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I have now located an industry mining publication of renown that has cover this topic: Yup, "EYES ARE ON SONORA."
In this pub, Gan*s Head has been interviewed but not BCN.
SP Angel has also been contacted for comment since they are London*s TOP Mining Analysts on SONORA.
Mentions Canadians, Americans & Ch but NOT BRITS.
Lithium assets in Mex said to be 4 x in value vs sovereign debt.
Mex org/co already formed etc.
I have sent this openly in Twit to DL as he should know about it and the legislation etc given that he signed the REM 30% JV to the greater SONORA LANDS.
I am not expecting an answer as that is not for open comment but just to let him know.
Yup, SONORA IS THE PRIZE that everyone wants?
News, Fri 26 Mar 2021.
Industry obviously not asleep including SP ANGEL - how can they be given it involves so much money?
As said, I now take my leave of the REM forum and KDNC.Pl
Information is open and available.
There is too much of its not, its not.
That is up to each one as to what level of due diligence they do.
Otherwise, it will be toing and froing and one cant get on with other things.
DL is open and receptive as they are in business and they know that they need to have up-to-the minute info on what is happening or not happening? All norm in business circles. Look at his LKN-he has lots of contacts. If one has no contacts, how can one do business or FIND SONORA as REM did? Now, world*s No 1 ranked for lithium [SONORA, MEXICO]
With thanks.
News, Fri, 26 Mar 2021
what is convenient. However, investment banks etc are more nuanced in not letting matters run but to find out what is going on , on the ground.
In the past, as said REM*ers tell DL as he is interested and listens but not to people who just bag etc.?
If KDNC etc know, they could act quickly at higher levels to ensure that if there is any upset as seen in Mex right up to Head of govt, this does OT FALL ON REM PLC [the JV partner of Sonora Greater Lands]. It appears that REM plc is NOT MENTIONED ANYWHERE OR OBJECTION FROM EVERY MEX SOURCE THAT I HAVE CHECKED. Ah, HISTORY - WHAT WILL IT SAY?
Yes, loads of X and Y about REM & DL - NOTHING FROM MEX ELITES, PRESS, PUBLICATIONS, GOVT OR EVEN HEAD OF GOV.
Ah, now the flowers fall on the other shoe and if they cannot manage change, then it will be their holders NOT REM IF THEY CAN ACT QUICKLY. BUT WHO IN REM? SUCKLING, KIRAN M?
THEY WILL NEED TO CALL MEX AT THE HIGHEST LEVELS TO HAVE A WORD ABOUT REM*S 30% JV. SOMETHING LIKE THIS CANT BE ALLOWED TO DEVELOP AS THE MEX GOVT IS USING ANALYSTS TO LOOK INTO IT IE SPEC OF LICENCES. FACT: SEC ANSWERED MEXICAN PRESS PUBLICATION : HOPE GOVT WILL HONOUR THE AGEE^ 10 YRS AGO.
Its call nip it in the bud to establish REM*S 30% JV SHARE no matter whatever happens. Who*s going to do that and will the highest levels take their call? Ah, now DL is so needed. Dont other say I am naive. DL has contacts - take a look at LKN and how Mcaarthur could get Glen and Macquiare in Aus which the CEO showed pics of him going to London KDNC - all from the horse*s Twit.
I dont know if he can reach the Mining Dept head but I should think he can as he was the one that SIGNED THE AGREEMENT AS CHAIRMAN OF REM PLC.
So, I leave it there. This is what is actually happening on the ground from more than 1 source and press in Mexico - this actually came up BEFORE the REUTS ARTICLE so that proves this has been simmering for some time. ETC.
Up to each to do their own research and due diligence as the FSA advised.
REM*ers are not so much in the front line as they have not been mentioned but the whole of SONORA HAS COME UNDER INTENSE SCRUTINY. Blood presure may go up once the 29%+ is also disc? I dont know but for myself, I am keeping a closer brief rather than just oh, it nuthin - well it has now come to something otherwise SEC WOULD NOT HAVE ANSWERED MEX PRESS BEFORE THE REUTS ARTICLE - SO HE HIMSELF IS COGNISANT.
