Member Info for tomcat-14

my understanding (for what it’s worth)... is that gerald have agreed on a settlement... as the details described... (if they’d have executed their guarantees... the project would be in bankruptcy already... not judicial recovery... and the 3 groups of secured creditors would be fighting each other over whose all the ore located at the port(s)... is whose)... gerald have therefore now accepted that their ore is located at the mine... and will pay us to ship it to port... when the infrastructure is back in place to do so...

but a 2-weeks slot... if it is available... would give them the extra time they might need to set up familiarise and get the 1st shipment of a new iron ore shipping operation away...

6th sounds a bit close... it’s only a week on monday... but there was already a substantial pile... or two... of ore at santana... so may only need topping up to the full 45,000t needed to fill the bulk ore carrier...

there is an upcoming opening at the santana public port... no berths booked in... between monday 6th to friday 17th july... which... unless that’s the santana two weeks public holidays... it’s an opening...

guess they must have started on site... moving it to santana... monday 22nd june 2020... after all...

nope... just 4-days in my calendar bannor... to q3 2020...

transport of the the material from dev's port to the public port has begun... dev expects to be able to start shipping in early q320... d:)

big gap between 6th and 18th though...

there’s only 1 monday left in june now ob...

from the satellite images... it’s stored at both the private and public ports...

if they execute their guarantees... do the get the jacked up port too... that’s lying at the bottom of the amazon... as well as the amount of iron ore they have to guarantee the repayment for the purchase of said sunked port... or do they cherry pick and choose... i’m picturing it like a repossession... but can’t imagine how they’ll take the sunken port away... or the ore... how much rent is owed for storage...

executing the guarantees stakes their priority claim over the ore at the port... rather than that at / in the mine... and by the looks of it... the floating platform too... and legal / administration costs etc incurred... which is probably why they’re unable to do that... they’re likely to be worse off if they did...

could be that that $50m is referring to indo sino’s credit/guarantee... if not... it’s surely part of the lbo credit total noted in the jrp...
1.3.33... $135m... the lbo 6 credit is guaranteed under certain fiduciary guarantees and... therefore... is not subject to the effects of judicial recovery...
pretty sure their ore will included and all accounted for in the plan... whether we get a settlement an execution or a default... minus full costs incurred to date if any of the latter two...

pun was intended bannor ;)... and a great job sorting out the little conundrum guys... although have you just added another unknown $50m secured creditor into the mix... banco abn amro bank... it’s like we’re seeing double now isn’t it... anymore for anymore...

it’s all a bit of a minefield... isn’t it...

who was it that appealed against the jrp...

page 18... investor presentation...
amapá’s last full year of production... 4.0 million tons were mined and 1.8 million tons were sold... i make that 2.2million tons must be stockpiled... somewhere...

that’s good to know... i’m still unsure about gerald and the syndicate of banks... and if they’re the same or different $135m creditors...

with the jrp now undoubtedly nailed on... there really are only 2 options for the secured bank creditors syndicate... accept the offer... or execute your guarantees... the default in the event of no decision... must be automatic relegation of the secured credit to unsecured status... ratified by the court... they cannot delay inevitably... they’ve already had 6months longer than they we meant to take...

accounts 1st... they’re currently in a closed period running up to their issue...