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CADENCE MINERALS PLC - AMAPA IRON ORE PROJECT
FOR THE AVOIDANCE OF DOUBT - Alan Green in his Xmas 2020 mention of Cadence Minerals, he said that Cadence had taken a RECENT VALUATION OF AMAPA iron ore project. Later, Kiran Mozaria , CEO of Cadence stated in his more recent interviews [put up on Cadence Twitter] that Amapa US$600 MILLION.
I quoted EXACTLY what Mr Mozaria said and again IT WAS NOT AGREED- on the main Cadence chat forum, it was said that it is US$1.2 BILLION or rather appears that it should be US$1.2bn.
Mr Mozaria took AN OFFICIAL VALUATION of Amapa and he said US$600m which is 100% of the project. It is norm that such an official valuation can only be done by a Tier 1 investment bank within a top ranking. This is norm as it would have to be included into the CADENCE ASSETS listing although Cadence has NOT yet earned the 1st 20% stake in Amapa subject to the creditor banks agreement. So, as and when the said agreement is signed, no doubt this valuation will go into the books [balance sheet note] of Cadence.
VALUING CADENCE MINERALS
In order to get a picture of the value of Cadence, it is helpful to look at the OFFICIAL FIGURES given by the co etc. The MARKET, no doubt will also be doing a valuation of Cadence.
To be fair, I tweeted OPENLY to CADENCE at the time of the Q & A and said that the forum had put a share price of £5-10 when the share price was some 24-25p approximately. Kiran Mozaria, CEO of Cadence via Vox Podcast NEVER confirmed the £5-10 share price forecast.
If one upgrades the figures to what one thinks it should be, then of course, the share price forecasts on the back of the envelope could go to some big ££.
FOR THE AVOIDANCE OF DOUBT ------I INNOCENTLY QUOTED THE OFFICIAL FIGURES AND "NONE" [universally meant to be the ones of importance eg BANK VALUATION OF AMAPA etc] OF THEM HAVE BEEN AGREED ON THIS FORUM.
-------SO, NOTHING TO DO WITH ME. I TEND TO BE CAREFUL TO QUOTE ONLY WHAT IS
OFFICIAL FIGURES or links to articles and preferably 2-3 if I can find them.---------------
-------SO, I TAKE MY LEAVE WITH THANKS. ON MY PART, I AM TRYING TO PUT THE OFFICIAL FIGURES ETC TO GAIN A PICTURE OF CADENCE NOW AS OPPOSED TO REM THEN. So, I posted the figures here so that there can be discussion but it has turned out otherwise.--------
News, Thur, 22 Apr 2021.
I have not looked at this forum for some time as I do not think it is helpful to go to and fro.
However, I am glad I did look in and posted for AVOIDANCE OF DOUBT AS BELOW.
DYOR.
"DAVID LENGIAS"
"Lenigas was educated at Brisbane*s Boy College &
KALGOORIE SCHOOL OF MINES graduating with a Bachelor of Science [Mining Engineering] with Distinction from CURTIN UNIVERSITY School of Mines, Western Australia."
Source: Wikipedia [Put the title into the search engine to read]
----
BARKSY1
On the main KDNC forum, I think I recall it was Barksy1 who posted a link to a Proactive Investors article on M & A or another person? I did see Barksy1 post a link.
I read the article and it was ABOUT LITHIUM M & A re: the recent Ocb-Galaxy deal.
It was also mentioned that on the LONDON MKT, there is ONLY Savannah , Bacanora Lithium of Sonora & European Metals of Cinovec fame. As I pointed out much earlier and it is obvious to the market that BOTH these co*s NO LONGER OWN 100% of Sonora or Cinovec but some 50% only. So, Alistair Ford, Mining Analyst who wrote the article said there is ALSO KDNC who own stakes in BACANORA AND EUROPEAN METALS.
At this time, with the prices of lithium going up, the market IS INTERESTED IN LITHIUM.
