Member Info for observer842

DEV: 50kt ;-)

http://www.docasdesantana.com.br/index.php/operacional/programacao-de-navios

Nice reminder @jimb!

"Pilbara Minerals up on lithium auction" (Sep 15, 2021)
https://www.businessnews.com.au/article/Pilbara-Minerals-up-on-lithium-auction
===[
The Ken Brinsden-led company intends to sell a cargo of 8,000 dry metric tonnes at a price of $US2,240/dmt – the highest bid in yesterday’s auction – compared with the $US1,250/dmt that was paid for 10,000dmt almost seven weeks ago.
]===

Now that is some seriously strong demand!

"Pilbara Minerals up on lithium auction" (Sep 15, 2021)
https://www.businessnews.com.au/article/Pilbara-Minerals-up-on-lithium-auction
===[
The Ken Brinsden-led company intends to sell a cargo of 8,000 dry metric tonnes at a price of $US2,240/dmt –
the highest bid in yesterday’s auction – compared with the $US1,250/dmt that was paid for 10,000dmt almost
seven weeks ago.
]===

"The lithium boom just went to another level" (Sep 15, 2021)
https://www.afr.com/chanticleer/the-lithium-boom-just-went-to-another-level-20210915-p58rsz
===[
Pilbara revealed in its short ASX announcement that it has sold 8000 tonnes of lithium for a staggering $US2240 a tonne. Convert that to benchmark price and the auction yielded the equivalent of $US2500 a tonne.
]===

"The lithium boom just went to another level" (Sep 15, 2021)
https://www.afr.com/chanticleer/the-lithium-boom-just-went-to-another-level-20210915-p58rsz
===[
Pilbara revealed in its short ASX announcement that it has sold 8000 tonnes of lithium for a staggering $US2240 a tonne. Convert that to benchmark price and the auction yielded the equivalent of $US2500 a tonne.
]===

It can't help their position that the TA has turned positive too...

Indeed @jimb. The vast majority of those who contribute anything of any worth on this board have been here for some time. For me it feels like @EV is the most recent good contributor, but apologies if someone joined more recently who shares research and speculation who I engage with! With such a low churn rate this indicates to me that we are VERY under the radar. Although I've grown to like the name "Cadence Minerals" I've always suspected someone looking to invest in iron, or lithium, or Rare Earth's wouldn't give us second thought if they happened to spot us when looking where to invest. I wonder how many found this company in the early days by searching for what they were considering investing in: rare earth minerals. I certainly did!

I'm quite hopeful when Amapa comes good it'll draw the crowds in for the iron ore prospects, but who quickly realise we have Rare Earths and Lithium too, the latter in spades! LoL. As I mentioned, I came for the Rare Earth's, but stayed for the Lithium - as I'm sure many long term holders did. Amapa has always been a gateway to greater fortunes off the back of the new energy revolution for me. But it could easily be a company maker worth $$$ in itself. We'll see. And hopefully sooner rather than later. ;-)

The amount of LICENCED (into the 2060's) lithium RESERVES we have claim over in our Sonora JV's makes my eyes water every time I think about the increasing demand - and increasing prices! :-))) The market will wake up one day - a high view count YouTube video might do the trick - as it did for EMH ;-)

https://www.cadenceminerals.com/projects/sonora-lithium-project/

Ob.

LoL @degsie. Amapa is far from failing IMHO. The upside of further delays to taking our 20% is that DEV's shipped $10m net, part of which is being used to progress the project, and we may eventually take our 20% in a scenario which is more beneficial to us if the banks fail to sign and the courts rule against them. Brinkmanship is at play IMHO. But we don't know when we might take that 20%. If the banks capitulate it could be as early as today, otherwise it could be weeks, months, years. Who knows! ;-)

@MBW. Iron ore prices have come off the boil. Shipping rates have soared, and the banks appear to be challenging the next $10m net shipment. I would have sold down to these prices if I didn't believe taking 20% ownership was imminent. Instead I've been adding... ;-)

Bottom two paragraphs of interest:

https://www.drycargomag.com/dry-bulk-week-36-2021

I'm guessing if we knew where to look we might be able to find out the rates for the next ship? Or is it all hearsay? Surely the indexes are based on more than hearsay? LoL.