OBJECTION? REUTS GIVES THE ANSWER FROM MEX PRESS: 22.5% to 50% OF SONORA= GREATER SONORA LANDS NOW 1/2 DOWN WITH THE 3RD PARTY BY EXTENSION AS DISC.
Page freezing so cant correct. 26.3.21 [FROM MEX NOT ME: FOR THE AVOIDANCE OF DOUBT]
@Observer842
1] I usually check MORE than 1 source if I have the time. I spent time last night doing so. ALL THE SOURCES FROM MEXICO SAY THAT THE SONORA LITHIUM IS GOING TO THE USA - TESLA, not Asia Tesla etc.
2] Journalists etc show:
-Pic of Ventana being cleared.
-Still video of Sonora with running commentary in their language.
-Pics of the lithium
-Overhead or sat pic of Sonora to NEVADA Tesla ie 13 hrs+
-Video information that SONORA has gone to "3RD PARTIES."
-One very long article giving a lot of details ie 2023 1s production and 2nd phase 2024 which will cost $350m+ Secker is also interviewed by this more usual publication and he said something like he hopes the govt will honor the contract "made 10 yrs ago." This is PRIOR to yesterday*s Reuters article.
REUTERS ARTICLE
This article quotes Mex press asking about the licences and in specific mentioned the Gan 22.5% increase TO 50% at ~Sonora. In the long article above, it seem that more than 50 licences have been issued and they have found that it is in the main going to Canadian co*s [listed] that have little capital and therefore by extension they conclude - deem it is for "speculation." That was the title of the Reut article. In the video, the mention of 3rd parties now transpires in the Reuts article who they mean.
So, the objection is the 22.5% to 50% per Mex press as it is specifically mentioned. Given this is the world*s No 1 lithium project, well, all eyes are on it including Mex elites, press, publication and govt and finally HEAD OF MEX GOVT.
So, BXN did know given what Sec said to the Mex press.
THE MEXICANS/GOVT ETC NEVER OBJECTED TO REM - DL when they took 30% of the Sonora Greater Lands. ___________________REM IS NOT MENTIONED NOR DL.______ However, pics of Sec etc have emerged etc in Mexico write up.
ALL FACTUAL AS THE REUTERS ARTICLE IS SENT TO ALL INTERNATIONAL OUTLETS PRESS ETC AND THE HEAD OF GOVT HAS GIVEN HIS STATEMENT INC. THE BOLIVIAN HEAD ETC. SO OFFICIAL INFO FROM HEAD OF GOVT & GOVT.
I am not sure if they are aware than this 3rd party holds 29%+ of the Sonora co? Can this 3rd party now buy X% down the line to take operatorship kinda of thing. It is common knowledge that in the UK 29%+ is a technical situ. ALL EYES IN MEX IS ON SONORA and in particular this 3rd party JV.
I cannot inform KDNC of this situation from Mexico and what Sec said to the press as it is not something one can tweet. In the past, REM*ers used to let DL know on Twit but again this is not appropriate on Twit as Sonora is widely discussed there by the Mex press etc.
DL did not answer immediately to the 1st Mex report about the lithium going into USA-Tela so whether he spoke further to anyone I am not sure but certainly it is of interest to the former Chairman of REM [DL] who got the contract in the 1st place.
Everyone in business or in the investment circle cant afford to doze but I am not sure about investors as they tend to like to hear what i
Worth a listen to this 45 minute podcast @news:
"Lithium and the Global Battery Arms Race with Simon Moores" (24 MARCH 2021)
https://hcinsider.global/lithium-and-the-global-battery-arms-race/
===[
Globally, we have begun the transformation to the lithium-ion Economy. Mega battery factories are growing exponentially. The problem is lithium supply. Mining is constrained by available ores and multiyear start up times. Chemical processing and cathode production is technically challenging, environmentally impactful, and concentrated in China. EV manufacturers are buying all the Lithium supply they can on decade-long contracts. Lithium demand is forecast to outstrip supply by double in 2040 – even with the most optimistic forecasts. What does this mean for producers, commodity traders, financiers, governments and OEMs? How can the world tackle the problem of lithium. Simon Moores, CEO of Benchmark Minerals, the foremost independent pricing agency for Lithium walks us through the lithium supply chain and its consequences.
