Member Info for Ivybush

See RNS re 5th June AGM Special Business:
To grant the Board the authority to consolidate the Company's ordinary share capital.---Passed!

Does not look as though it was made up then?

@SOYO, mrcautious, thanks for the plug---I am still here!

Last Spring I sold out completely on the basis that kdnc were not funded to withstand any delay,
which I expected, and said so here, in the bank negotiations. Have reinvested after the first cap
raise which redressed the situation, I now need 20p to cover losses but definitely will not sell at
that sp, assuming Amapa proceeds. I agree with Obs and others the outlook is very bullish.

Would not be surprised by further appeals/negotiation from bank consortium vis a vis the
dramatic increase in iron ore price thus giving the stockpile greater value in which they would
surely wish to share.

@Bannor thanks I missed that---- a single sentence in the report!

In terms of Brazilian geography Vila Nova is on the doorstep of Amapa.
Anyone know who the new owner is? Maybe they would wish to contribute to
port rehabilitation costs in return for a licence to use the facility for iron ore export.

It would be far more convenient, and I guess cheaper, for Vila Nova to use the private port at
Amapa when rehabilitated. Thus imv there will be co-operation between Dev and Eldorado
in sharing shipments of stockpiled ore until the private port is fully operational.
Makes commercial sense for both parties.

@mr.james apology accepted by me. You at least are a substantial holder.
Best to filter out such posters I find.

I will not see any response from the BB antagonist but especially for him
Semel stultus stultus semper.

@observer842 I also must have a similar risk appetite. Have added more of late.

I did post way back in June that delay was probable with the bank consortium involved.
Banks are never happy to take a haircut if it can be avoided.

Just don't forget kdnc hold over 14% of EMH [market Cap £60m]

This equates to over £8m and surely underpins present sp.

@MU345 like you, I guess, I have spent time pouring over a very complicated RNS.

Picked up the NPV of $280m but that is after expansion i.e .a new mill operating.
Still a great target, in meantime, the mine, we hope, can operate at full capacity fairly soon.

Was rather taken back by trade & deferred creditors. In addition to $3.8m to be paid out of cap raise
$7m is to be deferred up to 4 yrs and another $3.85m repayment yet to be agreed. Total $14.65m.

I hope the new CEO can get a grip on costs and move to a positive cash flow very soon, otherwise?

@observer842 I think we have both posted previously that our Sonora jv is very likely to come
into play when Ganfeng start to develop the site. Obvious economies of scale by including all
the area in developing well over 35ktpa. Ganfeng will not want us as minority interest.
Buy out of jv definite prospect.

As @Observer842 has already alluded to, the rise in EMH sp gives kdnc a choice to raise
$3.5m for funding from 20% to 27% of Amapa by sale of part holding.

Readily marketable investment, no loans, no dilution, happy days!

At last AGM RMM passed a resolution to be able to consolidate to 25p [25 to 1]

@Masterbaker please be careful you could cause the posters to suffer an attack of

hippopotomonstrosesquippedaliophobia for myself I stick to four letter words.

After consolidation which was agreed at AGM nominal share val will be £0.25p
Currently £0.01p

@Observer842 It would seem to make commercial sense to cooperate with our neighbours.
Particularly with the prospect of them sharing "our" port eventually.
Not only licence/rental income in future but maybe share of port rehabilitation cost?

Demand for iron ore can only increase imv as countries increase infrastructure projects
post covid to boost their economies. Latest US/Brasil trade deal only improves our prospects.

For any newbies take a look at CV/Biography of Dr Toby Bradbury, CEO from June 20.
Qualified mining engineer.

History [35 yrs] of deep mining experience and mine turn round -- see Shanta Gold.

He has been brought in to do a repeat on RMM. My money is on him being successful.

Do not feel Lombard have done right by selling so I am holding my investment here.

We will not have 20% until we release $2.5m currently in escrow.

To put forward an insider theory.

Could their clients be aware of a placing at say 30p and then going to buy back their holding?

No evidence whatsoever: just surprised at extent of fall in sp.

Nevertheless AIM is a minefield and not for those of a nervous disposition.

The mm's seemed happy to supply the market at any price above 0.35p today

Are we looking at forward sales pending placing below this sp?

AIM regulations !!

Well we have had to contend with:

Consortium of 5/6 banks inc foreign based.
JRP labour claim appeals
Santana port clearance approval necessary for shipping stockpile
Court hearings at Local and higher levels, never speedy!
Coronavirus restrictions on hearings/face to face contact/movements

I posted in June that delays should be expected with banks involved. Not at all surprised.
Am I positive? Yes, as all concerned [inc Amapa State Governor] want to see way forward.
Progress may be slow, but so far all appeals appear to have been dismissed to our favour.

Steady rise since May in EMH sp Outlook positive.

Another kdnc inv with good prospects.