RE: I think we need to talk about this deal signing...25 Aug 2021 14:59
respectfully @DizzyG it sounds like you are on a totally different wavelength.
We are talking about the bank deal which is the final pre-condition to take a 20% stake in the project. This we have been told is "fait accompli" and 90% there etc so it really is imminent.
We are also talking about shipment of stockpiles - which has already started of course.
None of us think redevelopment is going to be completed imminently as per the timelines in the presentation it will be around two years. The PFS is nothing to do with the consortium of banks (LBO Creditors) with which we are doing the deal with.
The PFS is required to get the bank funding for DIP C which is a totally different bank deal <- nobody is talking about this yet, perhaps this is where the confusion has set in.
"In early September 2020, we announced that DEV Mineração S.A's ('DEV') and Cadence and Indo Sino Pty Ltd ('the investors') agreed in principle to the settlement terms proposed by the bank creditors. The principal commercial terms agreed in 2020 have not varied materially, and at the time of writing, the final settlement is currently with the bank creditors for comment and/or approval.
The execution of a settlement agreement with the bank creditors would satisfy Cadence's remaining major precondition, which is to make its initial 20% investment in the Amapa Project. On completion of the conditions and the release of the Cadence escrow monies, Cadence will become a 20% shareholder in the Amapá Project via our joint venture company, which will own 99.9% of DEV."
Including Ken we have scheduled. 8 on Pier 1 to Nov 3 on P2 to Sep
a further 6 possible Oct-Nov P2 given we can easily manage 3/month on pier 2 That would be 14 x 45,000T = 0.63MT by end of November An average of 5 ships per month (225kT) A possible 2.7MT/year from the public port - note this includes Geralds portion
I'm not sure insider trading laws would permit that. The announcement in itself would be enough to list the SP though you'd think. There can't be that many weak hands wanting to sell at 23p?
As a safeguard against improper use of insider information by companies when repurchasing their shares, the timing of repurchases must conform to the restrictions governing purchases by directors laid down in the Stock Exchange's Model Code. Regard must also be paid to the provisions of the Company Securities (Insider Dealing) Act, 1985.
Given you represent a part of "the market" i'm not surprised "the market" doesn't know anything. haha How many of "the market" have the shipping schedules for example? How many bother to read all of the court filings. You make me laugh.
"Bacanora, through MSB, acquired the La Ventana, El Sauz and San Gabriel concessions from their owner by paying an aggregate of 500,000 shares in Bacanora and $US40,000 to the owner for a 100% interest in those properties. Bacanora, again through MSB, has a 100% interest in Fleur."
Many will know a lot more than me on this but El Sauz was originally part of MSB but was spun out to Mexilit so perhaps it was changed at the time.
It read to me like it's only the "MSB" concessions i.e not Mexilit or Megalit.
"Bacanora is challenging the validity of the previously reported 3% royalty over the MSB concessions within the Sonora Lithium Project, payable to the Orr-Ewing Estate, and is seeking a judgment of the Court in Alberta declaring such royalty invalid. The basis of Bacanora Minerals Ltd claim is that the royalty was originally granted based on a negligent or fraudulent misrepresentation by Mr. Orr-Ewing that he held a pre-existing royalty granted prior to the acquisition of the MSB concessions by Bacanora Minerals Ltd."