Member Info for observer842

Indeed. Looks like we know which way the share is heading first thing at least! But second thing? Third thing? Last thing? LoL. Only time will tell...

Anyone else think the MM's appeared a little bit over keen to red this page today? Suspiciously so in fact. Any thoughts @Dallas?

https://www.lse.co.uk/ShareTrades.asp?shareprice=KDNC&share=Cadence-Mineral

I find wanting a share to go down normally sends it up! LoL.

@Bannor & @Cause. You've persuaded me - I will be surprised. Just not very surprised! LoL.

Indeed @Bannor. Clearly not finalised. I guess what I'm getting at is that some aspects of what we were updated with today could be several weeks old, in fact we know their counteroffer was made beginning of July (end of June even?), so agreement of key terms could have been mid July. We could have been negotiating the final closing points over the past few weeks, but not knowing exactly how long this could go on for (these things take time!) an update was issued today to placate the market as an ever growing chorus was asking for one!. This does not mean closure will *not* happen today or later this week. Do I think it will? On balance no. Will I be surprised if it does? No. :-)))

LoL @Frankie. If you ask me it's likely that @Kiran has held off updating us as long as he reasonably could in the belief that "set in stone" news is imminent. However, how often in life have you given up waiting only to find that the thing you were waiting for then happens! ;-) So it wouldn't surprise me to hear that the negotiations were concluded this morning and an RNS issued this afternoon. Do I think it will happen? No.

Personally it wouldn't surprise me if we got a "set in stone" RNS this afternoon. LoL.

And of course to be informed of the reason why DEV has yet to ship ore. This too could commence imminently. :-)))

Indeed @Investor81. We asked to be updated. Updated we were. It's very reassuring and pleasing to be informed that key terms were agreed!

Wow. According to CME group iron ore futures are now above $80/t out to two years! :-)))

https://www.cmegroup.com/trading/metals/ferrous/iron-ore-62pct-fe-cfr-china-tsi-swap-futures.html

You really think long term holders are going to sell at 15p when it is set in stone? LoL. Not a chance from me.

DCE just closed back up towards $120/t :-)))

Indeed @Barksy, but most importantly: "The Bank Creditors have proposed settlement terms, and DEV and the Investors have agreed in principle (subject to contract) to key terms and have proposed some amendments." :-)))

Thanks @Kiran!

Indeed @tomcat. Tense times! News imminent and has been for some time. With each passing day does the news become more or less imminent? LoL. We know we've made an offer and they have made a counteroffer - will other news come before this is resolved? All seems a bit call my bluff if you ask me. I suspect without the court's authorisation for DEV to ship net $10m we wouldn't have seen their counteroffer, so if a deal is struck on the back of this authorisation without a single tonne being shipped it's served its purpose! No ship in the next week probably means a deal is imminent IMHO. What's your take?

Indeed @Barksy. There appears to be a 10 day gap on pier 1 (used for the large cargo ships) after which it becomes fairly chocka until early September. I've no idea why we wouldn't be using this 10 day period to ship our first batch of iron ore from the stockpiles, since the courts have given us permission and communications from the BoD have previously suggested early Q3. Personally I think whatever the reason is, it's newsworthy and we should be kept abreast of the situation via an RNS. The only reasonable exception to this in my book would be if substantial news trumping this was imminent - which it may very well be with regards to negotiations with the banking union. Fingers crossed it's good news! :-)

It's the one cargo ship @tomcat mentioned. Carrying wheat I think. It's relatively small. SIDER VENTURE.

Sider docked in pier 2, which means...

Not to worry @Cause. I find it useful for projects in which I have an interest to have in mind the additional pre-tax NPV5-10 for each dollar above the baseline commodity price. It's pretty simple to get these quick and dirty estimates from something like:

https://www.calculatorsoup.com/calculators/financial/net-present-value-calculator.php

Spreadsheets are overrated ;-)

"Amapa iron ore mine" (17 June 2020)
https://www.woodmac.com/reports/metals-amapa-iron-ore-mine-17230546

Just wondering if anyone got hold of this report? Waiting for the scoping study is beginning to drag...

@Cause - presumably you've got an estimate of the marginal NPV for each dollar above the baseline $61/t 62%, $80/t 65% used in the JRP? It's eye watering at today's prices! Approximately $120/t & $130/t :-) Call it $50/t * 5.3Mt = $265m additional EBITDA - put that through the NPV calculator, and... :-))))

Ob.