Member Info for Bannor

Hi Obs ... yes I think I probably do ... but I do stand to be corrected if someone feels they know better .... but I reckon a Handymax is gonna cost a minimum of ~$15k a day plus crew & other direct costs for a 29 to 32 day transit then plus loading/unloading day(s) ... plus all the haulage & handling required at the moment to ferry the ore to a usable port from where it is (Jorge's donkey will need a lot of hay to pull that off!) .. as I said I think the cost would probably half if we could load at the mine port....in Sea freight the bulk of the costs is often in the origin/destination costs with the port/port piece being something less....

..I'll take that .... .that one's easy ..... worst case SP =ZERO ... you've invested in AIM companies before I assume LoL :-)

in the same period the price for 63% ore ranged from

From CADENCE RNS

• 65% Iron Ore (CFR) North China have increased from US$95.95 per dry metric tonne ("$/dmt") to US$111.90 / dmt since early September 2018 to the middle of May 2019

In the same period the price for 63.5% ore ranged from $69 to $94

....or dmtu

Choosing not crossing !!

Obs .... you've been provided with a link that shows you the current prices for various %'s of ore .... & you've answered that with a link to a paper that says there are 'alternative' ways of contracting the sale/purchase of ore using a different structure... sorry but that doesn't make you right or support your argument...... that's like me crossing between buying washed potatoes in a bag or picking out the dirty ones that are cheaper because I'm paying for the mud they're caked in!!

If that's the case the price for ore would be consistent wouldn't it & then you'd calculate the value by the percentage of fe present .... why would 65%fe cost an additional $20 a tonne!?

For me the $27 shipping is fully inclusive up to destination port ..... about $500k for a Handymax charter vessel for ~32 days then as much & probably a touch more for the mass haulage to the main port & loading.... once the private port is up & running I'd expect costs to serve in terms of shipping to halve at least....

....... you sure about that Ob....

https://www.metalbulletin.com/Article/3876004/IRON-ORE-DAILY-Prices-resilient-active-trading-in-65-Fe-derivative.html

Sussed it @Obs........... Jorge is on his way.... :-)

https://www.bing.com/images/search?view=detailV2&ccid=LAGciHLC&id=0C829EB0B8D9F979AAB533F27994D1FF89E7893B&thid=OIP.LAGciHLCKv_xB285SrR-EAAAAA&mediaurl=https%3A%2F%2Fimage.shutterstock.com%2Fimage-photo%2Fbahia-brazil-march-11-2017-260nw-1019023468.jpg&exph=280&expw=390&q=Brazil+donkey+%26+cart&simid=608050056177323371&ck=DCA4AF32EF4C333B9C48396067F6ED77&selectedindex=6&ajaxhist=0&vt=4&eim=18&sim=11

truck 1 (truk)
n.
1. Any of various heavy motor vehicles designed for carrying or pulling loads.
2. A hand truck.
3.
a. A wheeled platform, sometimes equipped with a motor, for conveying loads in a warehouse or freight yard.
b. A set of bookshelves mounted on four wheels or casters, used in libraries

So after the statement below Ob if you weren't going to be surprised at a placing in the 30's .... how do you feel now LoL circa 13bn pre consolidation..... & why (just out of interest) did you think anything Kiran said would make complete & utter sense when it's probably Mrs Padovsky's 6 year old who proof reads RNS's. :-))

". I'm quite hopeful of another multi-bagging from here and wouldn't be surprised to see another discounted raise from whatever that peak is, though hopefully not so severe - assuming we don't sell an asset. Perhaps a peak into the 40's and a raise in the 30's?"

LoL ... sorry MrJ.... don't know whether that was aimed at or with me !!! not to worry either is fine anyways :-))

@Obs .... that's one of the many differences between you & me .... you think the BoD have had a reasonable plan & know what they're doing hence why against every play they've made so far you've argued it's virtues, values & got your magic calculator out to produce fabulous numbers when anyone has voiced concern or doubt... whereas I (& a few others I think) just believe they're a bunch of chancers using other people's money to play & pay themselves with, we had a couple of fantastic JV's & a reasonable holding in BCN when we had 3bn shares in issue .... we now have the equivalent of 12bn+ shares with more to come & have sold out of BCN at significant loss.

