Member Info for Ivybush

Unfortunately this sp is dominated by algo trading. Not sure whether market cap really
justifies this as pi turnover is small. Still someone thinks it is!

@1invest I am with you re West Face. They acquired circa 8m shares at 14p from warrants.
Thus had £1.12m invested here. Even at present sp they are showing around 70% profit.

Bankers mentality would be to reduce risk even if the forward outlook is positive. To my mind
this is the reason for drift down in sp. Notwithstanding further sales, PI's like us have chance to
buy in to a great resource. As individual investors we have to decide what entry price is right.

Thanks for the info. Just confirms blatant price manipulation at force.
Of course, the banks are desperate to offload their paper gold derivatives prior to year end
cessation of LBMA contracts as per Basel3 regulations.
I guess the Central Banks of China/Russia etc would be happy to buy at present POG.

The reaction by gold price to US employment figures was exacerbated by the need for bullion
banks and others to bring down price to unwind paper gold sales as a result of Basel 3.
Stay focused on FED QE and inflation outlook in next 6 months as positive for gold.

@Degsie charge of £100 seems extortionate to me. No charge by Halifax but I found out that
they required 48hrs notice.
With other shareholdings I have, on last two AGM's, the companies merely asked for e-mail address
to register and were happy to answer all questions on the day without notice.
Kdnc not so open on this occasion

But surely the liability to the banks, as creditors, is finite and not a percentage of value.

Judging by the various interpretations of the stockpile value/ownership/location expressed by
knowledgeable posters, we do seem to be in a position of obfuscation.

Clearly this has ramification for value of kdnc [eventual/imminent?] 20/27% of Amapa.
BOD should update present position as they understand it otherwise sp will continue to languish
on uncertainty.

@MBW my apologies, having read through the notice on Cadence website I find the
arrangements for last January AGM were similar.
Clearly a senile moment.

@MBW just for the record I have re-read the notice [last Dec] for the AGM held early Jan.

This makes no mention of any I/D pin number needed to listen in.
I cannot recall having to obtain these which is why I used the word "circumspect".

@MikeBWell Yes I did listen in to AGM last Dec.
I have also registered proxy votes for today.

For a few years I have attended past AGM's in person----have you?

I appreciate that one has to approach the broker for the I/D and Pin No.
What my broker {Halifax] said is that they need 48hrs notice to obtain this information.

My concern is that the AGM circular made no reference to any notice period.
I wonder how many others are now blocked.

Notice of AGM asks us to log on with Investor ID and pin number, neither of which we receive as we are
not direct shareholders. Any thoughts how to gain access to the meeting?

For other shareholders meetings all I have to do is register with e-mail address.

Are BOD being circumspect on this occasion?

@Titam welcome from me also to this bb. I notice your intention to take a "decent position".

Recent short term downward trend of sp has been suggested to be the result of
West Face feeding the market with sales from recent purchase of over 8m shares at 14p
from exercising warrants. This has not been confirmed but it could be a reason for the
poor performance and maybe a future drag on sp.
If you have read through recent rns announcements then I assume you have taken into
account this possibility.

West Face have acquired 8million+ shares at 14p by converting warrants early.

They are very likely to de-risk imv to give 80/90% profit on sales at present sp.

Now that all covid restrictions have been relaxed, is there still any reason why investors
should not be able to attend 4th August AGM in person?

@MBW Salaries/Fees 31st Dec 2019 £418k

Salaries/Fees/Bonus 31st Dec 2020 £563.33k

Page 31 of Accounts submitted to Companies House.

I notice from the Final Accounts for 2020 that the Directors took bonuses totalling £180k.

It was also stated that a condition of these bonus payments was that the net proceeds were
invested in kdnc shares during an open period.

@MBW I received this morning proxy forms [from Halifax] for voting on AGM resolutions.

Maybe your broker can supply on request.

West Face were given the option to convert warrants at discount from 20p to 14p if done before
31st Dec 21. My question is why would they convert 6 months early?
Maybe some forward selling has taken place--a profit of 100%+ is always attractive.

With hindsight it is clear that legal procedures would take time. Just trying to understand the legal
jargon of the conclusions is bad enough. There is a lot of money owing to creditors and I would expect
their legal teams to take care in a case involving a foreign jurisdiction.

My thanks to all contributors for their perseverance in this matter.