Member Info for Barksy1

Yes the flowerpot men and weeeed ;)

Yes Comack , that was Pete alright, said it like it was and said what a lot of us were feeling at the time. He is a great guy with a big character and if he could if he would have given a certain poster on here today more than a penny’s worth .....if you are able to look in Pete I hope you can feel the warmth towards you here and on the other channel. We will get to our goal Pete . He has continued to invest all the way through his progressive illness .
Come on Kdnc do it soon for Denver.

For those of you who remember Denver21 I have received an email from his wife .

Dear all, it is with great sadness that Peter illness MND has taken a dramatic down turn and he can no longer communicate. But sends all his love to you all. Especially those he had a great affinity with. He is sorry he can not send all his love individually to you.

Pete xxx

Hello Mac , I wonder where Mac 69 is? Wonder if he turns in still. He had a decent holding as I remember

Page 2 Meanwhile, Brazil’s iron ore shipments to China have started to increase again after hitting a seven-month low.
Vale, the South American country’s largest shipper of iron ore, has plans to increase its exports with new mine projects.
Port-side stockpiles of iron ore in China have risen to 129 million tonnes as of last week.
Hard coking coal prices trade sideways in uncertain market
The price of hard coking coal at the Queensland shipping terminal of Dalrymple Bay was steady week on week at $US95 per tonne.
A Panamax shipment of hard coking coal with an early December loading time was heard sold in the market at $US107 per tonne.
Cargoes of Australian coking coal for delivery to ports in northeastern China were heard at $US125 per tonne, up $US12 on week.
Traders said Chinese importers appear to be taking more shipments of coking coal from North America, despite its higher price.
There is market speculation that China is preferring to book cargoes from Canada and the US over Australian cargoes.
Coking coal futures prices point to tightening supply
Futures contract prices for Australian coking coal on the Chicago Mercantile Exchange (CME) are trading in contango.
For December settlement, the futures price is U$122 per tonne, rising to $US134 per tonne for January 2021 and has hit $US173 per tonne for March 2021.
A steep price contango, whereby prices steadily increase, indicates a growing supply shortage next year — in this case of Australian coking coal.
This potential looming shortage could trigger significant price rises for Australian coking coal in 2021.
Immediate outlook for coking coal prices is mixed
Latest import figures show a slowing in the international trade for coking coal into the Chinese market.
China imported 13.7 million tonnes of coal in October, both thermal and coking, and the total was not broken down by category.
This represents a sharp year-on-year decline of 47 per cent, and a drop of 27 per cent on September’s imports total.
“The fall in China’s coal imports reflects China’s coal import quotas,” said analysts at Commonwealth Bank of Australia in a note.
China has strict annual limits on volumes of coal imports allowed to enter the Asian country and Beijing regulates the import trade.
This is because China tries to safeguard its own coal industry from competition from coal exporting countries.
“Policymakers [in China] are reportedly targeting total coal imports of ~270 million tonnes in 2020, implying a 29 per cent on year fall in China’s coal imports is required in November and December,” said the CommBank analysts.
Source: Stockhead

Iron ore prices hurtle to a seven-year high, coking coal prices lag on quotas
in Commodity News 12/11/2020

For the key steelmaking ingredients of iron ore and coking coal, it was a tale of two different markets this week.
The price of iron ore punctured the $US120 per tonne ($164.70/tonne) barrier this week, its highest since early 2014
This was on account of a stronger market for steel in China which is targeting massive investment in its infrastructure.
For the 62 per cent grade iron ore fines product, spot prices were transacting around $US121.75 per tonne, according to Metal Bulletin.
A week ago, iron ore cargoes delivered to ports in China were trading around $US116.85 per tonne, the price reporting agency said.
There are market indications that China’s demand for iron ore will remain strong over the course of the economic cycle.
A dozen Chinese steel companies have struck long-term supply agreements with Fortescue Metals Group (ASX:FMG).
The deals were agreed on the sidelines of the China International Import Expo and included FMG shareholder, Hunan Valin Iron & Steel Group.
Other steel firms in China such as Baotou Iron & Steel Group, and Rizhao Steel also signed agreements for FMG’s iron ore.
“China’s steel industry continues to outperform expectations, with crude steel production in the nine months to September 2020 reaching 782 million tonnes, and annual steel production expected to exceed 1 billion tonnes in 2020,” FMG chief executive Elizabeth Gaines said.
Prices for steel products in China climb on rising demand
Steel product prices in China are starting to rise, as are futures prices for hot rolled coil and reinforcing bar in China.
The price of steel reinforcing bar (rebar), which is used in construction and concrete, rose to $US605 per tonne, this week.
This is up $US22 per tonne on a week ago, according to reports.
Fresh environmental restrictions on steel plants in Tangshan are also creating demand for higher-grade iron ore.
Higher quality iron ore commands a higher price in the seaborne market, and the cost flows through the supply chain to consumers; in this case, steel mills in China.
Iron ore shipments to China are on a roll
China’s imports of iron ore increased in October to 106 million tonnes, representing a rise of 15 per cent on-year.
“China’s demand for iron ore imports has increased on the back of strong steel demand and positive steel mill margins,” said analysts at Commonwealth Bank of Australia in a report this week.
Beijing has primed its economy with stimulus money to offset a decline in activity from COVID-19 restrictions earlier in the year.
“China’s infrastructure sector has led China’s steel demand growth due to policy support after COVID-19,” said the analysts.
Meanwhile, Brazil’s iron ore shipments to China have started to increase again after hitting a seven-month low.
Vale, the South American country’s largest shipper of iron ore, has plans to increase its exports with new mine

