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ffs BB you have admitted it !!
@mrcautious Theranos is the exception that proves the rule – but for purposes of this discussion, it was founded in 2003 and did not go public on NASDAQ until 2013, when it had a valuation of $9 billion or so. In 2014 it partnered with Walgreens, which the same year bought out Boots. The fraud wasn’t revealed until 2015.
I bought BCN before the Ganfeng takeover announcement, so you are missing with your stab in the dark about my motive of getting a nice quick flip. Although that might be the reason I haven’t sold, and might buy more shares if it looks possible the deal will go through.
Quantas - I am 1mm away from filtering BB and I have never done this before ! He has already accidentally been drawn into revealing his true agenda ie get a nice quick flip with a smooth buy-out. That comment about status at the time listed is childish. No company says "we re a dodgy pile of rubbish" on listing this just gets found out later eg Theranos ! What amazes me is how he finds the time and mental capacity to write all this carp !
Methinks there is much confusion here between NASDAQ and the American OTC market (where people like me can buy even speculative penny stocks like BCN, local symbol BCLMF).
Zarro the rns said “ The Company will continue to engage with RK as well as seek alternative terms with other debt providers in light of the current favourable debt market conditions.”
Well that’s exactly it, that debt facility was in place with a lot less cash, development and gangfeng as a strategic partner. So clearly we didn’t like extension terms. As above they have stated they believe can get get better terms therefore is that not a positive to our funding and costs?
So you can equally argue that they can raise cheaper debt and thus 67.5p is once again massively undervalued that they are so confident can easily go out and get another debt facility.
Quantas, read your comment that looks to be in response to BorderBob (filtered him as you correctly wrote “bile”).
You only need to think of one company on Nasdaq and that was the performance post Emh going on there. Also we’re talking about a mine that’s on the USA border, the Nasdaq would be a huge positive.
Not only would it begin to have inclusion in index funds I expect it would become eligible for many other etfs.
Few years back passive money overtook active money in overall size/aum for US stocks, that is not to be underestimated.
The technical on something like listing on Nasdaq would be huge IMO.
@Quantas Rather than just thinking of such companies, why not name a few? And the subject is their status at the time listed, not their later success or failure.
Sorry Zarro don’t quite understand why there is a security risk for Gangfen - is it because BCN might fault on the loan and jeopardise the project. Also surely the repayment of loan is responsibility of BCN so why should it bother Gangfen the high cost of loan?
BorderBob. What a load of tosh I can think of many companies without said prestigious resume that exist on NASDAQ. I'm not saying the BCN could be there but I've read the bile from you and tbh that's exactly what it is..bile
RedRoo
The Feb RNS was very clear that BCN's US$208 (50%) share was going to be met by (a) cash on hand (b) the proposed equity raise (c) the $150m RK Facility with Ganfeng responsible for the other US$208m.
In my view (c) was highly unlikely to ever be deliverable or acceptable to Ganfeng (due to the security priority and high cost of finance) - without some other compensatory adjustment which I/we do not know about (e.g. via the Offtake agreement or the economic terms of the JV).
That is why I believe the valuation maths is all distorted and whilst we think BCN is worth more than 67.5p, perhaps it is not. The question is - were we misled about this project being really fully funded and/or the terms on which that was claimed to be so. Without being able to include the RK Facility as solely part of BCN's contribution it would have needed to raise much more cash with consequent impact of dilution.
Foz - My view is that Ganfeng would have factored the ZNWD value into the deal on day 1. Now it just looks that bit better. I couldnt see any capital being returned to shareholders !!!
Mr c,
My hunch or view whatever want to call it…IMO they have no intention keeping znwd, whether they use that stake to try sweeten the deal at 67.5p or they’ve agreed to sell it on moment they complete ownership don’t know.
I just believe they have 0 intention of owning, developing and having znwd.
Could be totally wrong, however that’s how I’m seeing it.
I still believe sense will prevail and the deal doesn’t get done at 67.50….85p with likes of m and g is a totally different story. Just a view
So what you are saying is that it is planned to sell off our stake in ZNWD AFTER the takeover to effectively cut the cost of the takeover ?
