Member Info for news

Movement.
6.4p to sell and 6.7p to buy [Advertised price, NOT live]
To sell is much more.
Earlier it was 6.30p to sell.
Fri, 9 Apr 2021 @9:36am

DAY AFTER KDNC INVESTORS Q & A ON VOX.
Today, Thur, 8 Apr 2021, the share price of Cadence Minerals has fallen 12.5% to 26p to sell and 26.5p to buy [advertised price, NOT live price]. Yesterday, Wed 7 Apr 2021 @5.30pm, there was a live Q & A as said.

Hope that KDNC can give further clarity to all the points that are needed by the market to determine the direction ie evaluation. Also, how much will the Amapa project need to re-start the mine post shipping stockpile period.

Thur, 8 Apr 2021.

"Build or Buy: Are the Copper MAJORS rising to the copper challenge?"-Wood Mackenzie, 6 Apr 2021 by Senior Vice President & Vice Chair, Metals and Mining.

"Question: Can the TOP producers arrest a DECLINE in output with organic development? Or is it time to BUY growth?

HEADER: G R A D E DECLINE & DEPLETIONS: A NEVER ENDING STORY.

HEADER: IS THERE A SHORTAGE OF COPPER PROJECTS?
The 17Mt of IDENTIFIED projects available to be greenlighted may seem enough to meet demand. MANY ARE IN R I S K Y JURISDICTIONS, with complicated geology and construction with ever-more stringent ESG ...and lower than ideal irr."

"MAJORS, who tend to prefer the RICHER-PICKINGS OF LOW-RISK JURISDICTIONS and LONG LIFE PROJECTS."

"The BIG 13 copper MAJORS output will decline to 7Mt/a or LESS than 25% OF OUTPUT."

"As DEMAND RISES INEXORBLY and ABSENT project development, SHORTAGES INCREASE AND PRICES C O N T I N U E TO RISE."

"Should the MAJORS buy their way out of trouble?"

Etc - details in the article
https://twitter.com/METhompson72/status/1379842436713840640
----
My Comment:
One poster was telling us about projects everywhere-the above tells one that majors are not keen on risky jurisdictions.

At XTR Racecourse, it is considered a TIER 1 JURISDICTION and in a mining area in the Lachlan Fold, NSW, Australia.

From the main KDNC forum:
1] KDNC will remain an investment co.
2] Amapa value is $600m.
3] KDNC can take the stake to 49% of Amapa -think they have to sell assets?
4] Sold on LIVE cost basis - 1st shipment out.
5] Profitable
6] Dividend
7] AA invested $1bn ?
---
My comment:
So, the above is as known - Kiran Mozaria would not give forward guidance as to
GROSS profit, NET profit %*s or IRON ORE PRICE for the next 24 mths of shipping, 24 mths of prep time or the next 14 years of mining. He would not be drawn on definitives of profitablity as he would have to get %*s as above.

Mr Mozaria was asked about £5-£10 share price for KDNC as postulated but he would NOT answer nor back-up this postulation nor the NPV of $3bn as postulated for Amapa.

So, yup, a good interview as everything got covered.

Wed, 7 Apr 2021.

@Observer842 et al

FOR THE AVOIDANCE OF DOUBT:
Today, Kiran Mozaria will answer Questions on Vox Webnair for those registered. From what I understand from the main forum, the session could last 1 and 1/2 hrs.

Since NO ONE said they registered for the above, I am not sure if folks are not interested or ?

In real life, one works at X or Y and therefore, our social media user names may not be known but in reality, it can be known by the hosting site.

So, whether real life or not, one would practice the same criteria.

Whilst many forecasts have been made, it does NOT mean that the MM*S WILL FOLLOW UP WITH THESE and accordingly MARK THE SHARES UP.

EVIDENCE? One can see that for a long number of years, the share price of Cadence had gone nowhere but south due to the negative sentiment alone ie 5p or slightly less?

So, I think that to be able to EVALUATE A REAL SHARE PRICE IS IMPORTANT both PROFESSIONALLY and even on share forums.

As such, it provide a FAIR VALUATION and this must EVENTUALLY EVENTUATE IN THE REAL SHARE PRICE.

The X report cited REM*s share price to be £5+ when it was 2.25p [Mkt Cap £95m] at its height.
Unfortunately, the share price NEVER went further than 2.25p in old money.

So, given that today Mr Mozaria will or may talk about Amapa, it would be helpful to all if he gave some enlightenment.

