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"Extremely well supported capital raise by @ggp great to have Numis join SI Capital on the ticket...traders out, investors in. Greatland in great shape. Embedded article from Mining Journal with that title: Greatland in great shape."
https://twitter.com/priminvestments/status/1160926757865828353
@3:51pm, Mon 12 Aug 2019 [After RNS] from Primorus Investments who own 1% of GGP shares.

"

"Fortescue woes stir Anaconda memories."- 17.9.12, Sydney Morning Herald.
https://www.smh.com.au/business/fortescue-woes-stir-anaconda-memories-20120917-261r5.html

Quote:
"Anaconda: restructure debt, forced to sell shares to meet DEBT payment in 2007 after mine was DELAYED and COSTS blow out."

"He is pretty good, Twiggy, at convincing people from overseas to buy part of his dream."

"US bond holders who bet $400m on Anaconda, recouped 24c to the dollar after Forrest who built the co was ousted in 2001 as CEO. Anglo American fared worse, walking away with 7% of its $200m investment.."

"Anaconda shares SLUMPED 89% ahead of the co being re-badged as MINARA Resources. It was eventually TAKEN OVER BY GLENCORE last year."

The article also talks of SHORT INTEREST in Forestcue shares at 21.1% of FREE FLOAT...

"Fortescue has grown aggressively and clearly their assessment of potential downside scenario was TOO optimistic for iron ore and their FINANCIAL LEVERAGE would leave them exposed to such volatility."

"..the formidable ASSET BASE and supportive long-term economics of iron-ore, lenders will see it as a win win to grant some BREATHING SPACE by waiving 12 mths the maintence covenant around leverage."

Background:
Anaconda was a nickel project with capex around $1billion but from the Sydney Morning Herald article as above, it mentioned that Anaconda suffered from metallurgical issues. Anaconda was the 1st co set up by A.Forrest. The deposit appears to be a surface expression from checking another article.

Comment:
KDNC managed to get the recent note rolled over due to Amapa. From the story of Anaconda and Fortescue, one can see that it is not easy to meander a large deposit. Since Anaconda*s capex was $1b+, one will realise it is a big project.
Fortescue nearly went ...as I said and the above article is self-explanatory.

Same for the buyer of Amapa and the forecast for iron ore was too optimistic per the reports?

As for Twiggy, I liked the description.

So, its not so easy after all and no junior nor a mining co for that matter.
So, one for investors to ponder over prior to the KDNC AGM shortly.

Sun 11 Aug 2019
That concludes the story then, now and future.

well as Twiggy of FMG.

Now, it is harder to be the next FMG as I note there are no new FMG*s or the next Aussie major. Funding lies at the heart of it etc? It means that a junior explorer moves from shell mkt cap to one that mimics a major like Newcrest ie into billions? Anyone seen this on the London mkt? The only one is SXX if it can get the next $500m etc and provided the rest goes well? All these are citations of history.

From what I can gather of DL: he is able to review projects as he is approached to fund the initial drills etc. Since he has his ears to the ground, he gets to know who wants to sell or who is looking for initial funding eg BCN then.

I have looked at DL*s past co*s ie M & A and I have posted them recently. There were several and they are into double digit millions from recall.

From what I gather of the past, DL talked of lithium M & A since he was asked. I think the one he mentioned was for $450m in the lithium space. So, I gathered that he may have been willing to sell if he had taken over BCN? Just my observation that everything has a price?

So, if people*s expectations was that the co [REM] could quickly jump to £200m mkt cap from £95m @2.25p to help their investments were ? when the t/o failed. Even if the t/o of BCN was successful, there will be some who would have jumped in at a potential higher price and would be stuck if the stock had retreated as a matter of norm. All stocks are volatile eg Llloyds is at 49p+ from 67p+ in recent day - this is a FT 100 stock as an example.

So, one has to see what is potentially possible at this stage and whether there is the next Twiggy or the next Kvanefjeld?

For this reason, people like Sprotts who manage billions say that they look before they leap and see if the stock can actually have the potential to 10 bag. If it cannot 10 bag, then it would appear that the project may not have a massively large deposit potentially? They look at NPV. This interview by R.R can be viewed on Twitter [President & CEO of Sprotts].

I have in recent times done the research on Amapa, REM Greenland [now KDNC], Cummins etc.

One will see that research takes time as the info has to be progressively dug up and it has taken me a few days/longer. Even then, I have not been able to ascertain why Navigator Resources did not list etc. I checked Hotcoper and it says it is an unlisted co. I will not chase this up as its too long a story and besides that is not critical who owned it then etc.

