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And further to that between them Ganfeng and Hanwa have offtake agreements for all of Phase one and Phase two production. So nothing in it for them to sell this of on the cheap. Not only do they want the Lithium this is also likely to make them lots of money with IRR of 26% , NPV of 1.25 Billion, and 200 years worth of Lithium, 8.1mt of it. Easily expandable to produce 50k Tonnes, or more, per year.
EPC is due end of Q4 2020. Not much longer to hear news that should bring the SP back to where it was in 2018. But this time with Ganfeng on board and Tesla Battery day in every bodies mind funding should not pose such a problem.
I think things are lining up for a good 2021 for BCN and a major re-rating of the SP
In December 2015, the company raised $17.9m (£8.8m) through a private placement of 11.4m shares at $1.51 (£0.77) secured by its first major institutional shareholder, M&G Investments.
https://www.sharecast.com/news/aim-bulletin/bacanora-minerals-to-progress-with-feasibility-study-at-lithium-project--1849206.html
Under the equity investment deal, Hanwa will acquire an initial 10% stake in Bacanora, raising approximately £10.2 million for the company through the placement of 12,333,261 shares at 82.5 pence each
https://www.spglobal.com/marketintelligence/en/news-insights/blog/street-talk-episode-69-banks-left-with-pockets-full-of-cash-and-few-places-to-go
I don't believe the Big Shareholders in BCN - Ganfeng, M&G , Hanwa would be willing to sell this one out cheaply.
I think M&G and Hanwa first investments were at around 80-90p per share. Maybe someone can do the research
mick88,
big names there, these juniors are risky, and Peter Secker is no stranger to a failed project.
https://www.kitco.com/pr/1267/article_10082014074210.pdf
Sorry jimb, don't get you?
RB?
Yes, and EMH, Livent, Albermarle & Global X
mick88, do you hold BCN?
Hostile takeover of Gemfield by Pallinghurst (they only paid the existing shareholders a fraction of the true value of shares), and two of the senior management in Gemfield at the time are now senior management at BCN (in similar roles).
Pallinghurst are aggressively pursuing mining businesses in the EV commodity supply chain (they have 2B to invest in a JV with Traxys). Hence the reference to Nemaska, they originally offered them an investment deal last year inclusive of existing investors . Now they ditch the same shareholders with zero value for their shares, and buy the project at a fraction of the value. Predators.
I don't know if there is any significance, or just a coincidence re the two senior managers, but it makes me nervous especially if there was an approach by Pallinghurst?
I don't know the story Mick. What parallels are you drawing?
Is there any significance in the fact that two of the current senior management at Bacanora were also part of Gemfields prior to the hostile takeover by Pallinghurst. This is the same Pallinghurst that has just acquired Nemaska Lithium ruthlessly dumping 25,000 existing shareholders (I was one of them)?