Member Info for EV_Bull

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Page 19. 588/19,609 (The Debtor requires the dispatch of an official letter to "Banco BS2S/A, Branch 001 Head Office, Current Account No. 8280924 (bank institution where the Debtor has an active checking account) in order to proceed with the orders of attached payment (OPR1161721 and OPR1172821), with proper currency conversion national current and immediate transfer to the judicial account linked to the presentJudicial Reorganization process", on the grounds that it is pending receiptthe amounts of US$ 2,821,144.81 and US$ 127,664.30, arising from the sale of iron ore, thewhich due to judicial blocks cannot be converted to reais and deposited inyour bank account); Page 19.62/1930 (The Judicial Administrator informs that in "item 10"of the decision on pages 16,954/16,965 was approved the procedure for the sale of ore from iron, which provided that the amount arising from the sale should be deposited in an account court for subsequent release to the Debtor. Consider that the values ??of US$2,821,144.81 and US$ 127,664.30, arising from the sale of iron ore, are essential for resumption of the Debtor's activities, as well as for the fulfillment of the Plan of Judicial recovery. It is in favor of the Debtor's request, requesting that a decision is issued with force of office to be forwarded by the Debtor itself to the Banco BS2 S/A, together with the judicial deposit slip):

In view of the procedure approved in "item 10" of the decision on pages 16,954/16,965 for the sale of ore of iron, as well as the essentiality of the values ??for the activities of the Debtor and compliance with the PRJ, I GRANT the request of the Debtor to determine to Banco BS2 S/A,Agency 001, Headquarters, which proceeds with payment orders OPR1161721 and OPR1172821 (pages 19,596/19,597), with due conversion into national currency and immediate transfer to the judicial account linked to this Reorganization process Judicial, without the need to deposit in Current Account No. 8280924. provide the completion of the judicial deposit slip to comply with this decision that possesses the strength of the trade. The forwarding of this decision with force of office, as well as the judicial deposit guide must be complied with by the Debtor, proving it in the records.
The other petitions and documents presented will be analyzed in due course.
Int.
São Paulo, June 15, 2021.
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Another Decision tonight, things are moving now.

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Page 19,372/19,536 (The Debtor presents a petition and documents reporting which was blocked the amount of BRL 493,560.08 from its bank account having as the origin of theblocking order Tax Foreclosure No. 0000610-72.2020.5.08.0210, distributed in the Court of 8th Region work. The Debtor adds that the Federal Government did not request the blocking of values.Claims the release of the amount of BRL 493,560.08); Page 19,624/19,626 (The Administrator Court considers that the amendment to Law 11.101/05 introduced §7-B to article 6, whichprovides that the suspension of actions, executions and acts of constriction do not apply to executionstax, and there is provision that the Judicial Reorganization Court may determine the replacement of acts of constriction that fall on capital goods essential to the maintenance of business activity until the end of the judicial reorganization, whichwill be implemented through jurisdictional cooperation. In view of this, it requires the subpoena of the Reorganization to indicate goods that can be offered in replacement of the amountblocked. With regard to any measure of constriction granted "extra petita", considers that this matter should be dealt with in Tax Foreclosure No. 0000610-72.2020.5.08.0210.) :

Indicate to the Debtor the assets subject to pledge, which can replace the blocked amount.
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https://twitter.com/DavidLenigas/status/1404868374585397257?s=20
@DavidLenigas
"I’ve decided that the bosses of Bacanora need to be accountable. Action group - please contact me. @BacanoraL
#BCN. Suspect retail may be legged over here. Accountability is the key to corporate life. They get paid massive amounts for what?"

BF4U Obs

Page 19,346/19,354 (The Judicial Administrator presented an adjustment to the 1st Bordero payment of creditors, aiming to include creditors represented by Dr. Waldenes Barbosa and credit assignments recognized by the decision of pages 19,044/19,056. The Judicial Administrator considers that the adjustment of the 1st Borderô provided 39% increase in the volume of creditors to be paid.It also informed that, in relation to the total of labor and low-sufficient creditors, it will be possible to pay 35% of the amounts, whereas before the adjustment this percentage was 25%. the adjustment of the 1st Borderô and that the decision has the power of office to be sent to Banco do Brasil). In view of the relevance of the payments of low-sufficient and labor creditors, I ratify the adjustment of the 1st Bordero and I order Banco do Brasil S.A. to carry out the transfers to creditors according to the data contained in the Bordero on pages 19,350/19,354, with the authorization for any discounts related to transfer fees to other banks. This decision serves as an official letter to Banco do Brasil S.A., which must be sent by the Judicial Administrator together with the statement on pages 19,350/19,354. The other petitions and documents presented will be analyzed in due course.

