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Need this to reach 47p just to break even so won't be holding my breath waiting for an upward surge in the SP lol. Refuse to sell at a loss
No recent suspensions although I will drag a few up later though and post here.
I have emailed Kieran though reminding him that he needs to build up trust from investors and has a duty to release information in a fair and timely manner.
If we do enter the big time (100 million M-cap +) he will need the respect of the masses, especially if he wants to enter the main market and kick the AIM into touch1.....Maybe
@pensionpot, or anyone. Got a recent example of a similar order of events on AIM? Suspension pending company defining news?
Morning all.
Just to add my own thoughts as to the imminent RNS from the men in charge.
I think that once the final docs are approved and signed we will indeed get the big RNS all are waiting for.
Because of all the potential criticism concerning leakage of news I think we will get an instant suspension of share trading, pending significant news. That way everyone will have the same opportunity to buy-in or sell once the market is fully informed.
How long this will take is up to the Brazilian courts at the moment.
If I am right about the share suspension though, there wont be much chance of buying at these low prices.
I have topped up as much as I feel comfortable with so just about happy to wait it out for now.
I have been in this share from day 1 (Zest days) so nothing will surprise me should the above go a different direction.
My estimate of where the market cap will be, once the deal is done is still a conservative 45-50 million. Then edging higher from that once confidence builds and the day traders exit the scene.
Good luck to all investors here, its about time things got stirred up
he did promise to update us in the coming weeks frankie... not moths... https://www.lse.co.uk/rns/KDNC/agreement-in-principle-to-bank-creditor-settlement-exahnnem98oaz0w.html ... so we are due an imminent update... ;) preferably today...
Though I suppose he has told us why we can't ship at the moment, even though the part related to "imminent" may have happened. It's clear to those following the courts, but everyone?
"Agreement in Principle to Bank Creditor Settlement" (2nd Sep 2020 )
https://www.lse.co.uk/rns/KDNC/agreement-in-principle-to-bank-creditor-settlement-exahnnem98oaz0w.html
===[
In addition to the above, and while the settlement contract is finalised, DEV and Investors have requested that the Bank Creditors and DEV submit a joint petition to the higher court to remove the Bank Creditors appeal and the subsequent interim order. As a result, operations at Amapa, including the shipping of iron ore stockpiles will be temporarily suspended while the petition is agreed, filed and approved.
]===
@Bannor - Thank you but your posts are quite informative to me. :)
And yes. i will be waiting for that RNS too.
Thanks @Tomcat :) Guess time will tell. 5 days of wait..or less.
Hello @Obs. Long time. Hope you are well.
LoL @Bannor "which makes that imminent really very imminent!!", IMHO (and you may think the same) the imminent @Kiran was referring to has likely happened by now, but that's not what's preventing us from shipping at the moment.
"Placing to Raise £1.25 million" (21 August 2020)
https://www.lse.co.uk/rns/KDNC/placing-to-raise-163125-million-tznq1rrur2rtp8r.html
===[
Cadence understands that SEMA will provide the required documentation imminently. Cadence will provide an update once the first shipment is underway.
]===
If it has happened, it would be courteous to have received an RNS telling us that SEMA have provided the required documentation and spelling out the reason why, despite this, we are unable to ship at the moment. I suspect (hope!) closing the deal (or it falling through!) is imminently close it's not worth the bother, and that's what we'll hear next, though the outcome of the SEMA documentation is perhaps the sort of thing @Kiran might let on in an interview or an email I suppose...
Ob.
penalty of non-payment is delay to the jrp... although i’m suspecting it’s a bit of a chicken and egg scenario... where the court order is required before the dev shares can be transferred... but the shares can’t be transferred until the court order is issued... so that the court doesn’t delay the following process they have given a 5day deadline for the payment...
...no worries but really I wouldn't take my reading of it as any more accurate or comprehensive than my most recently born 6th grandchilds whose now 2!
The payment reference might he related or unrelated .... it might be that this court is aware that DEV & the banks have reached 'agreement' & so indeed are indicaing that DIPA escrowed monies must be released & creditors paid & all this within 5 days .... which makes that imminent really very imminent!!
Either way I'm still waiting for THAT RNS..... :-)
Thanks @Bannor. Your translation is worth a good amount to me.
That was how I understood it too but talking about penalty if no payment in 5 days was a bit confusing to me.
Thanks @tomcat. Does that mean the agreement has to be finalised soon or some form of agreement has been communicated to the courts? If I remember correctly, there was a time we learned about a change through the court publications before a RNS.
@cause..... these translated legal texts are quite difficult to follow & that's for sure but for what it's worth how it reads/appears to me (& I might be very wrong) is that an application has been made by representatives of some/all creditors to seek settlement elsewhere from an unrelated party for the $2.5M of our escrowed monies (perhaps linked to hoped/expected earlier ore sales) & the court has simply ruled that it is not for the court to decide on whether the creditors covered by DIPA finance in the JRP can do so ..... however what they appear to me to have also ruled is that the creditors must now confirm (within 5 days) whether they want to continue to be covered by the JRP DIPA finance or not ..... & if they don't the JRP will be amended (convoluted) to reflect the change by virtue of their stated intention to seek settlement elsewhere.
Not sure it changes anything from our perspective - but the more time that passes the more Kirans imminent becomes imminent you'd think LoL .....
Is it good news?
it’s a repeat of the same thing that wasn’t accessible to robots yesterday... but this court order is also in the diary today... is it referring to the whole list... ? those that confirmed they want paying from the escrow account within the 5day deadline... are now ordered to be paid from the escrow account within 5days... https://www.jusbrasil.com.br/processos/43665844/processo-n-0010863-2820145030030-do-trt-3 ...
The ruling you posted earlier has been published.
https://www.jusbrasil.com.br/diarios/documentos/936412357/andamento-do-processo-n-1088747-7520158260100-recuperacao-judicial-recuperacao-judicial-e-falencia-01-10-2020-do-tjsp?ref=feed
Do you think pay within 5 days mean they have to release DIP A within 5 days? I know I said my opinion is it is not the case, but re-reading a few times, I am a bit confused.