After all, we shareholders want an honest, open and value with integrity rather than
what one may dream about that may NOT eventuate?

I trust this explains matters ie that all genuine shareholders of KDNC, past REM*ers will want to know fair value as presented by the co.

So, everyone should be ALL IN 1 CAMP ie to know fair value per KDNC*s Answers today.

News, 7 Apr 2021 [Wed]

Since no one is interested to post on this forum anymore on FAIR VALUE for KDNC except for forecasts by folks, I have put it to KDNC today PRIOR to the KDNC Webnair [Vox] at 5.30pm, Wed 7 Apr 2021.

That way, the co can respond and confirm or NOT folks forecasts.

Wed, 7 Apr 2021.

Today*s Vox Webnair will settle ALL forecasts for Amapa:
1]£ 5 - £10 share price } NOT MY FORECASTS
2] Other forecasts. } " "

Currently, the share price of KDNC is 29p to sell and 30.5p to buy [advertised price] with a MKT CAP OF £44.13 MILLION. KDNC holds some 10%+ of EMH whilst the Macarthur Minerals stake is very tiny - this forms the mark-to-market portfolio that is available to sell if the co wishes to do so if it needs fund.

EMH*s share price is 85p to sell and 88p to buy with a MKT CAP OF £151.27 MILLION.

On another KDNC FORUM ONE POSTER WANTS TO KNOW THE VALUE OF KDNC.
Obviously, people want to know the fair value.
In my view, some basic updated data is needed before one can make even a rough estimate. The Q & Answer session by Mr Mozaria, CEO of KDNC today at 5.30pm should be able to answer the questions and provide clarity.

Wed, 7 Apr 2021.

Mason copper project in Nevada has just released a PEA [Preliminary Economic Assessment].
"The plan includes 1.1 BILLION TONNES @ 0 . 3 4 % COPPER EQUIVALENT {98% from measured and indicated]. Estimate is 2billion tonnes which is TWICE the size of their Constantia & Rosemont deposits and is 1 of the LARGEST GREENFIELD IN AMERICAS."

"Mkt cap of co C$2.6 billion." - Mining Weekly, 3 hrs ago, Wed, 7 Apr 2021.

["Mason*s PEA suggests Hudbay could double copper output."]

My comment:
Mind you, the article stated that they are working on $3.1/lb although currently copper is around the $4/lb mark from the last time I checked.

The above is to illustrate the CURRENT GRADE for large tonnage projects of 1.1 Billion.
AA requires 440M tonnes or 2Mt of contained copper.

Hole 1 at XTR*s Racecourse came in at 0. 3 3 % cu equivalent.
Racecourse JORC 71Mt @ 0. 4 4% cu and 0.064 g/t au.

Shows that current exploration of large projects as above. XTR Executive Chairman cites BODA which Edison in their latest 8.12.20 broker report cites 500Mt to 2.2Billion @ 0. 2 8 g/t au gold to 0. 3 5 g/t au gold. BODA is in the Lachlan Fold, NSW, Australia as where XTR*s Racecourse is situated.

ATTRIBUTION AND THANKS TO COUNT OF MONTE CRISTO for his mention of the latest PEA from Mason project in Nevada, USA.

Wed, 7 Apr 2021.

P.S.

16] Whilst forward guidance cannot be given as understood, nevertheless, industry norms can be cited.

So, the GROSS MARGIN, NET MARGIN also is important for Brazilian ore co*s.

The MM*s will also be doing their assumptions etc based on the information provided as in the past. It is said that Kiran Mozaria, CEO of KDNC spoke to the MM*s relating to the co*s investments and accordingly, the MM*s have provided some value to the other investments as well rather than just mark-to-market as in the past.

So, folks may have their back-of-envelope cals but MM*s & the Market does not appear to take in these but rather on industry norms and figures etc.

Hope that provides clarity.

Wed, 7 Apr 2021.

Yes, Roci, when assay results are in, the model can be revisted.

As an earlier poster said, the share price will accordingly react as norm?

So, seasoned mining investors will have an idea accordingly from experience, hence will be ahead of the curve as is also norm.

One can do for oneself, a SENSITIVITY ANALYSIS.

LoL - will be an interesting exercise.

Wed, 7 Apr 2021.

The above will be held today and only to those registered can ask questions from Kiran Mozaria, CEO, Cadence Minerals Plc. From what I understand from the Founder, it will be about AMAPA IRON ORE PROJECT, BRAZIL.

