Cadence Minerals Share Discussion Threads

[golden prospect] 27/10/2020 11:28

Back to Back shipping ? News beckons.

[golden prospect] 26/10/2020 17:41

Would be great if Amis Hero is the 2nd planned shipment, again on close watch.

[mr.oz] 26/10/2020 15:48

And another iron ore cargo shipplanned to arrive 9th Nov for 5 days

Amis Hero

[metis20] 26/10/2020 14:34

ETS now 28th of this month. So we hope for an RNS either Wednesday pm or Thursday?

[golden prospect] 26/10/2020 14:34

XIN HAI MING ZHU
Cargo Type = IRON ORE

[metis20] 26/10/2020 14:26

Copy and paste Av. Odecia Marques Pereira - Novo Horizonte into a google map search and then choose the satellite view.

I am now more interested in those three stockpiles of what may well be iron ore that are situated just above the left hand silo.

"Independent surveys of these iron ore stockpiles indicate that some 1.39 Mt of iron ore in three stockpiles are available for immediate export with an average Fe grade of 62.12%."

14 April 2020 RNS
"Brazil’s Commercial Court of São Paulo has ruled that DEV Mineração S.A., owner of the Amapá iron ore project (“DEV”) can commence the shipment of the iron ore stockpiles situated at DEV’s wholly-owned port in Santana, Amapá, Brazil.

Independent surveys of these iron ore stockpiles indicate that some 1.39 Mt of iron ore in three stockpiles are available for immediate export with an average Fe grade of 62.12%."

[golden prospect] 26/10/2020 12:42

metis20, the superimposed image serves to demonstrate that the position is spot on for loading the brown stuff. A great waiting game.

[dubjon] 25/10/2020 21:17

Better volume and a strong close on Friday certainly augurs well for an even better Monday. If the iron ore news comes in, we can expect a decent jolt of verticality in the chart. My boots are full to the brim. Fingers ctossed!

20p target short term, 40p medium term?

[mdchand] 25/10/2020 18:21

All - just catching up with all the posts. Just to reiterate what we know.

1. The Santana port is wholly owned by the DEV - which Kadence owns 20% (or will do very shortly).

2. The port has 1.39 Mt of iron ore in three stockpiles which are available for immediate export with an average Fe grade of 62.12%.

3. The port's own website confirms Xin's load as being 'Ore'. Its GRT 29,862 Tons & DWT 52,508 Tons - hopefully someone brighter than me can figure out its capacity.

3. Current Iron Ore 62% prices - $120 per tonne. Value of stockpile before shipping / broker costs - $190m.

I can not find any evidence that would suggest Santana is stock piling anyone else's Iron Ore supplies, so we have to assume that any iron ore being loaded at Santana must belong the to the DEV.

From previous RNS, we know that the DEV is permitted to export sufficient iron ore to realise a US$10 million profit from the Amapá stockpiles at the port (after the deductions of all logistical, regulatory, shipping and sale costs).

The first of the net revenues from the sale of the stocks shall be used to pay historic small and employee creditors (~US$2.5 m). Thereafter funds will be used to begin recommissioning studies on the asset including plant, railway and port and to start maintenance and monitoring of the current tailing dam facilities (~ US$ 6 m) and provide ongoing working capital and historic finance obligations.

It may be the case that the courts are allowing the Iron Ore to be loaded and sold without Kadence 20% share being finalised, but all the indications would suggest that this must be a formality.

Hopefully we will get an RNS Monday to confirm the above.

[metis20] 25/10/2020 17:23

GP - the screen you are looking at has the bulk carrier icon superimposed on a google map aerial view from some time back . To see this copy and paste Av. Odecia Marques Pereira - Novo Horizonte into a google map search and then choose the satellite view.


If you then go back to the map option and place the little yellow man on the crossroads between Frimap and Companhia Docas de Santana, and then look south, you will see on the left in the distance a large pile of what looks to be iron ore. This street view almost certainly was shot after the satellite view....ideas to play with..

[golden prospect] 25/10/2020 16:59

There is bound to be some excitement on Monday.

Compartments (as viewed left to right) 1, 4 and 6 are with brown stuff, whereas 2,3, and 5 are shadowed black as if empty. The filling arms currently appear to be over 3, and 5. One to watch.

[soggy] 25/10/2020 05:08

Thanks for that useful link to the port's website mdchand. It's been updated and now shows Xin as arriving on 22nd, due to depart 27th, and also confirms the cargo is minerals. Statement of the obvious, I know, but adds to the seeming confirmation.

[bobbybullet] 24/10/2020 20:47

Is that you maddog?

[golden prospect] 24/10/2020 17:51

MM2, it's hats off to the folk over at LSE board. They have been tracking this ship for days, and several days ago one could argue just pure speculation. Now seeing a bulk carrier dock next to only one seemingly possible bulk supply, namely the stockpiled iron ore of which KDNC is an expected party, is sure to be exciting. May be deluded, but potential for substantial gains for a minnow.

[mikemichael2] 24/10/2020 09:22

If you put it in 'Deluded mode' there's nothing there!!!!

[golden prospect] 23/10/2020 15:47

Wow, switch into satellite mode and I can see Iron Ore piles !!



edit:
a bulk carrier sitting next to our stockpiles, does it get more obvious ?
[ plus cadence have been tweeting iron ore prices !]

[golden prospect] 23/10/2020 15:41

Looks like it has docked near the end of a railway line. Now a waiting game.

[mr.oz] 23/10/2020 15:13

So, docked yesterday evening and expected to leave 27th?
Have I got that right?
Thanks

[metis20] 23/10/2020 11:45

From 28 August RNS

"Cadence will provide an update once the first shipment is underway."

"Iron Ore Stockpile Shipment - as announced on the 21 August - Companhia Docas de Santana ("CDSA"), a public (municipal) company and the port operator requested some additional non-statutory contractual requirements and undertakings. DEV has provided the requested documentation and continues to liaise with the State of Amapa and SEMA (Secretaria de Estado de Meio Ambiente). Cadence understands that SEMA will provide the required documentation imminently. Cadence will provide an update once the first shipment is underway."

[wolfcub] 23/10/2020 09:46

Added a few more this morning, as hopefully, we get positive news next week :)

[mdchand] 20/10/2020 13:09

Hmmmmm - as someone who has been here a long time, I can understand why people are getting excited about XIN's ship movements. However, I also note from the recent RNS the following statement'

In addition to the above, and while the settlement contract is finalised, DEV and Investors have requested that the Bank Creditors and DEV submit a joint petition to the higher court to remove the Bank Creditors appeal and the subsequent interim order. As a result, operations at Amapa, including the shipping of iron ore stockpiles will be temporarily suspended while the petition is agreed, filed and approved.'

So while it is theoretically possible that XIN's is destined for Santana, I can't believe Cadence would have hired an Iron Ore ship without issuing an RNS confirming the lifting of the suspension - especially as Cadence are pretty trigger happy when it comes to RNSs. Happy to be proved wrong though.

You can also check ships docked or due to dock at Santana directly on the port's own website (link below), and I couldn't find XIN's name on it - albeit this was last updated 9th Oct.

hxxp://www.docasdesantana.com.br/index.php/component/content/article/13-informacoes-operacionais/programacao-de-navios/308-ano-2020#navios-cais-1

ps for those of you who are really smart, you can access Brazilian court cases online - assuming you understand Brazilian or believe google translations!

[golden prospect] 20/10/2020 10:00

This is the boat LSE posters are getting excited about




Take a viewing seat !

[videologic] 20/10/2020 09:51

JohnThanks for that update. Added a few more this morning.