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Has anyone got a handy table of all lithium plays on LSE.?
I know of SAV, and Cadence Minerals, and of Bacanora., but it would be useful to know about any others, so a comparison of mkt caps, vs project size/progress can be put together.
From what I’ve seen so far, I reckon Erris/zin will be significantly undervalued based on current sp, compared to these other stocks, and in the case of SAV/KDNC, and possibly Bacanora with their Sonora project, ahead of all of these guys.....
Any alternative views?
L.
Kmcd1990,
If you’ve got your shares in a nominee account, when Erris publish the admission doc, and the egm details, all of that will go to Halifax rather than yourself.
So, once the admission doc is released, and the egm date announced along with the egm proposals, make sure you’ve read through the proposals, and made your decision about how you wish to vote against each proposal.
Then contact Halifax, and tell them that you want to vote on each proposal by proxy at the egm, and tell Halifax which way you want to cast your vote (ie yes or no for each proposal).
Halifax should the. Take those instructions and pass them on to the share registrar for Erris Resources, who in turn then presents the sum of all such instructions to the egm chairman on the day of the egm.
It would be worth finding out who the registrar is, and copy them on your instruction, telling Halifax that you’ve done so, to make sure that Halifax actually send off proxy
instructions for all their nominee account holders To the registrar.
Also, you can copy in
Anton@errisresources.com, and aiden@Errisresources.com
These guys are Anton du Plessis, and aiden levelle - the head guy, and head geologist at Erris.
If you copy those guys in, as well as Halifax , then Halifax have less of an excuse not to send the instructions through.
I only mention his because some nominee brokers don’t always pull their finger out and do what they’re supposed to do when it comes to things like proxy voting at mg’s and egm.’s as its outside of their bread and butter execution only service remit. Makes them have to put some effort in, and they don’t seem to like doing that.
Rgds
L.
Given that bcn has put on 50% since the announcement I think we are going to do very well indeed when this re lists.
Bcn flying all good for erris.
That's brilliant, thank you very much CP52, explained very well!
Thank you CP52. Sorry for such obvious questions, but how is it you go about voting yes?.....my shares were bought through Halifax sometime ago.
Some info please "idiots guide"....I bought erris resource shares quite a while a go, and now see it has been suspended due to the ongoing deal occurring.
As simply as possible, what does this mean for my current share holdings, and is there anything I must do apart from sit and wait?
Thanks!
Rm, This will take off when you get relisted. ATB
Has suddenly gone up over the last few days.
Obviously was just a rumour
Disappointing
L.
Yet on lifting the suspension?? I hope it won't be too much longer now.
Telegram chat - new group
https://
t.me/
joinchat/
SsO9Nhq8JVsxQ-euzMmWdA
It’s only a rumour, so don’t shoot me down if I’m wrong....
L.
JET47,
Personally, I think this is a good acquisition.
50% stake in a mine that will produce 3640 tonnes/year LiCO3 (net to Erris) that's at advanced stages of developments, and 1.35m eur cash.
And at what cost? - Dilution of your stake by approximately 70%.
I.e. total amount of shares in Zinnwald Lithium will be c. 130m shares
Zinnwald Lithium has a NPV of 428m EUR.
However, Erris will also be diluting shares further through placing at 5p to raise funds for this project.
So will have to wait and see what happens. Medium term, share price will rise as the development of the mine advances.
'... the intention is to return Erris Gold Resources to public markets asap.'
Whether I think this is a good thing or a bad thing depends on how long they take progressing the Loch Tay Project to the point where they do actually return EGR to being listed. That, and the share placing. And now I have to research the lithium project.
At a guess...
Your current "Erris Resources" shares will change name to "Zinnwald Lithium" when suspension is lifted.
You will be issued shares in "Erris Gold Resources" which will stay suspended until it is back in the public markets. I'm not sure if this will appear in your portfolio. And i'm not sure if you can even do anything with these shares until back in the public markets.
How will that work with the majority of private investors holding shares via brokers?
This is a new one for me!
From Erris:
"Your share in Erris Resources will become a share in Zinnwald Lithium and you also receive a share in Erris Gold Resources which will be spun out as a private company but as the Loch Tay project develops, the intention is to return Erris Gold Resources to public markets asap."
Shafted? Not at all I don’t think.
Bear in mind that existing shareholders will get a pro rata stake for the Erris Gold exploration in loch Tay as a spinout from Erris, whilst retaining their Erris shares. 5p is fairly close to current share price and Erris is getting a late stage lithium play, which I imagine once it’s in production given the future demand for lithium could well command a very good premium...
On the face of it, I think this could be a transformational deal for Erris and Erris shareholders.
Ive had confirmation from Erris that existing shareholders get the pro rata stake in Erris Gold Resources btw.
Obviously this is all subject to the future detailed announcements about the proposal, but I think this could be very good for Erris shareholders
L.
I thought that but they are spinning off the gold (albeit unlisted) and giving 400k in cash so that's probably worth 2p a share or so
For new shares to raise money for Erris. Truly shafted.
Note: New name for Eris will be Zinnwald Lithium Plc.
I guess we can say that Aiden kept his word. We've had our update by the end of the month!
· Bacanora will be selling its 50% share in DL plus €1.35m cash in exchange for new shares in Erris, giving Bacanora a 70% ownership stake in Erris and a net profit royalty. This percentage ownership will reduce as Erris will be raising additional funds by means of the Placing as part of the process in order to accelerate the further development of Zinnwald.
If anyone hasn't already, read down to underneath the accounts, to '9 Events after the reporting date'.
It's also noteworthy that David Hall and Osisko Gold Royalties which hold 32.7% of the existing shares have already voted yes to the Acquisition.