Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
For the Amapa mine itself, these are the best two cloud free images I can find:
https://apps.sentinel-hub.com/eo-browser/?lat=0.81593&lng=-51.86246&zoom=15&time=2019-03-18&preset=1_TRUE_COLOR&datasource=Sentinel-2%20L2A
https://apps.sentinel-hub.com/eo-browser/?lat=0.81593&lng=-51.86246&zoom=15&time=2019-11-03&preset=1_TRUE_COLOR&datasource=Sentinel-2%20L2A
Other than noting it's still there, nothing else much is going on, as we would expect! :-)
@Frankie. None of the stages/preconditions we are talking about have been met. The last RNS related to Amapa at the end of August announced that the plan had been signed off (homologated):
===[
Cadence Minerals (AIM/NEX: KDNC) is pleased to announce that the judicial restructuring plan ("JRP") submitted to the commercial court of São Paulo to recover and restart operations at the Amapá iron ore project, was approved by over 90% of the credit value at the JRP meeting held in São Paulo and Macapá, Brazil and was homologated by the courts on the 29 August 2019.
]===
The preconditions for the JRP to be signed off included our $2.5m being put into escrow. This was done and will be released when the preconditions of the first stage of the two stage investment of $6m are met, taking our holding initially to 20%, and then on completion of the second set of preconditions to 27% should we choose/be able to deliver an additional $3.5m.
Ob.
Take a look at page 9 of the latest corporate presentation for the preconditions:
https://www.cadenceminerals.com/wp-content/uploads/2019/07/Corporate-Presentation-KDNC-June-PPT-PUBLIC.pdf
===[
US$ 2.5 m Investment (Key Preconditions)
• Railway license for a minimum of 16 years
• Approval of the Judicial Recovery Plan – inclusive liability cap & maintaining payment agreed in 2017 restructuring plan
• Pursuant to the Judicial Recovery Plan JV Co holding not less than 99.9 per cent of the fully diluted share capital of Dev Co
• There being no restrictions, penalties, embargos, sanctions or liens over the licences and the Dev Co being able to conduct its
operations under those licences freely and without any restrictions;
• A deed of priority being entered into between JV Co and the Dev Co and any other secured creditor of Dev Co
US$ 3.5 m Investment (Key Preconditions)
• Fulfilment of the above conditions;
• The Dev Co being granted the necessary environmental licenses (or those expired environmental licences currently held by Dev
Co being renewed) required by Dev Co to conduct its business and/or operations in respect of the mineral assets
• There being no restrictions, penalties, embargos, sanctions or liens over the licences and DevCo being able to conduct its
operations under those licences freely and without any restrictions
]===
When the first set of preconditions are met our $2.5m will be released from escrow and we'll own 20% of the project.
@Frankie. We will own 20% of the project when the preconditions have been met. They have yet to be met so therefore we currently own 0% of the project. The fact the iron ore is potentially gearing up to be shipped is IMHO a very good sign that the preconditions are close to being met. How close? No idea, but hopefully this month :-)
@degsie. It might be nothing, it might be artefacts of the image/light, or it might be something. We know the iron ore stock piles are bluish as they have been oxidised. The sequence of images perhaps show that the water vessel at the private port changes colour from white (empty?) to blue (loaded) and that it comes and goes.
It's all a bit circumstantial but this might suggest that the iron ore is being loaded onto a vessel further up the Amazon ready for first shipment. This would coincide with what we were told in August:
===[
The sale of approximately of 1.39 million tonnes ("Mt") of stockpiles currently held at the port owned by Amapá. Planned shipment of stockpile commencing in December 2019.
It is estimated that these stockpiles have a net realisable value of approximately US$ 60 million, which will be reinvested in the restart of the Amapá Project.
]===
Please note: we currently own 0% of the project.
Ob.
I am colour blind so difficult for me. Are you suggesting that stockpile is being moved?
That's all down to The Spanner Man ,
@Barksy. If you want a good zoom in take a look at:
https://www.bing.com/maps?osid=e57ba001-09f1-49f4-bd10-29430f0efd1e&cp=-0.052341~-51.18183&lvl=19&style=h&v=2&sV=2&form=S00027
https://binged.it/2s4v21f
Blue ....the pontoon was red before but also that looks like a blue cover over the stockpiles. Am I right?
Look what's back:
https://apps.sentinel-hub.com/eo-browser/?lat=-0.05032&lng=-51.18505&zoom=16&time=2019-11-15&preset=1_TRUE_COLOR&datasource=Sentinel-2%20L2A
https://apps.sentinel-hub.com/eo-browser/?lat=-0.05032&lng=-51.18505&zoom=16&time=2019-12-05&preset=1_TRUE_COLOR&datasource=Sentinel-2%20L2A
https://apps.sentinel-hub.com/eo-browser/?lat=-0.05032&lng=-51.18505&zoom=16&time=2019-11-30&preset=1_TRUE_COLOR&datasource=Sentinel-2%20L2A
and it's a different colour :-)
Had another look at obs aerial shots, what looked to me like a darkened area [i.e. cleared]
on second thoughts looks like a shadow from clouds! Well maybe next RNS will help.
....not sure I want to get into the pile thing.but it's always nice to have a lady waiting in nets ;-)
I'm standing waiting in the nets........
;)
Here is another 'spot the difference'....posted today on BCN board
https://www.mining-technology.com/features/top-ten-biggest-lithium-mines/
One can only hope ....
Has the pile gone? :)))
If that's the case Amapa commenced 2019 q4 as promised by the board.
@ observer842 Certainly looks like shipping has commenced.
Any guestimate of percentage so far?
Obs. Please explain.
Look what's no longer there ;-)
https://apps.sentinel-hub.com/eo-browser/?lat=-0.04965&lng=-51.18576&zoom=16&time=2019-09-16&preset=1_TRUE_COLOR&datasource=Sentinel-2%20L2A
https://apps.sentinel-hub.com/eo-browser/?lat=-0.04965&lng=-51.18576&zoom=16&time=2019-10-01&preset=1_TRUE_COLOR&datasource=Sentinel-2%20L2A
https://apps.sentinel-hub.com/eo-browser/?lat=-0.04965&lng=-51.18576&zoom=16&time=2019-11-05&preset=1_TRUE_COLOR&datasource=Sentinel-2%20L2A
https://apps.sentinel-hub.com/eo-browser/?lat=-0.04965&lng=-51.18576&zoom=16&time=2019-11-30&preset=1_TRUE_COLOR&datasource=Sentinel-2%20L2A
https://www.google.com/maps/@-0.0568836,-51.1848461,110m/data=!3m1!1e3