Member Info for Bannor

What I took from below is that the original plan was to use some funds from stockpile sales to progress the project ((DFS etc) & primarily pay the banks from operational sales & instead the stockpile sales will now be used to essentially used to pay down the bank debt instead ...... this explains to me the requirement to bring in a funder at an earlier stage & hopefully by the time we get operational revenue the discounted bank debt will have been settled from the stockpile sales alone.... caveated of course by the possibility I could be wrong 🤪:

The extension of the development timeline is primary attributable to the almost two and half year delay in reaching a settlement with the secured bank creditors, this was substantially more than we had all expected. Given that a representative of the secured bank creditors indicated that they would be amenable to being paid from the cashflow after operations had started. However, it transpired that the secured bank creditors were seeking payment from the iron ore stockpiles and as such alongside our joint venture partners we negotiated a substantial reduction if the amounts payable delivering substantial long term cash savings to the project.

...well ...... you could argue he saw us lot coming 😂

Rational & reasoned post @ Doc .... only add-on is that we could be due a further £3.8M in Evergreen shares subject to meeting milestones

The Aussies seem to have liked this one....recovered 11%

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02680382-6A1155862?access_token=83ff96335c2d45a094df02a206a39ff4

..but I do like the cash savings longer term.

ANT survey identifies Bynoe priority targets.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02680279-6A1155827?access_token=83ff96335c2d45a094df02a206a39ff4

....yes you just carry on believing that...

Yes pretty cool & got the picnic hamper booked .... scheduled to be the men's quarters I think, looking forward to it 😁

....yes I try to make it part of my annual summer sojourn south ... got tickets on No 1 on the second Wednesday this year 👍

Indeed Mrs B .... & also looking forward to the tennis are you going at all?

What a load of nonsense ... so Kiran's revised commentary about it taking as long to reinstate & rehabilitate a mine as it does to start from scratch gels with this does it .... all the licences & permits, PFS a year DFS a year .... financing after DFS & then rehabilitation prior to mining .... the original timeline in the original announcement was incorrect & misleading end of.

....the point is that it was incorrect & misleading to indicate in an RNS that there was a possibility (caveated or not) of 'producing' in 2021 when it is absolutely clear now it never was ...KM in a recent interview himself stated that the reinstitution & rehabilitation of a mine was along the same time frames as starting a mine from scratch ... the fact that we are still 2-3 years away from producing & haven't even engaged a DFS contractor yet is a massive indicator as to why there's so little/no value for Amapa reflected in our SP as any realisation of value is so far off ....timelines are still uncertain and 2025/26 is I believe currently optimistic IMO unless things change ...as certainty around timelines and things start moving things may improve, although my opinions of the BoD's proclivity for information errors, raising funds & potential dilution remain concerning .... with Sonora still being a wild card at present

#..this statement

• Potential for the mine and existing infrastructure to be brought to market swiftly with mining and processing anticipated to restart in 2021 subject to the grant of the necessary permits, regulatory consents and project financing.

.....yes so much work still to do as per KM ..... 12 months to complete the DFS (not assigned yet) then financing to arrange followed by getting contractors sorted for the rehabilitation so optimistically say sometime in 2025/26 at the very earliest to produce anything ....

yet it didn't stop them including this snippet as one of the 'highlights' under the HoT .... & they wonder why confidence is shot.

.... not moaning, just stating facts as I see them today based on our history which I and many have suffered through the last ten+ years.... & every year for the past 6/7 years at AGM's I've cast votes against authorising the issue of shares & dissapplication of pre-emptive rights (whether registered by my broker or not) but have been very much in the minority.

& I agree right now, with potential news from Sonora imminent (June as alluded to) & potential news on Amapa progress, it is not the right time for BoD changes.... depending on what happens (or not) between now & the AGM though I may change my opinion on that & if so will vote accordingly.

I have absolutely no idea what replies people think they're going to get to emails, absolute waste of time in my opinion, they're not going to tell you anything that hasn't already been announced or is in the public domain & you're just gonna get some BS lame excuse or reason why we're still in the shi##er.

The 'markets' dropping AIM or otherwise being one such lame excuse, a useful coincidence for the BoD if you ask me, they've diluted, borrowed & made any number of poor choices, decisions & mistakes in my opinion & it's not been a great investment return in over 10 years now has it!!

There could be a number of things that 'could' or 'might' occur on the horizon that might kick this up some but watch the exodus if that happens .... & Not forgetting that so far they've managed to p/ss on every previous rise we've had ....

Just my thoughts on it

Amapa is directly related (at least 2 years of producing)

Sonora is directly related - uncertainty lingers on exploitation of what, where, when by whom.

HAS/EG1/EMH are directly related.

J Curves, Government policies, innovation are indirectly related but have no bearing on our fortune or SP

@Jimb ...did I say J curves weren't factual.... did I say that governments/agencies haven't created lots of legislation concerning a green future, did I say that there wasn't a lot of technical innovation ..... Answer to all the above is NO I didn't say that all .... I said I could find it and repost it .... I also inferred that all of the above has done absolutely squat for KDNC which is the 'FACT' you should have taken from my post 😁

3bn to the equivalent of 20bn shares (with potential for more dilution)

With the 'potential' exceptions of Amapa (years off) & Sonora (uncertainty lingers) ...... Less than successful investment choices & or management/partnership thereof.

Dodgy 'friends'

Dodgy loan deals.

Fortunately for our BoD though they've managed to keep themselves in Tea & Hobnobs for a good few years and maybe more to come yet.

I can only hope we get a unsolicited & aggressive takeover offer at 29p a share - which I'd accept in a heartbeat & would scupper their options 😂.

All in my very own opinion mind 😜

Will I do.?? .... I'm pretty sure I could locate & resurrect some of the many many posts on J curves, governmental green support/policies, new battery technologies etc etc along with loadsa other stuff not directly related to KDNC ..... heck I could even say that the BoD have loadsa options at 29p 😂 ... come to think of it, they had freebies at £2.18 per share and the Gilby report at £104.00 per share PMSL .... what's not to like.