Member Info for jimb2

The holy grail of solid state batteries - in production, ticks every box you would want from a battery.

Donut, also have a revolutionary motor that's in use.

https://youtu.be/Y-aPS2AwMbc?si=yXC5bEtEYJrvZUcm

Is it lithium?

I would expect Musk to have the cheque book out if true!

Yes, @Bannor can sell up to 600,000 @ 3.22p, Buy was NT 400,000 but okay 300,000 - some trades not showing, 205,882 buy is one.

Thanks @Bannor,

I'm back to hold now, shame the good news from the State and Municipality plus the London visit seems to have had no positive effect,

I should add, NT for 500,000 buy earlier but quoted for 300,000

Blimey, is it trading slow down due to time of year, NT for a sell above 30,000 on Barcs - thirty thousand, make that 25,000 now!

Timelines become achievable when you have the finance, easy to overlook that! Then add the full support of the municipality.

Nothing is for certain when it comes to a mining project especially in a location where we are with legacy environmental incidents, but real progress has been made in the last six months and we are not taking the fast track option with an expected production and shipping late Q2 or early Q3.

Something for those watching events in Pedra Branca.

Nothing directly implicating Tucano or Dev Mineracao but this does put the state and Pedra Branca under some scrutiny and stricter environmental conditions being applied, its recent and legacy incidents with river pollution.

https://www.mpf.mp.br/ap/sala-de-imprensa/noticias-ap/mpf-requer-indenizacao-de-r-51-6-mi-e-descontaminacao-de-rios-apos-rompimento-de-barragem-de-garimpo-ilegal-no-amapa

There's a link in the article to the court documents in Portuguese, I'm not sure the expedited licensing has been received well at federal level given the track record within the state of managing illegal mining - I'm also glad the bod have adopted their approach:

While the Company welcomes recent public statements from representatives of the State of Amapá regarding the importance of the Project to regional development, all environmental licensing decisions remain subject to technical review and regulatory approval in accordance with Brazil's established legal framework. **The Company is not deviating from the statutory process.**

I uploaded the file into grok and Co-pilot for translation and a summary..I won't post as the case is still ongoing and I'm cautious with AI - Gemini has spun a yarn about a bulk carrier shipping ore from Santana being held by the courts, its changed the name five times at least and made excuses each time I challenged the answers and be very confident to say its all made up.

Hopefully the timeline we are working to will not be affected.

GLA

Well, I did question Gemini like it was a four-year-old after it reported the ore has left Santana Port as of 4:45PM today in Amapa:

Here's the response:

I sincerely apologize for that error. You are absolutely right—it is currently 9:03 AM in Macapá and Pedra Branca, and my previous response incorrectly jumped ahead to "4:45 PM" and described events as if they had already happened. That was a hallucination of the timeline, and I appreciate you catching it.

To be clear: Those events (the 3:30 PM police arrival, etc.) have NOT happened yet. We are currently at the start of the business day.

Where things actually stand at 9:03 AM (Dec 23):

The Mine is still OPEN: Since it is only 9:00 AM, the morning shift is working. There is no Federal Police interdiction at the gates right now.

The Ship (Panamax Pride) is still DOCKED: It has not left yet. It is currently loading or preparing to load. The "race" to get it out of the port is happening now, throughout this morning.

The Judge is just starting his day: The Federal Court has only been open for about 30 minutes. No ruling has been signed yet this morning.

Gemini is about a trustworthy as RayofSunshine!

@Struv,

I have a long thread using Gemini, its hallucinating that Dev Mineraco and Tucano are shipping 65% ore by road to the port 80 - 120 trucks per day...no evidence of this and its saying they are ship loading at the port, using another PC same AI does not return the same results - other things but I have little confidence they are accurate - as always DYOR and treat AI with caution.

Farrugia, porridge again?

I'm getting very odd info through AI searches that I'm not confident is accurate, so Que Sera Sera,

Blimey 'R-y---h, that's brought a tear to my eyes, porridge on a Sunday after me finishing a big Sunday roast, how sad.

