Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Yes Foz and @john 75% is a legal requirement to delist.
Jon for them to delist I believe they still need 75% of the voting capital, so no I cant see them doing that.
Plus why bother? Again if you are getting to 65% just offer 10% a £1. I expect even Dee's group be hard pressed not to accept £1....30p more can be covered from them just selling Znwd stock.
'My heart says hold out, my head says accept.' Why?
Even if over 75% to 90%. These folks could end up with a better offer in a year or 2, once the weak hands have accepted and the legal period where all offers have to be increased has elapsed. I think Ganfeng want full control here and if it takes them a couple of years more to get that then they will wait. I do not think that they will rest on their laurels and not develop this site quickly, it is just too important in order to hit their production targets. So I am not sure that your head is correct.
I am a bit puzzled as to why people are still to-ing to fro-ing on whether to accept the same offer (made for the 3rd time now) or not. I would have thought that most would have decided by now. It is almost as puzzling as to why posters who have long exited a position here or decided to accept keep coming back to talk the share down?
The ball is in their court. Patience is a virtue and all that.
https://www.mining.com/barrick-takes-acacia-mining-back-as-buyout-deal-sealed/
Foz
GF have indicated that 75% is the level to take private. Lets say, for sake of argument, that they end with 65% so that they haven't reached that level but are easily majority BCN shareholders. Would there be anything in the regulations stopping them from changing their mind and applying for a delisting at this lower level?
Ethotheipi, think If and that’s a big if it doesn’t get through Mexican anti trust it depends why.
If it doesn’t all those touting kdnc will be concerned and time it’s taken is not positive for kdnc.
I don’t agree with your assessment on one, the vote is above 56% the shares are in escrow. So for that to change means m@g have changed which is a positive!
If doesn’t get through Mexico anti trust reason why does matter.
I still believe Gf want this project online and up and running, and will become a focus. Therefore if it pulled back because didn’t get done that would be well supported in my view (I’m a buyer at 45p for sure!).
On point 2 you can’t just claim a crash every-time!! Numbers matter, 72.2% could revert to a scheme, 70-74% think brings more people to accepting and they get through to private….60-65% which is where “feels” heading as they would have picked up Acceptances during stock weakness.
Then it comes down to Gf, do they really want all the reporting, restriction, U.K. admin of aim and costs that go with it? I’m not convinced.
For the share to go crashing needs someone to short or sell aggressive, 65% liquidity is gone (well 65-gf 29 and mg 14), dangerous short to play…not much free float and some pretty hardcore long term holders here with Dee think big representing 10% ish of that.
I still think Gf and bcn have levers to pull to get this through, if they just ponied up would make it a lot easier for them.
Point 3 re private, they still have reporting requirements, still U.K. based, still have shares but harder to value. I still think Gf don’t want you along for the ride so paying an extra bit to those sat private it’s negligible for them imo.
@Ethotheipi - sell a chunk now, leave as much as u want for the ride?
U are in an enviable position, most posters here will have been in longer and their gains from this deal will not be as substantial. Option 1 has passed but sp could retrace if Mexican approval is not forthcoming
I started taking an interest in investing about 18 months ago, it's been a steep learning curve and will continue for some time. I have a small holding in BCN currently making a 100%+ profit. I've been reading the posts, some of which have been very informative, bickering aside, but I'm not entirely sure I understand the implications of the recommendation to hold out for a better offer. Here's what I think I understand, please correct me if I am wrong.
1.) Less than 50% vote in favour: nothing changes the share price probably crashes back to 45p. Maybe a better offer is tabled.
2.) Between 50% and 75% vote in favour. Those who voted to accept get the offer, those who didn't keep the BCN shares. What happens to the share price is anyone's guess, I'm guessing crash. Or maybe a better offer.
3.) More than 75% vote in favour, the shares are de-listed. I've no idea what happens to my shares then.
My heart says hold out, my head says accept.