Member Info for EV_Bull

The licensing path was approved to be shorter so the situation is a lot better now and should be a formality given it's all pre-existing.

It's perfectly possible to sign a JV or sale agreement with conditions attached e.g subject to license grants etc so I wouldn't rule it out. No reason there couldn't be a £500k upfront as part of the deal to continue operations until licenses granted.

From an RNS elsewhere... "SQM agrees to pay Andrada a US$500 000 participation fee on signing and a further US$1.5 million upon satisfaction of conditions precedent (as detailed below)."

Time to crack open those historic plans to build a steel plant in macapa.

Huge news and a game changer for the project.

£5m for 34% of a proven mine with >$1.14bn NPV10 and 42% IRR with profit after tax of US$3.14 billion over the Life of Mine strikes me as too cheap.

Also if successful, the 67% flow could increase the net operating profit of the Project, at full production, from approximately US$227 million to US$324 million per year. That's a 42% uplift in profit and a much higher NPV.

Didn't you hear AI and Trump will totally replace any need for industrial metals in future because you can live in an AI house with an AI car etc....

Something like that.

Fingers crossed for 67% news and trade sale of Amapa before the year is out.

Misjudgements of management around loans and holdings have clearly been massively compounded by bad luck, commodity price declines, Mexican nationalisation plans, that's life... no point dwelling on it.

The main concern is what is our share of Amapa worth in the current market? If we can get 67% to work then how much value does that add.

Mexican arbitration could be a decent windfall.

Evergreen could be the next Core or a duster but looks promising so far.

Good job we sold EMH looking at the current price though...?

The immediate focus of the Amapá Project is financing the next stage of development, a goal to which all the partners are fully dedicated. We believe this should be done via a trade sale or a joint venture with a highly experienced mining operator.

Hopefully Mex gov see sense and collaborate, rather than lose at arbitration.

67% DRI suitable ore makes this dramatically more attractive to potential partners/investors not many mines can actually produce it. Worth waiting for.

Seems like Q4 will be the big one if all goes to plan, with licensing, 67% ore and an equity partner.

My view is that this becomes very attractive as a "shovel ready" quick to market mine for a DRI steel producer.

Zeus View: Our assessment is that the Amapá mine could be company-maker for Cadence. We are firmly of the belief that the current market cap is more than covered by its legacy investments (not considered here). In our opinion, the development of Amapá will be transformational for Cadence and we see fair value in Amapá alone at 25p/sh with plenty of upside potential. The risks are obvious with a junior miner having access to a large capital-intensive project (Capex of $350m, plus $50m to creditors). However, Cadence has engaged with Sinoma International Engineering Co to help with project financing and sourcing the debt required and is engaging with several potential financing partners to provide the equity portion of the funding at the project level.

Without the pipe:

https://www.youtube.com/watch?v=aNSrwle45xs

Https://www.youtube.com/watch?v=CYcHoMZkgZE

The plan is conveyor, previously it was truck. Think the rail loading is about 5km from the mine.

It's actually better to push for a change of investment strategy to an orderly realisation and give the funds back and call it a day rather than oust.

I'm just holding at the moment and hoping a deal can be done asap that limits the damage.

Bad decisions from management have cost us all dearly (loans, warrants, dilutions etc.) If management had credibility they could have suspended their pay until Amapa had concluded instead of diluting to the extent they have.

Diluting the company far below NAV to fund small % increases in DEV is value destructive to shareholders so I'd like to see that one explained.

The only thing that might indicate a positive return from here is that three of them out a reasonable amount in to the placing(far more than previous) so they must expect to get a return on that in short order given the initial talks they have already had as announced in the RNS and seen on the deleted LinkedIn post. Hopefully if the 67% result comes back positively we might see a significant uplift in NPV and potential bidders given the potential to supply the US market.

What is there to say struv…. we need to get Amapa sold off before any further dilution can take place.

It will be interesting to see what develops, with the removed linkedin post a potential bidder, it makes a lot more sense to me for an interested party to buy out KDNC then they get the option to go to 49% and can then fund the project via KDNC and offer to buy out Indo.