Member Info for Cause17

I am very recent to this and I am just trying to learn and form my own opinions through reading the posts here and any news provided.

@jimb2- I am only trying to ask the questions I have from what I read and correct my understanding if needed through asking questions.

I do have some reservations on the management of Cadence as I see that the shareholding they have is insignificant in cadence and that some tend to hold position on the board of other companies (For example, I belive the KM holds a position in UKOG - Which just had some strange days)

@Maddog- Please don't take me wrongly to be saying you are wrong. I am just trying to understand the angle you are coming from so I can have a better picture of things.

Also I would like to thank the regular posters here and especially Obs as most of what I have read are from the links and data provided by you guys.

@Maddog- I don't know much about the other assets. What little I know is we own around 3% of Mcarthur minerals. The Yangibana venture all except for one part of the mine aren't to be mined for another 5 years. ETH, I belive the investment is worth around 3 million.

Most of what I have read is on Amapa. Currently we own nothing. We could be on 20% by beginning of July, fingers crossed. We will not be earning anything (or very little) from the shipping of the Iron ore that is due to commence soon as things stand as most of the proceeds will go towards paying creditors and rehabilitation work. I don't have enough knowledge to crunch the numbers but I am hoping to get around to it.

But my question is, in 2016 when the iron ore prices were 20% down compared to current rates (at it's peak - Nov 2016. Prior to that it was 40% down but I took the highest number), Jinta Group were willing to pay 70 million to rehabilitate the mine. Cadence is paying 6 million for 27% and has first refusal on further 22% for further 24 million. That means for 30 million 49% if it happens. So at 100% this is considerably less than 70 million Jinda Group were offering for the same mine when Iron prices were lower (obviously the prices could drop again etc).

Also the same group is trying to get back into this which must mean that they still value it be a profitable venture.

I also see the debt side of it, which is considerable. I will try to go through it as much as I can.

But could you point me to why you feel that this isn't really what it is being made out to be.

@maddog38 - Would you be able to share your predictions and the reasons behind it? I am genuinely interested in your views on this.

Will do obs. I will also try to be the same and provide links to the sources of my questions

Yes. True. We can only work on information that we have right now because the future isn't entirely in our hands.

But my curiosity is more to do with me linking the sales going directly into judiciary and the shipping creditor and wondering if this indicated that the Danish company will be the shipping contractor.

And yes. My opinion on the amapa is the same as you described. I do think this is different to the other JVs and investments which is what excites me.

I do find the information you provide really insightful. Thanks for that. Also @tomcat.

If you are asking me this question, tbh I am just following yours and tomcats calculations as I am a total novice at this. And I very much appreciate all the data that you guys provide.

@obs - I just re-read it and I am a bit confused again.

================================================
As the sale of the iron ore stock up to the limit of US $ 10 million is authorized, we suggest the following procedure for withdrawing the amount obtained from the sale that must be deposited in a judicial account linked to the Judicial Recovery: Recovering presents the list of creditors and with bank details that will be paid with the amount deposited in the records for the purpose of withdrawal request; Recovered presents an analytical list of costs and expenses to be paid with the value of the sale of iron ore; 
==============================================

This seems to suggest that amount obtained from the sales must be submitted to the courts along with the creditors (cost of sales) and their bank accounts and court will pay them. I belive they mentioned that, this is to make it transparent for all parties (I am finding it difficult to find that line to paste here)

If you remember, I asked a question of a shipping company credit being added. Could that be related to this? I am not sure if shipping contracts have been agreed and if that would be a justifiable amount of shipping costs (I have no idea on the shipping costs). I know you said it could be a previous debt owed to them. Your thoughts would be appreciated.

Thanks Ob. I thought the same too but I thought I would take your opinion on this as well.

@obs - I have a question with regards to the proceeds from the potential shipment of iron ore. Does the net have to go to judiciary account or the gross and the judiciary will settle the costs of shipment?

@maddog38 - What is your forecast for the shares?

Thanks Obs. I will read more on it and come back with my any comments

I also saw an update dated 18th or 19th related around 6 million owed to a Danish shipping firm to be added to the list of creditors (this was my interpretation. I will paste that part once I get on my pc as I was looking at it there). Would either of you be kind enough to clarify it if you had already come across it?

I was confused on the same.

@bannor - Thank you

Please decode for me...????

What is your forecast for KDNC?
I was following this thread and you correctly predicted the drop that happened yesterday, last week.

Also did you happen to check the link provided by obs?

I have been following your posts and few others' for a bit now. I find them very useful and often reassuring.

Also I am on the direct link now. I was on the previous link you provided but never was close to getting to this link.