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Fozdog - Good work we are in an information vacuum here. The longer the BOD go without 're-assuring' shareholders the more we are all going to think something deeply corrupt is going on...
Mr C, Iv emailed Kwasi Kwarteng mp regarding this. I have also emailed a Corp legal firm to look at those options as and when we know more.
I mailed M&G earlier asking them their view - if they are a NO we may have a chance of overturning this. This type of scenario seems to be happening more and more in AIM junior miners/oilers have now seen this rug-pulling exercise several times.
I think this is very close to the truth Nomad -- in these types of companies it is sometimes better to see the short horizon, however it would be very much at our expense and TRUST over years.
It’s always better to learn from other people’s mistakes, than from your own. What I have learned here is that many people bought a story, rather than shares in a business. Buying a story can be profitable, if the story spreads and you are among the first to hear it and can trade it off to a greater fool. But in the end, numbers matter. Will the business ever become profitable? And if so, how much are those profits compared to those from other opportunities?
Any investment deserves such research into its assets and liabilities, but also some insights into its investors. Are they people who make ad hominem attacks on those who questions or criticize? Do they include someone who will assume, quite ignorantly, you are a rare pro-Trump, anti-Brexit troll? Will they make fun of your name while ignoring your point of view? Have they no sense of humor?
Very good article that touches on all the issues - hopefully someone puts it in front of Secker et al. I'm convinced this offer is only recommended as the board would much rather realise a few million each now, rather than say £5m in a few years. It's an end game and get out for them - for us, it's disappointment after funding their life for the last five years.
MC very well put so basically the guys a twat ??
Softrock - point taken, but on principle I never filter !
MrC. Time for you to put BB in a green box. Don't feed the trolls.
Bob - Lets look at the facts, you say you have a small stake here. You have been posting large complex negative posts here that look informative and are in many ways not 100% verifiable. You are exhibiting all of the hallmarks of an agenda-ridden poster - in this case a deramper (the psychology is the same for ramping also). If you had told us what you thought about the region environment/politics etc and left it there, I'd say fair enough. But now you are looking as though you just want this deal to close either for a quick buck or because you are 'in-league' with the company !
The town does not have a stable water supply for its 1,000 inhabitants -- and now another 1,200 are going to show up? Read the Bacanora annual report and the references to water seem to be mostly concerned with how management's stock options are underwater. The decent thing for the Chinese would be to contribute enough to the town's infrastructure to assure an adequate water supply for both people and mining. Assuming that can be done in a drought they can afford it, especially considering the diplomatic benefits but their British partners can't.
Mexico takes great pride in its nationalization of the petroleum industry in 1938. That legacy is preserved by the current political movement, Morena, which elected the President and whose senators are looking at the Bolivian model of nationalizing the lithium industry. Is it less likely that they will do that if the new colonial power is China? Questions like that are what contribute to greater risk.
Some more information from the same article...
"Marie Antoinette only dreams that her son can return to practice in her town, when she opens the Bacanora Lithium open-pit mine . Although he is unaware of the entire project, he believes that this is more likely to happen now that the company has begun preparations to start its second phase: the construction of the processing plant on the outskirts of Bacadéhuachi, in Rancho Las Perdices, where at least 25 people -with a majority of locals- they are already working on clearing 27 hectares."
"for them it means a hope to revive the town that lacks sources of employment"
"As reported by the Government of the State of Sonora, Bacanora Lithium would generate 1,200 jobs only for its construction phase"
"environmental pollution from lithium extraction "is not much","