Member Info for EV_Bull

Just a few thoughts.....
Presumably it's possible Cadence don't have the full knowlege of Dev's shipping details etc until we get the keys as such? Maybe why we haven't had an update yet? Does anyone know how much insight our BOD have other than through the courts? And any idea who is running dev and arranging the shipping currently?

He'll soon be there, Friday Mar 26, 9 AM UTC
......
The current position of OSIOS DAVID is at coordinates 10.3018 N / 53.5348 W, reported 3 hours ago by AIS. The vessel is en route to the port of Santana, sailing at a speed of 13.2 knots and expected to arrive there on Mar 26, 9 AM. 04:00 LT (UTC -5) local time (in 2 days, 15 hours )

The vessel OSIOS DAVID (IMO: 9593361, MMSI 538008032) is a Bulk Carrier built in 2012 (8 years old) and currently sailing under the flag of Marshall Islands.

https://shipfix.com/ship/osios-david_IMO-9593361

This site has up to date position data of David.
https://shipfix.com/ship/osios-david_IMO-9593361

More info on the Cliffs deal:
They also have to fund 30% of "estimated that $350 million of additional capital will be required" with our predicted cost being half that you could add $51m to their puchase price for equivalent 30% value. ~$184m for 30% ($165 for 27%) that is if we don't consider any stockpile value (which will effectively cancel out the creditor value)
https://news.thomasnet.com/companystory/cleveland-cliffs-closes-on-transaction-to-acquire-30-interest-in-brazilian-mine-project-511458/
http://ir.mmx.com.br/show.aspx?idMateria=P1Ik3MjkGplmqfyum34vWA==&IdCanal=Xoe4t+TfUttgbDO0ZQMHjw==

For those wondering, Cliffs (now Cleveland-Cliffs Inc) paid $133 million for 30 percent of the Amapá Project in 2007.
https://www.jonesday.com/en/practices/experience/2009/08/cleveland-cliffs-acquires-centennial-asset-amap-participaes-for-$133-million

CL YANGZHOU has gone past Santana, so next up may be OSIOS DAVID as you suggested @Obs.
https://www.marinetraffic.com/en/ais/home/shipid:5774176/zoom:10

@isb, perhaps we are so close to done with the deal now that there wasn't any point in any other RNS other than the one we are all waiting for stating that the deal with the banks is now done and we're taking our 20%.

As @mrnegative fairly points out the deal with the bank allowing us to take our 20% stake is the only RNS that matters to shareholders regarding Amapa so why bother with anything else at this point?

We have it from the CEO last month and in a legal court document last week stating that the deal is at the final stage. Surely only a matter of days now I would think.
There has never been any indication that a deal was not going to happen and the CEO has a legal obligation to tell us if there is anything material that has changed in this regard so personally I see the lack of news so far as a massive positive.

@isb, of all the things to concern yourself with... why this?
Iron ore is a "commodity" we're not selling van gogh paintings or something.
Rest assured there are plenty of buyers of the stuff and it will most likely end up in China as it did in the Zamin days.

Another way of valuing Amapa / Cadence one fully up and running (i.e the 2 year best case of £2/share I stated earlier at around £300m market cap) is the Anglo profit for 2011 (based on 70% stake).

The Amapá operation contributed an operating profit of $120 million for the year, compared with an operating profit of $16million in 2010, reflecting a strong production performance and continued cost containment during a period of elevated prices. Production in 2011 totalled 4.8 Mt, a 20% increase over the previous year.
2011 ore prices were very similar to todays from what I can see so it seems like a fair comparison.
$120 / 0.7 = $171.4m for 100% stake.
27% being $46m (£33m) and 49% being $84m (£60m).
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On a P/E of 8 that would give valuations of £264m for Amapa (27%) and £480m for 49%.
Assuming the current stake was held in EMH and became £2/share or was used to invest elsewhere e.g help take us to 49% you could add in another £38m giving £300m valuation, but because the company at this point has £33m a year income perhaps some of this profit allows the financing of the other JVs e.g Yangibana and Sonora adding more value.

Just look at the beauty, and a confirmed ore carrier:
Photographers comment: "Loading iron ore at No.2 bulk berth, Kwinana, Western Australia."
https://www.fleetmon.com/vessels/osios-david_9593361_3468748/photos/1091919/

lol @mrnegative
Recuperanda informs that on 10.03.2021 the procedure for moving iron ore to CDSA Port was initiated, the first shipment of iron ore is scheduled for 30.04.2021 (probably shoud read 30.03.2021 as per CDSA website) and the second for the month of May, and that the terms of the Agreement with the Union of Banks are in the final stage of negotiation.
What else is there to say?