So, for KDNC shareholders, they can now do the research because it is important to find out the potential $$$ in any potential project.

I am sure investors are aware of DL*s age and the rest of the management. I checked that the rest are almost 50 or 45+? I checked Linkedin as well as this can indicate whether there is a Twiggy?

Gina started quite young and I have not seen anyone building an FMG past 50 & in difficult times.

So, I take my leave in that there is no need to rese

contd
but no capex capital. BCN, for that reason, had to raise capex and the solution came via the JV partner.

I read recently on an Australian forum that FMG [Fotesque on ASX, Australia] was around 14c at one time and rose to $90. Today, FMG*s Mkt Cap is A$22.35 billion. FMB is in iron ore and from recall they almost went.... I think the reason why it is not $90 could be due to stock splits. Well, 14c to $90 is the dream that investors are looking for. Certainly, the mkt cap will tell us so ie $22.35 billion. This is the Twiggy [as he*s called in Oz] co.

In terms of LYNAS Corp [ASX: LYC], the share price is A$2.94 with a mkt cap of A$2.031 billion. Lynas is in rare earths & 1 of the 4 with significant deposits in Australia [Nolan deposit [NT] Yangibana, Cummins [WA] & Mount Weld-Lynas in W.A]. So, one can see that to come from a few million mkt cap, say shell A$ to $2.031 billion cant be bad and this is also the dream ticket.

I have never personally seen a junior explorer with say a shell mkt cap of up to £8m go to $2 billion mkt cap on the London market [or AIM]. The only one I have seen is Solgold, once on AIM started at a £8m mkt cap and went on to a US$1 billion re-rate for the Cascabel deposit with an MRE or just before from recall. It fulfilled the Tier 1 event and got the text-book potential $1 billion re-rate or close to it?

I am sure by now, one will realise that those who bought REM plc at mkt cap £95 @2.25p or lower would have to be cognisant that something bigger had to happen eg takeover of BCN and go on to production etc? When the t/o was rejected by BCN, it spelled ...and history now?

So, what is expected from KDNC? I see that the Founder falls into the category of VC and can smell out potential large projects eg Sonora, Greenland licence etc.
Suckling is also able to handle deal making eg putting it together etc via the McArthur Minerals example [KDNC owns 10% of McArthur].

Now, one sees KDNC is able to locate a project eg Amapa. The chap that bought it for $130m is now listed in Wikipedia as a former billionaire as he was not able to forecast the cycle per reports?

The Cummin*s acquisition by Clancy also appears to be one in which past funding may have been difficult? So, the co that takes over the Cummins project would have to be able to obtain funds to further the JORC and perhaps later fund the capital to build the mine? KDNC owns 3.9% of Clancy.

I have not been posting for some time ie yrs on the Lon. Sth East as I had taken a break. In more recent times, I have taken a look at the main KDNC forum. My, I was a bit ...as it was so different from the ole days.

So, I decided to post some research on the new projects ie Australian lithium projects etc. However, we know what happened there. No longer like the ole days.

Anyhow, I gathered from the posts that some expected DL, the Founder of REM plc to be a type of Gina Rheinhart or Twiggy? Gina*s empire also came from Aussie iron ore as

Summary:
Investors may be cognisant that to justify a mkt cap, it has to be underwritten by either earnings [P/E 10 or less/more] or a potential global significant resource deposit eg Kvanejfeld rare earth, Greenland etc [not all metals are equal?]. The mkt could then attribute an attractive mkt cap eg ASX: GGG [Kvanejfeld]. REM [KDNC] has the licence that abuts Kvanefjeld in Greenland & is awaiting renewal.

REM is now post the era of the Sonora lithium project with a mkt cap of £95m. Today, the mkt cap of KDNC, formerly known as REM is £10-£11m [0.10-0.11p]

FUTURE
The KDNC AGM of 2019 in London shortly will be an interesting one. It will depend on the opportunity to ask pertinent questions.

I cite an example of Rio*s last results conference call by analysts etc. They wanted to know how growth [organic] was going to be achieved & asked in particular about WINU at Paterson, Western Australia. Why? It is common knowledge that majors now need to replenish their resource cupboard and it is norm that they require a Tier 1 project and preferably in a Tier 1 jurisdiction [Western]. Majors need very massive projects eg Tier 1 to MOVE the NEEDLE.

