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Good luck to Ganfeng if they do take over. I’m sure they’ll be producing commercial quantities of Lithium from Sonora a lot quicker than the current BCN management who don’t seem to have a clue. They have taken years and years onto get to this stage.
Beevorma, criticise someone's abilities by all means, backed with reason. Criticise me if you like, But emotive terms like 'dirty' implying illegality are, in my opinion, unnecessary.
john that was my comment on secker and I'd stand by it. It's not even an insult because it's true.
If the offer was somehow defeated there are means and other ways which Secker would be amenable to (and not in the interests of shareholders)
Take the cash and put it into EMH :-)
Foz
I'm not picking a fight with you or anyone over this. From my point of view, in my situation, I am reasonably happy. If nothing else it should put a new floor beneath the SP. It is an agreed offer so will need defeating by a very concerted effort , and I'm not sure that will happen. Certain fact that PIs alone wont do it, it will rely on institutional investors (as always).
I am a right old fogey who learned not to fall in love with an individual share a long time ago. Too many people do and it clouds judgement. Any profit is a good profit. - and yes, I still get caught out. That's why I say take the money and move on, there are plenty more fish in the sea.
As far as anything else goes 'its just business' - in the words of Peaky Blinders 'Big f***s Small'. This is an example, and it wont be the last.
Ps Can we all avoid insults please. I read 'although Secker is so dirty it wouldn't surprise me if they end up getting it another way anyway...'. I don't think that sort of opinion is necessary or in any way helpful.
Hope see my
The ball is in our court. I’d suggest 67.00p worst case.
Selling below 60.00 is nothing short of crazy.
I mean it would be nice if they didnt include ownership on Znwd, spun that off into our own asset and left us some cash on top of that also!
Done deal at 67.5 stole my shares at 55p will just sell them backto the chinese. Easy money
i've bought some for an easy 20% profit - cheers
I also added a lot. Opportunities to buy don’t come much clearer
Ganfeng already own 28% the buyout offer is 100%. I've bought at 57 holding for 67.
Also how long will approval take? 8 months from Chinese?
Its absurd how far the project will be by then, I said about bouncing post mexico mid terms - We have all these risks regardless now given its June 3rd 5pm cut off.
The directors and Ganfeng have already agreed the terms so it's unlikely, given Ganfeng's already large shareholding that there will be a higher offer than 67.5p.
"It is intended that the Possible Offer, if made, would be structured as a recommended offer"
"The Bacanora Independent Directors view the Possible Offer to be an attractive proposal which they would expect to recommend to Bacanora Shareholders in the event that Ganfeng releases the Agreed Form 2.7 Announcement at the Offer Price and otherwise on the terms and subject to the conditions to be agreed in the Agreed Form 2.7 Announcement"
I agree FD-best take our stake from here and move on once final price is reached. I bet the chinese are mopping up these shares and cant believe their luck
John I do get what you are saying and costs, risks, discount etc but this price isn't even close to what I deem fair. Now you say happy with flip, all those risks I said many times on here had stomached and this was long term. So no i am once again not happy and once again see SECKER as a POOR negotiator. If this was on the table then why sell chunk of company at 45p?
Once again hes a total let down.
Unbelievable! That's a bad joke.
67p absolute minimum guaranteed. The markets offer so many opportunities these days. I for one topped up big time.
Haven't got my head round this at the moment.
If it goes through I cant imagine it being greater than 67.5p as they already own 28.8% of the equity - its going to be hard for anyone else to win unless the counter offer was immense (yes, someone is going to say 'Tesla', but don't forget they wouldn't benefit any time soon because of the take off agreements already signed, and would they want to share the resource 50:50 with Ganfeng?).
Whether you like this offer is up to you but, as the say, a bird in the hand is worth 2 in the bush. Take the money and move on? I know many wont agree with me with talk of £1 or £2 whatever but at the end of the day this would represent a decent profit for me with a 39p average.
With potential project delays and political risk I think I personally would be happy with this flip.
Remember the lessons learned with high profile PI favourites like Hurricane and Sirrius, this could be worse
John
67.5p no way please reject - this is a low ball offer based on future worth
I will be furious if they give this company away - I didnt invest here to be giving away at this sort of offer
i said when i bought in here that Gangfeng would try and take it over completely, obviously know this is worth multiples of current SP long term, Bar-stewards.
I'm sure as hell not voting for it, although Secker is so dirty it wouldn't surprise me if they end up getting it another way anyway...
Perhaps this is the key bit in the RNS:
The Bacanora Independent Directors view the Possible Offer to be an attractive proposal which they would expect to recommend to Bacanora Shareholders in the event that Ganfeng releases the Agreed Form 2.7 Announcement at the Offer Price and otherwise on the terms and subject to the conditions to be agreed in the Agreed Form 2.7 Announcement.
Ganfeng have intended this all along. The offer will go through, with Chinese pressure behind it they'll end up owning it one way or the other.
its not agreed and im getting straight into Secker that he should be rejecting this.
I said we are sitting on major stregtic resources here, and Chinese will for sure finance all phases on this.
Not supraised at all they want it all. I can tell you this, 67.5p is a bargain folks for Gangfang. Stupid to sell at this price.
When I worked with Chinese in ME and Africa on HYdrocarbons and Minerals, there was something called international prices and Chinese prices. They love everything on the cheap, and this is cheap!
People will sell on a jump of 25%.
I think that is all you are seeing today.
Odd that you can now buy an agreed cash offer of 67.5p at 55p...
There is some risk that the deal falls through but I would guess 75/25 that it goes ahead.
Offer at 67.5p and yet sellers are out selling at huge discount to the possible offer price. Under the takeover codes, is Ganfeng allowed to buy shares on the open market? If so, surely they will do so and save themselves a chunk of money.