]===
Also available at: https://www.youtube.com/watch?v=mbl9Px1S1e8
In relation to the Sonora lithium supply I thought it worth clarifying that even if all of the Sonora lithium that Ganfeng is off-taking went to Tesla, Hanwa (Japan) have an off-take too which means some is still likely destined to Asia. Additionally, it could be that if Ganfeng do supply Tesla with Sonora lithium it is to an Asian factory, e.g. the one in China.
Exciting times!
Ob.
Observer842,
I am sure you and Barksy1 catch the drift? It was the Mex gov interested in the lithium. However, the press & folks do not appear happy with the sale of concessions [lithium?] per the said Returer report or that is the drift? Anyhow, it also means that SONORA got highlighted in the Reuts report and in species, the 25% to 50%?
That was what we were discussing ie in that it will mean the GREATER JV LANDS.
I am sure the other earlier stories in Mar 2021 will give indications what may have transpired.
So, now with the Reuts story and the one from Mexico itself, it now transpires that the lithium is going to USA and specifically to Tesla. What is going to happen appears to be a GREATER STORY UNFOLDING ie US gov -Tesla & Mexico? The Sonora lithium is after all now going to US SOIL, not Asia at all as one was told via the BCN presentation etc?
At the same time, FOXCONN is going to Mexico to build cars - FISKER*s and the order they have out. BCN themselves tweeted this as well, so that*s another clue about MEXICO and the role of LITHIUM.
Q here is whether they will locate the battery manufacturing in Mexico for Foxconn, Ford etc or will it still go to the USA to Tesla? Or will Tesla move to Mexico adlthough less likely?
This story is going to run and run and we HAVE TO WAIT FOR NEWS.
DL said via a tweet that 1 ship will take $5m*s worth or ORE [I].
This lithium story is big news as with critical metals for EV*s etc. I have just tweeted about Canada protecting their critical minerals, so this could mean a much tighter market given the US gov wants to locate Livent, Tesla to Canada due to issues of mining in the USA. Well, that was behind closed doors so no details as to what the 30 American firms were told in the S EC meeting including Livent, Tesla and who else one is not aware of.
Everything is revolving around lithium and the battery metals.
So, that ends the story thus far. However, kindly understand that I cannot provide any WARRANTY as these are all 3rd party info via news publications.
No one is privy to everything and it is from PUBLIC SOURCES.
News, Thur 25 Mar 2021.
REM*S 30% IS GOING TO BE OF INTEREST NOW THAT SONORA IS GETTING SO MUCH MORE PUBLICITY and press in Mexico is also cognisant of Sonora via BCN-Gan Reuts story today.
Thanks @news. Hopefully any and all expansion plans for Sonora will be "Great for #KDNC" as DL says :-) I do have a keen interest in following the evolving Lithium story, including Sonora, though my current focus is very much on Amapa as I believe news on this is imminent! Certainly shipping news, and potentially even the news which allows us to take 20% of the project - see my posts on the KDNC board for details. I know you are not in KDNC for the iron, and neither was I, but I now see this as a play which should facilitate our rare earth and lithium projects off the back of (hopefully!) a very decent market cap revaluation. :-))))
Ob.
Just to let you know Obs and Barksy1,
Ref: MEXICAN ARTICLE OUT TODAY at almost the same time as the Reuters article about the Mexican govt and greater involvement in lithium - DL did not know about the Mexican article and so it was good he decided to click on the link to read. It was in Mexican and therefore it was more for the Mexican internal market rather than international news via Reuters.
The Mexican article said GANFENG-BCN SONORA lithium was going to THE USA - TESLA.
This must have been stunning even to DL so he tweeted a reply which Barksy1 posted also on KDNC forum.
Well, on BCN they dont know about the Reuters story nor the Mexican one out today.
If one just read the Reuters story, then one knows that the specifics was on BCN-Gan mentioned.
So, the Mexican one is to reveal that the SONORA -MEXICO LITHIUM IS GOING TO USA-TESLA. In this Mexican article there is no mention that Sonora lithium was going to Asia-China so they may not know about this. All they know is that it is now going to TESLA-USA.
