Member Info for isb1974

Perhaps you got some of mine, you are welcome

So given they have not acknowledged marlin V was the 4th shipment that means no shipment in June.

Didn’t they say they were going to try to increase the shipments to 1.5 per month not 0 a month?

Time for some more tweets about the iron ore prices and time to role out Alan Green again because for the next two weeks during June all that’s going to happen is a drift in SP as people begin to think this is dead in the water and sell up, probably even the rampers.

Boeing?

In early September 2020, we announced that DEV, Indo Sino and Cadence had agreed in principle to the settlement terms proposed by the secured bank creditors (“Bank Creditors”). We understand that two of the three Bank Creditors are awaiting credit committee approval while one has already achieved this.

Versus - let’s just use Covid as an excuse... even though this has been dragging on since Sept 2020

In early September 2020, we announced that DEV, Indo Sino and Cadence had agreed in principle to the settlement terms proposed by the secured bank creditors ("Bank Creditors"). The investors and DEV remain in constant communication with the Bank Creditors and all parties are aligned to finalise the agreement. We have been informed of some further delays with two of the banks (based in India), whom are experiencing staff shortages due to the COVID-19 pandemic.

So I know that it says this in the original RNS as well but I’ve only just clocked it.

So according to the RNS the first two shipments covered 3/4 of the $10m for the creditors - so based on that the 3rd shipment should have covered the remaining $2.5m

So why haven’t they announced that stage of the project has been completed?

And what about the 4th shipment Marlin V which they haven’t even acknowledged and why did they change the June presentation to read 3-4 shipments when clearly based on that RNS 3 shipments would have easily covered the $10m

Clearly many lies being told one way or another - beginning to wonder whether these are get out quick signals before they announce it’s all fallen through.

On slide 9 what is the difference between "Iron ore shipment from stockpiles" and "Sale of Fe stockpiles"?

Or are they covering their ass as ship 4 has already gone ie Marlin V and the one at the end of June is ship 5 - no hold on that can’t be the case because their reply to me was that they would announce as and when shipments are done to the market and not sneak it into a presentation - their communications have turned into an absolute dogs dinner since the 2nd shipment

Staggering - they have been saying 2-3 for weeks if not months and all of a sudden they change it to 3-4 - do they have any idea how much profit they are making from each shipment?

So now they are saying ship 4 at the end of June is still part of the initial shipping which doesn’t need the settlement to be done - are they implying that the settlement is delayed further as there is no mention of when ship 5 is due!

Part of my email, sent on Monday ....

Firstly, can you confirm that the initial shipping up to US$ 10million in gross profit has already been completed as you state that this would be from 2-3 shipments and you also state that the 3rd shipment has been completed in late May2021. If it has been then why has there been no RNS confirming this given that 3rd shipment was nearly two weeks ago?

Secondly, you state that shipments after this initial shipping will be under the settlement agreement which I assume must be the 4th shipment as you state the initial shipping would be completed in 2-3 shipments. You also state that the 4th scheduled shipment is at the end of June 2021. Therefore, can you please explain why according to the port authority website (http://www.docasdesantana.com.br/index.php/operacional/programacao-de-navios#navios-cais-1) there is a carrier called Marlin V which is owned by Dev currently due to set sail today having been loaded with Iron Ore?

I'm sure you can imagine it has been a frustrating year for shareholders as you have been reporting closure with the banks for a considerable time yet nothing has materialised. Your presentation has just caused even more uncertainty given what people are seeing at the port.

Thank you for your email, and thank you for your continued support as a shareholder.

In regard to your queries, we will report details on shipments of iron ore to the market as and when they happen. For future guidance in this regard, we recommend that you follow the Regulatory News Announcements provided by the company.

In addition, further financial guidance in regard to profit targets or margins achieved will be provided via the Regulatory News Announcements from the company.

In regard to closure with the banks, we are negotiating with several different banks, all in different time zones, which has presented some logistical challenges. Nonetheless, we are working to complete this as quickly as we can, and will report any further progress to the markets via the Regulatory News Announcements provided by the company.

Good to see their social media is a few days behind the day they actually put it on their website!

Yes appreciate the point from the courts stating 4 but why had Kiran stated 2-3 in interviews and in presentations if it’s always been 4?

As his interviews and presentations have been after that court ruling I assume that is more upto date based on possibly lower costs than originally thought and price of ore going up - surely Kiran would know more about the profit side of things than the courts?

Agree, I believe seeing another boat scheduled in and confirmed on the port website for Dev before the end of June will be promising, unless of course they are shifting something for someone else at the moment whilst they wait for the deal to be done. If that is the case then we have to continue to wait for an RNS from cadence or at least a verbal update as opposed to a presentation just added to their website

They stipulated in a presentation that a 4th boat wouldn’t be until the end of June and that it would be under the banks agreement- surely if Marlin V was the 4th boat and it was under agreement they would have to RNS that straight away as it would have a material effect on the company and SP.

So I’m sticking with the deal is not done and a 4th boat that is applicable to kdnc is not until the end of June and that’s only if the deal gets done.

Plenty of story left in this one yet

it would wait until tomorrow to go back down, but it couldn’t even manage that.

Guessing we will be back at 27p pretty soon tomorrow morning

Still nothing about Marlin V from the BOD which I’m taking as it wasn’t really ours and the presentation was correct - so boat number 4 due end of June then and only if the aligned banks finally sign or the unaligned banks are forced to by the courts

Just ignore iamrich - all he says is that an RNS is just around the corner, or within two weeks blah blah blah - says nothing else.

He made me laugh yesterday though when he said people were getting too excited about a potential RNS - this comes from someone who has been predicting it every two weeks since august last year.

Like all of us he hasn’t got a scooby do!

As far as I am concerned this is still just as likely to fall flat on its face as it is to get over the line!

I stumbled across a tweet from a couple of years ago from Alan Green congratulating the BOD on a deal with PREM - how did that one work out!

Guessing no news is coming so back down by 6-7% tomorrow

got to be a leak with an RNS incoming, surely!

So looks like the June presentation has an error, but what was the error - the date of the 4th shipment or the point about the 4th shipment would happen after bank agreement?

Clarification would be good from Kiran

http://www.docasdesantana.com.br/index.php/operacional/programacao-de-navios#navios-cais-1

It’s been doing a very good job of stopping it for the last 18-24 months

And so the never ending story continues.....

Guessing the SP will draft back down now during June given there is no boat scheduled until the end of June and that depends on whether the banks agreement is sorted by then which given India still has its covid problems I doubt... unless of course they are just using that as an excuse to hide the fact that they have not agreed in principal and are not aligned with the banks.

I said back in Jan nothing would happen until August, not sure even that is likely at this rate ..

Iamrich, how many times since Jan have you predicted an RNS within the next few days, week or two weeks?

.... for the third shipment?

Let me guess .... they are so close to announcing the bank deal they are just holding it back so they can release it altogether either within the next few hours or first thing on Tuesday morning?