Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Started: Matthew125, 9 May 2022 13:40
Last post: Matthew125, 22 Oct 2022 18:53
Good news for anyone who hasn't checked their accounts yet. iweb and Halifax have finally paid out for the BCN shares! :D
The word Crook's come to mind for some reason ?
By the way iWeb and Halifax are related - to quote Google 'iWeb is operated by Halifax Share Dealing, part of the Lloyds Banking Group'
Really shocked by the fact amounts are still outshanding
Still waiting for my money and waiting i will be . That 's what it looks like ???
They still haven't paid you out?!?!?!?!
Started: Dee12345, 22 Oct 2022 11:32
Last post: Dee12345, 22 Oct 2022 11:32
https://www.nmas.com.mx/nmas-focus/programas/nmas-focus/videos/suenos-mentiras-la-fiebre-litio
Unfortunately it's in Spanish
Started: BorderBob, 19 Oct 2022 20:21
Last post: BorderBob, 19 Oct 2022 20:21
Started: observer842, 9 Aug 2022 09:47
Last post: observer842, 9 Aug 2022 09:47
"OVERSEAS REGULATORY ANNOUNCEMENT" (August 9, 2022)
http://www.ganfenglithium.com/ir_detail_en/id/2539.html
===[
Recently, the Company received a notice from Shanghai Ganfeng that Shanghai Ganfeng has completed the offer to Bacanora. Shanghai Ganfeng now holds 100% equity interest of Bacanora.
]===
Started: BorderBob, 23 Jan 2022 20:20
Last post: MJFMSG, 11 May 2022 13:03
Will we get anything back ahhhh
Where are the BOD now? They should be shamed for their handling of this!
Pretty much same as me young foz. To which I'd add that looking here became more than a bit of a habit over the past 2 years (my first toe in the water was 13th Jan 2020).
BB is a bit of an enigma. I think he was my quickest ever filter after his first bizarre post, but after unfiltering on a whim one day I actually realised in the end that he was actually well informed and worth reading. Yes, I'm talking about you Bob!
Hope everyone does well in their future AIM investing/AIM gambling adventures (smiley face)
R keep an interest even as sold and gone because there’s been some informative posters on here. Who knows someone might find a local article about production or something else that could be relevant for other assets!
There’s always that 0.1% chance the govt uses its securities bill!!!
We’ve all moved on but check in now And again,
Iv even unfiltered BorderBob.
Because people are still attacking BCN management, now employed elsewhere, for selling out at a 50% profit.
Started: BorderBob, 3 Feb 2022 21:33
Last post: news, 23 Apr 2022 14:45
Just posted on KDNC.pl forum , Sat, 23 Apr 2022.
If interested , then ....
This is about Sonora [JV KDNC/BCN].
Wonder what history would have said if REM plc took over BCN at £1.
Observer942 posted that had REM take over Sonora, they would have had the MINE UP AND RUNNING BY NOW. My Comment: Then, there would be no excuse to take it over.
If Sonora was a mine and got taken over, then it could be it would head to International Arbitration as norm. I also read that lithium is NOW CHANGED TO "STRATEGIC ASSET" and there was comment that it was NOT SO IN THE FINE PRINT earlier.
So, whether one can agree and then change to Strategic Asset, I am not sure so one has t[o wait for the legal eagles.
Suffice to say, Sonora is at early stage and nothing has been done yet as far as I am aware except to clear the jungle or vegetation etc.
History now so have to see what transpires.
Wed, 20 Apr 2022.
https://www.reuters.com/world/americas/mexico-lower-house-backs-mining-law-change-nationalize-lithium-2022-04-18/
"The proposed bill would prohibit all private participation in the lithium market."
https://www.reuters.com/world/americas/changes-mexico-mining-law-set-nationalize-lithium-resources-2022-04-18/
Passed
Oh here we go again -- he did us a favour !!!!
"Vodafone Rejects $13 Billion Italy Bid From Iliad, Apax"
Hello secker this is how to deal with an inadequate bid !!!!!!!
That's what he might have stated, however, the current reported position is different.
Seems like Sonora is project full of broken promises.
Started: Matthew125, 18 Mar 2022 23:38
Last post: Dee12345, 14 Apr 2022 12:50
Most brokers have forcibly liquidated everyone now.
I just noticed BCN issued its 2021 annual report on February 28, 2022, signed by CEO Peter Secker. They now predict start of production by 2H 2024, a year later than the earlier estimate of 2H 2023.
https://bacanoralithium.com/_userfiles/pages/files/documents/bcn_annual_report_2021.pdf
I know a few people who have already had their shares sold and got payment.
I kept hold of 25k or so, just to see what would end up happening. Still got them, they are really dragging this out. Pretty sure at some point a compulsory buy order will go through.
Started: thompson123, 8 Feb 2022 17:30
Last post: thompson123, 8 Feb 2022 17:30
Started: ripley94, 8 Feb 2022 15:22
Last post: ripley94, 8 Feb 2022 15:22
BCN.ASSD.CSH.SH
Started: Itsouthere, 27 Jan 2022 08:03
Last post: Noddappy, 2 Feb 2022 19:30
Yes Bob, discussion about this on KDNC board. Its complicated, because ''the buyer'' is Sonoroy holdings. It looks to me as tho' Sonoroy holdings has been set up by the COE Estate and TRR (50/50). The Estate will hold their half thru a company called Marmottes Capital.
