Member Info for tomcat-14

and will continue to ship the ore stockpiles for the next 18 to 24 months... under the protection of the jrp... whilst we and indosino obtain the necessary operating and environment licenses required to operate the amapá project... to rehabilitate the mine... stage 1 investment conditional on the preconditions relating to the railway licenses and bank creditor arrangements... stage 2 investment conditional on the grant of all operational and environmental licenses for the amapá project... which could take how long...

what are the timescales and deadlines for obtaining the several material pre-conditions required for our 2-stage investment in the amapa project... my interpretation... on the basis that none are stated... is that there aren’t any... and that amapa have started their works on receipt of the jrp approvals... on 30th august... with a 4months mobilisation programme to commence shipping the ore stockpiles by the end december 2019... https://www.lse.co.uk/rns/KDNC/cadence-minerals-plc-approval-of-judicial-restructuring-plan-amapa-omqcte36gtcervm.html ...

sorry bannor...
to add... we should own 20% of amapa by christmas... when amapa is due to start shipping the ore... so whilst the revenue is being reinvested... it should add >= value to amapa... and by association... amapa’s jv owners...

q1... yes... https://www.lse.co.uk/rns/KDNC/cadence-minerals-plc-corporate-update-qur9gpd1ezhqz5g.html ...
q2... the proceeds from the sale of the iron ore are being reinvested into the project... by amapa... it’s not revenue that is to be paid to kdnc...

bcn’s feasibility study gives and npv8 valuation of $1,527/t contained lce...
$1.25bn for 819kt contained lce mined...
kdnc currently own 888kt contained lce in our mexilit jv... measured + indicated class... (excluding el sauz1)...
the potential is there... if nothing else...

that small discrepancy will be due to me excluding el sauz1 concessions... as that isn’t stated as being owned by sonora... it may be... but it may not be...

with our mcap currently sitting at £9m... i’m happy to allocate a minimum £7m to our market valuation for our sonora jv today... i’d never sell it for that though... i’m actually surprised we didn’t buy more at £8.29/t lce... i thought we had 1st dabs on mexilit... or was it last dabs...

also... i didn’t include the full £21,963,740 transaction for bcn and sonora... as bcn includes zinnwald lithium too... ;)

i took the contained lithium drilled out to date from table 14.15.2 of bcn’s feasibility study...
la ventana... 1,981kt lce...
el sauz... 1,090kt lce...
fleur... 1,871kt lce...
total... 4,942kt lce...

probably better that they don’t... 192m shares in bcn... 134m shares in sonora... would give a 43% premium on the value of sonora shares to bcn’s prevailing sp...

based on the price bcn have just sold 22.5% of their drilled out lithium in la ventana : el sauz : fleur... 912kt lce for £7,563m is £8.29/t lce...
kdnc own 888kt lce of the drilled out lithium in those concessions... so at that rate it’s worth £7,366m...

cheers jimb... that clarifies the contradiction in the last bcn rns...
sonora lithium ltd (sll)... is the operational holding company for the sonora lithium project and owns 100% of the la ventana concession... the la ventana concession accounts for 88% of the mined ore feed in the sonora feasibility study which covers the initial 19 years of the project mine life...  sll is owned 77.5% by bacanora and 22.5% by ganfeng lithium ltd... sll also owns 70% of the el sauz and fleur concessions... which are held by mexilit s.a. de c.v. (mexilit)...

frankie... bcn haven’t paid anything to rk for this transaction... the filing confirms the number of shares that bcn have sold to ganfeng... for 22.5% of sonora lithium ltd... the holding company of bacanora chemco s.a. de c.v... as part of their project level investment in the sonora lithium project... none of the rns’s have ever stated the number of shares in sll that gfl would be getting... so if you did work it out previously... you can now check your math... ;)
these shares now belong to gfl... so rk no longer have any legal rights to them... should bcn default on their loan agreement... which is the purpose of the charge currently filed against bcn’s various assets and subsidiaries... as collateral on the rk $150m loan...

are we expecting another allotment of shares in sll... to re-synchronise the shares in issue with bcn plc...

quite likely that they will be the ones leveraging the sp in their favour just now then... including ganfeng now too... as they have pre-emptive rights on their 29.9%... for any dilutive equity raise bcn do from existing shareholders...

i was thinking more along the lines of the latest mre... % of drilled out reserves/resource...

how much lithium do we own overall... it’s not 22.5% by any chance is it...

it still seems very plausible to me... that sonora lithium ltd... will be doing the back end of the lithium processing... the mining and front end beneficiation... being done by a.n.other... for risk management reasons and all...

another subtle... but significant difference... concessions owned by and concessions included in...

that’s what it really says degsie... good to see you correcting you post from the start of this thread... tue 13:05...
so the question is... have bcn rns’d missleading information... or do bcn own 100% of the la ventana concessions and gfl own 22.5% of the sonora lithium project... currently...
(i have been waiting for the deal to conclude and an rns exactly like the one below... to confirm how much lithium was actually included in the deal)...
maybe bcn will correct the error... for regulatory compliance... and report ownership as per the sll jv... similar to how they have reported ownership of mexilit...