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It's great that dam inspection and now dam maintenance have started, important for the PFS, but also the licensing to get to 27%.
As part of the JRP:
"11(B) review and improvement of Environmental Management and focus on stability of dumps and tailings dams;"
For Dip B / 27%:
"The second tranche of investment, increasing Cadence’s interest to 27% for US$3.5 million, is contingent on the DEV
getting all the key environmental and operational licenses reinstated. "
I can only think Kiran is in Brazil because Amapa is coming to a conclusion and he has said several times that it is a fait accompli.
Kiran in Brasil… cooncidence?
Oh yes! I hope so Ban , we really really deserve it. Patience may be a virtue but it is also crippling my bank account ;)
If/as/when ..... I've got my fingers crossed for a 24/48hr suspension RNS out of the blue in advance personally.... I think that'd be better for existing holders & lock the shysters out of loading on the cheap :-))
That title also seems to reflect a case referred a couple of weeks back but which way did the ruling fall if so & was this also behind Kiran's trip ...... all that by the way is pure HOPE/HYPE/ASSUMPTION/GUESSWORK on my part so it's still a wait & see for me....
Dispatch Conclusions, followed by a Conclusions for Decision in Extrajudicial Title case. Could be crunch time... :-))))
More movement in the main case and a conclusions for decision...
I'm seeing more movement...
Fingers and other things crossed then @EV_
Here we go again:
MOVEMENTS
Date Movement
13/09/2021 Dispatch Conclusions
We haven’t tended to get RNSs until judgements are made.
The conclusion I have to draw is that is consistent with what we are being told is that the banks have been acting in bad faith perhaps claiming they were going to sign hence “fait accompli” then being “painfully slow” signing the deal I don’t think the courts will stand for it. I don’t expect an RNS telling us this, more of a read between the lines or perhaps it will come through in the court case.
Golly ... Hope not till the afternoon then if that's the case I'm sitting up to watch the tennis so might miss an early AM Purchase ... Hey ho LoL
@EV_Bull,
if it is our filing then an RNS tomorrow?
@Barksy1,
I don't believe that's the case, more like someone wants to nudge things on after a year and a week since the 'agreed in principle'
we don't know who filed the injunction but the gist is it's for ownership (interpretation allowances)
GL
It appears the Indian bank is holding us to ransom …or am I watching too much rubbish on tv whilst we wait ??
If this is our filing then "Periculum in mora" Latin for "danger in delay" could apply as the banks are preventing investment in to the project (Dip A/B/C). This could give us the grounds for the advanced guardianship or at the very least leverage of the courts to encourage them to sign.
Thanks for the clarifications @all,
Happy World EV day,
All new homes and offices will feature electric car chargers under new laws designed to address fears over a shortage of plug-in points.
The government confirmed today that legislation would be introduced before next year that would require the installation of charging points on all new-build properties in England.
What people need to realise is that the banks have already agreed to it all on principle, the banks system is slow and passing it through their. Reddit committee will also be a big deal which to all on the board will throughly look through it with questions back and forth,. This is just taking time but it will get done, just time, KM is super confident be aide he knows where we are and what's going on, there is no reason for banks to pull out or can with the courts on this case and sale to move it on ,
@Jimb2
There is a lot of Indian connection which is why the Indian banks financed it.
Zamin of course was Indian founded by Pramod Agarwal
D.P. Jindal also Indian was the company that failed the prior JRP attempt
@Obs, Presumably they financed the project as a union so are likely to be contractually obliged to stay as one.
@jimb2: The UK is on the red list for Brazil.. Minimum 10 day isolation even IF he could land there...
No point being there!!
Indeed @EV. Who can know the mind of an other? I just hope our number of steps ahead is one more than theirs! LoL. I'm not sure whether I'd RNS the situation either way if I were @Kiran. Perhaps better to see how it plays out if we are in the final stages of them capitulating or wanting to drag it out to the bitter end where they stand to block the project (unlikely the courts will agree IMHO), or risk becoming unsecured creditors (much more likely IMHO). Additionally I wonder if they must act as a Union because the paperwork and costs are simply too complex to consider this arrangement being split up towards the end goal of allowing those banks who agree to do so. Perhaps recent turns of events are simply brinkmanship? And nothing more. Both parties need to feel they have won, or both parties need to feel they have lost. Win-win, lose-lose, either works. Just don't blink! LoL. ;-)
@observer842,
was there an interest from a company from India that they failed to fulfil the agreed work programme some years back?
a little vague in my recollection, just wondering if the Indian banks might have been delaying as some form of 'sour grapes'
If we have filed it then it is interesting to note the recent “Hugely Detrimental to the banks” wording.
Are the banks acting in bad faith by delaying and not telling the truth to Cadence / Indo Sino?
And I should point out that the project continues either way, becoming more valuable each day, all things being equal of course! ;-)
@jimb. The only decision I see that might go against us at the moment, though unlikely IMHO, is the one @Bannor pointed out related to shipping another $10m net. I suspect the market doesn't quite understand how likely it is that we get our 20% one way or another, just some ways faster than others! ;-)