Member Info for tomcat-14

what’s it say...
copy paste it ob... :)
haven’t had chance to get hold of it yet...

probably not one for the phone then... can’t speak any... but my interpreter joao is getting quite good at it now... just that some of the legal speak is still difficult to grasp sometimes... how many times does it have cadencia written in it... ;)

thanks will try that again later... do you think we can sit in the public gallery of the actual virtual hearing... there was/is one coming up that seemed to have a link... which i’d thought that was authorised access too... but maybe not if we can get to the files...

i did see those 7 pages of entries go in last week... but haven’t got into the actual documents themselves... tried in the past when some others got linked for the court case... wouldn’t let me in... can you get access?... lol...

wherever that’s disappeared to... http://irservices.netbuilder.com/ir/cadence/newsArticle.php?ST=REM&id=311428203156429223 ...

https://www.cadenceminerals.com/wp-content/uploads/2020/02/Corporate-Presentation-KDNC-Jan2020-PPT-PUBLIC.pdf ... old now i know... but reads much better now... after last weeks rns...

shipping 5.4mt/yr... 450kt/month... once the mining operations are back up and running... 450kt/60kt... 7.5 times the amount they’ll be shipping from the stockpiles... 7.5 x $5m = $37.5m/month... x12 = $450m/yr... x27%... $120m/yr... x0.8 = £96m/yr gross...

checking your valuation jimb... from this/whi’s angle...
1.3mt ore in the stockpiles... @60kt/month... 21.7months... x$5m... $54m profit value in the stockpiles... x27%... $14.6m... x0.8 = £11.7m...

that works out at just over 50% gp... so if they’re shipping $5m gross per month... as kiran just noted in the proactive interview... $2.5m profit per month... gives them 4 months of ore to ship... to use up the courts permission granted to ship $10m profit... about 25% of the stockpile... from the last stockpile valuation reported at $40m... with the 60day deadline... ‘i think’ we should know what the banks intentions are... even by the time they start shipping the first load...
shipping $5m of ore gross at $84/t is ~60kt/month...

i think it’s satisfied by default... as said... there would be no secured bank creditors at that point... the reason for the condition is to free up any claim on the asset held by the secured debt... there won’t be any... it’s not that the condition hasn’t been met... but that the condition has been me... or no longer needs to be met... as the liens will have been removed by the courts...

good point... but if option 2 happens... there are no secured creditors with which to settle... ;)

i don’t agree with your options there bannor... there’s only two options i can see...
option 1... the bank agrees to the deal we’ve offered...
option 2... the bank doesn’t agree in the next 60days... then the courts remove all liens/security held on the assets against the secured loans... and they get paid in accordance with the jrp... in line with the same limits all the other non-secured creditors are being...
either way... doesn’t that remove our outstanding condition... and triggers the stage 1 investment...

it’s 2(iv) that threw me too... it’s in the text below the table on page 13... full extract...
‘pro forma balance sheet excludes the intercompany loan between emh uk and geomet which is due to be terminated prior to completion (as described in paragraph 2(iv)’...

one thing i’d overlooked originally... was that the intercompany loan described in 2(iv)... is due to be terminated prior to completion... which must mean they will be allotting new geomet shares relative to the $10.7m currently owed... and issuing them to emh uk... before 24april...

thanks bannor... not really... but i think i’ve got my head around it now... the valuation/book value of the farm in deal... of the project/geomet... is on the top line of the table on page 13...

now you don’t... :)
morning frankie...

now you see it...

seems i can now hide and reveal posts depending on how many times i press the chat refresh button... clever... not sure which button to press to reveal the hidden trades yet though...

i’m specifically talking about the ‘share capital contribution’... that’s being contributed to geomet’s registered share capital... that’s currently 100% owned by emh uk...
didn’t really want to confuse that with the ‘equity contribution amount’... or ‘emh loan equity contribution’... which are both being contributed outside of geomet’s registered share capital...

no sorry bannor... i wasn’t questioning that... what i was getting at is that if emh uk owns 100% of geomet... when cez buy €12.3m (22%) of geomet at completion (24th april)... from the already registered share capital... they’re buying them off emh uk... so does emh uk then use that money to pay for the work... as an additional loan to geomet... meaning that on completion of milestone 1... geomet owes emh uk... aus$10.7m + €12.3m...