@Evan I have posted my valuations a few times here but I believe we should be nearer 30p than 20p today.

67p would value us at £100m which I think is easily acheivable upon us taking the 20% with Amapa @ 20% worth at least £85m and £20m in EMH.

With Amapa @ 27% and everything going well I think we should be worth at least £115m + almost £20m in EMH + the rest we should be around 100p+ (£150m ish).

I put my everything goes well 2 year best case target scenario at £2 (£300m) - We undertake the right to acquire 49% of Amapa project, EMH @ £2, Sonora and Yangibana JVs in production.

@obs,
worth mentioning the Dev Private port location is:
https://w3w.co/hugs.admires.respects
with stockpiles at
https://w3w.co/forecast.screamed.massive
https://w3w.co/happy.tractor.bunch
as pictured here:
https://www.cadenceminerals.com/wp-content/uploads/2020/01/Port-South-1030x572.jpg
The heaps next to the public port are actually woodchip storage.
https://www.ppi.gov.br/mcp1-terminal-at-santana-port-ap

In theory there should be some visible activity at the dev private location very soon... we need some boots on the ground, any volunteers?

If David is not the one for you,
Perhaps long shot ULTRA INTEGRITY is more your type? at 66/1
https://shipnext.com/port/santana-brsan-bra
https://www.marinetraffic.com/en/ais/details/ships/shipid:3867242/mmsi:538006751/imo:9748083/vessel:ULTRA_INTEGRITY

OSIOS DAVID En-Route you can have him at 8/1
https://www.marinetraffic.com/en/ais/details/ships/shipid:464921/mmsi:538008032/imo:9593361/vessel:OSIOS_DAVID

Info on "DARE" From an unrelated case

“burning” of the tab = authorize the service
https://www.proz.com/kudoz/portuguese-to-english/law-general/6822973-queima-da-guia.html
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Internal Affairs Department of Justice COMMUNICATES to the Magistrates, Officers and Servants of the Judicial Units of the State of São Paulo, with regard to the guides issued in the Costs, Collections and Deposits Portal:

There is a functionality for the “burning” of the DARE tab, which allows both the verification of regular collection, as well as its unusability for future demands, since it will be linked to the process;

To access it, the user must be logged in to the "Costs, Collections and Deposits Portal" and click on the "COSTS" tab> "AUTHORIZE SERVICE (BURN)" and indicate the number of the tab to be consulted;

For guides in which there is no process number (type of service INITIAL PETITION), it will be necessary to previously link the guide to a process in progress before completing the firing;

This procedure will enable the verification of possible frauds in the payment of the guides, and should be used whenever there are suspicions regarding the regular payment of costs (court fee, mandate fee).
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More action in the courts tonight....
Notary Public Certificate Issued
CERTIDÃO_QUEIMA DARE
QUEIMA = Authorise (and also means burning)
The “DARE” (Documento de Arrecadação de Receitas Estaduais) = State Revenue Collection Document - seems to be a system they have for collecting and issuing payments from the court.
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What is a "Notary Public Certificate Issued" you ask: (from google)
The issued publication certificate occurs after a judge has evaluated the case file. The parties involved must necessarily be notified of the judge's order, which happens through publication in the Official Gazette of the State (DOE).
The document, also known as the notary's certificate issued, serves to indicate, in a succinct way, the summons of the parties involved in a process for the fulfillment of the procedural act set out in the certificate.
From the publication of the publication certificate issued in the Official Gazette, the next steps will depend on the nature of the procedural act. It is up to the parties involved in the process to study all the content with the responsible lawyers.
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Things are sounding very promising.

Perhaps Commander Jesus will be able to tow us in to port?
https://www.marinetraffic.com/en/ais/details/ships/shipid:6469120/mmsi:710000774/imo:0/vessel:COMANDANTE_JESUS

You can have 1000/1 on Atlantic Spirit as it's a Log Carrier: check the photo on here:
https://www.fleetmon.com/vessels/atlantic-spirit_9660126_8040283/

Good shout @pgal possibly for UNAMGEN given it's a bit early for us?
Reported Destination: BR SAN
CL YANGZHOU (IMO: 9703265) is a Bulk Carrier that was built in 2019 (2 years ago) and is sailing under the flag of Liberia.
It’s carrying capacity is 81061 t DWT and her current draught is reported to be 7.6 meters. Her length overall (LOA) is 228.9 meters and her width is 32 meters.