Member Info for EV_Bull

Cheers, I think the market is asleep here and patience will be rewarded.

DEV's EGM now being held at the Company's headquarters (not virtual) on November 30, 2021, at 10:30 a.m

Dev Mineração S.A. In Judicial Recovery
Corporate Taxpayer ID (CNPJ/ME) 06.030.747/0001-79 - Corporate Registry (NIRE) 35.300.466.136
CALL NOTICE
EXTRAORDINARY GENERAL MEETING
The Shareholders of Dev Mineração S.A. - In Judicial Recovery
Judicial Recovery, a private legal entity, enrolled with the National Register of Legal Entities (CNPJ/ME) under No. 06.030.747/0001-79, with address at Rua Claudio Soares, 72, Pinheiros, São Paulo/SP, Zip Code: 05.422-030 ("Company"), are hereby invited to attend the Extraordinary General Meeting to be held on November 30, 2021, at 10:30 a.m., on first call, at the Company's headquarters, to resolve on the following Agenda: (i) to group the one billion, nine hundred and ninety-three million, two hundred and twenty-five thousand, eight hundred and fifty-five (1,993,225,855) common shares, without par value, representing the Company's subscribed share capital, in the proportion of ten (10) shares to one (1) 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 with no par value; (ii) the settlement of the fractions of shares resulting from the reverse split, if approved; and (iii) the consolidation of the Bylaws, with the aforementioned changes. São Paulo, October 19, 2021.
Dev Mineração S.A. - In Judicial Recovery - Wanderlei Bammann de Carvalho - Director.

Want a challenge? DEV Mineração is hiring!

Specialist in Economic and Financial Management

REQUIREMENTS: Training in Accounting Sciences, Administration or Economics. Requires consolidated experience in budget control, economic and financial planning in large companies with international commercial operations. Mastery of financial management software and office package, analytical skills and systematic vision.

ACTIVITIES: Raise and analyse the company's financial indicators in order to define parameters for the budget and investments, directing economic planning and influencing decisions regarding the production schedule. Be responsible for controlling the mining company's costs, responding to audits, preparing revenue projections and ensuring compliance with obligations with regulatory bodies. Evaluate economic scenarios in the mining segment and carry out project feasibility studies.

CONDITIONS: Living in Amapa, salary compatible with the market, benefits (company food and transport, food voucher, health plan and dental health insurance, life insurance assistance)

https://www.reddit.com/r/CadenceMinerals/comments/qzpmzu/more_recruitment_underway_dev_minera%C3%A7%C3%A3o_is_hiring/

DEV Mineração is also hiring a professional with solid experience in Economic and Financial Analysis.

Exactly @Bannor, 60 days was the expectation of our lawyer not anything set in stone, you can understand why KM doesn't put a timeline to anything, nonetheless everything seems to be heading in the right direction, port approval, EGMs, recruitment etc. Certainly could be any day now.

As for the negs, the board don't control the iron ore price nor the banks in India, nor the share price, fair enough if you disagree with past decisions made but there are external factors outside of the BoD's control e.g EMH share price, lithium price, BCN takeover, Iron Ore price, shipping price etc. etc....

All things considered this looks to be a steal at this price. Iron ore futures are up 5% today. Shipping has been coming down too.

New job advert posted yesterday.....

Geologist

REQUIREMENTS: Education in Geology. Desirable previous experience in Iron Mining, knowledge in geology and geostatistics software.

ACTIVITIES: Perform geological, geotechnical and hydrogeological exploration. Work with trenches, slopes, explosives dismantling plans, dams. current sediment, drilling planning, analysing vertical and horizontal sections of the mine, collecting samples, evaluating, to support studies on the quality, concentration and purity of the mineral product. Acting in the monitoring of dams and waste deposits and in the prevention of disasters. Carry out field mapping and prepare geological maps.

CONDITIONS: Living in Amapá, salary compatible with the market, benefits (company food and transport, food stamps, health and dental plan, life insurance, moving assistance)

https://www.reddit.com/r/CadenceMinerals/comments/qz0ogq/dev_minera%C3%A7%C3%A3o_is_now_looking_to_recruit_a/

Yes at £1 per share I estimate the bod’s 1.8m options would net them roughly £1m each after tax.

@MANJUKWAI Because it includes the value of the ZNWD shares being distributed.

I believe it may be in our best interests to see the outcome of the BCN takeover before we shout too loudly?

Exactly... lots of good things to come with our holdings....
https://www.mining.com/sqm-expects-lithium-prices-to-jump-50-before-year-end/

There are a lot of older people with shares here (no offence), people have life events where they have to sell out (death, divorce, house purchase etc...) the risk you take trying to guess the market is that news could be any day and you miss out.

The current SP is a gift, I have also added today on the back of the big sells today.
Production is roughly 2 years away so whilst the current Iron Ore dip is weighing us down a bit I personally expect that the trend will reverse as long term demand is expected to rise year on year and China want to reduce their dependence on Australia.