So, that now changes THE SITUATION- THE MEXICAN GOVT WILL KNOW AS IT IS A MEXICAN ARTICLE.
Well, its now going to stun even the Mexican govt and the Head of Mexico?
No one knew earlier as no press report said so.
Well, this has to do with REM plc now ie 30% JV SONORA GREATER LANDS- that is the part where its 50 years and then the balance of the 250 years [minus 19 years for Ventana].
To DL, he tweeted that REM-BCN got that TESLA CONTRACT THEN and now back to TESLA,USA?
DL tweeted that "anyway" its good for kdnc?
That is his perspective. So, the story ends here for now. The rest will come out in drips, I am sure.
News, Thur, 25 Mar 2021.
DYOR.
FOR THE AVOIDANCE OF DOUBT:
I have now covered myself fully via
"Is this the most exciting mine project I*v ever seen?"-Money Week, 21 May 2014
https://moneyweek.com/322173/right-side-exciting-lithium-mining-project
"Quote: But REM has big stakes in the areas where lithium deposits have been identified, BASICALLY REM IN RETURN FOR AN EQUITY STAKE & boy oh boy those drill results came in good." - ALL ABOUT DAVID LENIGAS, CHAIRMAN, REM PLC AND REM - SONORA.
Dallasdaz on KDNC.Pl today, 25 Mar 2021 [Thurs] appears to have taken me to task that REM DID NOT FINANCE SONORA etc [see the exact post as I am just para-phrasing] so I am also posting the Money Week article for history to BACK UP the REM story. Well, MONEY WEEK A BIG PUBLICATION STATES THAT REM DID FINANCE ETC [SEE THEIR QUOTE] so if still not satisfied, then Dallasdas has to take it to Money Week but every REM*ER knows it and there was a tweet as well.
SO, ALL FACTUAL AND EVIDENCED.
Takes Observer842.
Mr Lenigas was not aware of the GANFENG-BCN selling the LITHIUM TO TESLA-USA until it was tweeted to him today, Thur, 25 Mar 2021. Hence, why Mr Lenigas responded via a tweet reply to this BREAKING NEWS FROM MEXICO IN MEXICAN.
Barksy1 posted Mr Lenigas*s tweet as above on KDNC.
Of course it is interesting to follow this story.
News, Thur, 25 Mar 2021.
Hello @news. Since you seem interested in Sonora at the moment you might be interested in reading the 20 page document titled "3 Mar 2021 - Memorandum and Articles of Association" at:
"SONORA LITHIUM LTD"
https://find-and-update.company-information.service.gov.uk/company/11349694/filing-history
The only thing I can remember of note was that BCN and Ganfeng own different classes of shares in the company. @tomcat and I had a bit of a discussion on the reasons why. If I recall correctly it could be to enable the scenario where Ganfeng are willing to fund Sonora expansion plans in the absence of BCN being willing or able to. Just speculation of course!
Ob.
@observer842
1]Ah, so, the 66.6% ONLY REFERS TO THE REM JV 1 CONCESSIONS RE SALE OR DISPOSAL, GRANTING SECURITY ETC ----------------THAT*S BETTER. I NOW WONDER WHY THIS SPECIFICATION? Yes, of course, it may need 66.6% given it is SUBSTANTIVE for any sale or disposal, granting security etc.
2]YAH, I WAS AWARE THAT THE UNSHADED PART HAS NO DRILLING OR JORC - IT WAS OBVIOUS, HENCE WHY IT HAS NO SPECIFIC DEFINITION .
3] OK, WE ARE BACK TO SONORA GREATER JV LANDS WHEREIN THE MAJOR LITHIUM IS LOCATED [see REM plc RNS of 2014 re: results and Chairman*s statement [DL] relating to this which I have just posted on KDNC.PL today, Thur, 25 Mar 2021.
BCN 35%
GANFENG 35%
REM PLC 30%
[Sorry to all those in KDNC who do not acknowledge REM but that is in the legal documents and marked by BCN themselves in their presentation map].
4] Obs, so per your post below, we are back to the NORM OF 50% 50% BCN, GANFANG per the Mexico Reuters story of today, 24-25 Mar 2021.