ue
17-Nov-20 13:45:55 15.1555 149,956 Sell* 15.00 15.50 22.73k O
17-Nov-20 15:35:38 15.30 750,000 Buy* 15.00 15.50 114.75k O
17-Nov-20 15:35:51 15.50 750,000 Buy* 15.00 15.50 116.25k

Can’t stop giggling now though after reading yapyap ‘s. tale of woe

Will be sad to see you go mb and I have to tell you that the ‘departure lounge’ is well. ...dead quiet at the moment ,). Watching and wAiting is the name of the game atm.

All is quiet all is calm .....

‘Always jam tomorrow barksy ,mr lithium’

Hey, it’s preferable to ‘jam on your face ‘ don’t you think ?

Hello Degsie, that interview with Kiran was from Twitter yesterday and dated Nov 17th.

https://twitter.com/hyperchangetv/status/1328763674383814657?s=10

Page 4
Q5: Finally, we’ve seen recently that directors are increasing their stake in Cadence Minerals, do you have any comment on that?

A5: Yes, we have. I think we’ve been all buying and it’s much more concerted effort across the board and I think it’s really important that directors show an alignment with shareholders. Off the top of my head, if we look at the amount that the directors have invested directly, over the years, it’s somewhere in the order of magnitude of £300-£330,000 and, in the last year, we’ve invested the last majority of that.

So, having directors aligned with shareholders, I think is really important, and having directors contribute a large portion of their salary into the equity of the company and on market is also important.

Of course, we have a fundamental belief in our assets but this is also sharing alignment, which is a really good corporate governance standard to have in place. We’ve missed out on that value proposition, I suppose, this is another reason why director sees value but, of course, everyone should do their own research.

When you look at what we’re getting this asset for, $6 million for 27%, which if you gross that up, it’s around $22/$25 million, historically Anglo American had it valued on their books as $600 million. So, there is the value, ultimately, there’s where we see the potential value for the company going forward.

Nite x

Page3
Now the bank settlement has taken a bit longer, DEV Mineração got a court order at one point to actually ship before the bank settlement but subsequent to that, that’s put pressure on the banks to come to the table in a serious manner. As we announced a couple of months ago, we’ve had an agreement in principle with them, we’re now going through the preparation of the documentation, that’s taking longer but we’re dealing with three banks with three different corporate cultures across two countries. So, they’re just more complexity and much more administration and process that they need to go to, understandably, while us, it’s a team of four or five people at high level that can make these decisions.

So, once we’ve got those bank settlement done, we can start shipping that material and executing the development strategy to get this back into production as soon as possible.

Q4: So, what is the strategy for development of the Amapá projects and where does the company see value?

A4: Well, the strategy for development is very much the same as we’ve always outlined so once we get our 20%, which will be on the banks settlement, we can start shipping that material. When you start shipping that material, DEV Mineração will be profitable, technically, because it’ll be revenue generating, and of course that net revenue from that will go to be either to partly pay the banks and/or to reinvest in the assets. So, that money is going to be utilised for 12 months, 18 months, to prepare the banks and reinvest in the asset.

During that period of time, then the strategy is to start the recommissioning studies which needs to be done to a bankable level and there’ll be about six months of that work then project financing to finance the redevelopment, which at the last time on the basis that DEV was talking about is about $170 million in total CapEx. That $170 million is invested over the remaining period, that’s call it 18 months, and then at the end of two years, we will start mining new material, having shipped all the materials stockpiles.