The Estate has always believed in the value of the Sonora resource. I guess this arrangement gives them access to monies 'up front' if the courts rule in their favour with the appeal. It will mean Trident pay them $25M by the end of 2023 (if I've understood correctly)
There's an RNS about this at the TRR board. "A deposit of US$2.5 million (the "Deposit") is being paid by the Buyer, with the balance to be paid upon completion of the Transaction, expected to occur in early-2023 following a favourable resolution of a dispute between the Seller and Bacanora (the "Dispute"). If the Dispute is found against the Estate, Trident's funding is fully repayable by the Buyer."
The royalties have been bought by a company called Sonoroy Holdings, of which TRR hold 50%. Sonoroy have paid 52M US for the priviledge. Thanks to @Mullins on KDNC board for posting this. Its messy, and I do think that one of the reasons that Secker wanted out was because of this royalty claim and the bad blood it caused thru the company.
Still interesting even if we no longer have a financial interest .
Trr picked up royalty deal on sonnora deposit, could generate them upto$75 million a year ....
Started: MJFMSG, 26 Jan 2022 14:02
Last post: MJFMSG, 26 Jan 2022 14:02
What happened . Where are we ?
Started: EV_Bull, 25 Jan 2022 14:15
Last post: EV_Bull, 25 Jan 2022 14:15
Bacanora has informed the London Stock Exchange that it wishes to cancel the admission to trading of Bacanora Shares on AIM (the "Cancellation"). The Cancellation is expected to take effect at 7.00 am (London time) on 26 January 2022 (being 20 clear business days from the date of this announcement).
https://polaris.brighterir.com/public/bacanora_lithium/news/rns/story/x2koj6x
Started: EV_Bull, 21 Jan 2022 13:26
Last post: mrcautious, 24 Jan 2022 18:41
obs842 - This is one helping of wishful thinking ! I hope you are right from the PoV of being a KDNC shareholder, but given how Ganfeng work they will want this off KDNC for peanuts and will play hardball if they dont get it for peanuts, and given how KDNC work they will probably just cut their losses !
Yep it is totally over now, with a slight of hand, over 90% has been hit and everyone will now get 67.5p for their shares. Thanks for the input of everyone, even Bob! I will still be checking here from time to time and I hope in the fullness of time, some light is shone on what really went on behind the scenes here. Sure that I will see some of you good folk on other boards.
So this is four-month-old wine in new bottles. And LAC is years away from production -- did they actually buy any land, or are these just mining claims that cost $250 per 20 acres? (Of course, with Covid raging in Sonora, I don't think Ganfeng will make any progress there soon, either.)
The nearby lithium project in Oregon, on state land, probably will start production sooner.
Actually it's year 11 in earnest...
For the avoidance of doubt: I expect mining from the 30% KDNC JV to get started in earnest sooner than in the current plan of year 9, and that more than 72kt of LCE will be mined from these areas in total - significantly more, perhaps an order of magnitude more...
Bacanora Lithium plc (AIM: BCN), a lithium development company, today announces an update to the level of acceptances and the level of ownership by Ganfeng International Trading (Shanghai) Limited ("Ganfeng") in the Company as at 1.00 pm (London time) on 20 January 2022. Bacanora Shareholders are also reminded that Tuesday 25th January 2022 will be the last day of trading for the Company's shares on the AIM Market, as with effect from 7.00am (London time) on 26th January 2022 admission of the Company's shares on AIM will be cancelled.
Ganfeng shareholding in Bacanora
Ganfeng has received valid acceptances of 235,987,368 Bacanora Shares in relation to their Offer. Once all related shares have been transferred, including Bacanora Shares accepted into the Offer by option holders under the Rule 15 Letters, Ganfeng will accordingly own 349,491,378 shares in Bacanora equating to 90.3% of the issued share capital.
Level of Acceptances for Satisfaction of Compulsory Acquisition
If Ganfeng receives acceptances under the Offer in respect of, and/or otherwise acquires, both 90 per cent. or more in value of the Bacanora Shares to which the Offer relates (as defined in the Companies Act 2006 (as amended) (the "Act")) and 90 per cent. or more of the voting rights carried by those Bacanora Shares, Ganfeng intends to exercise its rights in accordance with sections 974 to 991 of the Act to acquire compulsorily the remaining Bacanora Shares on the same terms as the Offer. Based on the figures noted above, Ganfeng has currently received valid acceptances equivalent to 86.2% of the Bacanora Shares to which the Offer relates.
Started: Dee12345, 14 Jan 2022 18:29
Last post: mrcautious, 20 Jan 2022 13:15
BB - I have about 50% of the value of what I had in BCN in ZNWD and bought way before the forced sell-out of BCN. ZNWD is a perfectly nice little investment but yes it is a shame that prat Secker has anything to do with it !
