Member Info for EV_Bull

Hi Obs,
Did you see this part:
3. The credit of the Banking Syndicate would remain a holder of sufficient guarantee, in the event of the sale of USD 10 million, destined to the payment of labor and low-income creditors 40. As noted, such statements were made when the price of iron ore was at USD88 per ton, and currently the price of iron ore is higher than USD 117.00 per ton, that is, there would be more than 300 million dollars in guarantee.1. 41. Evidently, if at that time, when the value of the asset was 25% (twenty-five percent) less than at the current moment, Embargado defended the existence of an excess guarantee, the allegation of danger of damage with the sale of the ore iron at the present time has no condition to prosper ”(pages 594/595).

There is an understanding that the banks could be demoted to unsecured creditors.
From todays judgement:
Judicial Administrator informs about negotiations between the Union of Banks, Recuperanda and investors in order to finalize the Agreement. Informs that the attempt was unsuccessful). Fls. 16,715 / 16,736 (Recovering requires a summons from the Banking Syndicate to formalize the acceptance of the negotiated terms. Alternatively, it requires the expiration of the fiduciary guarantees of the Syndicate of Banks, due to its failure to exercise within the decadence period, or, alternatively, recognition of the usucaption of the Recovering on things in fiduciary guarantee to the Bank Syndicate, over which he exercises a tame, peaceful, legitimate and uninterrupted possession for more than 3 (three) years; or, the extinction of the guarantees due to the deletion), Fls. 16,877 / 16,878 (Ricardo Souza Oliveira, chairman of the Creditors Committee, presents a statement reflecting on the decadence of the guarantees of the Union of Banks and requires that the amount be classified as unsecured)

so with EMH @ 83.20p and taking latest TR1 we have 19,747,740 shares worth £16,430,119 68% or 11p of the current Share price alone not to mention cash from prior sales.

Haven't had full chance to process this but quick thoughts:
1. I think this is a very positive movement, more evidence that the JRP is there to get the mine back up and running not just to pay the banks back.
2. It gives some insight in to the increased values of the stockpiles - more than $ 300 million at $117/t banks only owed 25% of this amount.
3. The banks cant agree between themselves and have been given 60 days to sort it out.
4. To back my thoughs I just bought 140,000 more shares. This is insanely cheap with the run up in EMH.

I will give it a thorough read again to see if anything else sticks out.

Just posted over there but looks like EMH has been discovered by Reddit....
ERPNF up 40% EMHLF hasn't moved...
https://www.reddit.com/r/pennystocks/comments/lfargh/european_metals_erpnf_speculating_on_europes/
https://www.reddit.com/r/hot_stocks/comments/lfeqoo/erpnf_is_the_2nd_hot_stock_for_today/

Maybe Reddit.....
https://www.reddit.com/r/hot_stocks/comments/lfeqoo/erpnf_is_the_2nd_hot_stock_for_today/
https://www.reddit.com/r/pennystocks/comments/lfargh/european_metals_erpnf_speculating_on_europes/

ERPNF has much higher volume than usual too

Odd.......
OTCMKTS: EMHLF 0.93 USD
OTCMKTS: ERPNF 1.32 USD

Just ordered too.
Hopefully they've though it through, why spend millions on TV advertising when you can go viral and get new customers that will repeat purchase in future?

Getting Hot
https://www.hotukdeals.com/deals/personalised-valentines-day-card-1p-delivered-at-card-factory-3663140

Cheaper than advertising if it gets people using the site, hopefully creating repeat customers?
Seems to have expired now according to https://www.latestdeals.co.uk/vouchers/valentines-day-card-delivery-1p-code-card-factory

Hi All,
Bought in recently as it seems very good value if the banks are lenient under the circumstances, other than lockdown easing, more insiders buying would help give the market more confidence.

The other thing I noticed recently is the "Priority processing" flag on the 1007707-32.2019.8.26.0100 case.

https://esaj.tjsp.jus.br/cpopg/show.do?conversationId=&cbPesquisa=NUMPROC&numeroDigitoAnoUnificado=1007707-32.2019&foroNumeroUnificado=0100&dadosConsulta.valorConsultaNuUnificado=10077073220198260100&dadosConsulta.valorConsultaNuUnificado=UNIFICADO&dadosConsulta.valorConsulta=&dadosConsulta.tipoNuProcesso=UNIFICADO

P.S I filtered RayPugh a long time ago, don't feed the trolls :-)

https://www.jusbrasil.com.br/processos/80810020/processo-n-0001106-0720155080201-do-trt-8
TO THE PARTIES: take note of the publication of the centralization spreadsheet of ID 1c4bfa0, which contains the consolidation of the values ??of all 25 executions centralized in these records. MACAPA / AP, February 2, 2021.