If they had needed a loan to protect themselves against BCN's plans or actions that was clearly achievable by a loan of £4.5M to purchase shares at £1each & yet they borrowed 3 times that spent on shares/projects they've either sold or are selling at a loss.

I don't know the circumstances around how we originally got involved in Amapa but whether by luck or effort & despite my initial reservations it could be the rescue/making of us & pave the way for us to pay our way &/or hold onto valuable JV's until they're desired by others more than we need sell them.

Shame on you Mr C for thinking it was the BoD's fault the SP here declined 90+% crikey you'll be blaming them next for saying something that may have led to BCN's decline & difficulties!!..... poor them all they've proven so far is they can't pick a share to invest in any better than me....... the success (hopefully) of Amapa won't change my opinion much ....

@Ob .... unlike you I don't believe the fluctuation/fall in Li prices had as much to do with our own dire collapse as the loan & the BoD's actions .... the markets haven't included much of anything 're Sonora in our SP for yonks since the mining timetable & of course the farcical takeover attempt of BCN .... you say Merger!!! only the cretinous minds of our BoD &the former puppetmaster could have considered something so hairbrained & ridiculous a viable course of action.

Nope as far as I'm concerned our dire mess is wholly of our own Mingases making, as for Tesla wasn't you who once said something along the lines of they wanted to secure gold for the price of peanuts?

@TC me either not shipping, not (necessarily 20%) but Amapa related..... unless of course they're brave enough to publish 2019 accounts first!!

"My understanding is that it is quite reasonable for a company of our nature to have a certain fraction of the company's NPV as debt, perhaps 20-30%, which we can use to leverage our investments whilst minimising equity dilution. HOWEVER. As we know should our capital backing this and consequent ability to repay shrink sufficiently that this percentage debt increases substantially, a whole world of pain can ensue, as was the case during the past several years amongst a backdrop of falling lithium prices heavily impacting our lithium plays (primarily Sonora and Cinovec)."..........

........ nothing to do with the ridiculously unnecessarily high $15M loan from dodgy source(s) - that for the most part was put to no good use, by a rubbish board at the behest in many instances of a slimeball & has now since been sold at significant losses everywhere it was invested & remains as a morphed millstone round our necks to this day currently then??

Indeed Dallas .... gotta say as with most of the projects/plans/decisions this mob have made since supporting BCN drilling & proving up Sonora & taking a direct stake in them I had my doubts Amapa would get off the ground any more than anything else has .... however now we've progressed Amapa to this point it does look promising & may just save us from the mess the Minigases have created ... it really is a make / break point IMO & looking more like it might be the former rather than the latter so they might just pull a nugget out of the $hit pit they've been filling for the last 6 years :-)

London if you do want to continue posting negatively, as is you're right & where the BoD are concerned (both current & previous) there are few more vocal, derisive & negative than myself, then you really should get it right & make it clear....... I've amended you post as below:

--------------------
The past is irrelevant ... not sure I agree ..... (fair enough)

That once sat at 2p pre 100/1 consolidation (i.e. equivalent to £2 today) before it went all the way down to 0.09p also pre consolidation (& fell further to the equivalent of 0.035p after).

We only restarted at 9p after consolidation, so in real fact, we are only back to the equivalent pre consolidation SP of 0.11p (or £0.0011).

Indeed Dallas.... the 60 day court imposed clock on the banks is still ticking & if that was ruled on the day of our own announcement (14th Apr) & it was calendar days rather than working that's the end of next week ..... if the court hearing was a few days earlier all the better .... so news on the bank creditors (either acceptance or details of their own defences) could be very very close but at worst a couple of weeks off .....

Completely agree ... think we're now at a point where Amapa will make or break us to be honest .... we've sold (& still selling) just about everything (& more) that we got with that ridiculous 'high street loan shark' loan at significant losses on purchase coupled with significant dilution over & above that in the original loan...& it's still with us now.

If Amapa progresses as wanted/hoped/expected without hiccup we should survive this mob of a BoD through to JV exploitation if Amapa fails for any reason I think we'll end up a dead duck unable to do anything but sell remaining jewels for peanuts.

After so many years of poor performance, bad decisions & choices it all rests on whether they've finally fallen into a piece of gold instead of a big smelly Gobbygas shaped turd for a change...