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Yes, I agree with that @observer842. it was clearly to 'illustrate' the bad position the banks would be in if it went to bankcruptcy. just a longer version of being 'Hugely Detrimental'
https://youtu.be/KMXHY5nn-sU?t=751
I would put money on any process done in India being long and drawn out - it's how their systems work and add to that the corruption so any write down in dept has to be scruitinised.
The legacy of the British Empire's bureaucracy still exists in India.
Not sure how you conclude "to ZIP"? Pretty sure I put money in here on the back of a court case ruling about being able to ship ore before it was announced more widely in an RNS :-)
.....indeed as I recall I felt there was a case referred to the courts that contained keywords that might indeed warrant/demand his presence ... but nuff said there as it could be nothing eh ... there's been enough hailing & lauding of glories to come by some on here of court petitions/documents/cases/rulings that so far have led to ZIP eh!!
LoL. Different interpretations of what @Kiran says makes me think: https://www.youtube.com/watch?v=plZRe1kPWZw
Good conspiratorial analysis @Bannor ;-) I just had another listen, and it's clear to me he is talking about the two extremes for the banks ("the other side"). So I won't be concluding as @tomcat appears to have that: "he didn’t mention a demotion of the banks guaranteed credit status… so that option looks like it’s a definite none starter" - the absence of mentioning something doesn't mean it doesn't exist... And there is perhaps evidence in the courts we are pursuing this option. Additionally, to mention the middle ground of court action to demote to the banks to unsecured creditors would have weakened the argument he was trying to make, about them having limited options.
apols for syntax/grammatical errors but I think it's clear enough..... small screen with fat fingers typing too quickly ??
Morning TC I actually agree with you (& that may surprise some!! LoL) but that seemed to be how Kiran positioned it, again I do wonder whether that was for our benefit or maybe the banks to try & nudge them in the right direction, or possibly the courts to try to chivvy things along but I also doubt that would carry much weight with either of them..... like you in think it would be the worst of all outcomes for everyone if it failed now - however I still can't help feeling the banks may have ulterior motives & maybe they have parties/associates ready to step if that failure occured & put us out if the picture, one they'd be more willing to support (if I recall correctly one of the last owners of the failed recovery was Indian & trying to regain control through the courts but was denied wasn't he/they?) maybe the only reason the banks 'agreed in principle' was because their hand was forced by the courts, which the courts now seem reluctant to do again (i.e. threaten demotion) instead choosing to release limited quantities for shipment.
I do think there is more to the current 'hold up' than we're being told publicly & I personally do think there's more behind the banks delay than C19 & processes whether it's a desire of the Indian banks to see our recovery in JV with Indo fail so they can get a preferred party in we'll probably never know but I'm hoping Kiran's visit to Brazil is for more than just to pour over documents & conduct site visits of something we own nothing of currently.
Kiran also inferred (in my opinion anyway) that his use of the term fait accomplis was indeed incorrect in that we haven't guaranteed the secured outcome we wanted at all but rather he felt (in his opinion at least) the banks were between a rock & a hard place which is quite different than a fait accomplis.... but then I never put much store by what's said publicly by our BoD anyway do I eh LoL :-))
I wonder when Kiran's return flight is booked for that might be an interesting point in time (or not!! LoL)
i’m surprised that the alternative option is complete failure / bankruptcy… he didn’t mention a demotion of the banks guaranteed credit status… so that option looks like it’s a definite none starter… still can’t see that the courts would allow bankruptcy from here though… he couldn’t have been much clearer on the status and delays in the banks settlement… so complete failure seems pretty much out of the question to me… with 300 employees now working on a successful jrp…
..... I can't speak for anyone else but no I certainly didn't ignore that one of the outcomes of Amapa was that it could fail completely & we'd get our $2.5M back (+ loan & interest hopefully) .... do I think it will fail NO but it could..... what has been equally clear though is there are those that would prefer for that not to be mentioned or glossed over by hyping all the rewards of a positive outcome & ****ging off realists who don't sing a sixpence with them.
All genuine shareholders will be looking forward to a positive outcome (& god knows how good I hope that is after all this time) but all LTH's 5 years plus will also be cognisant of past failures & failings so until the Amapa deal is across the line we still own ZIP with the possibility (however remote it's felt or considered to be) we'll never complete the deal.... then it's back to waiting on Yangi & Sonora as a junior partner with no control on time-frames.
Yes Kiran wasn't so forthcoming with values for our JV's this time, so no expectations set -- just a shame he wasn't so careful previously in the 'missing' webinar eh & then I wouldn't have any either LoL.
LoL @Bannor. @Kiran was pointing out what we already know: the worst case scenario for us is that the banks fail to sign (and the courts fail to demote them to unsecured status), we walk away with our $2.5m. We've always known that right? Don't tell me some on here didn't! LoL Just LoL. For the banks that scenario is even worse, and he's very confident that isn't going to happen. As am I. :-)))
I'll repeat what I said last night...
Really good interview. Turns out he did have plenty to say after all, and we learnt a few new things - but wisely (IMHO) he didn't put a figure on the value of the JV's to us: sword of Damocles! ;-)
"Cadence Minerals #KDNC - Alan Green talks to CEO Kiran Morzaria" (22 Sept 2021)
https://www.youtube.com/watch?v=KMXHY5nn-sU
....seems some believe that stating facts is deramping whilst the bull & fluff they post is OK.
Hey ho each to their own ...
Sorry yes I agree. Moving swiftly on ….
Agree with your comments. I will double if it goes anywhere near 10p. But I am worried why this has not been signed. Just don't believe it's because of one bank. But KM has to push the courts. Think of all the good for the local economy there
P.s EMH interview
https://youtu.be/SXvkO6fG9Rg
Mike, now everyone has sold out and drove the price down sadly there is a concerted effort on here by several to drive the price down further and convince people to sell out so they can buy back in cheaper. Have a look at the post titles over the past few days. 10p? I will double down if the derampers can get it to 10p.
It doesn’t really matter to me what the sp does short term so why am I bothering to counter the fud? I will sit back and wait for the deal and post articles on Reddit so they don’t get lost.
Perhaps when they are done buying or Amapa lands things will change here but some have been here 5 years plus with several accounts and have a clear vendetta so I doubt things will change.