Member Info for EV_Bull

"costs" will be shipping and handling and selling costs. Our money that has been put in to the JV to fund scoping studies etc is going towards the extra 7% to take us to 27%.

Crux interview very good. Comparing BCN and EMH as massively undervalued to the US listed companies at 1/6th of the value and predicting EMH to 3-4x this year.

Good research there Obs. The great thing at such a low market cap is that it only takes one thing to go right at Yangibana / Sonora / EMH / Amapa for large returns to be possible. I like the odds!

The minimum i'd expect is around 75p on the 20% news (in theory 4x from here within a month or two). Then £1+ at the 27% point (6x) and upwards. The new scoping study should also provide an updated NPV which should allow the sp to go higher given current ore prices.

I believe those appeals all predate the JRP approval, suspect they are all loose ends being tidied up as subject to the JRP conclusion they will no longer be relevant.
I don't think we will have too much longer to wait.
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Recoveries must manifest themselves within 5 days. In due course, make urgent conclusions for decision.
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Thanks @Mullins, very positive interview, pretty much confirmed doubling EMH production to 50kt.

Indeed maddog.
All being well in the 2-3 year timeline ahead we should have:
Bacanora In-Production (possible expansion in JV areas)
Hastings in Production (possible expansion in JV areas)
EMH in Production
Amapa in Production
I would imagine multi-£ at that point.

Cadence market Cap @ 19p £28m - over 50% under valued IMO given Amapa potential.
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12% Stake in EMH 19,747,740 shares x 85p = £16.8m
1% Stake in Macarthur Minerals = £0.4m
My JV valuations
Yangibana JV £5m+ (HAS now fully funded and drilling in JV areas)
Sonora JV £7.5m+ (BCN now fully funded)
Lithium Technologies & Lithium Supplies – guesstimate of £200k now Core Lithium are showing success next door
Amapa Cash in Escrow £1.8m ($2.5m)
Cash from sale of EMH Shares £1m?
~£32.5m value without Amapa going ahead.
Amapa @ 20% worth at least £85m
Amapa @ 27% worth at least £115m
My conclusion – KDNC is low risk shot at a 5x multi-bag opportunity, Amapa is still not priced in at all (asymmetric risk/reward opportunity) very surprised this isn’t at least 30p/share currently, patience will be rewarded IMO - do your own research of course (and post it :) ).

f a c e b o o k .com/groups/guiomar2

Just thought i'd share this for anyone interested:
Facebook group for ICOMI workers in Amapa seems to be quite a bit of local interest and some wanting jobs with Dev. May provide some local knowledge / boots on the ground info.
https://www.********************guiomar2

Very underrated IMO, great result considering the lockdown. The quietness on here I take as a good sign as I think this is a great long term growth company.
https://www.theguardian.com/business/2021/mar/02/hotel-chocolat-boosts-sales-as-fans-feed-craving-online

@jimb2 If you're comparing the two texts I think you are, then translate is playing tricks on you, the portuguese looks identical.

This is the part of interest:
Note that downloading the PDF and translating helps readability as some parts are bold and my interpretation is it's basically statement (bold) and response from judiciary (non bold):
----Statement from lawyers----
7) Pages 17,969 / 17,970 (Sergio Firmo Sociedade de Advogados requiresupdate on the finalization of the Agreement between Recuperanda and Sindicato dos Bancos, underpenalty of convolution of bankruptcy judicial reorganization; Fls. 18.004 / 18.043: LimaGonçalves, Jambor, Rotenberg and Silveira Bueno Advogados informs that it sent the data bank accounts and requires the Respondent's summons to present the Agreement signed with the Banks' Union; Fls. 17,975 / 17,999 (AJ joins Judgment given in the interlocutory appealInstrument No. 2199480-27.2020.8.26.0000, maintaining the decision that authorized the sale of theiron ore):
----Response from Judiciary----
Tell the Respondent about the finalization of the Agreement and the beginning of the sale of the iron ore and depositing the amount in a judicial account.
-----

I don't think there is anything major revealed here, we are still all waiting to hear that the bank agreement is finialised.

With the positive news around our JV's - BCN fully funded for construction, Yangibana placement and drilling in JV areas with rare earths going up in value and China restricting exports and recent positive Amapa news and due to start shipping I have updated my own valuations. I believe the current market cap of £30m is now fully covered by non Amapa assets. Amapa is still not priced in to the shares in any meaningful way yet. I believe the present value of KDNC should be at least £60m ~40p/share with Amapa given only a (25% chance of completion in that estimate) and fair value at 50% risk closer to £90m ~60p/share. With 27% stake in Amapa I believe fair value far exceeds £100m (~75p/sh).

Quite possibly, and I don't fully trust the translations (some of it seems to be just google translate). Either way all of the indented text is historical and much of it no longer relevant to the present situation which is now very positive.

I would think that would be the 60 day period which granted was presumably from April 2020.

I expect the recent run up in ore prices might have changed the equations a bit. I don’t think we have long to wait to find out.

I was referring to the appeal itself as a way for the banks to gain the upper hand in negotiations. Now that the appeal is rejected Dev has the upper hand in negotiations and the banks will do the deal as they have nowhere else to go. The banks were probably waiting to see if the appeal was upheld before coming to any agreement.

@obs completely agree, in my view this was the banks attempt to get all of their money directly from sale of the ore and they will now have to get in line and accept the previous deal proposed by Dev. The recent interviews from KM are very encouraging and finalisation of the deal must be imminent.

My view on the potential bags, this should be around a 3-4 bagger on the closure of the bank deal for 20% (within the next 1-2 months) then another bag or two (from current price) on the 27% (6-12 months), with the mine fully operational and if high ore prices persist I'd expect it to be closer to a 10 bagger within 1-2 years. With a large part of the downside protected by the Jv's and EMH stake this has incredible potential with Amapa really not currently being priced in to the share as i've been saying for weeks.

Only 4 shares traded at the closing price. Should really have closed at or around 19.22