The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Rg33 - I look over at UKOG when I need to cheer myself up about this !
It doesn't really matter what plan you choose....the DFS is what you take to market and sell to potential financiers.
@Dallasdaz,
are we talking plan A or plan B, and the extra potential ore from Toscano? and will it be 67% shipped to the US?
Given the PFS was based around plan B - lower grade ore with a now known cost saving of circa $50m plus tax incentives with the procurement from China, should that have given the scope to include the DFS at a reduced risk?
Seems everything I considered positive is leading to deconstruction - ;-)
@jimb2, "So if the DFS costs have or will be swallowed up into the project cost then who has agreed to this?"
KM: "So what we've done and with discussions with these and er any potential equity and debt financers is discussing the requirement for a DFS, so at the moment what were the view is um is that the DFS or will get rolled into the implementation phase."
So we don't currently have any firm equity or debt financers but.... potential equity and debt financers are of the consensus that the DFS can get rolled into the implementation phase.
If a PFS is accurate to around 20% - 30% and a DFS is accurate to around 10% - 20%...what potential equity and debt financer is going to fund the project pre DFS with a potential 70M hidden cost?
Yes @Dallasdaz,
no denying that was the case, as was in the first announcement:
Project Financing
Under the MOU, TCIDR will use its best commercial efforts to secure the required financing for the construction and re-development of the Amapá Project, including the necessary guarantees, project finance insurance and debt financing. In this regard, TCIDR is in discussion with SinoSure China Export & Credit Insurance Corporation and China Development Bank.
PBA, DEV and TCIDR will now develop a roadmap to seek to secure the financing for the DFS and subsequent project financing for the Amapá Project, and a fixed price EPC contract between DEV and TCIDR that will have the project finance, export credit insurance and credit support by TCIDR.
I suppose we should be asking where SinoSure fits in as the improvements in flowsheet design and plant procurement has been done in China with the sample shipments also being shipped there - so if the DFS costs have or will be swallowed up into the project cost then who has agreed to this?
The plan up to December last year was to complete the DFS (subject to financing) this year in line with granting of the licenses.
The goal posts were moved and the DFS kicked down the road because we couldn't fund it.
https://youtu.be/CjScNlQ51kA?list=FL_H_anZsVqu67H60kmT4EeA&t=380
@Dallasdaz,
both stockbox interviews covered the DFS funding:
Last Month:
https://www.youtube.com/watch?v=gEswmiGsVUA&t=630s
11 days ago:
https://youtu.be/5DTCChBU_fA?si=A7s_my4CNaevHmQn&t=420s
Admittedly these are based around talks with unknown potential partners, I did take this as giving a degree of confidence that they were in serious talks given the DFS would not be required prior to project financing - it may be I'm wrong or things may have changed - If I'm having serious doubts on the ability of the bod to see this through to delivering shareholder value - then heaven forbid!
Reduced capex, looking a construction early 2025, potential NPV increased to near $1.5bn, Green Iron shipping to the US....... and we near half in SP and wipe out our HAS holding.
Im 95% down here, but i managed to get out of UKOG with a 2k profit....
Fat Dave and his mates have a few of these going, GUNN, EUZ, INSP, CEG (was Lenigasoil).... DORIMUS, decamped to Australia, OCTAGONAL, same.
For DFS, it will be part of implementation by which time we have project funding.
No funding needed,
Because we failed to bring someone in to fund the DFS....
You are not alone @ghin
@EV_Bull,
I agree, KM did say the unfortunate situation with HAS was justified by a better investment in Amapa, seems we've left the blackjack table to hit the roulette wheel with more or less all chips on Amapa.
I cannot see why we stretched ourselves for 1% increase in Amapa, that's one answer I'm looking forward to!
Can’t complain: 🙄🙄
I’m only 94% down here! I’m 98% down over on UKOG..!!….Both Lenigas concoctions, if I remember!
Believe me, no rose tinted glasses about this, not wishful thinking, I fully accept the need for the placing is a disaster and a strategic failure.
Management took a gamble that EMH would go up and it went down 50%.
Management need to be clear with shareholders on this as they've essentially bet the company on the EMH share price by taking the loan. They had the opportunity to sell EMH instead of doing the 20p placing previously and clearly with hindsight that would have been the right thing to do. I can see there were financial incentives not to sell which are of concern.
I am not going to sell out at 3p because I believe Amapa can still be sold for somewhere in the region of 25p a share, or more when fully licensed, the Sonora litigation may yet hold substantial value, the Evergreen project may come good and I hope that the new shareholder will push for realisation of value and significant return of capital to shareholders. Maybe this becomes a Sonora litigation play and Amapa is sold with cash is paid out to shareholders.
I don't want us to take the construction risk and end up like HZM so better to sell obviously above the $110m valuation we have been buying in at.
Clearly buying 1% for $1.1m and then selling 8% of Cadence for £500k is a ridiculous situation and I can only assume we were obligated to put the money in to Amapa, management need to explain this also.
Clearly not smart enough, jimb
Check out how many of his companies are breaking even, let alone up!
FYI...NON are up
https://find-and-update.company-information.service.gov.uk/officers/eAjGE-dUweTXKPZ0y059J3TDaAM/appointments
why would you hold? unrecoverable pile of **** this share has become.
unless someone is careless to chuck a lot of money at it and take a big gamble to make a little bit of money from small rises, there is nothing left in this share.
the castle has disintegrated to a pile of sand ....
You seem too smart to be duped @Ghin, when did you sell?
Stop with the wishful thinking. We're being duped.
If you can add 50% to Amapa NPV for 8% dilution (& warrants) then maybe it works out better than selling Amapa now without licensing in place.
....thanks 😊
LSE admin .... Sort it out it's Monday morning
If the two are the same… it’s possible that the project level equity was conditional on this happening as part of that… i suppose… with it happening on the last day of the tax year ending 2014… may mean that it will have all been off the table today…
The following securities will be withdrawn from trading in the Aquis Stock Exchange Growth Market with effect from market open today, 08 April 2024:Cadence Minerals Plc
Well hopefully the financing we have is enough to take us to a JV or buyout position, let's see what gets reported over this week - by end of this year all should be in place for construction and talks with several parties are ongoing - I'll wait the few days it hopefully takes to see through the reasons for what appears to be an ' out of the blue' cash raise.
perhaps the developments for supply to the US with 67% grade Green Iron has some bearing, I don't believe shipping those samples to China was seen as imminent:
https://youtu.be/5DTCChBU_fA?si=8w40SHobLsogpnv9&t=545
They must have an interested party in place, a possibility a decision on financing is pending the results.
I would like to see an RNS with 'Expedited'