@ mrcautious -- What are you doing with your ZNWD shares? Did you notice that Peter Secker, non-executive director, was just granted an option to buy 150,000 shares for £0.1810 by 15 January 2027?
I have been waiting over a week for about £10k from BCN and have told HL to chase. Its one thing being forced to liquidate an investment on the cheap but when they make you wait for the cash its like beeing kicked in the goolies as well as slapped in the face !
I lost faith in holding out on Friday and sold; moved the money into COPL and am up 14% this morning.
My first rule of investing is don't have principles, have profits. It just took me a while to remember that.
Over and out.
I have thrown in the towel also I thought long and hard and couldnt see anything good for me coming out of this situation and seeing such a large sum of cash lying idle for a further indeterminate period got too much for me. Funny thing is I just read a newsletter from Dear Retail Investers talking about how good Li miners are as an ongoing investment. They didnt mention BCN but it does make whats happened grate further. I wrote numerous emails and a letter to Secker and never got any response. So I will go on considering he is a corrupt feck of a man forever !!
Started: Strangerstill, 18 Jan 2022 10:02
Last post: trikidiki3, 20 Jan 2022 12:44
"the Aussies haven't figured out how to get lithium from rocks."
Only because it hasn't been worth their while. Nobody was extracting Lithium from brine using DLE, but they are now. Necessity is the mother of invention. Now the value of the end product has soared every man and his dog are looking at ways to extract Lithium from various sources. I doubt Tesla bought 10,00 acres of Nevada without doing their homework on Lithium extraction from clay.
LAC is not a bad stock, reasonable people can disagree about whether there are better junior lithium miners. I bought BCN because of the Ganfeng involvement (and made a profit). There are those who claim that LAC doesn't know how to extract lithium from clay without Chinese technology controlled by Ganfeng, but I don't think it's that difficult. On the other hand, the Aussies haven't figured out how to get lithium from rocks.
Ganfeng own 19.9% of LAC so a major shareholder but not anywhere near enough to cause problems. Ganfeng own 46.7% of Cauchari-Olaroz but there are really good safeguards built into the JV agreement which would prevent Ganfeng from taking control or blocking any development unlike Sonora. LAC own 100% Thacker Pass in the USA. The US government will not allow Thacker Pass to become controlled by a Chinese company so Ganfeng are unlikely to be able to buy LAC on the cheap unlike Bacanora.
And of course LAC's major shareholder is Ganfeng. If you can't beat them, join them.
I sold out of Bacanora in August and invested in LAC, sold some LAC shares at a high and now hold £56,701 of LAC shares at a cost of £26,435. I feel sorry for all the investors who held on hoping for better things. The investors were totally screwed by the BOD who are employed to look after the investors interests.
Started: swissroly, 12 Jan 2022 13:47
Last post: BorderBob, 14 Jan 2022 14:42
@ fozdog It's a shame what BHL wants to do in Nevada at Spencer Hot Springs, a perfectly good location for nude bathing and now they want to chase people away. As for the Arizona clay sites, the competing companies are traded in Sydney and Toronto, and it's difficult to predict which has the better prospects. Lots of lithium in that area, but not enough hydrogen oxide.
Not my cappuccino foz. Too early stage, odd company history, a feeding frenzy of potential new small investors at present and no doubt a seemingly never ending series of cash raises to come. However I wish all that go down that route nothing but success - I'm usually wrong so you will probably be pleased I came to my conclusion!
nice pump
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.
Started: queerBongo, 13 Jan 2022 16:45
Last post: queerBongo, 13 Jan 2022 16:45
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 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.
@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.
Started: Kirk1976, 11 Jan 2022 09:24
Last post: johnpwh, 11 Jan 2022 10:39
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
Started: Shareseeker10, 8 Jan 2022 10:28
Last post: Shareseeker10, 8 Jan 2022 10:28
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
Started: Woolgie, 6 Jan 2022 12:33
Last post: johnpwh, 6 Jan 2022 19:56
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
Is Jarvis another British broker? Maybe "Jarndyce" would be more appropriate.
Jarvis was in on Tuesday
I'm with II. I accepted on the 22nd, got the cash on the 5th (yesterday). 14 days, exactly as it says on the tin.
Started: LivintheDream, 5 Jan 2022 13:40
Last post: Lorcanf, 6 Jan 2022 19:53
I received my ZNWD shares from Halifax towards the end of last week.
Ravinderdeol
I accepted offer on last day. My Halifax account has the cash and the ZNWD shares
Mapper
Wow
iWeb have finally paid out. I may treat myself to a small port or an egg nog
Any Halifax customer received their znwd shares? I sold on open market on 29th.
I accepted on 21st dec, and just been paid out by HL and Halifax....
Started: BorderBob, 6 Jan 2022 09:14
Last post: BorderBob, 6 Jan 2022 09:14
I thought there was an organization called ShareSoc, that spoke out for small investors, for example those that are being ignored by their brokers when special distributions and buyouts are involved. Is there not enough fundraising potential in all of these BCN fiascos, to make it worthwhile for them to get involved?