Member Info for observer842

LoL $250k!!!

@MBW. We had $250m outstanding at the AGM, are you really concerned how we are going to, or how we did pay that????

@tomcat. I'd say we start the clock now, but if we don't complete in the next few weeks, month or so, we might have to pause it. Did I tell you when the next shipment is currently scheduled? 20,24,28

I wonder if we'll get an RNS later this week letting us know it has been fully repaid? By April was the schedule if I recall correctly.

Perhaps not whilst there are 4 DEV ships currently scheduled @tomcat, when we only need 2-3... ;-)

It's certainly, shall we say, interesting that some are still willing to sell below 20p @Mullins, when by pretty much all rights we should have been above 20p BEFORE this news. It's certainly a case of once bitten twice shy, or perhaps as @Bannor might put it, once savaged forever a recluse. LoL. Here we go!!!!

It's great to see it finally happening in pictures @tomcat! :-))))

And would you have it, futures up 6-8% (market still open) :-)))))

http://www.dce.com.cn/webquote/futures_quote_en.jsp?varietyid=I

Indeed @pensionpot. This is truly fantastic news after a weekend (and the rest!) of nail biting! :-)))))

Just a reminder what was said back in February:

"Kiran Morzaria, CEO of Cadence Minerals provides an update on the Amapa Iron Ore Project" (10th Feb 2021)
https://audioboom.com/posts/7796495-on-today-s-vox-markets-podcast-cadence-minerals-amapa-progres-versarien-mask-update-and-glen-go
===[
So hopefully, over the next, you know as I said, from once the movement of shipment of material starts, you know we are going to, close or around that time we'll get the settlement agreement...
]===

Absolutely @EV_Bull, fundamentals attenuated by technical analysis.

LoL @EV_Bull, don't let @Dallas hear you say that! It's worth taking the time to understand why certain aspects of technical analysis shouldn't be discarded out of hand. And because there is something behind certain aspects it means some will trade off these aspects reinforcing or amplifying any signal that might be there. For instance, consider a point in a share's past on a particular day when a much greater number of shares traded hands than on average for a particular price. Later, as the share price approaches this historical price (from either direction) it might encourage people to trade. For example, if it approaches from below, it might encourage those who bought in on the heavily traded day, and who refuse to sell at a loss to finally sell up. Similarly if it approaches from above it might encourage those who bought and refuse to lose money to have their stop-losses triggered at this point, to be potentially ready to be snapped up by those canny of the trends. Just some examples off of the top of my head, hopefully you get the point that a certain level of "resistance" can arise around certain points due to past activity coupled with human behaviour: which is quite hard to predict, especially when humans try to second guess other humans! ;-)

Ob.

@Tradecraft I wonder if it is worth adding an additional (perhaps optional?) 2-3 years at full steady state mining due to the additional 21% MRE over that reported by Anglo in 2012?

"Updated Mineral Resource Estimate for the Amapa Iron Ore Project" (02 November 2020)
http://irservices.netbuilder.com/ir/cadence/newsArticle.php?ST=REM&id=311428202001057764
===[
This Mineral Resource represents a 21% increase in total mineral resources compared to the equivalent MRE published by Anglo American 2012.
]===

Ob.

Hello @news. As far as I know the largest JV area "Megalit" (which is currently not a part of the Sonora Lithium project) is still only approved for title. Search for megalit in these documents for more information:

https://www.bacanoralithium.com/cms/wp-content/uploads/2021/03/BCN-Annual-Report-2020.pdf
https://www.bacanoralithium.com/pdfs/Bacanora-FS-Technical-Report-25-01-2018.pdf

@Dallas & @tomcat will know if this is not the case.

Ob.

Also may I recommend using the search function in reports like this. e.g. I mentioned 75% and 100% in my previous message - searching for these in the 261 page report is much more efficient than hunting for them by hand! LoL. ;-)

Thanks @news. Incidentally these life of mines are a little disingenuous as (is common practice) they are based on resources and reserve recovery factors of 100% when in practice they are 75% for this project, meaning they should be more like 200 and 35 years. If you have time it's work looking at the tables and figures in the feasibility report: https://www.bacanoralithium.com/pdfs/Bacanora-FS-Technical-Report-25-01-2018.pdf @tomcat and I have been through this several times and are quite familiar with it. You might realise there is opportunity to start a second pit to the South which is wholly on the JV lands with the two pits merging in later years. That could possibly be the most efficient way to scale this project to 100ktpa :-)))

My understanding from what I have read and heard is that the 250 and 50 year life of mine estimates relate to the JORC defined total resources (measured + indicated + inferred) and proven mineral reserves outlined in the Feasibility study. These are 8.8Mt and 1.666Mt respectively:

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

I agree with all of that @Tradecraft! And I have no bright ideas. Everything you do will be subjective estimates, perhaps counteracted by other movements such as increased capital costs due to increased steel prices as recently indicated by @Kiran. But just because I have no bright ideas, doesn't mean there aren't any to be had! ;-)

I forgot to mention the schedule has been updated. Didn't seem so relevant now :-). It's Romandie, 29,1, 5, Argyroula gs, 1,5, 9, New Liu Lin Hai, 2, 9, 14. First two C, last is U.

Indeed @tomcat. I was quite surprised to see that the LBO credit IS included meaning we (I'd!) been too conservative in my previous estimates :-)))) though I'm not sure why it doesn't add up to $135m exactly?

===[
1.1.33. "LBO credit": is the non-competitive credit Credit Facility Agreement: concluded on 06 December November 2013 between Zamin Amapá Brasil S. A. and Intesa Sanpaola SpA, Hong Kong branch (as agent on behalf of certain creditors), in the original amount of one hundred and thirty to five millions of North Americans (USD 135. 000. 000,00), LBO credit is secured by certain fiduciary guarantees and therefore is not subject to the effects of recovery Judicial.
]===