Member Info for observer842

Don't blink! lol

https://find-and-update.company-information.service.gov.uk/company/11349694/filing-history
https://find-and-update.company-information.service.gov.uk/company/11189628/filing-history

In light of the updated corporate presentation, I'm looking to understand how this might be reflected in our year end accounts in relation to Amapa.

The way I see it this:

"Investment Update" (31 October 2022)
http://irservices.netbuilder.com/ir/cadence/newsArticle.php?ST=REM&id=311428223007620298
===[
The total value of these three items is approximately US$3.3 million. Cadence requires no additional capital raising to increase its stake

Once complete, Cadence will have acquired 30% of Amapa for approximately US$9.3 million. Anglo-American valued its 70% stake in Amapa at US$ 462 million (100% US$ 660 million).
]===

makes the book value of every % point we own of Amapa worth $1.1m, meaning the current book value of our total 30% is $33m, off an investment of $9.3m.

Which means to 2022 year end our initial investment in Amapa, on the books, will be reported to have grown by 254%. Pretty impressive!

Is that right? And if so, would it have made sense to buy the final 3% for more? lol. Though if I recall correctly it's possible to deduce that each additional % point above 27% is pre-defined in the JRP valuing the whole at $110m, so perhaps not - and besides, it would be a kind of crazy strategy if we elected to pay more for it in order to inflate the book value of what we already own. Or would it? lol. Maybe the market thinks (incorrectly) that is what we have done and is the reason Amapa value isn't currently reflected in the sp currently? I guess it's impossible to know the reason why the current mcap is so far below book value NAV. Hopefully this'll change very soon, so much news in the near pipeline! ;-)

Ob.

And that's the conservative book value of 24p, not fair value (43p/71p recent brokers) , or optimistic potential NPV value (into the £££'s). :-)))

https://www.cadenceminerals.com/wp-content/uploads/2023/03/Cadence_PPT_V.1_2022_03.pdf

Wow! skipped over slide 4 first time through, and completely missed:

"MARKET CAPITALISATION BELOW BOOK VALUE" - so it is! and big time.

Book value = £42m (24p) yet at the current sp of 14p I make our current mcap nearly half that at £24m.

That's got to stir up investor interest when he presents it next :-)))).

Wow! skipped over slide 4 first time through, and completely missed:

"MARKET CAPITALISATION BELOW BOOK VALUE

https://www.cadenceminerals.com/wp-content/uploads/2023/03/Cadence_PPT_V.1_2022_03.pdf

Glad Amapa NPV of $949m is clarified as NPV10 and post-tax, it's very important when comparing against peers! :-)))

Anything that gets the project rolling, and at scale will hopefully affect us! Positively :-)))

Indeed @Bannor. For those not following closely, these are the intriguing events that happened recently:

https://find-and-update.company-information.service.gov.uk/company/11349694/filing-history
https://find-and-update.company-information.service.gov.uk/company/11189628/filing-history

Pessimistically the best I can come up with is they are simply transferring ownership to another subsidiary so that overall there is no change: Ganfeng keep ownership of Sonora, well the LV and their 70% of the JV's. But if that is the case, it's a bit odd they didn't file on the same day...

So that leads me to think optimistically. ;-)

Nice find both! And it's great that we are now promoting the message that: "It is our current view that the Decree passed by the senate only impacts licenses, concessions or contracts to be granted not already those already granted as is the case for the Sonora Lithium Project. Therefore, at this point we do not believe there is a material impact to our joint venture areas."

Indeed @Holly, followed by the WHI 71p party. lol Assuming most things go our way of course!

Indeed @Happy, after all there is more than enough Lithium in the sea, doesn't mean you can extract it efficiently or in a timely manner. Exponential lithium growth is required now, not in 10 years time. Our lithium is ready to roll. Let's see what further announcements are made as suggested by AMLO would be.

Clear you cache?

Maybe you are looking at an older version? It's unlikely they would "correct" EMH to EML, but likely the other way round! lol

Not sure what you are looking at @SCE2AUX. I'm looking at: No mention of EML

https://www.kemenycapital.com/wp-content/uploads/2023/02/Kemeny-Capital-Cadence-Minerals-KDNC-February-23.pdf

? "Cadence Minerals holds a 7.2% stake in London-listed European Metal Holdings. We base the value of Cadence’s exposure on the current share price of 36p."

Indeed @tomcat: "the sale of the 58% iron ore concentrate stockpile is now economically viable." ship ahoy. lol.

Of course! Until they have been fully paid that will always be the case, and I suspect why the value of Amapa is yet to be fully realised in our SP. Some may even have worried that the settlement deed may not remain in full effect if we were unable to meet the 2022 payment schedule. But they have just been proved wrong ;-)

"the settlement deed remains in full effect"

Clearing the decks for company defining news later...?

For those that haven't seen the mining zone or the decree - we are at the top, looking very familiar ;-)

https://www.dof.gob.mx/nota_detalle.php?codigo=5680091
https://www.dof.gob.mx/imagenes_diarios/2023/02/18/VES/SEECO_1_Cimg_45290.png