Member Info for Cause17

I think Amapa news will be more organic increase

@Maddog - I think it is unclear. The image from last time indicates drilling in North Bald Hill area. But this wasn't confirmed when Mrs.B asked the question. But all the other areas..my interpretation is you are right.

Maybe re-posting your numbers would be a good..

Thank you for sharing Bannor. Looks to be more good news.

But here too, they are not confirming the drilling in the north bald hill area as per the images shared last time around.

I also see that the last two times the administrator was summoned, a court ruling was published within a week. So good sign?

Last 2 dates

4/2/2020 Request for Summons of Judicial Administrator
12/30/2019 Request for Summons of Judicial Administrator

https://esaj.tjsp.jus.br/cpopg/show.do?conversationId=&dadosConsulta.localPesquisa.cdLocal=100&cbPesquisa=NUMPROC&dadosConsulta.tipoNuProcesso=UNIFICADO&numeroDigitoAnoUnificado=1088747-75.2015&foroNumeroUnificado=0100&dadosConsulta.valorConsultaNuUnificado=10887477520158260100&dadosConsulta.valorConsulta=&uuidCaptcha=sajcaptcha_1e8719cb8f214cc09c58e78670b6490a&g-recaptcha-response=03AGdBq27SOWkoR74gKkOl5l5pdiRh6nOxk4fb4wpib3ug69TVlQuPL-gy6uwlIjsNt5WYdrB59_k6F41PAPQDGF8TBkXglrQngV9VfRH06fz3yIzbkOjeY0C3TOEAWetSL16Y_eMzytZ3meTx8df3eH7TxhmeIyB5DxW_FXSjBP7luz-z9aqg3OMe6S-RbulUthDEe6oZJM_5akUIGQInmaMmAgz8ILsM0t-L4qUonMhxqlfm_xaVyk8a7kmR8-KttFuFra0zrR6hOklAl-pe9GF9WcKdp4qKD-CU1V-0TIcCV_hT7Z1h1x8VpfI6OwibglzKqO5mBIFdVsrImxRkC1g2GlOzNG1QEP2_uGO8sIZI6dCLSAWXydSn1Y89sF9LZ5x5Su86usd6BwIieU1t3mndPaX-dSISrVv_JGiRPf6UZ00Ckd8uUyGeTO6f9kl8SbHhMF1gpRtPqSE42SsLc3GkFwA6Zs3-AA&processo.codigo=2S000I22C0000

Below is a translation I found. I am note sure if it is relevant or not.

=======================================
Link - https://dje.tjsp.jus.br/cdje/consultaSimples.do?cdVolume=14&nuDiario=3073&cdCaderno=15&nuSeqpagina=2617

Case 0010027-84.2020.8.26.0602 (main case 1026543-70.2017.8.26.0602) - Compliance with judgment -
Provision of Services - Graziela Rocha Mattar Mei - Zamim Amapa Mineração S / A - Visas. Under the terms of art. 513, § 2, item
IV of the CPC, the debtor will be summoned to comply with the sentence, by notice, when it has been revealed in the knowledge phase. In that
sense: Rapporteur: Renato Sartorelli County: São Paulo Judging body: 26th Private Law Chamber Judgment date:
10/06/2016 Registration date: 10/06/2016 “FULFILLMENT OF SENTENCE - DEFENDANT, CITED BY PUBLIC NOTICE, REPRESENTED
BY PUBLIC DEFENDER - NEED TO SUBMIT, BY PUBLIC NOTICE, FROM THE DEBTOR FOR THE FLUENCE OF THE TERM
ESTABLISHED IN ART. 523 OF THE CPC - INTELLIGENCE OF ART. 513, § 2, INCISES II AND IV, OF THE SAME CODEX - APPEAL
PROVIDED. Before the entry into force of Law No. 13,105 of March 16, 2015 (CPC), despite the legal provision, there was no
need for a personal summons from the debtor in order to comply with the sentence, the legal act of the defender being valid
public, provided it is done in person. The new diploma brought an express rule regarding the situation, providing in its art. 513,
§ 2, item IV that the subpoena must be issued by notice. ”. So, present the author, in 05 days, draft of the notice with the respective
shipping fee, noting that the special curator appointed in the knowledge phase will continue to represent the
executed in compliance with the sentence, under the terms of Clause Seven, item XXIII of the Defensoria / OAB Agreement. - ADV:
ANTONIO CARLOS GONÇALVES MARINHO NETO (OAB 389494 / SP), CAIO CESAR LATUF SOAVE (OAB 310659 / SP)