DISCUSSION ON THIS FORUM:
1] Shipping as now advised by the latest info from Mr Mozaria is 24 mths.
Then, 24 mths also for prep work for resuming production. So, that is answered ie not 18 mths re: prior info from recall?

2] Iron Ore price is currently US$170.90 per tonne for 62% Fe according to Benchmark [CFR Qiandao]. https://www.mining.com/iron-ore-price-abov-170-on-robust-chinese-demand/
So, not $200/t as cited on Twitter earlier.

3] $600m Amapa value as mentioned by Kiran Mozaria, CEO, KDNC. Alan Green said that a recent valuation for Amapa was done?

4] No NPV figure cited by Mr Mozaria.

5] Cost? Is it $30/t USD or ?

6] Mine life is 14 years per old info.
So, what will be the longer term iron ore price ie MEAN?

7] 49% potential ownership. How much will it cost for 20%-27% and then 49% ie to reach 49% if so?

8] Who will be the operator of Amapa given Sino, the JV partner has more share in % terms?

9] Will KDNC change operating status to operating co from investment co?
This may affect IHT rules ie positive if operating co?

10] What is the P/E for iron ore co*s operating in Brazil but London-listed?

11] Will the sale of stockpile cover the entirety of the project development?
Per Mr Mozaria*s latest interview, he mentioned D?

12] What is the Brazilian tax rate as EBITDA has to take off tax etc BEFORE it can be paid out to KDNC?

13] What will the JV RETAIN in terms of revenue, EBITDA or post tax $$$ for operational use etc?

14] Does KDNC intend to pay dividends like other iron ore co*s?

15] What are the other projects ie LITHIUM that KDNC will be involved in? SONORA & Litchfield?
How will this sit with Amapa in terms of development?

So, every investor will want to know the skeleton of what is going forward as this will EVENTUATE in EBITDA etc. rather than guesswork?

Hopefully, all will be answered today.

All analysts and the market will want to know in order to assess value/mkt cap going forward?

In the past, KDNC was valued/mkt cap on MARK-TO-MARKET ON ITS INVESTMENTS by the MM*s.
So, now the picture has to be made clear and the market will accordingly evaluate as norm.

Wed, 7 Apr 2021.
DYOR. Kindly check for self.

Sq52

LoL - Thanks. Well phrased from a seasoned mining investor ie "paying a pretty penny."

In fact, I think that over the course of X period, once all the assay results come in for 6 holes, the modelling should be completed to have a estimate at least.

However, I do think that the JORC Racecourse results of 71Mt @0.44% cu copper & 0.064 g/t au gold may have to be incorporated to the final tally?

Thank you to everyone inc CE for their thoughts on this matter which I raised for discussion.

Wed, 7 Apr 2021.

Stevemocal

LoL. I was wondering myself. Thanks.

Wed,7 Apr 2021

@Shorn
Thank you for your comment and link.

EARLY PRE-DRILL & DRILL
One is aware that the previous owners of Racecourse never went further than 300m from what I read.

So, with Colin Bird, Executive Chairman, XTR stating that Racecourse will drill "like good ole days of Solgold" to 800m+, this meant a further 500m+ TO TEST for mineralisation.

With 1,000m STRIKE now tested, 1,000m DEPTH tested and possibly 1,000m width thus ending Phase 1 @Hole 6, the PICTURE IS NOW CLEARER and to some extent DE-RISKED given XTR*s OBJECTIVE of 800m+ DEPTH has been achieved and by extension the strike??

If I am not mistaken, Phase 1 was originally for 3 holes and Phase 2 , 6 holes per the old RNS.
Therefore, 9 holes would have tested the whole 1,000m strike? So, to me, at least, it is possible that XTR has done the 1,000m STRIKE, 1000m DEPTH x ? width TESTING IN 6 HOLES?
This is NOT crucial by the way but merely my observation only given I am talking about
the original testing for 1,000M DEPTH? So, appears that drilling was done effectively ie 6 holes?

PHASE 2-RACECOURSE
If I understand correctly, then Phase 2 will TEST FURTHER THE STRIKE LENGTH POSSIBLY TO 1,500M [from Straits Resources info] but that will be dependent on the XTR NEW GEOPHYSICS.

ASSAYS
Once all the assays have come in from 6 Holes at Racecourse under XTR*s drilling, I would think that a basic idea of resource could be ascertained? Certainly, modelling would provide further elucidation.

