Member Info for tomcat-14

why would the price have moved up?… you are buying back shares you have just shorted with the 1st buy… and you are buying up shares that the frightening sellers you just mugged have sold with the 2nd buy… isn’t this standard trading practice… but just seen here on a bigger 2m share / >£500k scale…

looks like both are buys if you ask me… the 1st to close a short used to drop the sp… the 2nd to buy cheap shares that they’ve managed to rumble with the short selling… was it you nookie…
the trades leading up to these were…
27.00 buy… 26.92 sell… 27.475 reference buy at the same time as these large buys…

if it’s a rollover… where’s the original buy in the last 20 days…

dev isn’t listed on any exchange over the pond… or anywhere for that matter… it’s a private company… the only way to invest into this amapa iron ore project… is via kdnc… ;)

chippy 1st…

if they both sail with over 45,000t ore it is…

now docking pier2… hs…

it’s indo’s ore… ;)
who else has any ore in our private port…
indo… banks… ??? no-one…

remember this… http://irservices.netbuilder.com/ir/cadence/newsArticle.php?ST=REM&id=311428211518388738 …
the banks were given a 60 day deadline to execute their guarantees or agree a settlement…
anyone want to guess which option they chose… now that that deadline has passed…

nice to see that 1st hand now… opening up p2 for ore dispatch will certainly be a game changer…

it’s close…

nearly bannor… but i think it’s even better than that… indo have already signed up to the jv agreement to transfer their full credit to pba…

on completion of our $6m investment… we will own 27% of pba… 27% of the 1.71mt indo sino stockpiles (0.46mt)… 27% of the $110m current running av net profit ~$30m… (no brainier obviously)…

then for every bit of indo’s 73% that they take out / default… we get cash and / or pba shares… whilst leaving enough to cover the remaining $24m dipb investment…

i’d imagine there’s a nominal figure ($141.14/t 58% fe)… that ties in nicely to the remaining $24m dipb payment… that results in us attaining the max 49.9% ownership… without us actually paying another penny…

if the ore prices had gone the other way… then yes… we would have needed to raise the remaining $24m dipb investment… rather than topping it up from the stockpiles…

they have 3 stockpiles…

on completion of cadence's investment (not including the first right of refusal) our joint venture partner indo sino will own 73% of pba by assigning its registered creditor rights and pledge over three iron ore stockpiles it holds in the amapá project to pba...

the agreement also contains security and default clauses which if triggered causes an upwards adjustment mechanism to allow cadence to either receive cash from pba or receive additional shares in pba... in the latter case cadence's shareholding in pba will not go above 49.9%…

1.1.30. "indo sino credit" : is the credit held by indo sino against the debtor… in the amount of $49,140,000… currently indicated in the list of creditors in the class of unsecured claims… but subject to appeal so that it is considered the pledge guarantee of 1,718,338 tons of iron ore…

indo sino credit = $49,140,000… ;)

1.71mt x $64.20 = ~$110m…

a more likely scenario where the value of the indo sino’s 1.71mt stockpiles… far exceed the value of investment required…

our increase from 27% to 49% may not involve any payment whatsoever… but will be caused by indo sino reducing the amount of their credit that they assign to pba… ;)

owner = dev… as stated on the export docs…

$9,216,063 / 143,547t = $64.20/t av net profit… ~45.5%…