Member Info for observer842

Surely the MM's didn't go fishing for stop losses at 17p did they? Anyone want to own up?

Thanks @EV_Bull. That makes sense. I guess it's just this we are due back when they start to realise profit from sales?

"Amapa Update, Placing and Loan Note Restructuring" (1st May 2020)
https://www.lse.co.uk/rns/KDNC/amap225-update-placing-and-loan-note-restructuring-rhgatmril0hwjmc.html
===[
DEV has identified that it will require start up working capital to begin operations and Cadence has agreed to fund these amounts, via a bridging loan bearing an annual interest rate of 18% and repayable over four months from the date of advance, which we expect to be in early May 2020.
]===

@EyeGuy - this is a very complicated share on multiple fronts. I'm certain many invested here don't understand the details of what they are invested in - I barely do! As you know some posters didn't realise DEV could ship $10m net of costs. I'm personally of the opinion that if the scheduled shipping dates slip faster than we approach them, then (all things equal, BCN, HAS, EMH the same) there is a good chance this share price will fall, and for perhaps good reason. I don't know. I doubt those selling know either. It's a herd mentality thing: no news = bad news perhaps? Weird. But AIM is weird.

However, since the announcement that DEV can ship and the appearance of the scheduled shipments in the first week of next month these dates have only slipped a little bit, and certainly not as fast as we are approaching them. Therefore I say the market is wrong to sell, which means I have been taking the opportunity to buy. Simple as that. Doesn't stop some believing DEV won't ship though, and we son't sign. Forever stuck in limbo. LoL. Let them believe what they want. They may be right. But they may be wrong. That's the gamble we take when we invest in such a complicated share as KDNC ;-)

Ob.

@Cause & @tomcat. You appear to have a good grasp on these matters. It's $10m net of costs that is expected to be realised from the shipping of iron ore over the next few months - in the absence of a finalised agreement with the banks. Since it is net of costs this presumably means that KDNC will be standing in line to receive back whatever we have spent to date and continue to enable this particular activity? It's not a huge figure, but it's something! ;-) Or do you think enabling funds won't count towards costs? I tend to think they will. Thoughts appreciated! And estimates to KDNC if you have them, or is it simply that loan repayment with decent interest? Actually that sounds most likely! ;-)

Absolutely @EyeGuy. That's why I'm quite happy with it's AIM drift downwards. Another day closer to shipping as far as I'm concerned, and news towards this effect. ;-)

My thoughts are that if you believe Amapa will come good (eventually!) then it's a great buying opportunity. If you don't, then It's not such a great selling opportunity as it was when above 20, but probably still worth de-risking a little. I have been buying. :-)

LoL @Ray - surely you realise part of the rite of passage is delivering on your promises - which in your case means claiming £50k of published share purchases and producing some decent figures. Over to you. ;-)

@Ray. There is no simple answer to that question, but I fear you are going about it the wrong way. One strategy would be for you to filter everyone you think is attacking you and only converse with those who are willing to give the benefit of the doubt? Should you prove your sincerity you'll get your apologies, perhaps not from everyone, but from some.

Judicial Recovery Plan

Have you read the JRP?

Good plan @Ray! I love pondering over good figures. LoL. :-)))

@Ray - You are being tested.

I'll try to explain: basically this board is haunted by a bitter poster who purportedly lost a lot of money in this share several years ago. What happens is every couple of months or so we get a new poster with very low post count who seems sincere enough to start with, but eventually turns out to be the disgruntled one, and they get banned or just stop posting as their credibility is shot. Unfortunately for you, you happen to share the first name as a recent attempt. Fortunately for you there is a simple way to prove you aren't them. Calculators at the ready ;-) LoL.

Ob.

Good link @Cause. Shame they didn't mention EMH too!

Interesting to note that the new private declaration of net short positions to the FCA from the beginning of February is 0.1%, down from 0.2%, with public declaration (still) above 0.5%.

https://www.fca.org.uk/markets/short-selling/notification-and-disclosure-net-short-positions

Indeed @nookie. If you think Amapa good news is coming any day now, and that we are unlikely to do a placing beforehand, then what's that saying about gift horses and their mouths? ;-)

No links @Cause. Just take it as my informed opinion that I think I see 3 DEV ships on the horizon. And yes, without a link I wouldn't trust a thing anyone says, and neither should you! LoL ;-)

3 Dev ships on the horizon? Interesting if not a mirage! :-)

Indeed @nookie, especially since presumably operations news is now imminent if DEV are going to meet their current peir 1 slot of shipping early next month? ;-)

"Update on the Amapa Iron Ore Project" (19th Feb 2021)
https://www.lse.co.uk/rns/KDNC/update-on-the-amapa-iron-ore-project-jauiiriv4x26yb8.html
===[
We look forward to updating shareholders when operations recommence at the port
]===

@mkdv. Thanks for highlighting this and that transcripts are available :-)

@EyeGuy, I thought you might like to know that when the initial news came out:

"Heads of Terms to Acquire Interest in former Anglo American Iron Ore Mine, Amapá, NE Brazil" (21 May 2019)
http://irservices.netbuilder.com/ir/cadence/newsArticle.php?ST=REM&id=2790390
===[
65% Iron Ore (CFR) North China have increased from US$95.95 per dry metric tonne ("$/dmt") to US$111.90 / dmt since early September 2018 to the middle of May 2019
]===

Also, I think 62% Fe was in the range $90-100/t IIRC, which seems to correspond with the above.