Member Info for Bannor

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.

Heidi, INCOTERMS & PAYMENT terms are 2 different agreements.....

INCOTERMS determine the transfer points/places on who pays & is responsible for organising what activities & services related to the shipment of goods as well as the transfer point of risk.

Payment terms are the commercial agreement for the settlement of debts arising from the transfer of goods in line with the INCOTERMS agreed.

Ownership/title of goods should be protected by retention clauses & where this is not practical/possible handover should be arranged to occur after payment is made.... as this is court controlled I expect/hope original bills will be required & won't be released until payment is secured.

Right...... Still would've preferred we had secured our 20% prior to any shipments commencing & hope it's days/weeks rather than months away but c'est la vie.... now shipments have started hopefully the banks will also now sign up

You know the payment terms then Obs?.... How do you know it's months away, could be on shipment, could be tied to the release of original B/L (likely IMO as the sale is governed by the courts) ... could though be any number of days under deferred payment terms... What makes you say it will be months away?

Crikey TC Q221 that's about the year 2075 - reckon even my Zimmer will be rusty by then!!

Morning Frankie / MB

Silence, suspension, news?

Well maybe better give it till 9:30 ... give MrsP time to get them out of bed & tea & biscuits down em.... for some reason I put them down as probably liking a jammy dodger!!

...... don't think you need to worry about it too much yap yap..... for a start our BoD aren't (weren't) in a position to agree to anything based on anything as they don't currently own or sit on the board of anything related to Amapa............ yet at least.

Secondly the co is (& has for years been) in administration, with the Ore assigned as guarantee to various creditors so not available for sale under any other contract long term or otherwise.......

Finally the courts & Devs push to allow shipments has been based on the premise that the current ore prices are so high ... that wouldn't carry any weight if they had to service low priced contracts.

Time to chew on a bone for a few hours to while away the time until we get an RNS outlining what the position of shipment, bank agreement (or not) & our ownership (or not) is .... I don't think you'll be waiting mire than a week tops.... then you can get some good boy treats to go with that bone :-))

Ah.... So it's me that needs to keep up as well :-)

.... not that it really matters but ships often arrive on a day (in this instance today) & Anchor up waiting to be called into port (when a pilot vessel/tug will escort it in) ... so there is an ETA to the port (Anchorage) then a transfer to the dock .... then an ETS/ETD (loading/checks/documentation not always progressing exactly as planned) ..... not saying it won't move directly to the loading dock just that it wouldn't be unusual to see it at anchor for some time beforehand ..... that said if the docks clear & everyone + support vessels are available & organised why not....

Either way I'd still prefer it to happen with our 20% secured....

..... you need to keep up ... indications are ship is arriving today ETS 01st Apr (yes April fools day!!) .... just need the related RNS (when it arrives) to indicate we have 20% as well though to really make my day ... otherwise we'll still have nothing. :-)

..... I very much suspect this is the account set up to receive funds from Ore sales & dispense funds to creditors under the control of the courts.

That's my opinion anyways unless someone knows/can prove otherwise.

... so it is in Fujian province.... LoL

... Perhaps it's a word smash of:
Guangzhou, Zhianjiang &/or Xiangang (Tianjin)

I'm not yours or anyone else's pal on here 'chum' .... you want to talk about KDNC go ahead there are plenty who will join & respond to you on it.... should you choose instead to complain, moan, join in or comment about other topics/discussions on the board whether about KDNC or not you'll also find posters who will respond to that as well.... that's just the way it is sweetie? :-)

Whilst you're checking Eric can you see if he's also taken Nick's power of choice ... poor chap seems to be being compelled to read posts he doesn't want to, Y suffered the same problem when it came to Frankies posts & responses .... it must be terrible lacking the capacity to ignore that which holds no interest for you leaving no choice but to complain & gripe about it instead.

7AM's closer.....

hit

.... why do you think people are 'losing their shirts' lots of newbies bought in at below 5p & lots of LTH's averaged down well below the current SP.... Just as likely people realising profits on those & putting it elsewhere whilst Amapa drags on IMO

Been too much selling just to keep the lights on Mr J... I'm thinking (hoping) there's now a pot of cash to take us to 27% in short order after 20%... or at least that's the plan once/if/when we get the 20% over the line....

.... Yep some more selling.... Good move IMO & the threshold was crossed on the 09th so could be a few more sold since then.... might even cross below the 10% threshold & see Kiran step down from the board just at the time he might be required to sit on another instead :-)