Thanks CHRH. There was no update there are far as I can see.

I remember Obs providing a link to the courts diary. Let me see if I can find it somewhere to see if there is any more details to it.

Something happening

https://esaj.tjsp.jus.br/cpopg/show.do?conversationId=&dadosConsulta.localPesquisa.cdLocal=100&cbPesquisa=NUMPROC&dadosConsulta.tipoNuProcesso=UNIFICADO&numeroDigitoAnoUnificado=1088747-75.2015&foroNumeroUnificado=0100&dadosConsulta.valorConsultaNuUnificado=10887477520158260100&dadosConsulta.valorConsulta=&uuidCaptcha=sajcaptcha_3f92883f491541e697d9c1e44c443e40&g-recaptcha-response=03AGdBq25zVuF0bFOITxaWmL2QVF6hGLbuFBW-0O-Asvmup_CL95_wTlVTbsmNPVn5yLZYVc-_iKqUwxLJIk-WidpojFXcy5eYdQAzQQ-tYlq2Z_gEGoAFNAoLj_5k63bZfWKiusynRBykbNm39ATULgwtRTsIoJBt_7TB5DpVlD5tG4O8-aqX8Q6tdu-sq6OyYxcftMITNjA05M5iDJ2CDmaDBbUd2CYu5XmMtkP3Ueg-SCa5thQvyoQ9qNYTD9Mo9Qu-_gIy_VaIMo-Y4vbQEn2Mx6Fofgl7PbMvRcGdh9B-9oz793Xjkbf6iO7lKejOyVdtxHf03zT8SnGf7yZq2Z6pY7oPQQAuwUox3-bRgsJ3X3vQJNlXcavlcWybpPH9g_0F8JK-rQXJgUlNnAqAbyaTlmbOHO0dUQ&processo.codigo=2S000I22C0000
========================================

Showing last 5. >> List all movements.
Date Movement
06/30/2020 Request for Summons of the
Joint Liquidator Protocol No.: WJMJ.20.40917727-0 Type of Petition: Request for Summons of Judicial Administrator Date: 6/30/2020 11:56 AM
06/29/2020 Electronic Message (e-mail) Attached
06/29/2020 Request for Attachment on the Face of the Record
06/29/2020 Electronic Message (e-mail) Attached

Thanks Jimb2
I went and googled it and got no result so thought of asking you.

@jimb2 - True about being distracted but I am kind of excited cause of the wait for it. Also what does couts and co mean, if you don't mind me asking.

@neebaj - I see. That could be a case. Is there a closing time to when questions should be posted?

@Maddog - Wouldn't market close today be too early as we are behind in terms of time to Brazil? The last update on the court link yesterday was posted after 6 I think because I remember checking and seeing nothing pre 6 pm gmt+1. Maybe RNS in the morning?

Thanks Degsie. I missed that post while catching up. :)

Also another general question.

From what Frankie said earlier, I understand that there is a Q&A session on voxmarket with KDNC (Correct me if I am wrong).
Would the timing be interesting? With positive news (fingers crossed and I really really want it to be positive), could this be an effort to drum up investment for the next phases (My thinking is that it would be very nice timing to push it out there if the news is positive. Also can I read into the timing as the management sentiment is also positive on the outcome as if it is a negative result, I would think that whoever faces the question may have some tough time?)? I also notice that KDNC comes up as one of the most read RNSs whenever it comes out.

Would really value all opinions.

