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I am fortunate enough to live about 100 miles north of the border, while this lithium project is 200 miles south of it. My advice: Let the Chinese have it, they are better at dealing with the crime and corruption that are facts of life in that part of the world. Even mad dogs and Englishmen should stay away from that remote region, infested by drug smugglers and human traffickers. Lithium is not rare -- there are several projects already, within a couple hundred miles north of the border. A couple of them are owned by an Australian company. Bacanora used to be known as the name of a Mexican tequila, made from the agave cactus plant. They've started to grow agave in Australia now, too. They can't call it tequila, but they can still make a better product -- just as they can do with the white light metal.
Hello Peter.
Did you become a member of LSE just to deliver that Bob?
So for your first ever post you came up with this - what happened to earning other posters trust before dropping a massive de-ramp bomb !
haha Nomad thats made my afternoon, 'hello Peter' .... still chuckling now
I think he’s just upset that China has replaced the US as the most powerful country in the world - the Mexicans even built a wall to keep them out...
Nomad - congratulations, you've just won the internet haha!!!
Borderbawb........what encouraged you to post ? Have we to trust you have no other motivation for your view...come on lets have the truth.
Well, I'm convinced! :P ROFL
The Chinese can have it, if they are willing to pay a fair price. It isn't the buyout per se I am annoyed about. It is the BOD incompetence in unlocking any value here before selling!
Agreed mathew - 80p minimum for me to be moderately happy
Yes, this is my first post here, because BCN is the first British company that I paid an extra $50 commission to invest a very small amount in, just to follow it along with other and better lithium shares. And I was amused that the same people who are tearing the United Kingdom away from Europe, and then tearing the United Kingdom apart, are the "savvy" investors who have no idea what doing business in Mexico means. I suppose many of them are hedging their bets with cobalt mines in Congo.
Not here to gain anyone's respect. Happy for the ad hominem attacks. It means there is no disagreement with the point I made (see "Subject") -- Mexico is a failed state, and a foolish place to invest (although I am ahead so far on this lark).
I wasn’t going to engage this but borderbob but talking about Brexit and sat as you said on the border to Mexico of course you are going to feel like that!
If you have issues with your new presidents open door policy take it up with your congressman or woman.
Now had you said the concern is Mexico with Amlo, mid terms and already seeing weakness in government yields and cds contracts I’d have at least listened.
The region is about socialism and Peru just lost that battle to a banker in their latest election polls.
Ford and others have already opened arms to doing business again and putting factories in Mexico now trump has moved on (maybe only for now).
Mexico needs money - Amlo will push his policies for backing then put his hand out.
If you want to use the U.K. our last socialist attempt to well Marxist with Corbyn has destroyed the Labour Party and its the weakest it’s ever been.
My only one concern here has always been Mexico but the fact we are at this point they are not about to cause an issue with China or the usa for that matter. My biggest mistake was doubling and tripling down rather than hedging sensibly with lac so I do not discount the Mexico effect and have been the one stating on this board.
However you have come out of nowhere in the middle of bid spec with pis clearly voting against the deal talking about a failed state - I do not trust, like or respect that and can’t help but feel there is someone behind that. That is malicious in my view.
Bob, I have the feeling your timing for such posts have went down like a lead balloon. Still not convinced on your motivations. Bringing up other issues with your subjective and blinkered views will raise eyebrows.
Borderbob - Yes there is tearing going on here, but if you look deeper at Brexit and the EU you will see that the EU is a nasty spiteful and anti-democratic organisation, and we are well rid of them as their post Brexit activity shows in spades ! Yes the scots are being fired up for independance by some - but the Scots are respected and smart people and we hope they have more sense. The opposition party in the UK is now such a mess (of their own making) there is no opposition !
I have issues with our former president's border policies. He and his followers consider the UK a socialist state, but then most of what they know about socialism they have been taught by Rupert Murdoch. We are still not welcoming as many refugees as our economy needs and our morality should support, but the significance of that here is that decent people don't want to live in a failed state where there is no effective government and you have to bribe not only those who control the military but those who don't.
The Chinese are good at doing so. That's why investment in Bacanora was safe -- you became a business partner with the Beijing regime. Apparently many commenters here were paying a higher price for the shares than what I did recently. What did they expect? Qui cum canibus concumbunt cum pulicibus surgent.