You could sell to raise funds for other things e.g stake in Amapa etc and because the JV would require significant investment to get in to production and produce that income you speak of if that investment could be better used elsewhere.

@soyo because it is possible or even likely that production plans and scope of the project increase due to rising lithium prices and demand. This is the same situation with EMH, which is also likely to increase production targets in my view. If you’ve set up a fully functioning mine it’s not too hard to scale it up due to increasing demand.

MOVEMENTS
Date Movement
02/05/2021 Ordinary Act - Publicable Notary's
note to LEASEPLAN ARRENDAMENTO MERCANTIL SA: arrange the payment of the mandate costs, within 15 (fifteen) days. Dr. IVO PEREIRA, (OAB / SP 143801).
---
02/05/2021 Issued Publication Certificate
List: 0088/2021 Date of Availability: 02/05/2021 Date of Publication: 08/02/2021 Number of the Diary: 3211 Page: 1070/1082

More movement in the courts: https://esaj.tjsp.jus.br/cpopg/show.do?conversationId=&cbPesquisa=NUMPROC&numeroDigitoAnoUnificado=1088747-75.2015&foroNumeroUnificado=0100&dadosConsulta.valorConsultaNuUnificado=10887477520158260100&dadosConsulta.valorConsultaNuUnificado=UNIFICADO&dadosConsulta.valorConsulta=&dadosConsulta.tipoNuProcesso=UNIFICADO

@uncleal you are probably right, I consider these valuations on the lower end to include a large margin of safety (as one should), all of the recent developments (drilling etc) from Hastings haven't been in the JV areas although they do have a lot of potential and they may want to buy us out at some point.
I did mean to write £22.5m not including amapa (rather than pre) as these estimates are what I think the company is worth today.
Low end £30m (20p/share)
Fair value £45m (30p/share)
High end £60m (40p/share)

My personal valuation / opinion (DYOR) - would love to hear your estimates
KDNC Mkt CAP £24m
------
12% Stake in EMH 19,747,740 shares x 65p = £12.8m
Yangibana JV £1-2m
Sonora £5m
Lithium Technologies & Lithium Supplies £0
Cash in Escrow £1.8m
Macarthur minerals stake £0.4m ish
Cash from sale of EMH Shares £1m?
~£22.5m pre amapa
Value of Amapa 27% stake very easily £50m probably a lot more
Probability of Amapa all going ahead multiplied by £50m I think 80% x £50m = £40m or 50% = £25m
My estimation of fair value £45m (30p/share), low end £30m (20p/share), High end £60m (40p/share)
Yes this is relatively rough and just my guesses so feel free to share your own.

From the 15th Jan, the "proper" case is here, IMO really good that the loose ends are being tidied up now - there are hundreds of similar cases / claims of the small creditors:
https://esaj.tjsp.jus.br/cpopg/show.do?processo.codigo=2S000ZNTV0000&processo.foro=100&processo.numero=1007707-32.2019.8.26.0100
------
1/15/2021 Decision
Visas. 1 - This is the credit qualification proposed by COMERCIAL MUSSI CARNEIRO LTDA - ME, in the face of ZAMIN AMAPÁ MINERAÇÃO S / A. The judicial administrator points out that the Enabler's legal relationship is with ZAMIN AMAPÁ LOGÍSTICA LTDA. (CNPJ: 07.854.155 / 0001-34), which is not under Judicial Recovery. On pages 106/116 the applicant manifested in the records, substantiating the possibility of extending the effects of the Judicial Reorganization to related companies, given the existence of an economic group and patrimonial confusion. It claimed that Dev Logística is inactive. The Recuperanda manifested itself in the file pointing out that the chosen route is inappropriate for the request to disregard the legal personality. He stated that the banknotes that were not accepted did not prove that the credit was due. AJ opposes the extinction in the face of not proving the existence of misuse of purpose or equity confusion and also because it is a credit not due by Recuperanda. 2 The issue raised in the case records is liable to be resolved in these cases, despite the fact that a lawsuit against the original debtor, DEV LOGÍSTICA, was not previously filed. This is because the following facts are known to all who work in the process: a) DEV LOGÍSTICA is inactive, with no free assets to satisfy the applicant's credit; b) DEV LOGÍSTICA is part of the reorganization group, being the holder of the right to operate rail freight transport in Amapá; c) DEV LOGÍSTICA carried out the transport of iron ore extracted by the reclaimer. In the face of such a scenario, it is assumed that the repossessed and Dev Logística operated in a common interest, with the use of the resources of each other, revealing patrimonial confusion that can result in the disregard of the legal personality. Therefore, it is up to the recoveree to prove that he has made adequate compensatory payment for the use of the railway. Deadline: 30 days. 3 Int.