Member Info for Ivybush

@FrankieH I will try to untenterhook you!

After Consolidation nominal value of each share will be 1p [currently 0.01p]
£500,000 at 1p = £50 million new shares
Shares total prior to placing will be 105million --thus dillution of 50% approx.
The max amount available to raise would depend on our sp at the time.
But as an example at 10p per share placing price this would raise £5million. Simples!

@Observer842 Re Amapa. Just caught up with your post 14.52 Monday.
On a "conservative take"----at I assume $60 iron ore price [over $80 today]

IRR in excess of 70%
NPV $560m
EBITA £136m [when in production]

These figures are outstanding when compared to our input costs.
Your suggested net benefit to kdnc of £100m on a 27% stake only.

With WH Ireland valuation/analysis due shortly. Anything close to these figures
would be very positive. A game changer for kdnc at mcap of £11m? Certainly is.

Not a new face, have been steadily buying over last 2yrs. My experience has taught me
not to panic if the fundamentals feel right.
Was happy to hold on potential of our investments before Amapa but this deal really
looks to be a winner --even with iron ore at $60!
Expect market to catch up when analysts/commentators get to grips with this deal or
when [if?] we attract institutional support.
No prediction of future sp from me except to say it must surely rise from here.

Well, it is now clear that the consolidation and Resolution 5 is to raise capex for Amapa.
Institutional support mentioned in RNS.

@MB I thank you for your regular contributions to this bb but feel I should justify
my previous comment as alluded to by yourself.

The reason for giving notice to the BOD of questions I wish to be addressed, is
not to receive a reply prior to the AGM but to allow time for a comprehensive
response AT the AGM. Given that some of my questions may require complex
replies, I do not wish to be "fobbed off" with a response that the BOD do not have
the full information to hand.
I will post on here the questions I propose to ask [assuming I am given the floor] on
the day before AGM so everone will have due notice.

With regard to providing written confirmation of my holding, my integrity was
challenged before the last AGM and again this year [not a jot of respect was one
comment posted] so I wished to be able to prove I do not lie. Thus, I am in no way
wishing to present an image of superiority [we are all equal on the day of judgement]
but simply to confirm the veracity of my comments.

Further couple of observations:
I understand problems in OZ over lithium miners is with spodumene.
Both bcn and emh [20% held by kdnc] are, I believe, to produce a lithium carbonate which battery manufacturers
require, and which has a higher price.
Lithium is now quoted on London Metal Exchange [but not LiCO3] but no forward contracts yet.

Re cosolidation:
A little disconcerting unless a major investment opportunity presents itself--another AGM question.
Re BCN:
I would think Ganfeng would be willing to talk with us to take over jv's rather than have a minority
holder to deal with. Main question is --does our jv commit us to proving our share of capex? another for AGM.

Obs, please check and correct/comment as you wish.

Re BCN Ever since the Ganfeng deal was announced I have felt that our jv's in Sonora
would come into the picture. The figure for proposed production [originally 17500 for phase 1]
increasing to 50 would seem to imply much greater capex on machinery/infrastructure and to
achieve this output, I understand a second plant would be needed. All positive imv for kdnc.

As for Greenland, another question from me for AGM. Have we renewed licence?--need reassurance.

Thank you for your comments. Re Amapa, the iron ore price is currently circa $90 whereas the
price was $96 at time of RNS. I will be asking if further DD has been done to assess viability on
the assumption price will remain subdued.
I do not expect a result of Sao Paolo court hearing re bankruptcy very soon.
Just hope a binding Head of Terms has not been signed---another question.

@Barksy The Lithium futures contract will be the one that really matters.

Will enable a dfs to have a reliable benchmark price for financing.

As some will know, I am a holder of over 1% of present share cap.
Of course I am unhappy with the share performance and indeed
I am showing a large book loss.

However I cannot see how stopping an investment company having
the ability to raise additional capital, as opposed to loans [if they could
be achieved] would help, as it would not give the BOD any options on
future opportunities. The only alternative would be sales of investments.

Looking at the BOD's individual investments at the time of the latest placing
I would [rather cynically] expect there to be some attractive deals on the horizon.
Their holdings are now quite substantial, and shows confidence.

I will [subject to London Transport ] be attending the AGM [with proof of shareholding
for the doubters] and asking questions, some of which I will submit to the company
before the meeting.

@Bannor My apologies you have let me off very lightly!
I had not read the AGM resolutions before posting.

It is still my view, however, that Res 5 is more a safety valve than a certainty.

Many different assets are beginning to show value and sales will ensue.

@SOYO I can understand the concern to identify a reason why consolidation is necessary.

I do not see "approval to potentially dilute again by 50% within next 12 months" announced
anywhere in the recent RNS. Far from being a sensible sentence this is merely conjecture.

My view is that the consolidation gives the BOD options for the future and is simply
a prudent move to give room for manoeuvre. No requirement to need to consider any
capital raise at present.

Most are invested here on the prospect of one or more of the assets being realised for profit
thus obviating the need for a capital raise or further loans.

I consider that a real possibility in the next twelve months.

To put your mind at rest [and any others who want clarity] after consolidation the sp
will be multiplied by 100 i.e. at todays price it would be 8.75p

I am greatly puzzled by the reaction to the consolidation announcement.

The sp today simply does not reflect the future prospects of the company imv.

We are almost back to where the quoted investments [emh.bcn.etc] equate to the market cap,
that is ignoring all other investments held. Even on a fire sale we would surely exceed present mc.

With regard to Amapa project, from the RNS 21st May we entered into a non binding
Heads of Terms agreement. As there has been no announcement since, it would be
right to assume that is the present situation. In other words we can walk away if the
eventual terms are unattractive.
The $2.5m is in escrow i.e. we have showed good faith in confirming the money is available,
should we wish to proceed after the bankruptcy hearing [re Amapa] in San Paolo.
If we choose not to proceed that is returned.

I would hope no firm binding agreement is signed before the AGM. Many shareholders including
myself would wish to hear more about the viability of the project, as the price of iron ore [although
peaking at $123 in July] has fallen from $95 in May when the deal was announced to $90 today.

@JollyJapesJonty I will respond to you once more, and never again.

I have never made a personal attack on you or anyone else on this bb.
You clearly have no respect for others and continue to post incorrect comments.

I do hope you find contentment in the future as you are obviously troubled at present.

With best wishes.

@JollyJapesJonty Totally wrong yet again. I did attend AGM last year as both Degsie
and FrankieH would confirm. No doubt you will say we are all the
same person, which is your usual incredible defence.

You may call me all names you wish, I am not offended, but I will thank
you to have the courtesy to respect my integrity.

Look forward to meeting you at the AGM --you did say you would attend.

courtesy to respect my integrity

@JollyJapesJonty I have to say your comment that you judge my posts
"sycophantic drivel" I find quite disingenuous. Clearly you think
otherwise but I strive to make my comments both practical and
generally informative.

You also stated "first person I recognise at the AGM as being
a genuine person on here I will buy a pint"
Well your chance will come as I shall attend with proof of my
shareholding and I/D. I would personally welcome a face to face
meeting as I do not seek confrontation.
If you fail to turn up [as I would expect] I trust you would not deny
me the right to refer to that sarcastic comment for evermore on this bb.

@FrankieH et alia I do not expect a change of date for AGM.
If I have a reply it will probably quote some LSE or AIM
rule which would prohibit a change.

To clarify: the nominal value [i.e.share capital] of each kdnc share is 0.01p

After consolidation this will be 1p per share.

Total of share capital will be unchanged.

Total share capital unchanged.