For a junior explorer initially like REM plc, the Sonora project could have been transformational for the co and indeed the £95m mkt cap is testimony to the then potential.

Now, moving on, we have Amapa on the more immediate horizon which could be earnings enhancing with the normal risks attached. Pensionpot, the early investor has posted that he is looking to Brazil [Amapa]. This is the most visible immediate project with potential cash-flow. However, I note that if all goes through [Courts etc], then KDNC will start shipping some iron ore by end 2019? Please check with the CEO*s interviews.

For me, I would also want to go for a globally significant resource as an addition. This is not easy to achieve. Why? The 2nd part of development ie funding is challenging.

Arufura [Nolan rare earth in NT, Oz] is seeking part NAIF help with funding come the time & so is Hastings [Yangibana, WA, Oz]. It will be the same for Cummins Range rare earth, W.A, Oz come the time after the BFS [Clancy Exp].
One will note the 225% rise in Clancy*s share price in Oz and the enthusiasm for its stock. Why? The Aussies are keen on Aussie listed stocks and Aussie deposits. Perhaps GGG is an exception due to the fact that Kvanefjeld is 1 of the largest undeveloped rare earth deposits?

One will see that Clancy, like all other juniors have to review their resources and try to find the resource that could transform the co. Cummin*s has been sitting around but the time had not come until the US-China trade war event.

So, we await to see how KDNC will move to the next period of transition, post Sonora. Times are difficult and so the co will have to steer through this period. Rio has invited juniors to do JV deals and this shows that juniors may have no choice if they have potential Tier 1 projects but no ca

-------4 Advanced Rare Earth Projects in Australia: [My 10:12 post]----
<>Yangibana, Western Australia - Hastings on ASX. [REM-KDNC Hastings JV 30% Stage 2] ASX: HAS. Awaiting capex funding.
Mkt Cap A$140m & SP 15c.

<>Cummins Range Rare Earths, Western Australia
Clancy Exploration on the ASX [CLY]
KDNC owns 3.9% of CLY
Per acquisition terms, it appears that in 36mths, it will reach BFS stage. Cummins & Mt Weld share a carbonate type rare earth deposit. It was also reported [posted before] that US Geological has recently visited the site.

<>LYNAS Corporation, ASX [Mount Weld rare earth project, W.Australia]
Mkt Cap: A$2.031 billion & SP $2.94

<>Nolan, Northern Territory, Australia ASX: Arafura Resources Ltd
Mkt Cap A$88.61m
[PFS stage?]

Link: https://www.hotcopper.com.au/asx/has/
Type the other stock symbols to check the rest as above.

OTHER GLOBALLY SIGNIFICANT RARE EARTH PROJECTS
GREENLAND - KVANEFJELD [ASX:GGG]
Mkt Cap A$154m & SP 13c
Awaiting Mining Licence
US Geological has visited the site & did field studies.

Comment:
As said Navigator Resources prepared a 2011 Presentation [only one available] and it shows the comparitive table between Nolan, Mt Weld, Cummins, Yangibana. However, I have found a later link that shows the Cummins resource has increased via https://www.proactiveinvestors.co.uk/companies/amp/news/131930
"JORC Inferred 11 million tonnes at 1.1% TREO with 0.5% cut-off"]

Comment:
Needless to say, the rare earth project is especially rated that are in Western jurisdiction [Tier 1 jurisdiction].

One can see that the mkt caps as of Fri, 9 Aug 2019 are in the A$88 - A$140m range [Arafura*s Nolan project &Hastings Yangibana].

The Greenland Minerals & Energy Ltd [ASX:GGG] also has a A$154m mkt cap.

So, it is rather obvious that any junior exploration co that has a globally significant rare earth project at the various stage has a reasonable mkt cap.
Therefore, KDNC with a mkt cap of some £10-£11m mark can overnight in theory rise to become a much higher rated mkt cap if it has a project of global significance.

If I am attending the London AGM to come, this would be the area that I would like to know as a shareholder. Of course, if Cummins Range turns out to be larger as only a portion of the licence has been explored, then it could rival the bigger player/s. What one cannot have in grades could be in theory be made up via tonnage and scale [size] and this is well known for all mining projects?

Otherwise, how can KDNC become or go back to the old mkt cap of £95m at its height when it was then called REM plc?

Amapa is also due for news from the last KDNC update. Herein, also needs some enlightenment from KDNC at the AGM, in that, how is the iron ore price going to be managed ie are they from the lower cost quartile?

Not editing so pardon errors.

News
Fri, 10 Aug 2019

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