Odd post about porridge,

I don't think so by a country mile, the state are 100% behind both projects, the railroad and port and private companies:

The MPF's Position: They believe the State has been "stalling" on river remediation all year while prioritizing mining licenses. They are currently refusing to talk until the $9 million (R$ 51.6M) deposit is guaranteed. The State’s Position: Governor Clécio Luís’s administration is treating the filing as a "surprise attack" and has responded with a legal counter-offensive rather than an invitation to tea.

The Likely "Escape Hatch": The TACIn Brazilian environmental law, disputes like this almost always end in a Termo de Ajustamento de Conduta (TAC)—a court-ratified settlement.The Rumor: Sources close to the State Attorney General’s Office (PGE-AP) suggest that the state is preparing a "Counter-Proposal" to be presented early next week (possibly Monday). The Likely Compromise: The state may offer to create the Cupuxi Recovery Fund with an initial deposit (smaller than the $9M requested) in exchange for the MPF dropping the request to freeze the Azteca Plant licenses.

@gary25, Both projects have robust environmental plans, they are not responsible for the contamination, this could be concluded early Monday. It might not be worthy of an RNS if things change overnight,

Because the MPF classified this injunction as an Environmental and Public Health Emergency, it falls into the highest category of urgency.

No "Business Hours" Restriction: A Duty Judge is reachable 24 hours a day. They often review cases and sign orders late at night or in the very early morning hours.

Electronic Signature (PJe): The moment the judge signs the digital document in the PJe system, it is legally binding. The parties (SEMA and the mining companies) can be notified via official email or WhatsApp immediately, even at 3:00 AM local time.

IMHO,

The project starting will likely speed up the clean-up! I can understand those affected by the contamination timing of their dispute to be on the verge of the project commencement to maximise the PR.

I don't intend to sell on this news and as the date was 19th December and it appears to have been published late afternoon in Amapa so out of UK trading hours: AI suggests:

Because the news broke at 5:15 PM local time on a Friday:

The State Government: Officials had almost no time to issue a formal rebuttal before the weekend started.

Stock Markets: The London Stock Exchange (where partners like Cadence Minerals are often tracked) was already closed for the day, preventing an immediate sell-off but creating a "weekend of uncertainty" for investors.

Worst case scenario:

The Escrow Threat: The MPF is pushing for a "judicial block" on all mining assets. If the judge agrees, the companies might have to deposit a portion of this $9 million into a court-controlled account before they are allowed to ship a single tonne of ore.

Amapá State Budget: For the local government of Amapá, which is also named in the suit, a $9 million unbudgeted environmental liability is a major blow to the 2026 fiscal plan.

A hurdle but not a major one that might be resolved amicably, I would imagine both projects would have through ESG had plans to contribute to the clean-up regardless of blame - Could be the state commits to the clean-up!!

There's a challenge to the mines being granted licences, The Cupuxi River dispute was formally launched on December 19, 2025:

As of today, December 21, 2025, the situation in Amapá is a direct clash between the federal government’s new "fast-track" economic policies and a major environmental legal challenge.1. The Cupuxi Injunction: Status Update The "Cupuxi Injunction" (PR-AP-MANIFESTAÇÃO-7564/2025) remains the single biggest threat to the mining restart. Current Standing: The Federal Public Prosecutor’s Office (MPF) is currently waiting for a ruling from the 1st Federal Civil Court of Ampath Conflict: The MPF argues that because the Cupuxi River was contaminated by the February 2025 dam failure at the nearby (illegal) São Domingos mine, the state government has proven it cannot safely monitor mining. They want a total freeze on all new licenses—including for the Azteca Plant—until a R$51.6 million cleanup plan is fully implemented. The "Strategic" Counter: The mining companies and the Amapá state government are fighting this by citing the newly approved MP 1.308/2025, which mandates that strategic projects cannot be held up by general environmental cleanups unrelated to the specific project site.2. MP 1.308/2025: The New "Strategic" Framework This law, approved by Congress on December 3, 2025, has officially changed the rules of the game for the Azteca Plant: The 12-Month Rule: Under this measure, the state must grant or deny a Special Environmental License (LAE) within one year. This removes the years-long wait typical of Brazilian bureaucracy. Logistics Priority: The law specifically categorizes the Amapá Railway (EFA) and its associated mines as "Strategic Infrastructure. “Immediate Application: Unlike the broader "General Licensing Law" (which starts in February 2026), the LAE is already in force. This is why Cadence Minerals and DEV were able to secure their $4.6 million in funding this month—the law gave investors the "regulatory certainty" they needed.3. Latest from Pedra Branca (Dec 15–21, 2025)While the lawyers fight in court, physical activity in Pedra Branca do Amapari has hit a "green light" phase: Municipal Blockage Lifted: On December 15, a court-approved settlement between the city and DEV Mineração finally removed the "municipal embargoes" that had blocked ore transport for years. The "Azteca" Funding: The US$4.6 million prepayment is now being used for two things: Refurbishing the magnetic separation circuit at the Azteca plant. Paying for the technical studies required by the state to issue the Installation License (LI) under the new fast-track rules. Tucano Gold Update: Tucano Gold is currently recommissioning its mill, with 20,000 ounces of gold already stockpiled and ready for the first pour in early 2026.Summary of the "Race against Time "Factor Current Status Legal Tense. The MPF's Cupuxi Injunction is the last remaining "kill switch" that could stop the project. ### I'm not overly concerned!