WHERE IS EVERYONE?
Yesterday*s RNS re: Hole 6 ending Phase 1 was a PIVOTAL MOMENT for XTR.
Hence, I asked where was everyone given this rather historic moment.
The market looks ahead and one can postulate the potential grades as they are always within a range but of course SUBJECT to assay results. For the seasoned investor, they do try to pen down their own estimates for their private research as it is educational for the future?

However, one has to await ASSAY RESULTS via RNS as it cannot be guess work.

Open for discussion given the above is just my idea and observation only.

Wed, 7 Apr 2021

XTR*s RNS yesterday, Tues, 6 April 2021 informed that Hole 6 had ended [Phase 1].
Phase 2 will start when geophysics is completed with 1 wk of work.

We, shareholders are informed that the STRIKE of Racecourse, Lachlan Fold, NSW, Australia is 1,000 m x 1,000 m depth and so forth.

Already the JORC of 71Mt @0.44% cu & 0.064 g/t gold.

Hole 1 assays @0.33% cu eq.

BODA
Strike gone from 500m to 1,000m. Last I understand the BODA strike has gone to 1,100m
Grade per Edison : average 0.28g/t au gold to 0.35 g/t au gold.
Size: Roughly 500Mt+ to 2.2Bt from recall of the 8.12.20 note.

AA
requires 2Mt.

PHASE 2
Straits Resources that owned Racecourse before selling to Tooday in 2007 said the STRIKE was 1,500m from recall?

So, possibly 500m more to go IF Geophysics supports this length?

From other co*s drilling, one observes that drilling can be 150m or 200m.
So, 500m t e s t drill [initial] should not take too long?

A MILESTONE HAS BEEN REACHED WITH 1,000m. Folks have discussed SIZE already as said on this forum and another XTR forum + Twitter.

Wed, 7 Apr 2021

XTR RNS 2 Dec 2021.
Racecourse Phase 1 - 3 holes {
"Providing encouraging results Phase 2 - 6 holes {3,995m]."
Upon completion of Phase 1 & 2, JORC will be updated.
------
My Comment:
So, now Phase 1 went to 6 Holes and ended.
Now, Geophysics - 4 week with 1 wk gone.
So, the original was for Phase 1 & 2 = 9 holes.

Thanks - That was my perception of what was being said today by Colin Bird, Executive Chairman, XTR Racecourse.

Hence, why Mr Bird mentioned "DISTRICT - Not isolated" in his interview today, Tues, 6 Apr 2021 post RNS: End of Phase 1, Hole 6.

It would appear that some mis-read the RNS without further input from Mr Bird in the interview. Also, all cals on the other XTR forum, Twitter and on this forum appear to show that we may already hit the 2Mt? I have seen all the cals from 3 social media forums on XTR*s RNS today.

Of course, open to more discussion.

Oh, maybe Mr John Cornford, Mining Analyst, Master Investors may also have a write-up as Phase 1 Racecourse drilling has ended.

Tues, 6 Apr 2021 @7pm

From Twitter, cyberiachas on this forum and on the other XTR forum, the idea is that 2Mt may have been hit via various cals.

Mr Colin Bird* interview today, Tues, 6 April 2021 [End of Phase 1]:

LARGE OPEN PIT
LOOK FOR MORE AND MORE
Magical 2Mt-Several other porphyries/
Open ended.
Further within the core {high grade}
----
My comment:
It does look as if once at 2Mt target, XTR will continue to DRILL FOR MORE AND MORE - "SHAREHOLDERS IN A GOOD PLACE."

So, appears our question earlier is now answered ie NOT STOPPING?

Open for comments and discussion.

Thanks about iceberg-wrong account without the word "the"

PHASE 2 was supposed to be in July 2021 per earlier.
Now, Phase 1 has ended at Hole 6.
It was also said sometime ago, that if Phase 1 is successful, then the co goes onto Phase 2.
So, it is positive that Phase 1 has ended.

GEOPHYSICS
It is already 1 week into the Geophysics out of 4 weeks per today*s Colin Bird interview.

Tues, 6 Apr 2021.

I noticed that Iceberg has NOT posted or commented on the last 2 RNS*s and Interviews.
I checked up Members and found that ALL Iceberg*s post have been DELETED.
Anyone knows why?

jwoz
Thanks. I did not have the sound up LoL.

What was that all about? Colin Bird on sell next week kinda thing?