Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Sharealot
No to be honest but provided you got it in, and have received confirmation, then you will be fine. Just have to wait I'm afraid, like the rest of us. Some have their ZNWD shares already in their accounts, I haven't as yet - but then again my broker is always slow
Got my accepted offer into late with IG, Does anyone know how this will pan out for me?
I use iweb and no sign of ZNWD shares?
Hi foz. What do you think GF will do with their ZNWD holding, which I think is 8.5% ish?
Not concerned one bit about znwd shares they will be back to 20p once all this overhang clears. Much more interested in their prospects that messing around with bcn anymore. I also am highly confident the German govt blocks Gf so they won’t want the risk. I’m happy adding znwd.
Yeah, wasn't really worth the wait! ;P ZNWD looking kind of cheap now! Actually may buy a few more if they stay under the last raise price.
Dave
Think everyone her is pretty disillusioned. Been an active little board the past year, feel I almost know some people!
I'm pretty angry about what's happened, now I've got shares in Zinwald and guess who's on the Board as non exec? The rat who sold BCN out. Now BCN has ceased to be a (30%) shareholder I sincerely hope he'll get his P45
Okay thanks johnpwh. Without any reassurance about my shares ending up in limbo and with my massive lack of experience in AIM trading, I'm going to sell. Not that I have many shares of course compared to most.
Bannor, dave
The quote from the GFL offer RNS is, to be fair, a disclaimer. It doesn't necessarily imply that is the intention, but it does help to cover them against future disgruntled BCN shareholders.
However dave - 'Is it possible for our shares to be in an unsellable state with no dividend ever paid?'. Yes, its possible, of course it is.
Definitely the last last post LoL
Below is an extract lifted from the RNS'd GFL offer announcement - if it's unclear to anyone here I'm sure there are those here who will explain it to you in detail, failing that take it up with GFL/Secker & Co:
-----------------------------------
There can be no certainty that Bacanora would pay any dividends or other distributions or that such minority Bacanora Shareholders would again be offered an opportunity to sell their Bacanora Shares on terms which are equivalent to, or no less advantageous than, those under the Offer.
Bannor: your posts are borderline incomprehensible so I ignore them. You need to learn to proof read. Sort your grammar out. I suggest pasting into MS Word and fixing it in there with the suggestions it gives, then copy and paste back here.
How is this a "gamble" if we do not accept the offer? Can GFL steal our shares? Is it possible for our shares to be in an unsellable state with no dividend ever paid?
OK this will be my last post then .... Lots of exploration work already undertaken at the JV's:
Bacanora Lithium PLC has responded to proposals of new legislation from the Mexican government in regard to lithium concessions.
On 1 October 2021, the Mexican government submitted to Congress a proposal for constitutional changes with the primary objective of strengthening the state electricity company.
As part of these reforms, future lithium concessions would be held by the state.
The new reforms will not affect lithium licences already granted to private companies, provided exploration work had already commenced and all licence requirements had been met.
It is the view of Bacanora that it has met these requirements, including through the commencement of early construction activities at the Sonora lithium project, the company said in a statement.
Well yesterday I decided I couldn't risk tying up all my holding for an indefinite period so I accepted the GFL offer on 15k shares and rejected on another 8k to see if a better offer comes. I hope/believe there will be a revised offer to get rid of us pesky small shareholder but assuming there isn't, and they don't get to 90% approval, what are people's thoughts on ways we could be shafted?
GFL could refuse to buy us out and lock us in but I'd have thought at some point (years from now) dividends must be paid in order for Ganfeng to access the profits of BCN, and with that we will get dividends too.
I've tried to read up as much as possible but what might an average investor (me) have not thought about?
Can BCN be reincorporated abroad? Can BCN 'vote' to sell the mine to GFL directly for a pound?
The KDNC technically isn't under development.
Surely The Mexicans will nationalise it and then attempt their own JV/separate deal with Ganfeng?
I’d be concerned kdnc gets nationalised…why not? Makes sense for Mexico now Gf on board.
Well now that my shares have magically appeared, i feel like its real.
Last past here then....
Fozdog ... Understood & each to their own absolutely you should invest/ do with your money as you see fit.
Dee .... I have known & conversed with TC for years on these chat boards & believe me when I say there are few posters whose thinking/commentary I would put as much store by as his, additionally I have absolute confidence he knows & understands what he's doing & all its implications .... You on the other hand I've only known from your campaign here in the last month's, a few comments when you were attempting to woo KDNC shareholders to your cause & an unsolicited letter I received in the post.... I can only hope your 'principles' if that's all your resting this on don't lead you & others following your lead down a rabbit hole where the rules , funding & decisions are unknown, uncertain or unclear.
