Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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The irony of remaining here you missed the likes of bhl which is up 50% ytd. The opportunity cost of bcn is utterly ridiculous! Worst thing you can do was remain here.
I wasn’t going to say anything about Tesla because I just classify it under the “Greater Fool” school of investing – you’re a fool to buy it, like Bitcoin, but you can always sell it at a profit to a greater fool. Until you can’t. Like, when Elon Musk has a heart attack. There goes 20%.
But what it has in common with the “Greedy Cry-Baby” investment experience is that people who fall in love with their stocks should just stay away from the markets. I won’t repeat the hypnotized-chicken analogy, but you know what I mean. The market had determined what BCN was worth, in April. Ganfeng offered a 50% premium, which is more than what most takeover targets collect. Cheering for an average team is suitable for football, but not junior miners. Take your profits and invest elsewhere. But make a list of five reasons it could go downhill, and review them regularly. And if the company’s Board is governed by reality, then that’s a feature, not a bug.
Still here.
If they get to 90%, good luck to them.
If they don't, then they'll have a hard time getting us out.
It took extension after extension for them to get this over the line, and now, they need an 'indefinite' deadline.
I think we did very well considering how poor/skewed The Takeover Panel rules have been.
Obviously Teslas risen steeply. But it have Freemont and Shanghai producing around 1.2 Million cars as at Dec 2021.
It has Texas and Berlin Factories coming online this year. Both bigger than Shanghai.
Freemont and Shanghai also expanding this year.
Tesla 4680 Batteries will be so much better than those used in competing Brands
Tesla only company chasing down AI and Full Self Driving
They have the fastest and longest range EVs that cost under 60K (there are some that can match but cost over !00K)
They have Cyber Truck an Semi
The have Battery Storage
They have Tesla Insurance
The have the Supercharger Network (opening up to other EV owners)
They have so many revenue streams and do in my opinion produce the best EVS
Competition :
Ford - NO,
GM No,
Stelantis No.
Toyota - No,
Honda No.
Kia/Hyundai - Yes.
VW Group (Audi, VW, Seat, Skoda, Porche...) - Yes
BMW - some
Mercedes - some
Renault - a Little
Polstar - Yes
Mazda - No
PSA Group : Yes
But none on the scale of Tesla
Price target 1600-2200 usd by end 2022
I think they have so much momentum they will force many legacy manufactures to the wall. The legacy manufacturers carry huge debt old factories, old technologies and are not agile.
The ones I see surviving VW, Hyunda/Kia, BMW, Mercedes, Polstar - the rest need to get moving quickly.
Battery Electric car sales in UK in Dec 2021 11.6% of Market. Second best selling car in UK in 2021 Tesla Model 3. Government legislation around the world and Europe means ICE cars are dead and resale prices will plummet if you buy .one.
My worst stock purchase has been BCN - too long to see results. Gobbled up cheaply by Chinese, Bad decision to invest in it.
BB - this is why I think there is something we have never been told by the BCN BoD and why they were so keen to get the hell out of Dodge !! If we ever get to know this which I doubt there will be another fraud case to add to the growing global sea of fraud. If youve heard of Occams Razor when you have eliminated everything else the simplest and most logical explanation is the most likely -- therefore the most likely explanation is some kind of fraud or deception.
"Heavily invested in Tesla" - not the best idea IMO -- a lot of people are after Tesla's blood and dinner and I see turbulent times ahead for them. If you have bought into Tesla now you are a too late to the party I would wager.
@ Merlin49 And where do you suppose Tesla was buying its lithium before it renewed that long-term contract with Ganfeng?
@uncleal I would like to hear from one Ganfeng competitor who could explain why they didn’t make a higher offer if the resource was so valuable. Bidding contests have certainly happened elsewhere in the lithium world. The answer, of course, is that BCN had already sold half the project to Ganfeng. Who wants to be partner with them? But you should have seen that coming. Did you buy BCN before or after the Ganfeng deals? If after, you were warned. If before, what did you say at the time?
I accepted on the 17th Dec and I'm still waiting for the cash and the Zinnwald distribution to show in my account. For this company I used Fineco. I have spoken to Fineco and they tell me they are waiting on Bacanora. Whoever is at fault, it is over the stated timescales and i'm concerned as everyone seems to have the Zinnwald distribution at least. I've found Fineco a good platform up until this point but their communications on this matter have been poor.
I am new to posting but I have not sold and will hold out as long as possible as we all know that these shares are worth much more than 67p. I like everybody else have received my shares in Zinwald ( 7000 )
I have noticed on the web that gangfen have now admitted that they have an agreement with Tesla regarding lithium supply !
Lithium price hits $63000 per tonne a 500% increase in the last year. We were robbed but then everybody knows that. I would just like to hear from one board member why they sold out so cheaply??
