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@EV I too was wondering if weakening iron ore prices might encourage the deal to close. They are after all now round about where they were at the time WE agreed in principle to the settlement terms proposed by the BANKS. Albeit shipping rates are significantly higher! DCE closed for a few days. Wednesday IIRC.
Yes, he does seem to be arguing with himself.
MrLithium - it's funny enough that you are talking to yourself via different aliases but even funnier that you forgot to log out and log in as one of the others. Boobla is now arguing with himself
EV_Bull,
you know regardless of all the great arguments you present those who only 'appear' to see the glass half empty might have an ulterior motive, well that's my conclusion and I'm being far more selective on the Filter - as a lth seven years of pain is coming to an end over the coming weeks - Energy and Transport disruption our projects EMH, HAS, Sonora (Ganfeng JV to be!), MMS and as a bonus Amapa
____________ is in the right place at the right time to support this transition.”
Who knows Australia with our neigbours Core and Ganfeng might just get some interest - any day we could see a cash offer $30m+ for just one of our projects - imagine reports - Cadence minerals is pleased to announce our JV partner Ganfeng has started construction in Sonora of the ____ t/year lithium ___ plant, Cadence's 30% will be mined in year___
Or more likely Cadence is pleased to announce 'the offer'
my god boo/ that is a first, lol
I am specifically referring to the negotiation, the banks fiduciary guarantees over the stockpile becoming worth less to them, putting Cadence in a stronger negotiating position.
And no iron ore losing half its value is deffo not a positive for us, if you’ve convinced yourself this is the case you have far too much invested here and sound desperate
There’s a good chance he’s agreed a bank settlement based on a $200 iron ore price if you’ve been here long enough to see the damage some of the previous deals he’s tied us into caused
Doesn't a dip in Iron Ore prices alongside the temporary rise in shipping costs reduce the value of banks' guarantees over the stockpile values, putting Cadence in a stronger position and make them more likely to sign as they would now need to see the mine operating to get their money back? Especially if all of the stockpile is being priced at the 58% rate. We were only projecting to make $30-$40m from stockpile sales and have already made $10m.
P.s Kiran doesn't control the ore price, the courts or the banks and when they sign.
Given Seaborne 65% 'pellet feed' is $152/t Opex is $20/t with shipping under $50/t there is still a very healthy margin at those prices, and that's not factoring in the BRL exchange rate benefitting us.
Also of note we are planning to use "Trans-shipping" which would allow us to fill 170,000t vessels reducing shipping costs towards the $25/t range.
"The products would then be stockpiled at the port facility and mechanically loaded onto "Handymax" vessels which navigate the Amazon River out to sea and then transported onto larger "Capesize" vessels before the products are sold to the market."
Iron Ore today is still much higher than when the agreement was made:
"65% Iron Ore (CFR) North China have increased from US$95.95 per dry metric tonne ("$/dmt") to US$111.90 / dmt since early September 2018 to the middle of May 2019[4]"
But don’t worry KM blame Covid in India for having to sell millions of tonnes of iron ore for half the price we could have had for it because the banks are running rings around you
We got millions of tonnes sat there apparently and all the way through those record highs KM managed to send 3
Ships?
Rubs even more salt in that we’ve been shipping it for other people for them to cash in on the record highs while our project never
Is it even our project or ever will be ?
I bet people can’t believe KM
Was supposed to have millions of tonnes to sell but hardly sold any of it
This is an interesting read
https://www.australianmining.com.au/news/riley-mine-suspended-as-iron-ore-hurts-venture-minerals/
Iron ore drops further
KM where is this bank settlement you agreed over w year ago, that you advised in may would be delayed due to staff shortages in India , a quick check of Covid rates in India shows they have been low since then, was this a lie ?