That means as you now acknowledge that OPERATORSHIP IS AS NORM IE 51%. That will have to be decided between Ganfeng and Bacanora and will have nothing to do with REM plc unless they get together with Bacanora to form 30% + 35%= 65% otherwise, the 1% is CRUCIAL FOR OPERATORSHIP OF SONORA eg how Ganfeng paid US$16m to Lithium Americas to gain 1% so that their share comes to 51% from 50%.
That is another day in the coming future as and when.
Ah so, GRANTING OF SECUIRITY CAN BE DONE AS IS DISPOSAL SALE OF REM JV?
Very interesting.
News, 25 Jan 2021 [Thurs].
With thanks.
Hello @news. Some good posts from you today. I thought I'd better clarify that the 66.6% is only related to certain matters, in others I presume it will be the usual 50%:
Page 243 and 244 of the admission document:
https://www.bacanoralithium.com/pdfs/Companys-AIM-admission-document.pdf
===[
shareholder approval (from the holders of 2/3 of the issued shares) is required in certain circumstances including on the issue or grant of rights in shares, borrowing, granting security, sale or disposal of any of the REM JV1 Concessions;
]===
I also thought I'd clarify that the 8.8Mt LCE is the JORC Resource contained in the Mexilit concessions, and is where the 250 life of mine arises (8,800 / 35 = 251). The 50 years refers to the JORC defined Mineral Reserve of 1,666kt LCE (1,666 / 35 = 47.6)
As far as I am aware there has been no JORC resource or significant exploration in the Megalit areas (the large unshaded area on the presentation)
I hope you find the above information informative. For links, see my posts from last night.
Ob.
See the David Lenigas tweet reply to the Mexican news article just out re: BCN-GANFENG selling the SONORA LITHIUM TO TESLA, not Asia.
Barksy1- click open the tweet to have a look.
Thur, 25.3.21 [Thur]
Mr Lenigas has replied to the news article just out from Mexico about BCN-Ganfeng selling the SONORA LITHIUM production output to TESLA IN THE USA although the original was to go to Asia.
This article in Mexican, also out today, Thur 25.3.21 was sent to Mr Lenigas who was the one to have GOT THE REM-TESLA DEAL FOR SONORA LITHIUM.
Mr Lenigas*s reply is on the KDNC.PL page which I have just posted.
Thur, 25.3.21.
BNAmericas has also covered this Mexico story, 2 days ago.
In the frame is BACANORA MINERALS & SONORA -GANFENG STORY as is with Reuters, 24.3.21.
-------
My comment:
So, after 1 night of intensive discussion on Wed, 24.3.21 on this forum and the shock of what I learnt, the MEXICAN GOVT AND PRESS HAVE ALSO CLUED ABOUT SONORA NOW.
If and when they find that the operator of SONORA has to be 66.5%, I am not sure if their blood pressure might rise as is norm when one gets a shock?
WELL, REM IS NOT INVOLVED AS IT HAS 30% FROM DAY 1 AND STILL INTACT OF SONORA.
AH, IF ONLY MR LENIGAS IS NOW IN CHARGE - HE COULD SPEAK TO THE MEXICAN GOVT.
NOW, THE BALL GOES TO BCN - its the 50% OF THEIR SONORA THAT IS NOW IN THE NEWS THAT HAS GONE OUT OF BCN*S HANDS.
Mr Lenigas was going to develop SONORA as far as I can or could ascertain as there is no info that if BCN WAS TAKEN OVER BY REM, HE WAS GOING TO SELL 50% OF SONORA TO ANYONE ELSE. THERE APPEARS NO OBJECTION WHEN 22.5% WAS SOLD BY BCN OF SONORA LITHIUM, MEXICO BUT SELLING 50% HAS NOW BROUGHT PRESS AND GOVT ATTENTION TO SONORA, NO 1 RANKED IN THE WORLD.
As I said, if Bolivia is in the news and a over-throw situ ALL on account of LITHIUM [check the Reuters news of 24.3.21 to see], then HOW MUCH MORE NO 1 IN THE WORLD SONORA.
TURN THE CLOCK BACK .