I decided it wasn't worth waiting for the Zinwald shares with a static share price capped at 67.5p. I Sold all mine @66 ish and moved on some months back. The risk was too high that Ganfeng would win and so I didn.t see any point in leaving my money there. Not what I was hoping for. But now more heavily invested in Tesla which I think is in for a good year - volatile but safe bet
Apparently the ii's are closing down peoples positions because they're delisting which will get them over the line I think
Another who did not accept the offer but just keeping a good eye on things. Accepting the offer was just too easy for Genf
Hope i'm right!
I've accepted on most of my shares and been paid but I haven't accepted on 4000 shares and I'm waiting to see what happens. I've set a limit order to sell at £1 and invite Ganfeng to purchase them. It could happen before they delist but who knows.
If they get to 90% it doesn't matter and I get my money anyway, and if they don't get to 90% there'll be a lot small shareholders that can club together and request a higher value.
Hi, just curious if there is anyone on here who has not accepted the offer? I'd like to know your reasoning. For clarification I have a small holding, have not accepted the offer as the Halifax have frozen my trading account as I'm no longer a UK resident and I'm interested to see what will happen.
I did accept the offer and got the ZINW shares. I have msg HL twice ( they replied both times ) after my second msg I got this as a reply
Having checked this further, the 14 day period did start on 17 December 2021, but only includes working days. Due to the bank holidays over Christmas and the new year, we're currently on day 12 of this period. As such, you can expect the cash to be allocated to your account within the next few days.
Perhaps tomorrow will be day 14!
It has been a total mess. I don’t blame HL. I have made a good profit, but nothing like what we all should have made.
Kirk. Cant help you much as I, along with others, are just as confused with the situation and are getting different messages from brokers - read the posts here.
If you didn't accept the offer then you wont necessarily get proceeds, you will continue to hold the shares UNLESS acceptances reach 90% when a full takeover will occur. From what I can see the shares are still on the market so unless you did accept the offer then I would suggest you might be better demanding IG sell right now in the market - the alternative in doing nothing is the risk that you will end up as a minority shareholder in a private company with no way to liquidate your holding, whose main shareholder is a giant Chinese corporation who will run it for their own interests (which could of course work out well for you, but no one has any idea). Other great posters her will no doubt correct what I have said if necessary
Hi everyone, I have a small amount of shares of with BAC Lithium. I traded them on IG But now i cant close the position, I was told my shares are safe…..but now Im being told there delisted and need to wait for the proceeds….can someone tell me what happens and if i have lost my money? IG are not giving me any information now….im being told one thing then another
Thanks
@johnpwh I'm very surprised that we haven't had an acceptance level update. I thought they had to RNS 75% level, which surely must have been crossed. I saw the RNS this morning and thought it must be offer clarification........but no.
Worrying times for people who haven't received their money, unneccessarily so. Comms from the company should be much better.
jam, do you know when the next acceptance level is due to be announced or did that calendar go out of the window with everything else? I agree that anyone still waiting for cash and whose shares still appear in their accounts should question if their acceptance has been recorded. In case of any doubt this was an offer to buy shares not a takeover bid, the default (ie non response) is that you not offering your shares and wish to keep them.
I agree, total and utter shambles start to finish and unnecessary stress put on long suffering shareholders who were abandoned by their BOD. Had things been clearer I may have reacted differently myself, but so many question marks - when you have a holding representing a non trivial percentage of your wealth you have to behave conservatively
N7455 and Stintin.....stating the obvious....but u have both accepted the offer ? If u have then its supposed to take 14 days for the money to be credited. ZNWD shares will be allocated accepted or not.
BCN have still not specified a final acceptance date,so in theory, the offer is still open to be accepted.
TBH, this whole process has been a shambles from start to ''finish''. I will say, that my broker, Interactive Investor, has been helpful and prompt. I think the lack of clear comms from BCN has been a pain in the backside for the brokers as well as the shareholders. Good Luck
I’ve been getting messed about by HL. Even after contacting them. I got my ZNWD shares but my money is still in BCN shares in my SIPP. I did point out to them it’s dead money.
Anybody with IG received their cash. Have been contacting corporate action dept but no response from them
Same sector, off topic
BHL is worth a look in my view.
This could be a hidden gem.
It didn’t feature in the 2022 ‘tip list’ with all the usuals suspects, I’d back it against any of them.
US based Lithium miner, very well funded, large & fast growing resource base, small market cap & top management team (including Jim Mellon as a backer).
This video is worth some weekend research.
https://youtu.be/IGjE03KuOac
Well chaps and chapesses, think we are winding down here though I will keep an eye on the RNSs to see if BCN will continue as a private company or disappear with a full takeover.
Whatever your decisions I wish you good luck. GLA everyone, no doubt see you on other boards
John