Member Info for EV_Bull

EGM is tomorrow

Dev Mineração SA
In Judicial Recovery
CNPJ/ME No. 06.030.747/0001-79 - NIRE 35.300.466.136
CALL NOTICE
EXTRAORDINARY GENERAL MEETING
The Shareholders of Dev Mineração S.A. - In Recovery
Judicial, legal entity governed by private law, registered with the CNPJ/ME under the nº 06.030.747/0001-79, with address at Rua Claudio Soares, nº 72, Pinheiros, São Paulo/SP, CEP: 05.422-030
are invited to participate in the Extraordinary General Meeting that will be held on November 30, 2021, at 10:30 am, on the first
call, at the Company's headquarters, to deliberate on the following matters on the Agenda: (i) group the 1,993,225,855 (one
billion, nine hundred and ninety-three million, two hundred and twenty-five one thousand, eight hundred and fifty-five) common shares with no value nominal, representing the Company's subscribed capital, in the
ratio of 10 (ten) shares to 1 (one) share of the respective type, resulting in 199,322,585 (one hundred and ninety-nine million, three hundred and twenty-two, five hundred and eighty-five) common shares and without Nominal value; (ii) the settlement of fractions of shares resulting from the grouping, if approved; and (iii) Consolidation of the Bylaws, with the changes mentioned above. São Paulo, October 19, 2021.
Dev Mineração S.A. - Under Judicial Recovery - Wanderlei Bammann
de Carvalho - Director.

There are still two on the roster and shipping has been coming down, it had been stated that we have various grades within the stockpiles. We won't know if it's us or Gerald shipping though until we are told.

European planned Battery battery production
https://twitter.com/alex_avoigt/status/1464552899539783686/photo/1

These are records on the court case for Dev's judicial recovery, there is a decision pending, some email attached and a document removed, not much else I can explain.

More noise for those interested........

MOVEMENTS
Date Movement
26/11/2021 Removed Document (Desentranhado o Documento)
26/11/2021 Electronic Message (e-mail) Joined
26/11/2021 Electronic Message (e-mail) Joined
26/11/2021 Electronic message (e-mail) Joined
26/11/2021 Electronic message (e-mail) Joined
26/11/2021 Electronic message (e-mail) Joined
26/11/2021 Electronic message (e-mail) Joined
23/11/2021 Conclusion for Decision

Desentranhado o Documento
Disengagement consists of the physical withdrawal of petitions and documents contained in the case records.

Noise is subjective, a bit like beauty being in the eye of the beholder, perhaps this is a symphony.......

@OlderandWiser on the port:

https://youtu.be/wZNJua-kYM4?t=1230

Q: would you say that do you think it will be necessary to reinforce or buttress certain areas prior to any future loading that could be carried out the site in order to prevent this from occurring

A: so when you know part of that rehabilitation was completed I think around 80 percent of the rehabilitation of the buttressing was completed so i think there's one more buttress to complete so we would look to complete that and that was piled to a great depth and it is concreted so there was a good buttressing carried out already so we'd complete that and that's part of the design and stability design that we'll need to review but we have budgeted for the completion of that work and yes we would need to do that prior to bringing the port back into production along with rehabilitating the mine and the railway, but these are all part and parcel of the deal that we got involved with and we knew that that was going to occur, so i think there's nothing new here and certainly we've envisaged all of these in our cost estimations at this point in time and our understanding of potential liabilities etc, but you know the advantage of this asset to be clear is yes it's got some of these historical issues but you know we don't have to build out a new mine, we don't have to build out a complete new railway we don't have to build out a completely new port, that infrastructure is in place already and you know this is sucking a thumb but anglo-american along with mmx and and cliff's probably invested in the order of a billion dollars into this asset and we don't have to do anywhere near that amount so the financial risk for us is heavily mitigated by that infrastructure and the presence of the licenses, certainly for example the railway, comparative to doing a new build.

@OlderandWiser getting back to you on the local consumption of ore question, Zamin planned to build a steel plant locally at Macapa, this was heavily supported politically as they are adding value/jobs to the local economy, reducing shipping costs.
You can read more about it here:
https://www.reddit.com/r/CadenceMinerals/comments/qlrzq4/zamins_2013_plans_for_120m_amapa_steel_plant/

------
Fastmarkets Metal bulletin January 14, 2013

"London-based miner Zamin Ferrous will invest $120 million to produce pig iron and steel in Amapá state in northern Brazil, local governor Camilo Capiberibe said late on Friday January 11.
The company will initially spend $60 million on the construction of a blast furnace to produce pig iron in the city of Macapá, with its start-up planned for mid-2014.
Another $60 million will be invested in a mini-mill that will produce long steel products such as rebar"
-------

Our assets look to be perfectly positioned for what is to come though, expect Iron Ore to recover next year after the Winter Olympics:

EMH looks well positioned:
LME Lithium hydroxide 29,000 /t
LME TIN $41,000 /t

I am confident Ganfeng will be keen on making an offer for our JVs in the not to distant future too.

Not much to say Mike, the whole market is down possibly due to panic over new Covid variants, just one of those days.
Lots of upside potential from here that's for sure.
KM in Brazil has to be a good sign.
The next few weeks / months will be interesting.

My take:
SAV is just Spodumene EMH is Lithium Hydroxide / Carbonate
SAV is Open Pit EMH is Underground
EMH has significant Tin resource
EMH has a bigger resource (albeit only 49% ownership)
EMH has a partnership with a big player (CEZ)
EMH has much better PR, Management & Board (In my opinion)
EMH is located very close to many battery factories
EMH listed internationally

I think this paves the way for the "soft loans" Keith was talking about to finance the project

https://www.europarl.europa.eu/news/en/press-room/20211118IPR17620/critical-raw-materials-the-eu-should-secure-its-own-supply

I don't think the Cinovec mine could be in a better place at a better time... EU is aiming for 80% of it's own Lithium supply - the soaring Tin price is an added bonus.

"The document indicates that the EU may need up to 18 times more lithium and five times more cobalt in 2030 for electric vehicle batteries and energy storage."

News from the European Parliament:

https://www.europarl.europa.eu/news/en/press-room/20211118IPR17620/critical-raw-materials-the-eu-should-secure-its-own-supply

I don't think the Cinovec mine could be in a better place at a better time! EU is aiming for 80% of it's own Lithium supply - the soaring Tin price is an added bonus.

"The document indicates that the EU may need up to 18 times more lithium and five times more cobalt in 2030 for electric vehicle batteries and energy storage."

@MyLastQuid has to be more to it than that, else why not just use Zoom or a phone?!
Things are looking good.

Repayments of the bank creditors were planned in 3 tranches split equally 2025,2026 and 2027 maybe this gets push back by a year due to the deal delay. DIP A,B and C are repaid prior to this.
It varies from year to year but allowing $50m/yr is a conservative assumption in my estimation.

Indeed... why else might he be back out there?! Some big deal announcement maybe?

https://audioboom.com/posts/7986225-kiran-morzaria-of-cadence-minerals-discusses-castillo-copper-s-option-extension-to-acquire-litchf
- KM is in Brazil undertaking "Admin, Finance and Operational" work

https://www.reddit.com/r/CadenceMinerals/comments/r1wifm/kiran_morzaria_of_cadence_minerals_discusses/

For sure.

KM is in Brazil!