WELL DONE TO MR LENIGAS WHO FINANCED THE DRILLING AT SONORA LITHIUM, MEXICO UNDER REM, OTHERWISE THERE WOULD BE NO SONORA TODAY.
News, Thur 25 Mar 2021. [REM*er]
CAVEAT: IT APPEARS.
BCN IS NOW IN THE NEWS PER REUTERS ARTICLE BELOW JUST OUT.
IF DAVID LENGIAS, CHAIRMAN, REM HAD TAKEN OVER BCN AT £1, THIS MAY NOT HAVE ARISEN AS HE DID NOT SAY HE WAS GOING TO SELL 50% OF SONORA which the Mexico appear to love?
Its the No 1 in the world and they must take great pride in it - its natural?
Thur, 25 Mar 2021. DYOR.
Latest article from Reuters below:
NOTHING SAID ABOUT REM @30% OF SONORA MEXALIT [greater JV lands] as it has NOT been sold etc.
However, the press asked about Ganfeng INCREASE STAKE FROM 22.5% TO 50% IN SONORA.
As discussed on this forum last night, that MEANS GAN NOW OWNS 35% OF GREATER SONORA because BCN*S ORIGINAL 70% JV WITH REM HAS DECREASED BY 50% TO JUST 35% AFTER THIS TRANSACTION MENTIONED BY REUTERS? So, now 35% GAN , 35% BCN AND 30% REM [ORIGINAL %].
Thur, 25 Mar 2021.
I have just posted a new article from Reuters dated 24 Mar 2021: "Mexico eyes bigger role in lithium industry: sees speculation in mining concessions."
As I said Mexico wants to be big/bigger in lithium and has made mention of the Bolivian situation re: lithium.
GANFENG IS MENTIONED IN THE ABOVE ARTICLE RE: INCREASED STAKE FROM 22.5% TO 50% IN SONORA.
REM HAS 30% SO AS SAID APPEARS TO BE OF VALUE AS ITS A CONCESSION? SONORA IS RANKED NO 1 IN THE WORLD FOR LITHIUM. SO, NOT SURPRISED THAT IT IS OF IMPORT?
JUST AS BOLIVIA IS OF IMPORT IN THE REUTERS ARTICLE WHICH ALSO TALKS OF MEXICO?
Now sure what the Mexican govt is going to do as it said it would NOT affect granted concessions but is now said to be analysing so one has to WAIT TO SEE WHAT COMES NEXT???
DYOR. PLEASE DO DUE DILIGENCE AND CHECK.
Thur, 25 Mar 2021.
Ref: "Midas share tips: REM well placed to benefit from big demand for lithium."-18 Oct 2014[Mail Online].
"Owns 1/3 of a lithium project in Mexico which has already discovered 3.3Mt ...EQUIVALENT to 10% of CURRENT ANNUAL SUPPLY.."
"Shares 1p, Mkt Cap £57m."
"Costs hard rock £2,800 per ton brine £1k and REM*s cost £1k or below cheaper than most rivals. Lithium selling for £4,4k"
----
Ref: "Small cap ideas: Bacanora Minerals offers ground level entry to EV switchover."-Mail Online, 21 Dec 2020
"VSA Capital: BCN HAS A LOWER DIRECT INTEREST IN SONORA....shareholders....
Ganfeng-Top 3 in the world with $17bn mkt cap.
BCN also owns Zinnwald in Germany [lithium] with Erris.- Mine life of Zinnwald is 30 YEARS with a value of $428 MILLION IN A STUDY."
----
ZINNWALD - 30 yrs mine life $428m value put in a study.
So, a 250 year mine life potentially for SONORA RANKED NO 1 IN THE WORLD - one can do some simple maths although the jurisdiction is better in Germany being in the EU. Zinnwald has a seperate listing in London.
----
REM HAD A 20% STAKE IN BCN AND 20% IN EMH, Europe*s largest lithium deposit in Czech Republic, EU. The 20% stake in BCN is no longer current but the EMH stake is still 10% per last reporting [EMH had a recent mkt cap of some £175m or so.]
Thur, 25 Mar 2021.
contd
otherwise SONORA would NOT EXIST as co*s in Canada could NOT raise capital at the time [historical ]. Hence, how David Lenigas took a shell and renamed it REM plc starting with a £1m *s info of £95m]. Most bought in at 0.9p or 1p.