This I stated much earlier.
That is my interest and always has been.
So, I cannot be blamed if I take David Lenigas & BCN*s Feasibility Study given that D.Lenigas is well qualified as can be seen from above. How could he have financed the drilling at Sonora via REM plc if he didnt know the difference in X or Y?
News,
Thur 22 Apr 2021.
"BACANORA - BUILDING A WORLD CLASS LITHIUM PRODUCER."
"Page 2: FEASIBILITY STUDY ESTIMATED SONORA CONTAINS
8 . 8 MT OF LITHIUM CARBONATE RESOURCES."
https://www.bacanora.com/cms/wp-content/uploads/2020/04/bcn-handouts-april-2020.pdf
------------FROM BACANORA LITHIUM [BCN] THEMSELVES VERBATIM of 8.8MT LITHIUM CARBBONATE.------------This is what BCN told Mexican press as I quoted from E & T as well---
===
DAVID LENIGAS, FOUNDER & CHAIRMAN OF REM PLC
Now named Cadence Minerals plc
With Mr Lenigas*s retirement from AIM, Kiran Mozaria is the CEO now.
8.8Mt x $12,000/t = $105 BILLION [Tomcat-14 on 14 Apr 2021 via this thread] has shown where David Lenigas got his $105 Billion from.
----FOR THE AVOIDANCE OF DOUBT: AS I STATED THE 8.8MT LITHIUM CARBONATE COMES FROM BCN THEMSELVES VIA A FEASIBILITY STUDY. -----NOT FROM ME-------
----FOR THE AVOIDANCE OF DOUBT: AS I STATED DAVID LENIGAS TWEETED ABOUT SONORA AND $100BN approximate [link given]. Tomcat-14 has multiplied 8.8Mt x $12,000 = $105 billion to show how David Lenigas got his $100bn+.
--------AGAIN NOT FROM ME - QUOTED FROM DAVID LENIGAS, MINING ENGINEER AND FORMER CHAIRMAN & FOUNDER OF REM PLC, NOW KDNC.-----------------
----SO, NOTHING TO DO WITH ME-------IF NOT SATISFIED, TAKE IT WITH THE CO/DL--------
Hope that clarifies.
News,
Thur, 22 Apr 2021.
i was just pointing out where dl got his $100bn from... ;)
Replace with:
Indeed @tomcat. $105B in ground value of Sonora RESOURCES @$12,000/t. Which of course should be taken with a huge pinch of salt in case there are any newbies reading! For reference the in ground value of the Atacama brine deposit RESERVES in Chili using the same measure is 48.5Mt * $12,000/t = $580B
Indeed @tomcat. $105B in ground value of Sonora reserves @$12,000/t. Which of course should be taken with a huge pinch of salt in case there are any newbies reading! For reference the in ground value of the Atacama brine deposit in Chili using the same measure is 48.5Mt * $12,000/t = $580B
8.8mt lce @$12,000/t = $105bn...
Indeed @tomcat. Here's a baton, hopefully you'll do a better job of explaining to @news than me! Though I suspect your patience is slightly less than mine. LoL! What we need is @Cause on the job. The best LSE diplomat if I ever saw one! ;-)
*1.650mt li... (. not ,)...
https://www.bacanoralithium.com/pdfs/Bacanora-FS-Technical-Report-25-01-2018.pdf ...
it’s on page 3...
table 1.5.1 mineral reserve...
total 243mt ore @3,480ppm li containing 4.515mt lce...
table 1.4.1 mineral resource...
total 291 + 268 = 559mt ore @3,250/2,650ppm li containing 0.947 + 0.710 = 1,650mt li... or 5.038 + 3.779 = 8.817mt lce...
you can probably see now... where the quotes you’ve used have come from... this is the drilled out reserves / resource...