@Maddog38 - Could there be an argument for institutions waiting on the outcome of court decisions and following that, the acquisition of 20-27%? I see this as a huge risk factor here but once it is overcome, how would you feel about institutional sentiment?

Also what is the take on the below?
=====================================================================================================

https://www.londonstockexchange.com/news-article/KDNC/binding-investment-amapa/14102294

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.

=====================================================================================================

Does this mean if KDNC doesn't put up the 27.5 million $ then they will still get 1.5% of investment back or hold their 20% in case where Indo Sino doesn't exercise their option?

Also, one of the recent developments that was intriguing for me was Jundal Group trying to get back into the mix of things by applying for a petition trying to derail the JRP. Surely they see value in this for them to do that?
Especially their argument (which was rejected) stating there was no bidding process, which is what gave me the opinion that they want back in.

Below are my numbers

EBITA
114,500,000
114,500,000
200,467,000
507,762,000
830,147,000
833,100,000
816,250,000
799,667,000
787,769,000
764,023,000
740,509,000
727,270,000
707,205,000
650,480,000
604,680,000
90,711,000

EBITA for 100$
114,500,000
114,500,000
200,467,000
507,762,000
1,574,267,000
1,577,220,000
1,560,370,000
1,543,787,000
1,531,889,000
1,508,143,000
1,484,629,000
1,471,390,000
1,451,325,000
1,394,600,000
1,348,800,000
90,711,000

NPV for 61$ 975,929,544
NPV for 100$ 1,950,394,990

Regarding exchange rate - I see your point. As those calculations have been done on a different exchange rate, I too think I am better off using that exchange rate then converting to current rate at the end

I would agree on using a discount rate of what is the expected rate if return in that particular industry. But just asking the question to see what others think :)

I used similar numbers Obs (probably a bit less - I used 1272 as that is how I read it...) about I used an exchange rate of 5.4 (the xe number as of 2 days ago)

I will try to paste my working here tonight so I can get your opinion on how accurate I have been and how much I need to improve. Currently on a train :)

A new update just came to the court pages. Not sure how major it is. Seems to be an email attachment.

Date Movement
06/29/2020 Electronic Message (e-mail) Attached
06/29/2020 Request for Attachment on the Face of the Record
06/29/2020 Electronic Message (e-mail) Attached

https://esaj.tjsp.jus.br/cpopg/show.do?conversationId=&dadosConsulta.localPesquisa.cdLocal=100&cbPesquisa=NUMPROC&dadosConsulta.tipoNuProcesso=UNIFICADO&numeroDigitoAnoUnificado=1088747-75.2015&foroNumeroUnificado=0100&dadosConsulta.valorConsultaNuUnificado=10887477520158260100&dadosConsulta.valorConsulta=&uuidCaptcha=sajcaptcha_517a06d08602494a90a73d2b4bcbb8a2&g-recaptcha-response=03AGdBq24Eb65v3BGjY7HZ9d1q1yjiad6AaUvYEIVrCXBiMjpFRcaVU-LaIG4BFXarZ0UQeZrkjgJRAzeaNanBWj-OXkTS5EsoaL4zime-EJkFoNfjaGqdneSYzO8nAbRB_zQCR0l71r50AHPBG4kCEiy3phyZto6NtmUb4AzClDOQbIysLgv_T4gXXz-MYMxY7REUBhaVLuqFba8KAOIMmPyuhiANsWaFbbzoMLAwFO3ZUXCFaiLGQPprHLrOxHlO7HGH8OM6HqHs5NoZHJ9dzqvLLZA7bNzzOb02oXnGJyY2zZS_-9MiEPOGBuhAms_OpQRGNgQdPnD8l9qKUaS1R4H3TadSWQ9-pXo6KyHtL6_DO3T8_8U0IpdZzTY2vNyDZhVSYqCS4a5w1OFQ5pA05ZXHcLGIDrHebA&processo.codigo=2S000I22C0000

With regards to the discount rate, isn't discount rate the % of return you would expect if you were to invest this money in a different commodity (I.e - Stock market)