Member Info for Bannor

How do you know I'm not referring to you Yap Yap? LoL .... :-)

Afternoon Yap Yap, MB, Frankie.... I agree MB an absolute load if what you flush down the loo....

With apologies to anyone else ... but you've all been well & truly knocked off your pompous, self opiniated perch, you're guidance & comments positively pleasant when measured against our newly appointed know it all (but actually knows little & can prove less) saviour !! LoL

LoL @ MD... down boy... my leg doesn't need a frantic furry massage :-))

Cause... I'd be stunned if they get payment sorted & through the banks to the creditors within a couple of weeks from now Minimum.... but anythings 'possible' in international shipping/trading just depends on the commercial arrangements which to be blunt we are blind to... Ore's in demand, maybe a discount offered for prompt, on departure or even pre payment its all possible.... but I personally would work on a couple weeks (or longer) minimum if it happens earlier all well & good...

Reckon it already had the clap MB... untreated it can lead to brain disorders :-)

Morning to you & Frankie...

Interesting ..... !!
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02359822-6A1027051?access_token=83ff96335c2d45a094df02a206a39ff4

Hi TC..... not sure what the cooy/paste comment was all about but pre easter (this weekend) I would say is very unlikely...... UNLESS we release our $2.5M from escrow today/tomorrow latest on the back of bank agreement & 20%,(fingers crossed for that!!).... ... even if they finish loading today/tomorrow it'll be a few days before before an on board BL is released & then it will require presentation & payment whether by LC or not.... absolute earliest payment comes in I reckon will be next week but more likely in a couple of weeks... that's just my opinion though as we don't know for certain what the comnetcial payment terms are, the method of payment, how much we've actually sold it for or to who as far as I can tell... so it's all a bit guessy at the mo :-))

... indeed ... & when/if we're offered the opportunity to go to 49% all I know is there'd better be a undeniable & obvious reason not to... more than happy to sell EMH/MMS to do so &/or with a raise depending on our SP at the time.... (not up for selling Sonora/Yangi or any part of either off cheap to accommodate though)....

The way it's worded it seems to be at INDO's choice/discretion if they release a further 22% .... all down to economics retaining 73% ownership means they'll need to stump up that % of additional rehabilitation funding required not covered by Ore sales revenues

All on the table I reckon .... if you consider that when the JRP was put together the price of Ore was considerably less than today so entirely possible it was thought additional financing might be required ..... hence the option inserted where INDO could ask/seek further investment & our option ..... I guess it's entirely possible now though that with the price of Ore at today's prices further injection may not be as required/necessary as was thought possible & instead could be covered by additional sales revenue received than those envisaged nearly 2 years ago ..... or maybe it's that Indo ultimately don't want more than 51% of the project in due course & we'll be invited to take 49% regardless ..... although I think the latter less likely unfortunately...

That's probably a bit rambly but can't be bothered to proof read

.... it's quite clear IMO....

In fact although Cadence have first right of refusal if Indo want further funding if we don't/can't exercise our right of first refusal ... INDO will have the right but not the obligation to buy our 27% back for $9M within 12 months from that point .... so we'll need a good reason not to if the option comes up.... as extract under....

Should Indo Sino seek further investors or an investment in the JV Co the agreement also provides Cadence with a first right of refusal to increase its stake to 49% in the JV Co.

To acquire its 27% interest Cadence will invest US$ 6 million over two stages in JV Co. The first stage is for 20% of the JV Co the consideration for which is US$2.5 million. The second stage of investment is for a further 7% of JV Co for a consideration of US$3.5 million. If Cadence is unable to complete the second stage of the investment or not exercise its right of first refusal under the terms of the Agreement, Indo Sino will have a twelve-month option to buy the shares in JV Co held by Cadence for 1.5 (1 ½) times the price paid by Cadence for such shares.

Just Bannor @ Cause17.... or is that Mr Cause17? :-))

& good morning back at ya...

Oh... there they are all of a sudden!!

Looks like my posts are being delayed longer than trades.... maybe they'll pop up at some point!!

Spot on TJ... although sight bills are payable immediately i.e. 'at Sight' dated bills of exchange would be 30/60/90 & potentially discounted if you want earlier payment etc regardless & without getting too deep into the intricacies (& complexities) of B/L's I agree - nothing has changed this morning other than the documented occurence of an event everyone knew was happening...... and we still don't know for certain regarding the payment terms or vehicle thereof but one hopes with the court/administrator stewardship it is secure.

MLQ your 10:57.... not sure what you expected everyone & their uncle knew this was going to happen from the RNS's on the 10th & 19th Feb since when it has risen 4P.... there were objections to this shipment going ahead I believe however this time denied by the courts.... once we've got our 20% I would expect a much stronger reaction... although today's not anywhere near done yet & we may yet see a further rise into the close.... can't be too many prepared to sell right now....

Nothing guaranteed but as this sale is under the direction of the courts for a company in administration I'd be stunned if it wasn't or even subject to an L/C

Title/ownership of cargo/goods is the element I see most misunderstood when it comes to either contracted Incoterms or commercial payment.

Hey Heidi, you can buy insurance for just about anything you want to serve the purpose required... under CFR the seller is only obliged to organise & prepay 'freight' to an agreed Port (or country of no port specified) & the seller is able to prove this on receipt of prepaid bills to destination... The risk transfers to the buyer at the port of departure... whether they have paid for the goods/will pay for the goods or not.....

If the ship sinks mid transit the buyer must still pay for the cargo regardless as the seller has fulfilled the contractual conditions of sale as evidenced by the prepaid bills... It would then be for the buyer to recover that loss from their own insurers allowing them to replace/rebuy the order lost.