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With hundreds of millions at stake I'm sure they'll be putting pressure on Mex Gov to reach a deal on Sonora. Stalemate benefits nobody there.
Notice Sonora is on the map here:
https://www.independent.co.uk/tech/mcdermitt-caldera-lithium-deposit-electric-car-b2409616.html
16:00 "so the idea is, if all goes well, between 12 to 16 months from now we could be in a situation where licenses are granted, DFS is completed and we go ahead with financing for construction"
Stock Box interview
https://www.youtube.com/watch?v=n1g5B1JUrcQ
Each step is about adding value, de-risking reduces that discount that you speak of hence increasing the value of the asset. @dallas is correct, Kiran discusses it here 25 minutes in https://www.youtube.com/watch?v=G_hsjMjB0XQ
Having the licenses in place makes the project more valuable and once licensed someone else could buy in (at a higher price since de-risked) to fund it further to DFS and construction or it could be IPOd at that point on the ASX.
Exit strategy also discussed.
TLDW;
"traditionally what most people would do is they go from PFS go out to Market, raise the capital for DFS and certainly you know if our market cap was much more reflective of our asset value, that would be something we would have considered, but given where the market capitalization is the dilution to our shareholders by raising money for a DFS would have been quite punitive you know. I'm a substantial shareholder with about one percent of the company so like other shareholders I don't want that dilution and look to mitigate that as much as possible.
So then we have three ways to look at develop this, our primary primary choice is to get a strategic partner / joint venture partner at the asset level in Brazil who would provide the equity in Brazil and take an equity stake in the asset in Brazil and and therefore provide enough for the DFS. That Equity partner could be of course a strategic investor from abroad which might you know have some engineer EPCM (Engineering, Procurement and Construction Management) funding associated with or have the first right of refusal of the EPCM funding so that is the engineer could construct and manage of the entire project. so we have a data room that is open and we have several parties looking at that data. it does take time because they're going through the full PFS document and it's a financial model you know the actual PFS document is probably about about 600 pages long, but the backup engineering work is you know reams and reams of data, gigabytes of information that needs to be gone through so that is one option.
The other option is if there was a buyer out there that offered us a sensible amount associated with this asset we would definitely consider it and could look to vend out in its entirety. The proceeds of which could be reinvested or returned to shareholders.
And the third one is would be effectively taking this asset and splitting it out into a market that would appreciate this asset for its value. That to us would certainly be the Australian stock exchange and something that we are actively looking at."
Http://irservices.netbuilder.com/ir/cadence/newsArticle.php?ST=REM&id=311428232448661110
Good news that PCA and RCA will be accepted. De-risks this further for investors.
PFS Executive Summary: https://www.cadenceminerals.com/wp-content/uploads/2023/09/Executive-Summary-PFS-AMAPA-KDNCs.pdf
China imported 106.42m metric tons of iron ore in August, the highest since October 2020, customs data showed on Thursday
Chinese rare earth prices jumped to their highest in 20 months, as mining suspension in major producer Myanmar sparked stockpiling ahead of the peak consumption season, analysts said on Thursday
ASX Lithium Rocks: Interview with EMH starts @1h:17
https://youtu.be/tnlwGdZV_X4?t=4603
Https://www.edisongroup.com/research/cadence-minerals-sonora-project-update/32644
Edison:
"Importantly, the company’s focus remains solely on the Amapá iron ore project, whose value contributes 21.1p/share to our base case valuation of Cadence (43.5p bull case). We believe the market appears to be placing little value on Amapá and see the de-risking of the project through progressing to full bankable feasibility study status and securing a JV partner as the main catalysts for Cadence in the near term."
DEV Mining 2d:
Working group meeting: DEV Mineração , PGE and GOVERNMENT SECRETARIES Last week, our meeting with the iron ore working group in Amapá took place. The main objective of this meeting was to thank all participants of the state controller general, attorney general, state transport department, state environment department and economic development agency of Amapá, for the evolution of the activities carried out during the planning that was established. Even so, we can count on the presence of our investors from Cadence and Indo Sino at this meeting, which was productive and celebrated the joint success. We have good working partners so that we can achieve the desired result together.
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DEV Mining 1w:
ANTAQ Technical Visit On August 10th, we received a visit from technicians from ANTAQ - Agência Nacional de Transportes Aguaviários , which takes place once a year, so that they can attest that there are still no shipments in our port. We carry out our work with a commitment to environmental safety and that of our employees, taking the necessary measures to put all stages in perfect working order.
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DEV Mining 1w
Master Plan of Santana. We were invited to participate in the Master Plan of Santana, contributing with suggestions for improving the planning of Urban Mobility in Santana – AP. Currently, this plan is very important for our transport operation, because with the inoperability of the rail network, we have to use the road modal, with trucks with 3 to 4 axles. As a result, part of our route is impacted by the various events that take place on the main road in Santana. We are pleased to be able to contribute to the plan to improve mobility in the city where our operation is located.
"Enterprise Value" includes all of the debt etc so although $150m changed hands the buyer took on all of the liabilities which would have amounted to a further $1050m.
https://www.mining-technology.com/news/vale-manganese-iron-jf/?cf-view
For ref:
https://www.reuters.com/business/brazils-jf-acquire-vales-center-west-mines-215-mln-report-2022-04-06/
SAO PAULO, April 6 2022 (Reuters) - Brazil's Vale SA (VALE3.SA) has agreed to sell its manganese and iron ore mines in central Brazil, with an enterprise value of about $1.2 billion, to holding company J&F Investimentos, it said in a securities filing on Wednesday.
The Center-West system, which comprises Mineracao Corumbaense, Mineracao Mato Grosso, International Iron Company and Transbarge Navegacion ventures, produced 2.7 million tonnes of iron ore and 200,000 tonnes of manganese ore in 2021.