The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Whatever Ganfeng does or does NOT do has nothing to do with the share price of CADENCE MINERALS. I merely read that "Ganfeg will then list BCN as a private co."
So, what is the harm in saying about talking about corporate structure? It is only of interest to those from a COMPANY LAW BACKGROUND. Just something to learn and see if they FOLLOW the Solgold-CGP need to merge CORPORATE STRUCTURE.
I usually post here and out pops the DIFFERENTIAL. Didnt your Honour said on KDNC that everyone post their ideas?
So, NO ONE IS RIGHT UNTIL PROVEN OTHERWISE so why split hairs ovr something that is of
NO MOMENTO?
Not so sure why you're so insistent that a 'new' co will be formed, as below the JV's are both owned by holding companies (Mexilit & Megalit) which are both owned 70% by Bacanora & 30% by Cadence ..... all that's happened is that GFL have (or will now) purchased the entire issued share capital of Bacanora .... there's no reason that Bacanora will or must stop operating as Bacanora but just as an entirely controlled & owned entity of GFL .... in fact it would be simpler & more straightforward if they do as an existing established trading entity within Mexico as it would save all the work & effort of setting up a new company when they have a perfectly good operating one already ...of course they could change the name but that wouldn't change, impact or alter the companies set up over the JV's.
The big question is & will be what to do about their 30% JV partner - which I'm really looking forward to finding out in due course :-)
On Twitter yesterday, there are lots of new articles coming out of Mexico given the President is hopping with the takeover of Bacanora Lithium in Mexico.
Blame has been put on the regulator there?
So, lots of hoo haa with a Mexican economist wading in as well on Twitter.
So, lets see what the acquirer will do now but for sure from a corporate legal structure, it would be ideal only in my view, to put the whole of Sonora under 1 new co [has to be private due to Bacanora delisted]. Await what Kiran Mozaria has to say [CEO] of Cadence Minerals on this.
Sat, 29 Jan 2022.
LoL ... No worries :-)
Sorry Ban, I thought that post was from news ??
Thanks news ;
Both - that's not how it works .... JV1 licences are held by Mexilit who in turn are 70% owned by Bacanora & 30% owned by Cafence as below :
Mexilit S.A. de C.V. (Mexilit) - BNamericas
Mexilit S.A. de C.V. is a subsidiary of Bacanora (70% interest) and Cadence (30%). The company is the owner of El Sauz, El Sauz 1, El Sauz 2, ...
When Ganfeng take Bacanora 'private' they won't be listed or tradeable on any public stock exchange .... Ganfeng will simply own Bacanora & all its assets & continue as Bacanora as a wholly owned subsidiary of Ganfeng unless they dissolve the company, take all its assets into Ganfengs sole & direct ownership & if that happens Mexilit S.A will simply become owned 70% by Ganfeng instead of Bacanora & 30% by Cadence ....... unless of course Ganfeng buy our 30% of Mexilit from us ....... the same scenario plays out for the Megalit JV's.
Continue not congruent
Well news, thank you , I must say I’m glad you think it isn’t beyond the bounds of possibility that Ganfeng could take Sonora private. So if we can’t congruent together in that form maybe we will form one big company together perhaps , if it is at all possible .
Or is it possible to deal with Ganfeng and swop some of jv1 for some of their jv2 plus cash so we have still got potential in Sonora . Who knows …. Kiran and the bod do ;
Barksy1 on the main forum is asking if Ganfeng will take SONORA private?
From what I have read, BACANORA LITHIUM on the London Stock Exchange will BE DELISTED ON 26 JAN 2022 AT 7AM.
Gangfeng will then LIST BACANORA AS A PRIVATE CO.
None of the article state where this private co will be listed ie LONDON, USA etc or Mexico.
However, from what I know, REM Mexico that holds the Great Sonora JV deal plus a bit of the Stage 1 appears to be NOT ABLE to go on in this form?
Why? From what I know, the SONORA LICENCE [lithium] SHOULD BE HELD IN 1 CO and
Bacanora and REM Mexico Ltd appears to be incompatible as a CORPORATE STRUCTURE.
For example, REM Mexico [Cadence] may agree to have a SHARE IN THE NEW PRIVATE CO that Gangfeng will incorporate but what are the terms:
[1] Could it be that the whole deal is re-calibrated ie NPV etc and then REM Mexico Ltd will have new shares in Ganfeng's new SONORA PRIVATE CO?
[2] Could it be that Ganfeng will offer REM Mexico Ltd to BUY IT OUT and for what price?
Kiran Mozaria said that if offered a reasonable price, then of course?
[3] Kiran Mozaria also said that if they are allowed to develop Sonora, then ? of course?.
Can Cadence take on Amapa, perhaps coming Litchfield/Picasso and Sonora?
One will have to wait and see for so many NEWS due soon?
[4] Or will Cadence be o.k with converting their REM Mexico Ltd to NSR?
So, many TYPES OF CORPORATE STRUCTURES that one cannot tell given one is NOT PRIVY
to any approaches or friendly hints from Ganfeng.
Certainly, like Solgold and Cornerstone, it was messy corporate wise with 2 co's owing 1 ENSA CASCABEL LICENCE. Hence why Solgold tried to take over Cornerstone.
So, have to wait and hope Kiran Mozaria will inform as soon as able.
Sorry, hurrying off , so not editing for errors.
News, Sat 22 Jan 2022.
Ganfeng took over Bacanora Lithium and the co will delist on 26 Jan 2022 at 7am
from the London Stock Exchange. It will then list Bacanora as a PRIVATE CO.
Given Cadence Minerals has a JV in the Greater Sonora lithium project and a bit in the 1st stage, will it not mean that Ganfeng will have to keep Cadence informed and start discussions?
Discussion as to how the private co will be incorporate relating to REM MEXICO who holds the Sonora lithium project JV etc?
One to wait and await Kiran Mozaria's update on this if any?
Thur, 20 Jan 2022.