An interesting fact, soon after we get 20%, we would have invested in an asset that is profitable and revenue generating from that point in time, we don’t have to wait two years for revenue and profitable generating, it’s immediate or near enough immediate.

So, the strategy is to effectively take this from zero to new production in two years or in the interim basis, it’s shipping the material in generating revenue from the stockpile.

Page 2
and its port. So, once you’ve got round this legal issue of restructuring or digital restructuring, the bones the assets were there and we substantially de-risked.

So we have entered in the joint venture which we will vest in subject to particular target was being hit, our first investment will be, we’ve already got $2.5 dollars in escrow, once the bank settlement occurs, which is part of the JRP process, we’ve agreed those in principle, now we’re waiting on the finalisation of the documents, we will earn our 20%. Then we have another $3.5 million to put in to get to 27% and that’s only when all the operating licenses have got granted then we have a first right of refusal to go up to 49%.

So, for us, this project in real summation is a project that’s had historically some great value, the market and people have discounted it because of the legal issues around it, which we’ve gone through, yes, it’s taken longer than expected but nonetheless, we’re at the final hurdle. Fundamentally, you take that away, it’s a considerably de-risked asset with a pretty large potential upside for the company and its investment.

Q3: You’ve mentioned in the past that you’re able to ship iron ore from existing stockpiles, whilst the mine is being recommissioned, how is that progressing?

A3: I think the idea was, originally, we were going to, when we talked about this in December last year, effectively, once we got the bank settlement done, we were going to start shipping material. That was really important because you could ship material, there’s a lot of material there about 1.3 million tonnes, take about 12 months to 18 months to ship it all, possibly sooner, but let’s talk the 12 to 18 months to ship it all. That would have generated $30 to $40 million of net revenue, which could be invested either to repay the bank creditors or of course, and reinvest into the asset, its capital so it had inbuilt equity.

Cadence Minerals plc (LON:KDNC) Chief Executive Officer Kiran Morzaria caught up with ************* for an exclusive interview to discuss the company overview, the Amapá project, shipping iron ore from existing stockpiles, company strategy and directors investment.

Q1: Kiran, you could give us a brief summary of Cadence Minerals for new potential investors?

A1: So, we are a mining investment company listed on AIM, we have an investments across multiple commodities and minerals, we have roughly around five key investments and they’re equally divided into two iron ore assets.

So, one, we have an equity stake in McArthur Minerals which is an iron ore asset in Australia and we’ll be getting a stake in Amapá iron ore deposit which we can talk about later on.

The other side of that is we have investments in electric vehicle critical metals in the supply chain so we have two investments in two of the largest hard rock lithium or lithium deposits in the world, one in the European Metals Holdings and also a JV stake in Bacanora.

We also have a JV stake in Yangibana rare earth minerals or the asset associated with that, which is a Neodymium development opportunity, which is very critical for permanent magnets in electric motors.

All of these assets are just pre-feasibility, the majority of them are in the feasibility and two of them are at construction and commissioning stage. So, two commodities or two sematic investments, one is around the EV vehicle development and penetration of EV vehicle and the other around iron ore which, over the last six to seven months, has been one of the best performing commodities out there because of the massive stimulus, the billions of dollars of stimulus that is occurring in China for infrastructure after COVID.

Q2: Just looking at your recent RNS’s, there’s obviously positive news from all of your investments, but a lot has been in relation to the Amapá project. Can you tell us some more about that?

A2: Yes, absolutely, and that’s because we’ve been involved with the Amapá project now for over two years but as far as the public is aware, we announced our initial potential investment in May.

Really, the Amapá project is an ex-Anglo American and Cliffs Natural Resources asset which was developed and was producing around 6 million tonnes by 2013 and they valued it around $600 million. We saw the value because, as a result of a port collapse that occurred in 2014/2015, it was unable to continue to ship material and as a result of that, it really ran out of cash, it wasn’t able to find financing and iron ore price was low. Ultimately it had the bones of something pretty amazing, which was, in essence, it has a resource which had recently updated and that’s increased by about 21% as a result of that, it’s got the resource, it’s got the mining infrastructure, it’s got a beneficial plant which upgrades the material to 65% iron ore, then it’s got a transportation infrastructure, railway concession and i

https://www.***************************/cadence-minerals-qa-amapa-a-large-potential-upside-for-the-company-lonkdnc/412938185

Wonder if they have to release a rns saying why the sp rose so much ?

https://bacanoralithium.com/cms/wp-content/uploads/2020/11/BCN-Presentation-Q4-2020.pdf

BCN-Presentation-Q4-2020.pdf