Member Info for tomcat-14

is it just the debt that you sold on to the unsuccessful company that you are liable for for the next 2-years... or the debt they may have accrued over the next two years after the sale as well ... (did you also notice they have all the supply chain companies... subsidiaries and others... that were reliant on the mine... that also collapsed with zamin... in the same predicament as anglo)...

100% definitely egg...

with the urgency to repay the loan now gone... and the urgency to use the $2.5m we have put into the jrp escrow account... that went a couple of months ago... now that the small labour creditors are to be paid from the profits from the $10m net stockpile sales released by the courts... and the rest going towards the studies... puts the need to raise the additional $3.5m a lot further down the line too... makes me a lot more hopeful that they can start to raise at a much higher... and much more palatable share price... using the $2.1m cln for the most of it... plus dev’s loan repayment £525k (+1.5%/month)... how much more are we talking that we would need to raise now... to get to 27% ownership of amapa...

i thought a) initially... but then b) came to mind as a possible option based on the cln terms... and as noted... either way it has taken away the immediate pressure to raise the £2.1m to repay the loan... so i suppose it now depends on whether our loan providers still want to try to keep the sp suppressed or not... and for how long... i would think they will want to hold onto as many cln's as they can for as long as possible myself... so am now even more edging towards b)... there could even be an option c)... and it’s just the lump sum payment that’s delayed until april (plus interest)... with no further monthly payments to be made... keeping the maximum number of cln’s in hand...

how you getting it to £270k/month ob... £2.1m balance at 7.9% pa... 10months payments to april21... the two options i can see it could be repaid are... (rounded and ignoring 10/12x7.9% for a worst case calc)...
a) £2.1m + 8% = £2.30m / 10 = £230k/month...
b) £2.1m + 8% = £2.30m / 2 / 10 = £115k/month and a lump sum £1.05m payment in april...

or short... cough... hey nelson...

we’re getting 18% interest on our loans to dev...

ivy... just the man... this forward selling lark... is that where they borrow your shares and sell them to falsely suppress the share price so that you sell and lose your money and they then buy back your shares taking the profit from your loss so the shares can then be returned back into your account so that your broker can then pass them on to the person who bought your shares when you sold them... lucking feverage hey... can’ts...

i haven’t changed my view on that ob... hence why i was looking to find where the 6p conversions went... they weren’t on the tr-1... and unlike these... those would have affected their holdings... let’s see if we get and update this time...

so some people keep on saying... but those ships keep on docking at santana port... one after the other... cianport’s marinus just arrived their today in fact... arrived early and before scheduled on 7th june... it’s been busy a busy dock right though the lockdown... and if anything... it’s probably berth availability that’s more of a risk to us... than the lockdown is... hope we’ve managed to secure our slots already... and the haulage contractors to move the ore...

or they could have done a 50/50 split on the total balance today... and worked it as the previous agreement... either way... it’s a cracker of an rns... enjoy the weekend all... roll on monday... to hopefully top that off with the news me and dallas and everyone else who’s joined up or topped up this week are anticipating... ;)

oh yes... and it’s worth adding that repayment of the outstanding loan amounts... has been extended until april 2021 as well... from september 2020... a 7-month loan extension / repayment holiday... doesn’t say... but the 3-months remaining on the monthly payments to september... i assume will now be reduced and spread out over the now remaining 10-months too... d:)

loan note conversion...
they’ve converted 1,835,706 shares at 12p per share... for £220,284.72... which is a 21.82% premium... on tonight’s closing price of 9.85p... d:)

morning frankie... i’m working it back from the update rns... as my worse case... est ship sails friday 31st july... i’ve given them 3-weeks to move 15,000t/week to port... then 1-week to load 45,000t onto the ship... commence shipping ore by the end of the of beginning of q320...
cadence minerals is pleased to announce that the amapa iron ore project remains on target to commence the shipment of its stockpile of iron ore by the end of q220... or early q320...
dev is engaging principal contractors and expects to be able to start the movement of the material to the public port in july 2020...
dev plans to ship directly to customers via 45kt bulk carriers at a rate of 2-3 loads every 2-months... dependent on port berth availability...

how long will it take them to mobilise the movement of $10m net profit over the next 4-months... ~240,000t iron ore... by road... a couple of clicks through a not so busy at the moment... port town of santana... 4-weeks?... contracts and licenses needed this week then... for shovels to start loading monday 6th july... whoever it is that’s loading up... is anticipating the good to go news... very soon...

it’s a good cover though... ;)

look a bit harder then... it’s quite extraordinary isn’t it... but very welcomed... ;)

until lodgement of an announcement to the market concerning the execution of an agreement with an offtake partner...

yes ob... have you got a link to support such wild posts about 6% surges in ore prices...

still on target... ;)