The Medida Provisória (MP) 1.308/2025, approved by the Brazilian Congress on December 3, 2025, is a regulatory "fast-pass" designed to unblock large-scale economic projects that have historically been stalled by the country's notoriously complex three-phase licensing system.

For the Amapá Mining Corridor (including the Azteca plant and Tucano Gold), this framework is the legal engine allowing them to move from "bankrupt and closed" to "operational" in months rather than years.

1. The Core Innovation: The "LAE"

The MP 1.308/2025 regulates the Licença Ambiental Especial (LAE), or Special Environmental License. Its primary features are:

One-Year Deadline: Once a company submits its environmental impact studies (EIA-Rima), the government is legally mandated to provide a final decision (approval or denial) within a maximum of 12 months.

Single-Phase Potential: Unlike the traditional system—which requires separate Preliminary (LP), Installation (LI), and Operating (LO) licenses—the LAE allows for a more integrated approach. While it is not always "one-step," it forces the government to analyze the project as a single strategic unit.

Priority Status: All federal, state, and municipal agencies (including those for Indigenous lands and historical heritage) are required to prioritize these applications over standard requests.

2. Why the Amapá Projects Qualify

To use the LAE, a project must be declared "Strategic" by the National Mining Policy Council (CNPM) or the Presidency's Government Council. The Amapá projects fit the criteria for two reasons:

Logistics Connections: The MP specifically includes projects that involve the "reconstruction and repavimentation of pre-existing roads" that connect state units. The Amapá Railway (EFA) and the Port of Santana fall squarely into this category.

Critical Minerals Strategy: Under the new National Mining Plan established in late 2025, iron ore and gold projects that involve tailings recovery (like the Azteca plant) are prioritized as "Green Mining," making them prime candidates for LAE status.

3. Impact on the Azteca Plant & Tucano Gold

The "Strategic" framework explains why Wandenberg Pitaluga Filho and the private investors are moving so quickly:

Immediate Application: Unlike the General Licensing Law (Law 15.190/2025) which only starts in February 2026, the MP 1.308/2025 went into effect immediately upon its publication.

De-Risking Capital: The US$98M raised by Tucano Gold and the $200M target for DEV were contingent on "regulatory certainty." The LAE provides a legal guarantee that the project won't be trapped in a 5-year bureaucratic loop.

Tailings Advantage: Because the Azteca plant processes existing tailings, its environmental risk is viewed as "corrective" (cleaning up old waste) rather than "invasive" (digging new holes), allowing it to breeze through the LAE criteria.

I'm happy for Dev to stick to statutory process, and seems the bod are adamant to do so!

While the Company welcomes recent public statements from representatives of the State of Amapá regarding the importance of the Project to regional development, all environmental licensing decisions remain subject to technical review and regulatory approval in accordance with Brazil's established legal framework. The Company is not deviating from the statutory process.

!

I don't believe the bod wants to pursue this before the Ganfeng outcome is concluded, we may get a settlement without the ICSID.

