Member Info for observer842

LoL @Jimb2 "and my instincts are that you are not one to get numbes wrong!". All I did was find a graph of the Tesla share price which has yet to go over $1000 which means everything prior to the share split (when it was over $2000) is taken into account. As simple as that. No calculations required. If graphs have sudden drops or rises at the time of consolidation/split, you have to be more careful ;-) Take a look at ours here: https://finance.yahoo.com/quote/KDNC.L/ we know we consolidated, and yet it doesn't show, so you needn't worry about it when determining how much profit/loss someone would have made.

Not that it matters, but I think you are double accounting @jimb. In today's money, TSLA has gone from circa $40 to $800 in circa 5 years. i.e. shareholders would have made 20x gains.

News on courts could still be today. Or tomorrow...

News is due within a week from Monday. So could land today...

CDNC is pronounced Cedence.

Someone spotted something?

LoL @Barksy. Surely you jest. KDNC is pronounced Cadence.

A painful reminder of when our Tesla news was released and the Americans bought the wrong REM in the states...

"GameStop: Share buying mistakes 'on the rise'" (11 Feb 2021)
https://www.bbc.co.uk/news/business-56020950

VERY roughly based on CURRENT mining schedules my CONSERVATIVE valuation (and everyone has their own) is:

Yangibana JV: 5% of HAS Mcap = £6-7m
Sonora JV: 5% of BCN Mcap = £7-8m

Also, that $600m Amapa valuation is way, way too low in my estimation. But that's the yardstick we are using, presumably until the scoping study is released. :-)))

Ob.

@Cause17: "My understanding was wrong. You are correct.". I'd be happier with "My understanding was probably wrong. You are probably correct.". It's far too complicated to be certain on any of this! LoL.

It certainly feels like there is a sense of imminence in the air, especially since the ruling was on Monday... ;-)

And now the DCE is shut for a week.

http://www.custeel.com/en/csi.jsp
===[
Date Seaborne index 62% Fe fines Seaborne index 65% Fe fines Seaborne index 65% Fe pellets premium
2021-02-10 165.70 190.00 51.05
2021-02-09 163.20 187.50 51.05
2021-02-08 159.70 184.50 51.05
2021-02-07 155.70 180.50 51.05
]===

As a reminder, the JRP is based on Fe 62% $61/t and Fe 65% $80/t, and I suspect a high pellets premium can't hurt! :-))))

Ob.

The link is here:

https://www.cadenceminerals.com/wp-content/uploads/2021/02/20210209-Traduc%CC%A7a%CC%83o-Juramentada-2199480-27.2020.8.26.0000-v01.pdf

Some news feeds can't handle links like that...

Yes @jimb2 - we should get news on this within a week - perhaps tomorrow. Court watchers might even spot it before the RNS ;-)

I see the auction uncrossed at 19.3p for around £2k. Nice perky end to the day. :-))

@Cause. I can see why you think the 60 days might be reinstated, but I believe it was a direct quote from an earlier judgement, the 60 days having long since elapsed, and I see no evidence it has been reiterated. We reported on it here:

"Court Approval to Commence Iron Ore Shipments" (14 April 2020)
https://www.lse.co.uk/rns/KDNC/court-approval-to-commence-iron-ore-shipments-hzouuhfq5grr5eu.html
===[
The Court ruled to release the funds. In addition, the Court has requested that the secured bank creditors reach an agreement with the JV Partners and DEV within 60 days or the Court might rule on the annulment of the Bank Liens and consider the banks as unsecured creditors. As unsecured creditors, the bank's credit will be subject to restructuring plan limits and discounts and be paid from free cash flow from DEV, which may be over fifteen years.
]===

The way I see it is that following the agreement in principle with the banks in September the threat related to annulling the Bank Liens is no longer relevant at this time, the focus has been on getting the ore shipped which DEV is now able to do. If after the $10m has been raised from sale of ore and we still haven't finalised, and especially if we declare agreement could not be finalised, then the question of ruling on annulling the Bank's Liens may once again arise.

I could be quite wrong on any of the above, so please do try to persuade me to your way of thinking if you see it differently, especially if you have compelling evidence! ;-)

Ob.

@Daceon. If you think about it you might realise why it is low key. The banks just had a judgement made against them. We are in final discussions with them. Would you want to risk upsetting them by shouting how good the judgement is for us? I wouldn't. Let's finalise the discussions, get our 20%, and then tell it to the world! ;-)

Indeed @Daceon. If news later this week/early next is favourable (i.e. the banks don't manage some kind of super appeal), then we are well and truly on our way. The banks believe it isn't in their interests for this shipping to go ahead as for them it was a stalling bargaining chip at the negotiation table with us, since agreed in principle is not the same as agreed in practice. Could be a very interesting few days/weeks. :-)))

The settlement terms haven't been made public. We'll know what they are when they they are filed with the courts, or shortly before/afterwards.

@Strummer: "Am I correct in thinking the banks have 60 days to agree a settlement?". Not my understanding. The 60 days was a quote from an earlier judgement last year. Possibly the one in April?

Page 004: https://www.cadenceminerals.com/wp-content/uploads/2021/02/20210209-Traduc%CC%A7a%CC%83o-Juramentada-2199480-27.2020.8.26.0000-v01.pdf

@MajorOak. You can't deny it was a pretty decent summary on reddit. Did you read it?

https://www.reddit.com/r/pennystocks/comments/lfargh/european_metals_erpnf_speculating_on_europes/