Member Info for Bannor

Morns MB ... at least this snippet's talking about reducing rather than replacing entirely as many do 😂 ... all about the Fe for now for me though.... EMH & all our other OZ holdings are in the shredder currently nothing else to Ra Ra & wave me pom poms about for ... still KM & the BoD are still getting rewarded handsomely even if we're not eh so that's good at least ... we're like the cow that just keeps getting milked without needing feeding 🤣

Hogmanay was great thanks nothing like standing on the balcony overlooking Tob bay at midnight in the rain with a nice whisky watching the fireworks explode at eye level ✴️

....think I might have worked out what's floating around in my half full glass,anyone else smell it 🤣

LoL .... gosh not even I'd thought it could be that bad 😂 ... the thought of our BoD thinking any EG1 scenario through more than as an interested shareholder sends shudders down my spine with our past history 🤔

Anyway I should add that my KDNC glass is also always half full .... Just not sure what that is floating around in it sometimes 🤣

OK ... but PMSL 🤣

...so in may $50M was committed to early works and today early works 'remain paused'

...that was back in May ...this is today!!

Summary

• The strategic review to preserve business value in light of weak market conditions is continuing.

• Processing operations will continue from existing stockpiles and mining in the Grants open pit will be temporarily suspended.

• The BP33 mine study will continue and early works will remain paused until market conditions improve.

• Discretionary spending including studies, exploration and corporate costs will be reduced. As previously announced, Core Lithium (ASX:CXO) (Core or the Company) is completing a review of its business activities in the light of the significant decline in spodumene concentrate pricing.

The price of spodumene concentrate has declined more than 85% in the last 12 months, including by 50% since the end of October 2023.

The strategic review1 has examined how the Company is best able to reduce costs and schedule growth projects to preserve business value and optionality. The review has identified a range of actions which will commence immediately. The Company will continue to closely monitor market conditions to ensure mining can recommence should market conditions improve.

... 😂 ... so Core & specifically BP33 that was being spouted here as EG1's guiding light is now pretty much just another marker on the map of inactivity ... although the rationale might explain why EG1 have done stuff all more than spout on about reviews, pouring over historic data, mapping & simple sampling ...

& she's off .... let the ever hopeful countdown to a blank space begin 😂

....not that I care one way or the other but the link between the exchange & LSE seems to be down as 22 trades have been made so far today (& by the time of the post under)

Hmmm looks like the link with the London stock exchange & LSE is broken as there's been 15 trades so far today just not showing on here 😕

....that hidden trade is on KDNC.PL .. seems unlikely it's a buy looking at the SP action here & there!!

Indeed @TC ... the conjecture was all mine when it came to LC's & discount houses 🤔

I will thank you ...but I won't be thinking about you as I do it 😂

@ TC interesting sum ..... Especially if we can get a buyer up front prepared to raise an LC for the full agreed 'sale' value of the stockpile with the headroom to go to a discount house to realise sufficient to pay the banks 'in one swoop' & leave sufficient for the DFS ... who needs a JV partner!!

Pure conjecture of course but an interesting sum 🤔

Ooh touchy touchy ... but then if you feel the need to be so defensive perhaps there is also something felt necessary to defend 😂

Who (apart from you) said anything about anything being intentional?

Your post simply states (without caveat) that you have some confidence etc etc without qualifying that paying the banks in one swoop wasn't yet a certainty but a wish & subject to ongoing negotiation & an agreement that is yet to be made .... you aren't misleading anyone with knowledge as to exactly where everything KDNC current sits however anyone else reading your post, perhaps with a first time interest in KDNC could easily surmise from what you've posted that the payment of the bank creditors in one swoop was just a formality in due course ..... which if the ongoing negotiations provide the outcome hoped for they might well become (let's be positive LoL) but the fact is they are not yet....

Never mentioned anything intentional about your post & it is just as easy to unintentionally mislead as it is to be unintentionally misled....

Laterz

...... this is one of the issues when reading posts it's easy to mislead or be misled .. . the way you've written that is that it's just a matter of time before the banks are paid off in one swoop but don't mention anything about that it is a wish & he 'hopes' we're getting there .... then also nothing on the 'how' that might happen with whom & how much of the project we might need to surrender for someone else to 'pay off' the banks ..... Don't get me wrong it may well happen but there is a chance it won't he also said he 'hoped' to get it done this year earlier in the quarter which he hasn't & if we do get it done the structure & bones behind any settlement may yet dictate how much it does for us .... this from the interims again just points to hopes & desire not a foregone conclusion or done deal:

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As previously disclosed, given these unprecedented macroeconomic conditions in 2022, DEV could not meet the 2022 payment schedule per the settlement deed. Although the bank creditors have reserved their rights, the settlement deed remains in full effect. All parties are in discussions to agree on a new timetable to rephase payments OR to reach a one-time payment to settle all outstanding amounts.

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Oh if it wasn't for that little 2 letter word 'OR'

"Beware Chinese showing an interest. My holding in Bacanora was taken for a song. A Chinese song.? Later events however in Mexico soured the deal for them. Remains to be seen what Cadence can salvage from their remaining interests in the project ?"

...we have no remaining interests in the project as the licences are cancelled what level (if any) compensation & more importantly when remains to be seen .... It'll be years & costly though IMO as I can't see the MX Govt agreeing to arbitration in any event which just leaves a drawn out legal process.

"DL by any chance @Barksy lol" ..... fortunately I think most have got wise to him now but I still find the hackles rising whenever he's mentioned ... steer clear of anything that (IMO) snake oil selling shyster with NPD gets involved with.... nothing but a trail of failures & people nursing headaches in his wake as far as I can tell .... wouldn't trust anything he says whilst he's still breathing.

...completely agree @ Dallas ... we shouldn't be considering selling the whole asset at anything less than a DFS based value & why would anyone buy us out for that when they might as well wait for (or fund) the DFS in any event .... the bank payoff needs to be addressed but I personally see that as more of a sideshow now ...

.....make that 80 posts LoL 😂