Member Info for EV_Bull

Yes 1.39mt * $80 = $110m (minus handling)

It's called Free on Board (FOB) to describe the point at which a seller is no longer responsible for shipping costs.
https://www.linkedin.com/pulse/iron-ore-you-care-fob-cif-benjamin-cox

Yes, $80 is almost all profit though because this type of agreement is from the "gate" / dock side i.e the buyer pays for shipping costs.

"The Pedra Branca do Amapari mine, in Amapá, is back in operation, says the newspaper Valor. The project, which belonged to Zamin, expects to complete the shipment of 180,000 tonnes of iron ore to China this month. Exports of the commodity generated revenues of US$ 10 million."
https://twitter.com/PauloSilva1955/status/1423040604653686785

that was the clue
K :

I had to double take when I saw the name of our next one after Brave on P1 Obs Lol
K:

Cheers Mullins!
Looking forward to deal day, should be quite something.

Original article is paywalled
Iron mine in AP returns to export operations
"The former Zamin project is expected to complete the shipment of 180,000 tonnes this month"
https://valor.globo.com/empresas/noticia/2021/08/04/mina-de-ferro-no-ap-volta-a-operar-com-exportacao.ghtml

"Located in Pedra Branca do Amapari, in Amapá, DEV Mineração's iron ore project intends to complete the shipment of a batch of the product to China by the end of the month, according to Valor newspaper. DEV took over the Zamin venture.

The export operation is part of the payment of debts with the banks of the former owner of the enterprise. Other shipments must be made to remedy existing liabilities. With the debts paid off, investments must be made in the plant to increase the exploration and processing of iron ore.

The iron ore reserve in the project is 251 million tons. The annual production capacity is 5.3 million tons, but with investments, it can reach a nominal capacity of 11 million tons per year."

https://revistaminerios.com.br/planta-no-amapa-exporta-minerio-de-ferro/

lol, this is the full story:

Fls. 20,578/20,580: The Creditors Committee alleges that until 07.23.2021 the Bank of the Brasil SA did not make transfers to creditors in compliance with a court order. It alleges that "the Judicial Administrator in a hasty and wrong way" informed that the payments have started. Requires the fulfillment of transfers by the Bank ofBrasil SA, the arrest of the manager of the branch of Banco do Brasil SA, the imposition of a fine on the Banco do Brasil SA and this Judicial Administrator present, within 24 hours, the proof of payment from creditors.
------
The Creditors Committee presents an amendment to the requests for pgs. 20,578/20,580 to render null and void the arrest warrant of the Bank's manager Brasil SA and the application of a fine for non-compliance with transfers. requires whether requests for transfers and presentation of receipts to occur in 24 hours.

The Creditors Committee presents an amendment to the requests for pgs. 20,578/20,580 to render null and void the arrest warrant of the Bank's manager Brasil SA and the application of a fine for non-compliance with transfers. requires whether requests for transfers and presentation of receipts to occur in 24 hours.

Also £17.3m is 11p/share now so they valued Yangibana at £18m at the time (11 May 2017).

Yes but I purposefully left that section out, this part refers to "direct interests"

I found this old research note today fyi:
"an additional £17.3m (22p/sh) may be added in respect of Cadence’s direct interests in Sonora, based on a valuation pro rata to Bacanora’s resource multiple derived from its interests in the same project (if not exactly the same concessions). We view Hastings Technology Metals’ 8 April 2016 PFS announcement as very early stage. However, for illustrative purposes, a further 23p could be added to our valuation of Cadence for this asset"

The great thing is we have a resource with a high grade premium product, integrated railway and port. Not many projects have those advantages.

WP BRAVE 13/08/2021

Gerald shipping and our extra $10m of shipments are very positive signs showing the JRP is being followed and this is going to happen. Not to mention work has already started on bringing it back to life. I suspect some will be missing the boat!

Exactly, If we can be almost certain of a 100%+ gain on taking 20%, within a few months it is still a bargain and you are then being paid very handsomely to wait. I am optimistic and I expect it to complete this month.

I mean these are state owned banks it's not like their employee's gain anything personally by dragging it out so I don't believe it to be purposefully as I don't see what they have to gain. I do believe that they can be incredibly slow and bureaucratic requiring approvals and such so I can understand the delays if it takes four weeks for a round trip through the sausage machine, that is an entirely different proposition that means it's only a matter of time to me.

You must know more than the BOD then Maddog and Bannor because they reckon it's 90% of the way there now and a fait accompli.

"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. "