Member Info for tomcat-14

and it’s that concept that... we don’t actually want the banks to settle now... that is difficult to grasp... better they settle just before we raise the next stage of funding... which is no longer needed right now... but around christmas... after we too have seen the project further derisked... successfully shipping ore from the stockpiles... recommissioning study with detailed asset registers and priced work schedules required to recommission the mine railway and port... and of course... our own independent scoping study... be careful what you’re wishing for... ;)

http://irservices.netbuilder.com/ir/cadence/newsArticle.php?ST=REM&id=311428203156429223 ...
the first of the net revenues from the sale of the stocks shall be used to pay historic small and employee creditors ($2.5m)... thereafter funds will be used to begin recommissioning studies on the asset including plant railway and port and to start maintenance and monitoring of the current tailing dam facilities ($6m) and provide ongoing working capital and historic finance obligations...

i suppose what i’m getting at is... we may not now be doing dipa and dipb separately... but the full $30m at dipb... some of the dipa conditions being waived to be completed for the dipb financing... around the end of this year / early 2021... using the proceeds from the stockpiles to pay for what we had been paying for with our $2.5m + $3.5m investments... in exchange for 20% + 7% of pba... means the project can continue without further delays... but dev under control of the jrp administration... not the jv co...

have we waived those already now... to start shipping the stockpiles... to pay for the dipa and part towards the dipb... allowing us to raise the rest of dipb financing later on... at a further derisked value... that hasn’t yet... but should be... reflected in our mcap...

so with all that in mind... how far do you think we can / will run with it without dipa being triggered... and dev shares being transferred into the jv co... knowing that we can waive the outstanding bank settlement conditions from dipa onto the dipb conditions... and the transfer of dev’s shares... at anytime we choose...

but the good thing is... i can see ships on the amazon again... but wait... what’s that... where’s all the stockpiles gone... lol :-)

yes... don’t forget... the jrp is the jrp... our jv with indo sino and ownership structure of pba relating to the jrp dipa and dipb financing... are two separate agreements... the jrp is only interested in the dipa payment being made... to fulfill dipa... it’s the jv co that is interested in the conditions being removed... or not... as may be the case in this deadlock...

sorry didn’t see those replies ob... lse’s hiding posts again...

or if we get the rns monday... now that the 60days deadline has clearly elapsed... advising that we’ve petitioned the courts again to rule on the annulment of the liens...

i’ll be interested to see if that payment triggers dipa... and the transfer of 99.9% dev shares into pba... allowing us to proceed to raise the dipb financing with 20% ownership of pba as was expected to be the situation at christmas 2019... temporarily waiving condition (v) at this point... as 5.1.1.3...

the first of the net revenues from the sale of the ore stockpiles will be used to pay $2.5m to the historic small and employee creditors... which in effect is the dipa financing...

whilst i) is done but hasn’t been enacted yet due to the refusal of the banks to agree a settlement... we have moved between i) $12.5m and ii) $50m... with the £525,000+1.5% per month interest... recently invested by means of a bridging loan provided to dev by kdnc... for the start up working capital required to begin shipment of $10m net profit from the ore stockpiles...

yes ob... couldn’t have summarised it any better... the investor should finance capital and capital expenses of the debtor through dipb and dipc finance... and payment of unpaid creditors through dipa finance... as the rules laid down in this judicial recovery plan... which all ties into the projected book value of the jv company pba... for dipa and dipb financing at the various stages of the project development being...

i) $2.5m cash investment by kdnc for 20% pba... pba valued at $12.5m (100%)...

ii) $3.5m cash investment by kdnc for 7% pba... pba valued at $50m (100%)...
$25.5m debt(*) value transfer to pba by indo for 51% pba... $50m (100%)...

iii) $24m cash investment by indo(**) for 23% pba... $105m...

(*) $49.14m total debt transfer to pba by indo for 51%... $96.35m (100%)... this debt therefore carrying about 51.9% of the value of kdnc cash investment...

(**) kdnc have right if first refusal should indo pass on their option to make this cash investment...

where are we now...

it also includes useful clauses that deal with tricky situations that may arise whist trying to implement the plan...

i think it deserves a thread of it’s own... it’s a must read if you haven’t already... it’s what the whole amapa project re-habilitation investment plan is based on...

444,444...
555,555...
444,444...
are they codes...
454... asa...

with the jrp being out in the public domain in brazil... should the bod not make a translated and readable version available to it’s shareholders... if it’s really that good... i feel a little discriminated against now... being visually challenged... and monolingual...

small = expensive...

i can’t see that ob... 2012 anglo were shipping from the private port...

the google earth street map?...

can you... the streetmap posted 19:51 is most recent for me... i’ll try zoom again...