The Phoenix AZ newspaper this morning has a lengthy article about three EV manufacturers in the urban area, about 400 miles from Bacanora. Oddly, there is no mention of where they are going to buy their batteries, or lithium for them. One of them is assembling parts from China. Ganfeng had no plans to market its product in the US; they were going to ship it from Mexico to China for final processing and use. Then send it back to near where it was mined? Interesting situation.
Bob, what facility will there be at sanora?
Bob
I have nothing against new posters. The opposite in fact because all new views are useful. Equally I have no problem with people with less enthusiasm than myself and the others here for BCN, such a view can prevent our rose coloured spectacles from obscuring the true situation.
The problem I have with your posts is that you have apparently literally just joined this LSE forum with the sole intention of casting doubt of this share. Now while spending your valuable time in such a way could mean you are a selfless human being trying to save us deluded souls, I personally doubt it. To join lse just to critisise BCN when you say you have only a nominal share holding is very odd behaviour, and I personally will not react further to your posts. If others do that is up to them, but personally I hope they don't encourage you
Wow. MrCautious. A somewhat blinkered and hysterical view on our friends across the water....I guess I'll take a moment to figure your voting leanings.....hows that £350 million we are saving. Oh and lest I forget blue passports all seems worth it now....
****oss why has he a blinkered view perhaps it’s you that is blinkered ( excuse the Apple predictive text) :)
@treblejohn67, who asks "Bob, what facility will there be at sanora?"
I have no idea what you mean by that question. Is it about Sonora? And in some Spanish-speaking countries, "facility" is the polite word for WC (long story about an American comic's monologue on how that means Wayside Chapel). But I was just doing some more research about what kind of lithium extraction was intended at Bacanora, the joint venture with the Chinese who already own 50% and a contract to buy all production.
Someone please correct me if I am wrong. The most expensive method to produce lithium is to break up rocks that contain it. That's what they plan for Bacanora. The less expensive method is to find it in brine, let that evaporate, then process the residue. And lately, there are stories about an even cheaper method to produce it with a sulfuric-acid process.
So is this like a coal mine on a windy shore? New technology may obsolete the old.
Add to that, the Chinese have to use smaller ships to move the semi-refined ore 400 miles southeast before turning around the Baja peninsula and heading a lot farther northwest. Granted, not as far away as Chile and Argentina, but Australia is a lot closer if those two countries don't go to war.
I should probably look at the archive of messages here and see what people were saying a few months ago when the company agreed to sell the Ganfeng Gang millions of shares for 45p each. You could have taken the same deal, too, and a 50% profit is not bad even if it takes a year.
In Sonora, what chickens lay and you eat for breakfast are not called eggs. The word "huevos" refers to a part of the male anatomy. So the polite term for locals is "blanquitos" -- little white ones. The more I look at this deal, the more I think the British have the Chinese by the huevos. Remote location, outdated technology, but already lots of yuan dumped into the project. The inscrutable way to save face is to control the accounting so no one knows how much is being lost?
I own shares in a dozen lithium small caps. I expect to lose money on most of them. I just want to be involved with the two or three that succeed.
This is very sinister to me, you reek of a disruptive force during bid spec. I do not believe in your intentions here and trying to make some eloquent poetic attempt to make you sound less disruptive and like you have now suddenly done some “research” makes me scrutinise you even more.
You ultimately are trying to imply this is a good deal which no Pi on here agrees with you. This feels very coordinated to me.
Fozdog, well put. Borderbawbag is not what it seems.
fozD you are no doubt correct - nobbob (BB) knows the facts fine well;
This is clay, not hard rock, this is open cast (cheapest form of mining). The finished product will be shipped direct from Mexico to battery plants most likely in the western hemisphere (North America / Europe), which is a lot cheaper than transporting spod or part finished salts to China then the West.
Alterior motives - YES
Dont think Bob will post again after his bumbling blunder. Clearly attempting to persuade people to ignore facts.
Quantas - You are eluding to the fact that I hate all continental Europeans - not true and a conclusion that remainers always seemed to draw to during Brexit. I just hated the beaureacracy and people that tended to man the EU organisation and the fact that it seemed we were in a club that we COULDNT exit.