The inhabitants of the capital of Sonora are only guaranteed the supply of domestic drinking water for the next 20 days, due to the most extreme drought in the last 60 years, warned the State Water Commission.
https://www.explica.co/hermosillo-on-alert-they-are-only-guaranteed-domestic-drinking-water-for-the-next-20-days.html
As in the znwd asset? Sadly when you leave a gold bar in a Bentley and someone buys the Bentley with everything In it….nothing you can do!!!
Sadly no one has stepped in and helped us, that remained the key for us really.
I await hearing what m&g say when it comes to it but I’d like to think they are better than just allowing us and them to be run over.
Foz - I get and agree with most of what you are saying, the bit I dont get is how an asset WE own now can be legally spirited away from BCN shareholders ? Its like buying a car, and then having it delivered minus the transmission ?!
The nonrenewal of the loan facility is insignificant. In the unlikely event that the takeover does not occur, another one can be found for the same or better terms. It would be foolish to pay a renewal fee now.
What is significant is that BCN admits that the money runs out by December 2022, and production doesn’t start for another seven to twelve months. Some are willing to take the leap of faith that an enterprise with no assets (other than some ZNWD shares) has some value because its Chinese partner is installing some Chinese equipment that might be able to turn clay into lithium, assuming the labor market and water supply improves by then. BTW, it has to pay for half of the remaining costs.
Bacanora is not fully funded. Stop claiming that it is.
Yes, most of them had been in business for years with private funding.
Mr C
My view on that is that ZNWD is being spun off -
One way I think they could do it is take all off BCN shares and put ZNWD into anther holding company which our friends on the board will magically appear on and will have ZNWD asset in there.....we will be given shares and cash in this new holding company.
I still think the logical conclusion is a tie up in ZNWD with EMH and thus gets spun out.
I mean look at timing of all this stuff its ridiculous!!! None of this sits well with me at all.
RK mine facility we can suddenly get better debt terms can we?????? What happened to doing that in Dec at 68p than letting Ganfeng take controlling stakes????
Now suddenly ZNWD acquires the other 50%....I mean what have the BOD of ZNWD done for last 6-12months? Sat on their hands waiting for a time to take over the other 50%? Surely they should have pushed and got that done AGES ago.
I read it that Ganfeng have approval to own BCN from PRC and to me that is BCN as BCN.
If they take ownership of BCN does BCN exist anymore? Maybe it does for the licensing but im sure its swallowed in Gangfeng asset pool?
As a result they will now be a 35% owner in ZNWD directly - Do they have approval for that from PRC? I Do not believe they do and would require further approvals. I mean easy answer is they get it but what's the point for what's worth £8mn quid to them for hassle factor and tiny in comparison to prize asset they've managed to nearly acquire for a fraction of value.
So all the tech new-starts listed on NASDAQ had a solid management structure and a track record -- Yeah right !
@mrcautious -- They were not basket cases when they were listed. You are practicing "whataboutism," which a recent commentary pointed out is the favorite tool of Putin and his propaganda team. (Talk about gaslighting!)
https://www.newyorker.com/news/our-columnists/the-high-cost-of-bidens-meeting-with-putin
The lions share of my investment portfolio is OEICs. I have been analysing and picking them for 13 years, and one thing I can say is that I have never held an M&G fund, and every time I look at what to buy in a sector, their stuff is almost always at the bottom of the list. In fact the fund that owns BCN IMO come into the 'pile of poo' list !
BB - Thats the biggest pile of rubbish I have ever heard - look at some of the basket-case tech companies that have been on NASDAQ !
Good theory, how would that work ? If all the BCN shares become property of Ganfeng, who would the ZNWD value go to ?
Dee’s naivete is showing with his suggestion that BCN would have any chance of being listed on NASDAQ. For those who are interested, here is a good summary of the requirements. As it explains,
“Major stock exchanges, like the Nasdaq, are exclusive clubs—their reputations rest on the companies they trade. As such, the Nasdaq won't allow just any company to be traded on its exchange. Only companies with a solid history and top-notch management behind them are considered.”
https://www.investopedia.com/ask/answers/nasdaq-listing-requirements/