Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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mlq/ as l see it should it not be US$ not RU$ if l am correct we would need 4 ships at least , you are free to correct ME if l am wrong again.. LOL
Not sure why. My view is it supports the view that the deal is imminently impending:)
That spooked a few into selling @legal:
Thanks for sharing thoughts everyone.
Agreed EV Bull, I think it is simply a dumbing down exercise. An agreement in principle is exactly that. The banks representatives negotiate. They reach an agreement they’re happy with. They return to their bank and present the agreement to the lending committee who then consider it and presumably sign it off. Both versions are compatible with a COVID caused delay.
It's not really anything major just dumbed down really as "awaiting credit committee approval" became "covid delays". I wouldn't read too much in to it.
My **Guess** on #4:
Regarding the presentation and Marlin I think they were trying to hold off on announcing anything until the deal was properly signed off and ratified. It could be that they had some kind of agreement allowing shipping to continue (perhaps via email) but until legally approved by the courts they didn't want to announce anything. I don't think they would want to jeopardize the deal by making something public that they don't want to be yet, hence the slight covering of tracks and mixed messages.
In early September 2020, we announced that DEV, Indo Sino and Cadence had agreed in principle to the settlement terms proposed by the secured bank creditors (“Bank Creditors”). We understand that two of the three Bank Creditors are awaiting credit committee approval while one has already achieved this.
Versus - let’s just use Covid as an excuse... even though this has been dragging on since Sept 2020
In early September 2020, we announced that DEV, Indo Sino and Cadence had agreed in principle to the settlement terms proposed by the secured bank creditors ("Bank Creditors"). The investors and DEV remain in constant communication with the Bank Creditors and all parties are aligned to finalise the agreement. We have been informed of some further delays with two of the banks (based in India), whom are experiencing staff shortages due to the COVID-19 pandemic.
So I know that it says this in the original RNS as well but I’ve only just clocked it.
So according to the RNS the first two shipments covered 3/4 of the $10m for the creditors - so based on that the 3rd shipment should have covered the remaining $2.5m
So why haven’t they announced that stage of the project has been completed?
And what about the 4th shipment Marlin V which they haven’t even acknowledged and why did they change the June presentation to read 3-4 shipments when clearly based on that RNS 3 shipments would have easily covered the $10m
Clearly many lies being told one way or another - beginning to wonder whether these are get out quick signals before they announce it’s all fallen through.
Morning, I am just catching up as haven’t been around last weekend. Can anyone point out the main bullet points of difference between the article and the rns. Is it good (imminent)or not quite so good (delay) and should I be looking down the back of the sofa yet again ;)...thankq in advance
Agreed, looks like a draft, but nevertheless quite revealing.
That’s my thinking too EV Bull.
I think the branduk website appears to have an earlier version on the same RNS, perhaps the wrong version was uploaded as it contains mistakes e.g. 2021 instead of 2019.
Some of the othere changes are quite revealing.
Amazing legalease, I can't understand why there would be so many differences.
There are some subtle differences to the rns of the same date…
yes, I think we pay them (Alan Green) brand uk marketing / pr company so they post our news.