It's not really anything major just dumbed down really as "awaiting credit committee approval" became "covid delays". I wouldn't read too much in to it.

My **Guess** on #4:
Regarding the presentation and Marlin I think they were trying to hold off on announcing anything until the deal was properly signed off and ratified. It could be that they had some kind of agreement allowing shipping to continue (perhaps via email) but until legally approved by the courts they didn't want to announce anything. I don't think they would want to jeopardize the deal by making something public that they don't want to be yet, hence the slight covering of tracks and mixed messages.

I think the branduk website appears to have an earlier version on the same RNS, perhaps the wrong version was uploaded as it contains mistakes e.g. 2021 instead of 2019.
Some of the othere changes are quite revealing.

Amazing legalease, I can't understand why there would be so many differences.

yes, I think we pay them (Alan Green) brand uk marketing / pr company so they post our news.

I thought he was too busy crying about BCN.

Again DYOR, but the deal to take 20% could close this month (could 3-4x the SP) 2-3 years for full production.

This is very rough and others will have more accurate numbers, in any case you should do your own research:.......

Best case purely on 49% of Amapa we could be looking at something like $250m /yr Ebitda
Taking Anglo figures 49% of USD 171 million 49% 84m usd £60m (who knows, we could make more depending on iron prices)
P/E of 8 * £60m = £480m Market cap which is over 10x today's share price (£3.24 / share if no dilution) - This is just for Amapa.
Not saying this is likely but it is not impossible.
If we get it over the line we could easily 3-4x from here in the near term and 10x long term.
If the other assets perform it could obviously go beyond that.

About the Amapá Project

The Project commenced operations in December 2007 with the first production of iron ore concentrate product of 712 kt in 2008. In 2008 Anglo American (70%) and Cliffs (30%) acquired the Amapá Project in 2008 as part of a larger package of mining assets in Brazil.

Production steadily increased to 4.8 Mt and 6.1 Mt of iron ore concentrate product in 2011 and 2012, respectively. During this period Anglo American report operating profits from their 70% ownership in the Amapá Project of USD 120 million (100% USD 171 million) and USD 54 million (100% USD 77 million).
https://www.londonstockexchange.com/news-article/KDNC/updated-mineral-resource-estimate-amapa-iron-ore/14739627?lang=en

Hako Reported Destination: TROMBETAS
Restart the search Captain

The changeover is today on my sched (13,19,23,27,1), P2 was 18 prior to removal.

Pier 1, so Top Confidence looks too small.
Hako is still hanging about so could still be ours.
Berge looks to have moved in position to be next but it’s supposed to be Forestal. We are scheduled to be in after those two.

Yeah exactly @tomcat, just saying there might be some left over once geralds have been given their share.
All lining up well with several of the assets moving up the value chain now, we still look like a bargain, this will be interesting to look back on in a couple of years.

Interesting:
Zamin suspends iron ore production at Brazil's Amapá operation
Zamin Ferrous has decided to halt iron ore production at Brazil’s Amapá operation for a period of three months, it told Steel First on Tuesday April 1 2014.

"Mining operations at the Amapá mine have been temporarily suspended for a 90-day period to clear the mine's stockpile area, which has reached its 5 million tonnes capacity,” the miner said.
The stoppage at the company’s Amapá iron ore port led its stockpile...

https://www.metalbulletin.com/Article/3326077/Zamin-suspends-iron-ore-production-at-Brazils-Amap-operation.html

Some of the ore stockpiled at the mine belongs to Geralds Metals @tomcat.
1.39mt is only what is at the private port of course I think there is another >3mt at the mine but of course needs the railway and most is owed to Geralds so it hasn't been mentioned, of course it's possible there could be potentially loads left over that we can sell once the railway is in action.

Here is what I hope is happening:
Banks have signed, this is then being registered with the courts JRP process, we are then just wating for the judge to ratify the deal and grant the 99.9% ownership of Dev to PBA.
I think the next decision will be the big one.

https://www.stj.jus.br/sites/portalp/Paginas/Comunicacao/Noticias/Juiz-pode-determinar-penhora-no-rosto-dos-autos-de-procedimento-arbitral.aspx

I think it is about attaching records from another case file to this one. There have been 7 occurances on our case and it seems to be shortly followed by a decision.

"the attachment on the face of the records is the attachment of assets that can be attributed to the person executed in another process in which he is the author or in which you expect to receive something of economic value."