REM - SONORA
So, effectively, BCN-GANFENG NOW OWN 70% [35% 35% EQUALLY via 50% stake in Sonora by Ganfeng?].
OPERATOR HAS TO HAVE 66.5% per Observer842 with thanks and link.
*******SO, IT WILL NOW BE OPERATOR, SONORA 66.5% ---VERSUS ---- REM AT 30%.******
How BCN and Ganfeng will settle the operatorship status will be subject to more news and that is not within REM *s business or remit.
----------WOW! REM IS NOW 30% VS 66.5% OPERATOR.------------
------REM HAS OVERNIGHT BECOME THE JV PARTNER WITH THE OPERATOR-----
---REM STAKE OF 30% IS NOW ALMOST EQUAL TO BCN 35% STAKE [for now]------
---REM HAS GONE FROM 30% VS BCN 70% PREVIOUSLY, a smaller player to a SIGNIFICANT PLAYER--------
BCN has a share price of <45p, MKt Cap £145m.
REM-KDNC @18p has a mkt cap of <£24m. I have not checked today so just approx.
B
Well done to Mr David Lenigas, Founder and Chairman of REM plc who put shareholders in this enviable position by way of his CONTRACT BNC- REM. The word REM is marked in the map for the 50 years part of the next SONORA shaded part.
I cannot provide any warranty and hence up to each one to do due diligence and research & checking. This is only for discussion only.
News,
Thur 25 Mar 2021.
Thanks to Barksy1 [REM*er from days of old] and Observer842 [old-timer in REM] and me on this open discussion. Pity Ivybush did not take up my invitation to chat here with any input.
This discussion is open to all as on KDNC.pl, I did say that info about Sonora was on this forum which is appropriate as REM IS NAMED IN THE SONORA AGREEMENT - MAP AND NOT KDNC.
REM was later named KDNC after Mr Lenigas was no longer Chairman.
DYOR.
[35% BCN, 35% GANFENG TO DECIDE CONTROLLING % BY WHATEVER WAY in terms of further corporate moves]
---------SONORA LITHIUM, MEXICO - NO 1 RANKED GLOBALLY -----
[ref: Mining Technology of 10 Largest]
BACANORA - GANFENG
Ganfeng paid 25p to take a 29.9% stake in Bacanora.
Also, Ganfeng took a 22.5% DIRECT STAKE in Sonora that in Nov increased to 50% exercise option of £21.9m.
[Ref: "Bacanora Lithium gets big boost as Ganfeng ups stake in Sonora."-Proactive Investors, 17 Nov 2020.
--------
REM used to own 20% of Bacanora stock - the Canadian rules were that any holder of a 20% stake can make a TAKEOVER offer. Indeed, that did happen and BCN said that REM offer £1 which they rejected.
In the UK, the takeover rules are DIFFERENT is it needs 29%+ for a takeover. So, hence, Ganfeng has 29.9% [NO FURTHER DETAILS given as sometimes there is more detail about the 29%+ threshold].
-----
GANFENG -50% OWNERSHIP OF SONORA with BCN.
So, what Observer842 said is correct.
Mexilit SA de C.V [El Sauz & Fleur] that used to be 70% OWNED BY BACANORA [BCN] & 30% REM will now turn into 35% BCN, 35% GANFENG [by virtue of the new 50% ownership by Ganfeng of the SONORA CONCESSION etc ITSELF] & 30% REM [the original co].
OPERATORSHIP OF SONORA
Per Observer842, the detailed fine print is that the OPERATOR of Sonora Mexalit has to HOLD A 66.5% SHARE NOT THE USUAL 51% [1% more than 50%] as is the norm.
SONORA MEXALIT
The shaded part which has studies etc done is for 50 YEARS vs 19 years for the 1ST VENTANA PRODUCTION [88% lies in Ventana that BCN used to own 100% but now cut down to 50% as above]. SONORA HAS A POTENTIAL MINE LIFE OF 250 YEARS so both the shaded part [50 yr mine life] and unshaded part of Maxilit forms THE LARGER AND BIGGER MINE LIFE POTENTIALLY [ 250 years minus 19 years minus 50 years = 181 years].
