Member Info for observer842

Indeed @antelope. I concluded this some time back, though perhaps not as high as 50%! :-))))

That's called pulling the wool over your eyes ;-)

What makes you think that @Ctw? Looks to me that they are realising profits ahead of their company changing Amapa deal completing which will help them go to 27% of their JV ;-) Happy to be proven wrong though!

Indeed @EV_Bull, looks like they may have netted circa £1m :-))))

@tomcat. As noted in the courts, the intention was to ship net $10m in 4 shipments. It looks quite likely that this can be (perhaps has been?) achieved in 3 shipments. If this is the case and DEV were to continue shipping I believe they would be in breach of court. Announcements so far:

#1 OSIOS DAVID
"Inaugural Shipment of Iron Ore from the Amapa Iron Ore Project, Brazil" (29 March 2021)
http://irservices.netbuilder.com/ir/cadence/newsArticle.php?ST=REM&id=311428211398140537
" First Amapa Iron Ore Shipment Completed and En Route" (01 April 2021)
http://irservices.netbuilder.com/ir/cadence/newsArticle.php?ST=REM&id=311428213969264626
https://apps.sentinel-hub.com/eo-browser/?zoom=18&lat=-0.06071&lng=-51.16732&time=2021-03-29&preset=1_TRUE_COLOR&datasource=Sentinel-2%20L2A

#2 MEDI BRISBANE
" Second Iron Ore Shipment & Operational Update from the Amapa Project" (10 May 2021)
http://irservices.netbuilder.com/ir/cadence/newsArticle.php?ST=REM&id=311428213768281787
https://apps.sentinel-hub.com/eo-browser/?zoom=18&lat=-0.06071&lng=-51.16732&time=2021-05-08&preset=1_TRUE_COLOR&datasource=Sentinel-2%20L2A

#3 Medi Zuoz
Departed yesterday: http://www.docasdesantana.com.br/index.php/operacional/programacao-de-navios
RNS imminent.

#4 Marlin V
Due in on 01/jun: http://www.docasdesantana.com.br/index.php/operacional/programacao-de-navios

Just observing patterns @MBW. We've issued an RNS after each shipment so far, and I wouldn't expect that pattern to finish until the deal with the banks is completed and we are shipping so regularly it gets boring. But I could be wrong...

I'm expecting an RNS today ;-)

Ship Ahoy!

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

Now I'm impressed! ;-)

Good spot @EV_Bull! Closing the deal feels eminently imminent now ;-)

The addition in July was added last week. Other than MV on its way all are TBN. According to the court documents they were initially intending to make 4 shipments. Whether increased prices made shipping $10m net in 3 possible is anybody's guess. @Kiran said 2-3 after the first had shipped (implying 3-4 in total), so I'm guessing he didn't know at that point too - and I can't blame him as both shipping and iron ore prices have been quite volatile of late! ;-)

@tomcat departing wise, it's currently 4J, 4J, 1A - not including MZ, but including MV, all subject to change, and I would have thought especially if the courts don't authorise continued shipment in one form or another after $10m net has shipped! ;-)

Indeed @tomcat & EV_Bull. We should get an RNS tomorrow or Thursday if the loading goes well. Whether or not that RNS includes confirmation that the deal is complete or an indication that it practically is (paperwork with the courts) is anybody's guess... And to keep the traders on their feet it probably goes without saying that we may even get one this afternoon ;-)

Thanks @EV_Bull. A bit disappointed it wasn't the decision concluding the deal, but beggars can't be choosers. Progress is progress, and it looks like 4 ships will sail, then it's crunch time. :-)))

What looks to me like the BoD opting to take £1m in bonues (£250k each) in the form of options over 1.8m shares at 29p each, especially when the share price was 23.75p, speaks volumes. IMHO they MUST be confident this is going to complete, as must whoever authorised the bonuses... See my post on 01 May 2021 10:02 for how I reached this estimate from what was announced. Also note that the majority of these shares may have already been issued if the options come out of the Employee Benefit Trust. i.e. minimal dilution whilst raising up to £2.088m if all the options are exercised.

https://www.lse.co.uk/rns/KDNC/issue-of-options-0v0r8hq8fqpfhbt.html
https://www.lse.co.uk/rns/KDNC/employee-benefit-trust-and-share-incentive-plan-w2qnvszwz6nn3ph.html
https://www.lse.co.uk/rns/KDNC/establishment-of-share-incentive-plan-and-ebt-2uwryc2m1zdpsmi.html

Ob.

I found the persistent link: https://dnfanalysis.com/reports.php
Link to today's Dry Bulk Weekly news: https://dnfanalysis.com/CMS/imageFolder/1621874830.pdf

LoL. TL;DR see @Woodster5 reply ;-)

@MBW. My understanding is that options aren't typically exercised unless the recipient intends to sell the shares they receive, or they need the shares for their voting rights, or they are about to expire. If the BoD did exercise the options now it would send a bad signal to the market IMHO, as no matter how sure they are the deal is going to close and our share price is going to rocket, they would be fools to exercise until it actually has and the share price responds accordingly. Even then, I doubt they'll exercise straight away. Why would they? Share options are very valuable, and you don't exercise them unless you need to.

Just my humble opinion. Perhaps I'm missing something?

Ob.

@MLQ, I'm still waiting for the "Decision" that follows the "Conclusions for Decision" that was made in the main case in the courts on 15/05/2021. It might not be the decision we are waiting for, but it's good odds it is IMHO. For reference in the past year there have been around 10 conclusions for decisions with the decision normally following the same day in recent times or the following day, but sometimes 2-3 weeks later in earlier times.

Since the Conclusions for Decision there have been 8 movements, the latest being on Friday, the day after the "Qualification Request" was made.

I believe we are loading...