Indeed @EV. $10m net goes a long way with today's exchange rates!

@EV. So that's two Dispatch Conclusions and a named DEV ship. Interesting! :-)))

So regardless of whether they are Handymax or Supramax, they are likely chartered closer to Supramax rates as they appear to fit this specification, so following the BSI is probably more relevant to us: https://seecapitalmarkets.com/IndexDetailed?Id=288739

Some good insights in this article @Bannor - some are possibly Handymax vessels modified to fit Supramax specifications

"What Are Supramax Cargo Vessels?" (September 7, 2021)
https://www.marineinsight.com/types-of-ships/what-are-supramax-cargo-vessels/
===[
The term Supramax and Handymax are often used in close relation, but both have key differences. The Handymax class constitutes vessels of tonnage 35,000 to 50,000 DWT, while the Supramax class ranges from 50,000 to 60,000 DWT.

To note, deadweight tonnage is a term used to describe the weight of the total load a ship can carry, which does not include the ship and machinery weight. Instead, it is made up of the cargo, fuel, ballast water etc.
...
Supramax vessels face no difficulty in crossing these straits and canals. It is interesting to note that even the Handymax ships are being modified to carry up to 55,000 DWT of goods. This is due to the ever-popular demand for Supramax vessels. Although the demand exists for such vessels, they take a long time to manufacture.
...
This versatility of Supramax vessels makes it favourable for shipping across the world. In fact, due to the high demand for such ships, the majority of Handymax vessels are modified to fit Supramax specifications. In fact, nearly 80% of the global Supramax fleet consists of modified Handymax carriers.
]===

Thanks for the input @Bannor. I had a feeling it was more about the DWT than cargo alone. Looking at the DWT of e.g. OSIOS DAVID of 55kt and the length overall it does feel to me that it falls into the Supramax category more than the handysize one. Just my opinion of course, not that it matter much, just curious.

Decent site for tracking the various Baltic indexes:

https://seecapitalmarkets.com/ShippingIndexes

@Bannor. Do you think the ships that have sailed to date are closer to Supramax:

https://seecapitalmarkets.com/IndexDetailed?Id=288739

than Handysize?

https://seecapitalmarkets.com/IndexDetailed?Id=288740

Hopefully one day soon we'll step up to Panamax! :-)))

https://seecapitalmarkets.com/IndexDetailed?Id=288738

Definitions here:

https://www.balticexchange.com/en/data-services/market-information0/dry-services.html

LoL. I'm picturing a jack in a box. ;-)

As to the 29p options, I wonder if the BoD are kicking themselves as hard as some of those who bought in around 29p seem to be? They could have issued them lower if they had waited. I'm OK with it: I thought, as did the BoD, that Amapa was more imminent than it transpired to be, and added around then and all the way down to 21p this week. It's still imminent of course, perhaps more so than then? LoL. We just don't know. However, I would have thought that the BoD would be duty bound to inform us of any material changes to that last published. Namely: "The final settlement agreement is in near-final form, and the secured bank creditors have either had credit committee approval or are awaiting it."

Lol @Bannor. Oh do behave, you'll have those with a conspiracy bent blow a fuse.

It's widely accepted that BCN's funding attempts of several years ago failed due to falling and forecasted continuing to fall Lithium prices, how ironic/bitter sweet would it be if the takeover attempt failed due to rising and forecasted continuing to rise Lithium prices. Ganfeng know what is coming, why do you think they have been positioning themselves as they have around the world and here? 17.5ktpa/35ktpa? I mean really? REALLY? Perhaps M&G will see the light...?