Elsewhere both Dev Mineracao and Dev Logistica held EGM's (results not public)
Dev have revitalised a local monument https://correiodesantana.com.br/2021/11/revitalizada-praca-da-biblia-sera-reinaugurada-no-dia-do-evangelico/
And Inspections of the railway have taken place by the local municipality.
All points to me that it's only a matter of time now before we have our 20% sorted.

On the Main case for the Judicial recovery there were 5 documents and emails attached last week and a "Dispatch Conclusions" entry 12/11/2021.
Dispatch Conclusions (Conclusos para Despacho) is a legal term used to indicate that a case is in the possession of the judge and ready to be analysed.

On the Execution of Extrajudicial Title case the following decision appeared 16/11/21

Relation: 0318/2021 Content of the act: Visas. The executing party expresses, within a period of fifteen days, the information provided by the Judicial Administrator (pages 261/263), especially with regard to the qualification of the credits pursued here in the judicial reorganization. In inertia, make conclusions for extinction, as per r. decision of fl. 244. Intimate yourself. Lawyers: Osana Maria da Rocha Mendonça (OAB 122930/SP), Tiago Ravazzi Ambrizzi (OAB 236645/SP), Edgard Silveira Bueno Filho (OAB 26548/SP)

My interpretation (could be wrong) is that this case is about seizing/claiming assets in lieu of payment for debt and becomes null and void once the judicial recovery is complete.
I read the above "make conclusions for extinction as per r. decision of fl. 244." as very positive as this particular case will be closed/extinguished when the deal is ratified.

This was also in the same case 05/07/21
"Let the parties say about the approval of the recovery plan of the executed, proving it, within 15 (fifteen) days. After, make the case concluded"

Also good find on explaining the 4,550 hectares, thanks!

I have interpreted it differently Dallasdaz, i.e those are the only claims with a royalty on them

Also backed by this quote: "certain concessions"
Orr Ewing Royalty
The Company has previously disclosed the existence of an agreement between the late Mr. Colin Orr- Ewing, the past Chairman of the Company, and the Company subjecting the Sonora Lithium Project to a 3% gross overriding royalty (the “Royalty”) on production from certain concessions within the Sonora Lithium Project.
https://www.bacanoralithium.com/pdfs/Bacanora-FS-Technical-Report-25-01-2018.pdf
Page 40 (26)

Also backed by this quote: "certain concessions"
Orr Ewing Royalty
The Company has previously disclosed the existence of an agreement between the late Mr. Colin Orr- Ewing, the past Chairman of the Company, and the Company subjecting the Sonora Lithium Project to a 3% gross overriding royalty (the “Royalty”) on production from certain concessions within the Sonora Lithium Project.
https://www.bacanoralithium.com/pdfs/Bacanora-FS-Technical-Report-25-01-2018.pdf
Page 40 (26)

@Dallasdaz / @Obs I could be wrong but.... it would appear from reading the court case the 3% royalty is only applied to 5 concessions....

the case seems to cover some of the JV concessions but not all as it mentions in the case a 3% royalty "approximately 4,550 hectares" across 5 claims so not all claims have a royalty, but it's not exactly clear to me. It could be beneficial to them to mine in a different location (in the JV area) to avoid the royalty, given it's a 250yr resource.

From the case:
----
[21] While earlier, undated, versions of the Letter Agreement between Mr. Torres and Bacanora (being the parties to the LOI) referenced slightly different versions of the overriding royalty, its final version was included in the July 21, 2010 LOI. Pursuant to paragraph 5 of the LOI:

Each of the Vendor [Torres] and Bacanora acknowledge [sic] agree that a 3% royalty is payable to Colin Orr-Ewing on all production of lithium from the Assets and that they will serve him with not less than sixty (60) days notice if they intend to relinquish ownership of any of the Assets.

[22] “Assets” is a defined term in the LOI and includes, pursuant to Schedule “A” of that agreement, four existing “lithium claim titles” in Sonora, Mexico in relation to four specified parcels of land, and one “pending lithium claim title” on lands still to be staked in Sonora. The total area of land covered by the lithium claims measures approximately 4,550 hectares.
----

https://www.bacanoralithium.com/pdfs/Bacanora-FS-Technical-Report-25-01-2018.pdf
Page 34 (20)

The licence holding by the Company forms a continuous coverage over the Project area of 8,154 ha. This is illustrated in Figure 4.3.3 and Figure 4.3.4. La Ventana and La Ventana 1, covering approximately 1,820 ha. The five concessions El Sauz, El Sauz 1, El Sauz 2, Fleur and Fleur 1 cover approximately 6,334 ha in total.

With sizes and date granted listed on page 36 (22)

-------
These were all granted in 2010 which is when the royalty deal was done so perhaps these are the four referred to in the case:
La Ventana 875 ha 22-Jan-10
El Sauz 1,025 ha 22-Jan-10
Buenavista 649 ha 22-May-10
San Gabriel 1,500 ha 12-Mar-10
(4049 ha total)
The one other was still being staked so possibly
La Ventana_1 945 ha 10-Jul-14

So potentially Fleur and Fleur_1 and El Sauz 1 & 2 do not have claims on them?
https://www.bacanoralithium.com/pdfs/Bacanora-FS-Technical-Report-25-01-2018.pdf
Page 36 (22)