Member Info for EV_Bull

I am guessing something changed in the agreement/deal and we are now getting 100% instead of 99.9%. It was in the RNS.

An accelerated Sonora is very tantalising Bannor at these Lithium prices! We must re-rate soon!

I am guessing it’s borderline between end of Jan beginning of Feb so thought better of it and decided to update it to Feb just incase.

Indeed, we had this debate to death the other day and it’s likely some months away so hope we will be at a better share price by the time we’re ready to take the 27%.

Yes shipping is the next one I’m expecting soon
Missed that one off the list somehow.

Probably sell some other investments down for the 27% depending on SP, why dilute at this price - we have already partly funded towards it already.

Here is my take on upcoming events and catalysts
1) Q&A tomorrow (possible RNS prior)
2) Court ratification of deal
3) 20%
4) Amapa PFS
5) Operational Licenses granted (e.g Dam)
6) 27%
7) EMH BFS / Offtakes etc
8) Ganfeng offer for Sonora
9) HAS deal for JV
10) Institutional ownership stakes - TR1's etc

Lots more beyond

Iron Ore climbing and shipping falling.....
Seaborne index 58% Fe fines $83.50/t
Seaborne index 62% Fe fines $131.50/t
Seaborne index 65% Fe fines $161.20/t

We don't know the grades and amounts to fully calculate the stockpile value but KM has said it is various grades up to 65%
Assuming half is 58% FE and a quarter is at 62% and a quarter is at 65% and Handymax shipping costs of $45/t then the stockpile would be worth at todays prices
$148.7m - $58.5m = $90m
I believe around $60m is owed to the banks leaving $30m for reinvestment in to the project.

At todays prices my "fag packet" says:

Tonnes at 65% 4,400,000 Tonnes at 62% 900000 Total 5,300,000
Price/t $161.20 $131.50 $156.16 (Average)
Revenue $709,280,000.00 $118,350,000.00 Total Revenue $827,630,000.00
Opex $21.00/t $111,300,000.00
SG&A $2.00/t $10,600,000.00
Capex/loans $10.00/t $53,000,000.00
Shipping $30.00/t $159,000,000.00
Total Costs $63.00/t $333,900,000.00
Gross Profit $93.16/t $493,730,000.00
Tax (Assumed 35%) $32.60/t $172,805,500.00
Net Profit $60.55/t $320,924,500.00 (£232.88m)

27% = £62m net profit per year
49% = £114 net profit per year
NPV8 (100%) $2bn

KM himself has said that this is a rubber stamping process and it's all agreed they've had several months to get everything in order for this moment so I don't expect it to take very long.
Of course everything posted is either opinion or fact, any serious investor would determine the facts for themselves.
The facts are verifiable, the calculations are all simple maths and discernible on your slide rule if you want to work them out.

Cadence Minerals (AIM/AQX: KDNC; OTC: KDNCY) is pleased to announce that it has entered into a binding settlement agreement ("Settlement Agreement") with the secured bank creditors of DEV Mineração S.A. ("DEV"), the owner of the Amapa iron ore project in Brazil.

That is the material bit.

MOVEMENTS!!
Data Movimento
12/01/2022 Conclusos para Despacho

Perfect timing Obs, expecting that schedule to fill up next! Good profit margins on the stockpile now.

And we have 1.3 million tons of ore in stockpile that we are going to be able to start shipping at a substantial profit.
This flooding although unfortunate for those affected couldn’t have come at a better time for us.

Our stockpile & Mine becoming more valuable by the day……
Seaborne index 58% Fe fines 83.50
Seaborne index 62% Fe fines 131.50
Seaborne index 65% Fe fines 161.20

There are some great charities and hotlines that can help you get the support you need boob.
https://www.mind.org.uk/
https://theprivatetherapyclinic.co.uk/blog/what-is-trolling/

This podcast is from October prior to the settlement being signed.

Alternate link:
https://audioboom.com/posts/7958073-kiran-morzaria-of-cadence-minerals-explains-the-significance-of-bank-credit-committee-approval-fo

The binding agreement is already done, the court is just rubber stamping expected to take a couple of weeks.
From 4:40

https://www.reddit.com/r/CadenceMinerals/comments/q5sbo2/kiran_morzaria_of_cadence_minerals_explains_the/

Listen from 4:40 KM states a couple of weeks.

KM himself has stated he expects it to take two weeks to get it formalised through the courts.
I class this as the first week given the courts were closed for Christmas holidays.

P.s Today, Iron Ore spot price is 10% higher than those numbers.

Not just my numbers by the way, time to get the slide rule out...

"After the completion of the feasibility study and project financing, the rehabilitation of the mine, railway and port is expected to take between one and half to two years, following which the mine plans to produce over 5 million tonnes of 65% iron ore. From an investor and shareholder perspective, the financials really highlight and put into perspective what Cadence has achieved here. Assuming that the targets are hit and a current 65% iron ore price (US$ 145 / tonne in Dec 2021) is achieved, gross revenues could be circa US$725 million per annum. With solid demand for iron ore showing little sign of slowing as we go into 2022, quite rightly Cadence shares should see a re rating as investors run the slide rule over the Amapa numbers."

https://ukinvestormagazine.co.uk/cadence-minerals-a-small-company-making-a-big-difference-in-amapa-brazil/