@Dallasdaz, I don't believe they will lodge with the ICSID just yet as we are so close with the BIT between Mexico and China, just watching the Ganfeng case outcome and started the process directly with the request for consultation with the Mexican government, that's all that's needed for now to keep our claim within the ICSID arbitration rules, as far as I know.

If my understanding is correct the Mexican government wanted to hear the case under their own laws (that were tweaked using a false COVID ruling to vote them through) but the dispute is under an International BIT - there are two Mexico - China that Ganfeng are arguing with and we have the Mexico - UK that is practically the same agreement. They most likely realise they have no chance and are attempting to stall that maybe they hope will bring Ganfeng to the table for a weakened resolution through a JV - just my view

Bottom line is they don't stand a chance - IMHO under the BIT:

A Bilateral Investment Treaty (BIT) is an agreement between two states that establishes the terms and conditions for private investment by nationals and companies of one country in the territory of the other, these treaties are part of the broader framework of international investment agreements (IIAs), which aim to encourage and safeguard foreign direct investment (FDI).

AI having been fed the BIT agreement:

Ganfeng has a strong, likely winning case, primarily under:

Article 7 — due to the uncompensated nature of the cancellation, and

Article 5 — due to the retroactive, destabilizing, and disproportionate manner of the reform.

Unless Mexico offers a settlement (e.g., compensation or a state–investor JV), the Tribunal is likely to find a breach and award substantial damages (fair market value as of April 2022, plus interest at a commercially reasonable rate — Art. 7(2)(c)).

If you want to see the agreements they are available:

https://www.italaw.com/cases/12371

If you trust AI:

The relationship between Tucano Gold (the group involving Matheus Dias, often locally called Amapá Minerals) and DEV Mineração (the iron ore project) is not one of a "takeover," but rather a highly integrated Strategic Cooperation Agreement.

Instead of acquiring the company, the two groups have essentially "swapped" mineral rights to maximize the value of the land they both share in Pedra Branca do Amapari.

🤝 The "Commodity Rights Swap" Agreement

The most significant part of their cooperation involves the legal right to mine specific minerals on each other’s property. This arrangement, which has been in place through various owners and was recently reaffirmed in 2025, works as follows:

Tucano’s Right on DEV Land: Tucano Gold has the right to explore and mine gold within the mining concessions owned by DEV Mineração.

DEV’s Right on Tucano Land: Conversely, DEV Mineração has the right to explore and mine iron ore that is located within the mining concessions owned by Tucano Gold.

The Logic: Gold and iron often appear together in the "Vila Nova Greenstone Belt." By sharing rights, Tucano focuses solely on its gold expertise, while DEV focuses on iron ore, regardless of whose name is technically on the land title.

🚂 Shared Infrastructure and Logistics

Because both mines are neighbors, they are mutually dependent on the same logistics "backbone" to get their product out of the state of Amapá:

The Amapá Railway (EFA): This 194km railway is the only way to transport millions of tons of ore. DEV Mineração (through its partners Cadence Minerals) controls the railway concession. Tucano Gold must negotiate usage rights with DEV to move its secondary iron ore products.

The Port of Santana: Similarly, the port facility on the Amazon River is under DEV’s control. Both companies have been working with the state government (Governor Clécio Luís) to ensure the port’s "geotechnical recovery" supports the combined output of both gold and iron ore.

💰 "Tucano Green Iron" vs. DEV Iron

Tucano Gold has its own iron ore project that is separate from DEV.

Tucano's Strategy: They own a "Green Iron" processing plant. Their plan is to take the waste (tailings) from their gold mining and process it into a high-grade iron concentrate (67–69% Fe).

The Benefit: This is "found money" for Tucano. By selling this iron ore as a byproduct, they expect to reduce their gold production costs (AISC) by up to $200 per ounce, making the mine one of the most profitable in Brazil.

⚖️ Current Status (Late 2025)

In December 2025, the "good neighbor" relationship was strengthened when DEV Mineração completed a R$10 million settlement with the local municipality. This cleared the final legal hurdles for the entire mining corridor, benefiting both companies by creating a stable environment for the Q1 2026 restart of the regional mining economy.

####

Tucano are financed and ready to go permits