As for KDNC personally I can see GFL getting getting them out of the way ASAP buying them out under an offer I would probably consider wholly insufficient but our BoD will paint as a fantastically successful outcome .. as for a cash call (if that happened) KDNC will have options both by being on AIM & I'm sure there will be institutions more than happy to fund for the benefit of the co being able to access up to 30% of produced Lithium material (that would be KDNC's to sell not GFL's but that's getting well ahead of where we are currently) but as I said I expect KDNC to be bought out & they have more than just the one asset unlike BCN .... any cash call would be proportionate to the extent it benefitted extraction from the JV's currently at what .... about 12.5%.
As said I'll leave you all to it & trust me when I wish you well & hope it does all pan out as you wish for you whatever you & others choose to do.
is that a swan song i hear… or the christmas concert playing in the background…
Telegraph article
The Chinese takeover of a British lithium miner is on the verge of success after a major investor backed the deal.
Jiangxi-headquarted Ganfeng Lithium needs 75pc support for its £285m takeover of Bacanora to succeed, at which point it would delist the firm from the stock market.
It has already had approval from shareholders with 45pc of the stock, and owns 28.9pc of the shares itself, bringing the total to 73.9pc.
However, The Telegraph understands a major shareholder controlling about 5pc of the shares, and who had been holding out, will now back the deal.
The takeover comes despite fears that it will put even more of the world’s lithium supplies under Chinese control. MPs have claimed the deal raises security concerns, while a group of retail investors accuse Ganfeng of undervaluing the company.
Chinese companies already control about 90pc of rare earth mines globally and make 80pc of lithium ion batteries.
The major shareholder, who did not want to be identified, said they had considered these issues but that the deal represented a “prisoner’s dilemma”.
It means Bacanora is now almost certain to be delisted from the London Stock Exchange.
MPs have previously urged the Government to investigate the deal. Ministers are understood to be monitoring the situation and could still opt to intervene.
Shenzhen-listed Ganfeng needed 75pc backing by the end of this year.
It has faced opposition from a group of 500 minority investors in Bacanora controlling 8pc of shares, who argue it would allow Ganfeng to “corner the entire lithium space”.
Another potential hurdle was regulatory approval in Mexico, where Bacanora’s mines are located, but Ganfeng confirmed last week that this had now been granted.
Ganfeng has already agreed to acquire 75pc of lithium produced by the second phase of Bacanora’s Mexican mine, with the first phase going to the Japanese company Hanwa.
Sir Iain Duncan Smith, the former leader of the Conservative Party now tipped for a return to the Cabinet, has previously accused ministers of being “asleep on the watch” over the takeover.
Its pay walled sk i can only read the headline
https://www.telegraph.co.uk/business/2021/12/21/china-claims-victory-battle-british-lithium-miner/
Bannor I know you like to come here and mention kdnc time and time again…it’s down 22% in last 6 months. I’m not touching Mexico mining I would be surprised if sensible bcn holders touched kdnc here I certainly won’t.
Bannor seems to think that if Ganfeng issue a $600 Million total cash call, then KDNC will be able to raise their share of the funds with a £30 Million Market Cap. at 30% of their concessions, that's $180 Million.
If KDNC could raise even half of that money, they'd have developed a project by now.
Private shareholders will have personal requirements in an unlisted company, but with modest stakes it can certainly be affordable if people are that way inclined.
A lot of us staying in are doing so on principle.
and i won’t mind if they reinvest my profits into the sonora lithium project #2… rather than pay me a dividend either…
i won’t mind funding my % of the project… if and when they do come and ask me… lol…
LoL TC I didn't get the number from anywhere it just helped form the comment/question (as I said just interested on thoughts but if it's hit a nerve no worries I don't actually need a response & will leave you with it after this) but in any event whose to say what GFL will do in respect to funding (existing or otherwise), expansion or exploitation when they have full control..... just commenting that it would be a concern for me holding a position in an unlisted company that you have even less control over than one on AIM....
I get that many are holding out for a better return but how sure are you it will come this from the offer wouldn't leave me overly hopeful:
There can be no certainty that Bacanora would pay any dividends or other distributions or that such minority Bacanora Shareholders would again be offered an opportunity to sell their Bacanora Shares on terms which are equivalent to, or no less advantageous than, those under the Offer.