Member Info for Ivybush

Re $3.5m for port/rail etc "majority of funding from debt" i.e. not equity raise.

KM is currently working nearly 100% on Amapa and will continue to do so.

Can only post one liners so forgive the quantity about to hit!

At least Sonora is a "free carry" and we can hold out at no cost to us.

Sorry, much to say but only one liners will go through.

1hr 15mins discussion on Amapa before formal AGM -- more info if I can post!

Sonora jv - no operational agreement yet. Expected capex repaid by toll on production.

Virtually certain Greenland licence will be abandoned, costs £300k to renew.

Plenty to say but posts will not go through.

We were advised that W H Ireland report was to be released on Monday.

Still trying to post.

Have we withdrawn from Nex Exchange? No mention at AGM.

@joesnatch Like myself your are a pragmatic poster. Yes the Amapa project wil
at last mean we are in control of our own destiny, an aspiration the CEO has alluded to
on more than one occasion. I am very much in favour.

The only reservation I have [and a question I shall ask at AGM, if not covered earlier]
is how will our BOD be arranging for day to day oversight of a multi million dollar
project in Northern Brazil?
Will there be sufficient local management expertise, involvement with another mining co
[with presumably an equity share] or do they consider they can control from London?

I hope our BOD have been busy with the logistics of this game changing project.

@observer842 I worded my question slightly wrongly.
What I meant was management expertise i.e. co-operation with a mining
conglomerate and sharing future profit.
Otherwise it seems to me that a London based CEO would be hard pressed to oversee
a multi million dollar project in the Amazon forest on a day to day basis.
Better half a cake etc.

@observer842 I share your optimism, however a question for AGM.

Given that we now have 3 ongoing development projects [Brazil/Australia/Argentina?]
in addition to various other quoted/non quoted investments and the CEO is a director
of Ukog and Emh does the BOD feel capable of overseeing such a large project as Amapa
without engaging further qualified management personnel and, if so, at what cost?

@observer842 My view on Amapa finance is similar.
Debt of $222 will be payable from free cash flow year 5 onwards. This is very reasonable
for the creditors as repayment of the company outstanding debt is discounted at only 30%.
Not a bad result for them bearing in mind the company was bankrupt.

I am taking the phrase "IndoSino assigns US$49m to Newco" to mean that IndoSino are
taking up that loan themselves but passing the liability of repayment to Newco. Thus
assigning the debt. Hope this becomes clear by RNS or at AGM.

@Frankie, you are quite safe opening links prefixed by htpps as they are secure sites.

@News Well I am sure a re-rating is overdue.
Which ever way I look at these income projections, we have to be undervalued.

Having retired 12 yrs ago I am no longer authorised to offer advice.
I cannot recall any small cap company [£10m] with greater income prospects.

It does seem a bargain at this sp.

@Observer842 I do not have a mining background but your figures do give me confidence
that kdnc has a real chance now of making regular income for some years ahead.
Maybe soon some financial journalist will catch on--an interesting Agm in prospect.

For the record the BOD already have authority to issue a further 680 million shares.

Authorised at AGM 2018 £300k nominal = 3 billion shares.
Placing March 866,666,663
Placing June 1454,545,445 Total 2321,212,108

Subtract from authorised = approx 680million or around £650k at todays sp.
Clearly new resolution for increase in share capital is for Amapa capex.