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Fascinating new development! Never, ever, ever underestimate the Chinese. As you say, @fpvone, they are masters of money. They are proactive with great strategic savvy. You only have to see how they are moving into IRR's Ghanian lithium projects.
I see the Ganfeng/BCN move as a big positive for EMH. It will be most interesting to see how the Germans, whose politics is in the melting pot with Merkel retiring and the Greens on the rise, respond to the Zinnwald deposit. It is a timely reminder to the sometimes befuddled and bureaucratic EU that their really need to get their act together regarding their vital resource security.
One of the specific reasons I bought in early to EMH was the back-up from CEZ and the Czech State, with some political distance from the main hub of the EU, and yet immensely advantageous geography.
EMH in a very, very special position now. All to play for IMO. GLA!
A bit like the Trojan horse The west accepted gifts and investment and now they own the west and all without a bullet fired.
The funny thing is the man on the street could see this for years but politicians were too busy feathering their own nests to see.
This whole rare earth/battery supply scenario is going to be very interesting ( and a bit scary.)
That being said I shall still keep buying it would be rude not to.
Sadly. Its True
The Chinese are masters of extracting money. They will run rings around those idiots in Brussels. They now control Germany's lithium supply for peanuts Germans and especially Merkel are plonkers.
As Ganfeng own 50% BCN I cannot see anyone counter bidding , hope I'm wrong , so they will own a fair chunk of ZNWD. I have seen this type of thing before with Chinese companies in my oil portfolio which made a fair amount of money for me to pay off my mortgage . Europe needs to get its arse into gear in my opinion and sort out the supply chains for these Gigafactories . Just my overall opinion. DYOR. Lithium is the new oil !
cheers for clearing that up
From the company website biggest shareholders
Bacanora Lithium plc 44.2%
Henry Maxey 14.6%
David Hall 3.4%
Osisko Gold Royalties 2.9%
"Bacanora will be selling its 50% share in Deutsche Lithium plus €1.35-million cash in exchange for new shares in Erris, giving Bacanora a 70% ownership stake in Erris and a net profit royalty."
70% ownership of Erris and Erris have 40% stake in Zinwald?
The quote came from the link that fingers produced at 16:29....
Not sure where that is from Green but its not correct.
"Bacanora will be selling its 50% share in Deutsche Lithium plus €1.35-million cash in exchange for new shares in Erris, giving Bacanora a 70% ownership stake in Erris and a net profit royalty."
The question then is, why would they set this up to control 70% of erris?
Easily solved Erris bought BCN's Zinnwald holding, but in doing so handed 44% of there shares to BCN. BCN are currently the largest shareholder in Erris -
https://www.marketscreener.com/quote/stock/ERRIS-RESOURCES-PLC-39437379/company/
BCN basicly sold it and renamed it bought back in
we all need to get the facts right
https://www.miningweekly.com/article/erris-to-buy-germany-lithium-project-from-bacanora-2020-09-30/rep_id:3650#:~:text=Erris%20to%20buy%20German%20lithium%20project%20from%20Bacanora&text=The%20proposed%20acquisition%20of%2050,Erris%20chairperson%20Anton%20du%20Plessis.
Baconara bought out erris renamed it zinwald and genfang bought a stake in baconara that gives them a stake in zinwald
They sold it but now hold 44.3% of the shares in Erris resources.
I dont remember them selling the new company40%shares but dont mean they didnt of course
dan they sold it .
The main asset owned by DL is the Zinnwald Lithium Project ("Zinnwald" or the "Project"), located in Germany, which would become the sole focus of Erris and its management team going forward. The Proposed Transaction will allow Bacanora to focus on bringing its world class Sonora Lithium Project ("Sonora"), located in Mexico, into production; maximise shareholder return on the investment to date in Zinnwald; generate a clear see-through value of Zinnwald for its shareholders; and lead in turn to Zinnwald being brought to production by a new, dedicated management team.
Ganfeng may sell the ZNWD related shares on the open market over the next few months. Maybe.
yes I remember it now so no chinese interest at the moment as such, I did wonder years ago why we never bought Zinnwald but Keith said we have more than enough so EMH didnt buy it now tho with Hindsight would of been a very good move possibly but there we didnt and here we all are wondering if it will happen now or some sort of deal for processing or % of company , who knows , interesting tho isnt it?
BCN hold 40% ish of the new company that owns Zinn.
sid
Erris buys 50% stake in German lithium project from Bacanora
https://www.reuters.com/article/us-erris-resources-m-a-bacanora-lithium-idUKKBN26L2D7
https://www.lseg.com/markets-products-and-services/our-markets/london-stock-exchange/equities-markets/raising-equity-finance/market-open-ceremony/london-stock-exchange-welcomes-erris-resources-aim