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I think it is now apparent Secker would be better off running a toddler playgroup really, although those mums can be tough !
BCN is the only lithium share I own as I considered it the best desposit and the cheapest! Clearly I should have spread the risk with a couple of other companies in the PF, but when comparing the price offered here to the price action of other lit deposits it is shocking that the bid has even gotten this far. It is so undervalued. If Ganfeng get it for this they are getting it pennies on the pound. Very disappointing.
@ Strangerstill “The last price I saw for Lithium Carbonate was 13,500$ per tonne, way above the value used in the feasibility study”
From the 2018 feasibility study:
“The Sonora Project will produce Battery Grade lithium carbonate. For the purposes of the FS, Bacanora has chosen to apply a price of $11,000 which represents a material discount to the spot prices in Q4, 2017 of $12,000 to $20,000 per tonne.”
So it depends on your definition of “way above” – I’m sure that’s a technical term in the lithium industry; how much production costs will have risen from 2018 to 2023; and whether the price will stay where it is or return to 2019-20 lows.
Also depends on the takeoff price guaranteed to Ganfeng and the Japanese. I haven't seen that contract.
So we PAID $1.8mn and 50% of Detsche Lithium for 90mn ZNWD shares...
ZNWD paid $10.5mn for the other 50%.
So we put in $1.8mn of our cash, for a company worth about $8mn at the time and got about 45% share capital in ZNWD.....so net net we got paid about $2mn ish for our 50% they got $10.5mn 7 months later on and 0 development!
This BOD just incapable of negotiating aren't they?!
Just hugely weak even give assets away at fires-sale prices ...and what was messaging at time we are 'concentrating on Sonera'!
As every week goes by the price of Lithium Carbonate goes up and the offer from Ganfeng becomes more and more derisory. The last price I saw for Lithium Carbonate was 13,500$ per tonne, way above the value used in the feasibility study. Surely the institutional investors must be aware of the increasing price of Lithium and therefore the increasing value of Bacanora and must be aware that the offer from Ganfeng is becoming more derisory.
Bonkers we’ve been diluted on znwd…I actually feel that’s benefited znwd holders over bcn (I have both)?
But the market value of znwd is higher so should really be reflecting that.
Surley with zinnwald now owning 100% instead of the 50% of their land the value of bacanoras share has increased, therefore making the offer even worse then it already was.
Surley this is something vacanora was pre aware of , this doesn't happen overnight