The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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# your .... not you're.... haste & autocorrect are also poor bedfellows :-))
Morning most...
Dee ... It has nothing to do with PI v PI or any of the history, it's all about economics & opportunity.... I am familiar with a lot of BCN shareholders, many of them are also invested in KDNC & many were here first & sold up to buy into BCN instead.
As for history I was in this share before the first exploratory drills were put into the JV areas some 8 years so have nailed the history in Spades & waited sufficiently for some action as it were.
But back to point which for me is the economics & opportunity:
BCN, due to their own position, currently plan a 35ktpa to 50ktpa operation which takes feedstock from a small portion of JV1 in years 6/7 of the plan ... because that's when the economics of exploiting LV only switch to the JV lands - they're not doing us any favours it's just business.
GFL plan up to a 5 fold increase in that (thanks NEWS) .... so when do you think the JV areas will come into play then (based on economics not some romantic notion of non existent cameraderie between different co's)
you're correct that GFL won't do KDNC any favours but nor will BCN they both have shareholdetr & people to answer to & right now I'm seeing (& always have) GFL as a better opportunity for an earlier sale of the JV's for good value than BCN & failing that exploitation of the JV areas much sooner as the economics will demand it .... either works for me but I reckon GFL will want us out of the picture sooner rather than later which puts us in a better/stronger position with GFL than we've ever been with BCN.
My opinions my views - nothing you've indicated so far changes that because you're position is based on sentiment & expectation instead of the economics & reality.
Yes :) early bird these days ! Feel our fortunes and strengths are changing now on Cadence, positive news from all our assets .
Barksy
Wow you’re an early bird today.!
Well said Ban , I agree .
The only other point I'd like to make, is Ganfeng don't want BCN involved. At all. - Why would they want Cadence?
Does Cadence bring anything to the table? Money? Ganfeng has plenty of that.
What's stopping Ganfeng from timing the construction to make it difficult for Cadence to raise their share of the CAPEX? I'm not saying Cadence aren't capable - I AM however, saying that based on current form, Ganfeng will do what they can to make it difficult for Cadence.
That's why it's important you help us make a stand - We're all PI's trying for ourselves, and our families.
But if you wish to make it me vs you, PI vs PI, well I genuinely hope you're right, and I'm wrong.
We're seeing the true colours of Ganfeng as of this very moment.
I've not been in BCN long enough to know of issues between BCN and Cadence shareholders.
But what I can tell you is this:
What makes you so sure you'll get a great deal, when it's your turn?
Current section can be mined for over a decade.
There's more to Sonora than the part KDNC own?
Why would Ganfeng need to make a big offer, when they can mine other areas, or even other countries? They own and part own mines all over the world - They could treat it as an optionality play.
Strange bedfellows indeed, but if you don't wish to see Cadence at the mercy of Ganfeng, you'd do well to start now.
Unless of course, you're going to somehow tell me it'll all be alright when it's your turn?
..... explain in plain language why being a 30%. JV partner to Ganfeng who have huge experience, ambition & pockets to match is not preferable to being partnered with a company that requires a lot of debt to progress & has dragged it's heels for years... GFL owning the balance of the Sonora JV's might mean KDNC can agree a sale of their 30% for good value without any concerns about how payment will be achieved .... maybe even negotiate a royalty as well .... at the least it appears construction, extraction & processing will be bigger & quicker under GFL..... as a KDNC only shareholdetr why should I be concerned about a takeover of BCN by GFL ... I'm only seeing an upside IMO..... But I'm prepared to listen to a reasoned argument to the contrary,..... after all it's not like KDNC & BCN have been the best of bed fellows over the years is it ..... Perhaps that £1 a share offer KDNC made some years ago looks a little more attractive now to BCN shareholders though.....
Hello from the Bacanora Board,
We have launched an email campaign against this Ganfeng takeover.
We want you involved. Thus far, we have over 100 people on board - We need more.
If you believe (like we do) that this takeover is bad for both KDNC and BCN, please email me on:
SaveBCN@protonmail.com
We have a list of key stakeholder email addresses, and draft emails. You can literally copy and paste to send the emails out.
(Apologies for posting on your board!)