BY WAY OF COMPARISION, THACKER PASS, NEVADA, USA OWNED BY LITHIUM AMERICAS HAS A TOTAL MINE LIFE OF 46 YEARS - THACKER IS RANKED NO 2 IN THE WORLD. Lithium Americas owns Thacker Pass 100% and has a mkt cap of some $2billion+ with 2 projects ie Cauhari in Argentine and Thacker Pass. Ganfeng has just paid $16m to gain the extra 1% to bring its stake in Cauhari, Argentine to 51% [assume ownership if norm as normally 51% has operatorship?].
WHAT HAPPENS TO THE GREATER SONORA LANDS - MEXALIT?
Since it is specifically written that operatorship has to be 66.5%, that means that ONLY BCN & GANFENG [35% + 35% = 70%] can become the OPERATOR as this meets the threshold of 66.5%.
BCN cannot get together with REM to form the OPERATOR [35% + 30% = 65%, SHORT of 66.5%].
Can BCN and Ganfeng become EQUAL OPERATORS? They can but usually there is only 1 operator and joint operatorship is not the norm per my own personal experience only? So, if Ganfeng UPS their stake FURTHER in SONORA PROJECT DIRECTLY FROM 50%, then it is possible that they have a slight % edge over BCN. This is outside the scope of REM as shareholders are only interested in REM plc under David Lenigas as Founder and Chairman who brought in this project
ANOTHER DL CO IN THE NEWS: AOU
A tweet: "This ASX stock to help BHP help Tesla.
Named is Vulcan Energy : +1, 638% [this is the Australian lithium co that has a lithium proj in German. Gina Rinehart and son are big stake holders. Yeah, she knows how to hedge iron O."
EMH is named also. - a DL pick.
Now, Auroch is making the news for nickel - a DL pick for KDNC.
Its all over Twitter among Aussies but I have not looked into it yet in detail.
https://twitter.com/PilbaraWolfee/status/1374540743079989249 19 hrs ago.
Wed, 24 .3.21.
Since so many people are talking about AOU for the nickel and maybe lithium, it could be they hit...? biggish? big? Will find out when I have more time. NICKEL IS A BATTERY METAL which Elon Musk is chasing after and that*s what he says he needs.
Oh, I cite the example of Solgold. Solg owns for example 85% of the licence and the other 15% is owned by the other co in Canada.
Solgold not so long ago made an offer to buy this 15% from the other co in exchange for shares. Why? Apparently, it is more difficult if there is a 15% holder but they chose NOT to give details but this is something generally known especially in property issues.
Ah, so.
Mr S also talked about 20,30 and 50kt from recall at the video interview, 3 wks ago but did NOT mention about the JV*s but he did say that the placing was done at 20% discount.
Foks are like in a spin as to why their co is lower than EMH, another REM investee co in terms of mkt cap.
Well, the market may be cognisant that the perceived mkt cap is to the % held, hence why Lithium Americas has a $2bn + valuation ie mkt cap and so have many other co*s that have no JV.
Just for discussion as to the merits and non-merits of JV*s etc and how it is difficult.
Now, there*s 3!!! LoL, even more complex now.
REM 30%.
When those folks that are asking find out they have 35% I am not sure what happens next?
Their blood pressure may go up.
Obs,
SNAP!!!
I was looking like ....to find out. BCN at £145m for 70% of SONORA, the most desired at NO 1 ranked or KDNC at 30% at £24m. That sounds like a A level paper question.
Exactly, I was doing the EXERCISE TO FIND OUT EXACTLY THIS.
I was chopping KDNC MKT CAP into tiny bits to find this out as to how far there is give or FREEBEE in the price.
Secker NEVER mentions REM in his video*s as if it does not exist at all ie Cruxinvestors video, 3 wks ago.
Yeah, if anyone want to do they have to do LOADS OF SUMS and how this is going to play out.
Will REM WIN ROUND 2?
REM lost ROUND 1 ie takeover?
Is there a slip and DL had the greater legals to draft the REM-BCN agreement?
Ah, one would like to see that agreement and take a magnifying glass to the SMALL LETTERS.