose to set aside these fundamental principles for their own interests. This is the case of Nigel Ferguson, chairman of AVZ, who orchestrated an insider transaction with AJ, thus jeopardizing the confidence of investors and shareholders.
It all started on December 18, 2023, when AVZ released an announcement regarding a mineral resource estimate. In this announcement, it was revealed that AVZ had completed several drilling operations in the CDL area, with inferred resource prospects. However, Nigel Ferguson chose not to disclose this crucial information, thereby orchestrating insider trading to the detriment of investors and shareholders.
The matter becomes even more disturbing when it is discovered that Nigel Ferguson, as president of AVZ, asked Mr. Balthasar, deputy general manager of DATHCOM, to submit a request for relinquishment of 82 squares in the CDL region. This application was not approved by the DATHCOM shareholders’ meeting and has not been disclosed by the ASX.
Worse still, AJN, a company associated with AVZ, managed to obtain this information in advance, suggesting collusion between Nigel Ferguson and AJN executives. Discreet meetings between Nigel Ferguson and Klaus Eckhof, chairman of AJN, took place in Germany, where the transfer of Manono’s mining rights to the JV between AJN and the Democratic Republic of Congo was discussed.
When the transaction was finally revealed, it became clear that AVZ management had breached the ASX’s disclosure rules and acted in its own self-interest. AVZ shareholders, who had placed their trust in the company’s management, felt betrayed by these fraudulent actions.
It is now essential that steps are taken to restore investor and shareholder confidence. A thorough investigation into the practices of Nigel Ferguson and AVZ management must be carried out, to ensure that such actions are not repeated in the future.
In conclusion, the insider trading affair between AVZ and AJ has shaken the investment world. It highlights the importance of integrity and transparency in financial transactions. It is essential that measures are taken to punish those responsible for these acts and to restore the confidence of investors and shareholders.