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how much lithium do we own overall... it’s not 22.5% by any chance is it...
....it. still seems plausible to me that GFL will buy us out of the JV's in their entirety in fact I'm hanging every last thread of hope on it.....
I also think they'll end up taking BCN out personally & that'd be good too :-)
it still seems very plausible to me... that sonora lithium ltd... will be doing the back end of the lithium processing... the mining and front end beneficiation... being done by a.n.other... for risk management reasons and all...
Lol Bannor, no probs ;-)
Degsie your 05:06 is not correct KDNC own 30% of the small part of the El Sauz/Fleur JV concession that's included in the SLPP they do not own 30% of the 'project'
Sorry ....I should've just said I agree with Dallas!! Sorry Daz :-)
TC et al..... I think the confusion might be the distinction between 'project level' & Concession' level ....GFL now:
A) hold 29.99% of BCN'S SCAP (in the same way we had near 20%) & BCN hold 100% of the LV concession
B) at 'project' level which includes LV (100%) owned by BCN & El Sauz/Fleur (70/30 BCN/KDNC) they have a 22.5% interest.
So the concession titles/ownership haven't changed at all its only at project level that GFL own 22.5%…
Ganfeng has bought into Sonora Lithium Ltd that owns all BCN's concessions in Sonora.
Extract from KDNC Annual Report
"Under our estimation, The FS mine plan currently has some 12% of the plant feed being mined
from the 30% joint venture areas owned by Mexalit, "
Aren't our concessions only included as per DFS, which forms the Sonora Lithium project...though very little is attributable to them and not for years to come (as it stands). IMO Ganfeng have only bought into BCN's 100% owned La Ventana on the project level.... I can see the confusion though ;-)
another subtle... but significant difference... concessions owned by and concessions included in...
Tomcat. I think my latest post gives same information as my first post about concessions owned by Sonara Lithium Project.I think the RNS states the position correctly.
that’s what it really says degsie... good to see you correcting you post from the start of this thread... tue 13:05...
so the question is... have bcn rns’d missleading information... or do bcn own 100% of the la ventana concessions and gfl own 22.5% of the sonora lithium project... currently...
(i have been waiting for the deal to conclude and an rns exactly like the one below... to confirm how much lithium was actually included in the deal)...
maybe bcn will correct the error... for regulatory compliance... and report ownership as per the sll jv... similar to how they have reported ownership of mexilit...
KDNC still has 30% of Sonara Lithium Project. Ganfeng has paid £7.58m for 22,5% of BCN's share as set out below. As I said in my original post "Without more information it is not possible to value the 30% owned by KDNC but it does give some idea of potential value and I would think that BCN/Ganfeng would like to own 100% ASAP.", The value of the share retained by BCN is about £30m.
The Sonora Lithium Project is comprised of the following lithium properties: La Ventana lithium concession, which is 100 percent owned by Bacanora and El Sauz and Fleur concessions, which are held by Mexilit S.A. de C.V. ('Mexilit') which is owned 70 percent by Bacanora and 30 percent by Cadence Minerals Plc.
One for Obs or TC I think...
Surely it's a deal between Bcn and Ganfeng otherwise wouldn't we have been consulted in negotiations?
Evening all,,, is this 22.5% of their 70% so we still have 30% or has the 57.6 mil extra shares diluted us?
Sorry if daft Question but it is late...
Completion of the last of the relevant approvals has now been obtained and Bacanora has now received the £21,963,740 of funds from Ganfeng in exchange for a 29.99% equity interest in Bacanora Lithium PLC and a 22.5% JV investment directly in the Sonora Lithium Project ('Sonora'). It is expected that the 57,600,364 shares in Bacanora will be admitted to trading on or around 18 October 2019.
So Ganfeng have 29.99% of Bacanora company and 22.5% of the PROJECT.
Do we have 30% of the PROJECT?
1. The Sonora Lithium Project is comprised of the following lithium properties: La Ventana lithium concession, which is 100 percent owned by Bacanora and El Sauz and Fleur concessions, which are held by Mexilit S.A. de C.V. ('Mexilit') which is owned 70 percent by Bacanora and 30 percent by Cadence Minerals Plc.
what does it state... and what doesn’t it... https://www.lse.co.uk/rns/BCN/completion-of-strategic-investment-by-ganfeng-beh16g5s9j9y3fv.html ...
So they have the project but not the Lithium ?
yep... subtle... but significant...
Per RNS issued on Oct 14th
Ganfeng has 22.5% JV investment directly in the Sonora Lithium Project ('Sonora').
if sll owned 100% of the la ventana concession... then ganfeng would own 22.5% of la ventana... and bacanora would own 77.5%... not 100% as it states in the rns...
no it didn’t... it states that...
the sonora lithium project is comprised of the following lithium properties...
la ventana lithium concession... which is 100 percent owned by bacanora and...
el sauz and fleur concessions... which are held by mexilit s.a. de c.v. ('mexilit') which is owned 70 percent by bacanora and 30 percent by cadence minerals plc...
That is what recent RNS said.