Hello @news. You really need to ask for a second opinion on this if you don't trust me. It appears to me that you haven't fully grasped what "LCE" is and how it differs from the Lithium element... In summary: Salars are not mines, so don't appear in top 10 lists of mines. Some deposits are reported as Lithium weight not LCE. USGS is the definitive source IMHO and reports in Lithium.
It feels to me that you might be reading what I'm saying, but you aren't realising what it means. All I can suggest is take another read with an open mind - I certainly did that with your posts yesterday, which made me double check with the SQM source to be certain rather than trust USGS. LoL.
This link was shared with me when I asked for help reaffirming my understanding on KDNC. Please take a careful read:
https://www.savannahresources.com/lithium/lithium-overview/
I really hope it suddenly "clicks" with you, but if not, then as you say, best we leave it...
Ob
"The biggest lithium projects in the world -TOP 10."-Mining-Technology
https://www.mining-technology.com/features/top-ten-biggest-lithium-mines/
Quote:
"SONORA lithium project is the BIGGEST LITHIUM DEPOSIT IN THE WORLD." [pic caption]
"The mine is estimated to hold proven and probable RESERVES OF 2 4 3 . 8 MT
C O N T A I N I N G 4. 5 MT OF LITHIUM CARBONATE EQUIVALENT [LCE]."
"Initial mine life 19 years."
[BCN & Ganfeng mentioned as JV partners and La Ventana]
---
My Comment:
Kindly note that Sonora BCN-GANFENG*s deposit is 2 4 3 . 8 MT.
Then, C O N T A I N E D LITHIUM CARBONATE EQ [LCE] IS 4 . 3 MT.
It has ALREADY BEEN REDUCED TO ACTUAL LITHIUM, HENCE THE WORD "CONTAINED."
------
2] REM*s 2015 RNS [post below via this forum this Sun] stated " 8 . 8 MT." [Ind & Inf]
3] David Lenigas*s tweet: 1 3 MT SONORA AND CINOVEC IS 100 BILLION BUCKS.
If one minuses 13Mt from 8.8Mt = 4.2 Mt for Cinovec approx. Not sure whether DL used 8 or 8.8Mt as a rounding figure.
4] Mexican article from E & T from BCN: "OVER 8MT @250 years"
This would be the WHOLE OF SONORA INCLUDING REM 30% GREATER SONORA LANDS VIA SONORA LITHIUM LTD [LLC].
5] The Mining Technology 10 biggest lithium reserves for Bacanora at 4.5Mt [Gan JV] is only for their MINE [proposed] @ 19 years mine life.
6] TOTAL SONORA = 8.8Mt
A L L D E D U C T E D ALREADY as its a "CONTAINED" figure.
---
Your reduction of 8.8Mt to 1.66Mt has REDUCED SONORA further which NO OFFICIAL FIGURES SHOWS AS ABOVE. It says CONTAINED = LITHIUM CARBONATE EQ.
BIG DIFFERENCE?
EXHIBIT 5 OR 6
EVIDENCE
PROOF
Observer842 -- David Lenigas never gave your figure of 1.66Mt for the whole of Sonora and this is NOT in the REM RNS of 2015 nor his tweets which I posted yesterday, Sun, 11 Apr 2021.
I gave the links to his 13Mt for Sonora & Cinovec which he said 100 billion bucks.
LET*S JUST LET THIS TOPIC END.
IT MAKES NO DIFFERENCE - IF YOU THINK IT IS 1.66MT WHICH YOU REDUCED FURTHER FROM 8.8MT WHICH BOTH REM AND BCN QUOTED, THAT IS UP TO YOU.
FOR THE AVOIDANCE OF DOUBT - I Q U O T E SO MANY SOURCES & THEY ARE VERBATIM.
I HAVE PROVIDED EVIDENCE AND EXHIBITS AS SAID ON SUN, 11 APR 2021.
So, its time to call an end to this topic.
News, 13 Apr 2021.
Wanted to get a cup of tea.