Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Tar mac
This is a ramp !!! The JVs in sonora are the last that will be worked, why talk about this for any other reason otyher than to deflect focus away from the fact that we still have no idea when Amapa will happen !! I have been on the road all day and read this nonsense now !
Bannor. One is never to old to learn. Many thanks.
The cost of Mojito was as you said £380k. + 250m shares and KDNC (REM at the time) stated that total cost was £950K. It would be heartening to think that that is now worth 11 times as much=£10.rm
Crikey Degsie didn't expect that question from you!! ..... SCAP = Share Capital (number of shares in issue).... Divide the MCAP (Market capital = value) by the SCAP & you get the price per share....
Bannor. Thank you but what is SCAP? I have been trying to find market cap of Hastings in 2011.
Tsk Tsk tetchy TC.... LoL :-))
..... to save you working it out (if you were going to) the SCAP since we purchased Mojito has increased about 11 fold to date .... some of it with good reason/rationale....
Degsie.... from memory $2.5M (in 02 stages) to fund drilling for each 30% of Mexilit & Megalit.... total $5M.... For Yangi see below regarding the purchase of Mojito.... you can also work out from that how many pre-consolidation shares were in issue at the time of purchase....
Rare Earth Minerals (LON:REM) is buying Mojito Resources in a cash and shares deal as it seeks to expand its exposure to rare earth mineral projects in Australia. The firm is paying £380,000 in cash and 250 million Rare Earth shares – around 17.3 per cent of the total share capital of the company
why are you doubting the legal ownership of the subsidiary companies... it’s stated clearly in the annual return filed at companies house... worth checking it out... you can take a look at today’s filings regarding sll ownership itself... whilst you’re looking... it’s as black and white as you can get ffs...
"In August 2019, Bacanora Lithium Plc’s 100% ownership of Bacanora Minerals Ltd and all its subsidiaries were transferred to Sonora Lithium Ltd (a 100% subsidiary of Bacanora Lithium Plc at that time)."
Gangfeng now own 50% of Sonora Lithium Ltd which holds La Ventana plus the Mexilit and Megalit JV's. Mexilit's designation changed from exploration to mining / exploration a few years ago when it was included in the mine plan for the Sonora Lithium Project. Megalit is not....as yet!
I agree @Bannor - it's confusing, but ultimately I have to go with the details that are documented in the financial reports, not the attempted (!) simplification in the RNS's. This swung it for me:
https://www.bacanoralithium.com/pdfs/bacanora-consolidated-financial-statements-31-december-2019.pdf
===[
Name of subsidiary Country of incorporation Shareholding on 31 December 2019 Shareholding on 30 June 2019 Nature of business
Mexilit S.A. de C.V** Mexico 54.25% 70% Lithium mining/exploration
Minera Megalit S.A. de C.V** Mexico 54.25% 70% Mineral exploration
]===
As well as the document @tomcat mentioned on companies house outlining the subsidiaries of the company Ganfeng have 50% of. There was a question mark over ownership for a long time, but it was cleared up (for me at least!) in the past year.
Obs/Bannor. I am impressed by the information you seem to have at your fingertips. Are you able to post the respective cost of the JVs in Sonora and Yangibana to KDNC??
Obs/Bannor. I am impressed by the information you seem to have at your fingertips. Are you able to post the respective cost of the JVs in Sonora and Yangibana to KDNC??
You may well be right Obs... but the RNS's continually refer to Ganfengs investment in SLL relating to LV & JV1.... if only things were defined more clearly eh!!
Regardless we hold 30% of the JV's irrespective & I'm more confident of things progressing with GFL than I was previously without them, they wouldn't have taken an initial investment & then increased it without good cause/reason.... Like Yangi though they have the luxury of sitting tight for a number of years yet before they need to think about buying us out or agreeing a mining JV....all the time hopefully the value of it becoming clearer..... Should they take us out of the scenario cheaper that's the question & how much is it worth to them & us today considering how much could change & happen in 6+ years of change & development in between.....
@Bannor. I'm as certain as I can be that Ganfeng now have claim to 35% of Megalit, with KDNC 30%, BCN 35%. But DYOR...
..... Concessions.... Project..... Limited.....
Bacanora owns ten mining concession areas covering approximately 100 thousand hectares in the northeast of Sonora State in Mexico. Seven of these ten mining concessions (the 'Sonora Lithium Project'1) were included in the Feasibility Study announced 12 December 2017. The Company, through drilling and exploration work to date, has established a Measured plus Indicated Mineral Resource estimate of over 5 Mt (comprising 1.9Mt of Measured Resources and 3.1Mt of Indicated Resources) of LCE2 and an additional Inferred Mineral Resource of 3.7 Mt of LCE. The Company's Feasibility Study has established Proven Mineral Reserves (in accordance with NI 43-101) of 1.67 Mt and Probable Mineral Reserves of 2.85 Mt LCE and confirmed the economics associated with becoming a 35,000 tpa lithium carbonate and 30,000 tpa SOP producer in Mexico. In addition to the Sonora Lithium Project, the Company also has a 50% interest in the Zinnwald Lithium Project and the Falkenhain Licence in southern Saxony, Germany. Each of the Zinnwald Lithium Project and the Falkenhain Licence are located in a granite hosted Sn/W/Li belt that has been mined historically for tin, tungsten and lithium at different times over the past 300 years. The strategic location of the Zinnwald Lithium Project and the Falkenhain Licence provides close geographical proximity to the German automotive and downstream lithium chemical industries.
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.
IMO BCN/Ganfeng will buy KDNC's share of JV. But for how much?
Indeed, almost constant flowing.
Where's the first post gone? Thought this a better line, if I'm going to be pedantic best start with myself
Indeed, almost a constant stream of it.
interesting that mexilit is now a mining company... ;)
Obs. I am very impressed you are a fount of knowledge
sonora lithium ltd’s subsidiaries are detailed on page 13 of sll’s annual report... filed on companies house...
The table on page 101 spells it out:
https://www.bacanoralithium.com/pdfs/bacanora-consolidated-financial-statements-31-december-2019.pdf
https://www.bacanoralithium.com/pdfs/bacanora-Interim-financial-statements-30-june-2020.pdf
===[
Three concessions in Sonora, Mexico, namely, Buenavista, Megalit and San Gabriel, fall outside of the scope of the Sonora Lithium Project Feasibility Study. They cover 89,235 hectares and are subject to a separate agreement between the Group and Cadence Minerals Plc. As at 30 June 2020, Buenavista, Megalit and San Gabriel concessions were owned by Megalit. Megalit is owned 70% by the Sonora Lithium Ltd and 30% by Cadence Minerals Plc.
]===
..... In SLL (Sonora Lithium Limited) SLL owns 100% LV & 70% JV1