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here ev… it was your thread re the updated haul…
.... they may be state owned banks but a lot of influence from external (private & influential) sources & "friends" can be applied within state controlled entities for all sorts of reasons political & personal - that can occur in any country regardless of how 'open' & 'fair' they appear or portray themselves to be .... you just need the right influencer to offer the correct carrot/handshake to the right office(r).
Exactly, If we can be almost certain of a 100%+ gain on taking 20%, within a few months it is still a bargain and you are then being paid very handsomely to wait. I am optimistic and I expect it to complete this month.
" it's only a matter of time"
Yep I'm think most agree with that - how much is what's being discussed not that that's the case....LoL
Exactly EV, state owned not private bank, for them it's just more paper to deal with,
I mean these are state owned banks it's not like their employee's gain anything personally by dragging it out so I don't believe it to be purposefully as I don't see what they have to gain. I do believe that they can be incredibly slow and bureaucratic requiring approvals and such so I can understand the delays if it takes four weeks for a round trip through the sausage machine, that is an entirely different proposition that means it's only a matter of time to me.
As always everyone having a guess and everyone is a guessing genius, just follow the news that's where we are, 1 bank is slow doesn't mean anything could be short staffed with the required people to deal with this matter, or too much going on for them, let's not accuse them of all sorts
they also used the in princeable ..
@EV, I think what @Bannor writes makes sense. It's on the premise that (one of) the banks is *purposefully* being slow. Whether or not it is, is anybody's guess. For sure our BoD wouldn't say so in public, even if they thought it in private.
ev/KM said 90% how can it be when 1 bank is holding off in my book that means 75%
You must know more than the BOD then Maddog and Bannor because they reckon it's 90% of the way there now and a fait accompli.
"In early September 2020, we announced that DEV Mineração S.A's ('DEV') and Cadence and Indo Sino Pty Ltd ('the investors') agreed in principle to the settlement terms proposed by the bank creditors. The principal commercial terms agreed in 2020 have not varied materially, and at the time of writing, the final settlement is currently with the bank creditors for comment and/or approval. "
Barsky/ if that is what you think carry on , G/L
Thanks Dal , good to hear from you ;)
Bannor / spot on exactly .yapyap
Bods not boss :)
But md, you know no more than the next man ….it’s all conjecture from all of us apart from those kind boss who dissect the court journals and the crows in the nest who watch the boats.
OBS the bank didn't reach an 'agreement' with the debtor's until they were threatened that they 'might' be demoted to unsecured creditors if they didnt... reaching an agreement (in principle) resolved that .... now they are delaying signing it so unless they are again threatened with unsecured status if they don't sign & return it I don't think they will..... the court seems to have taken another course of action to negate the banks non return by permitting shipments with reserved amounts for the banks so I don't think they will again threaten to reassign their status..... In my opinion this could be the position until there are sufficient reserved funds from authorised sales to settle the banks in line either with what was originally owed or the 'agreement in principle' .... Therefore it could be some time yet before we get the bank issue out of the way or alternatively they could cave & sign tomorrow .... who knows - no-one posting, guessing, assuming or stating so on here that's for sure....unless one if our posters is one if the BoD LoL ...
EV/ wait and see l am not as daft as l rite , and l am very rarely wrong with matters of cadence
l am not a ramper or deramper just a realist.
come on EV look behind the scenes
thanks for reminding us of that ob… so it’s in our interest too… that the banks don’t sign… and the court annuls the guarantees… stop geeing them the people…
I like the sound of "(v)" @EV! :-))) Thanks for the reminder.
Thanks for the correction, the banks are not taking a hair cut this is part of any negotiation.
"4. 11. LBO creditors. LBO claims, not subject to Judicial recovery, will be paid in accordance with the terms of bilateral contracts in negotiation observed conditions unprecedented."
"1.1.25. 'Priority Creditors' means creditors with claims which are not subject to the effects of the recovery process Claims arising from the LBO, according to with the LRF."
"1.1.33. "LBO credit": is the non-competitive credit Credit Facility Agreement: concluded on 06 December November 2013 between Zamin Amapá Brasil S. A. and Intesa Sanpaola SpA, Hong Kong branch (as agent on behalf of certain creditors), in the original amount of one hundred and thirty to five millions of North Americans (USD 135. 000. 000,00), LBO credit is secured by certain fiduciary guarantees and therefore is not subject to the effects of recovery Judicial."
"(v) the conclusion of bilateral agreement with creditors holders of LBO's credit by which they agree that new money coming from investor or other parties financial (DIP Finance A, B or C or some other money New raised as divide) will be senior claims in relation to LBO credits, agreeing to share the guarantees in a mutually accepted proportion and that payments will be realized from the livre box generation:"
bannor / go for 20p fill,
Bannor l have one on permanentlylol
Why a fill or kill @Bannor? Why not put a large enough regular order in for say 26p and the FUD around here and the MM's desire for liquidity might just see it filled. If that's what you want?
10% of dev’s 1.39mt stockpiles that we are currently shipping… that the banks keep trying to stop us shipping… so we can’t pay them back… lol…