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KM made it clear he is open to sensible offers from Ganfeng but also a toll treaty arrangement is another option open to us. It is in Ganfengs and our best interest in some kind of deal at some point in the near future. They are making money hand over fist at the current lithium prices let’s not forget and will be keen to develop this as soon as possible.
Land purchases (in our JV area) for expansion etc…
For curiosities sake....
What are the main ways to dissolve or terminate a joint venture?
For the sake of completeness, in this section, we will cover both dissolutions of a joint venture and termination of a joint venture corporate entity. The primary methods of bringing a joint venture to an end are as follows:
Consensual termination
As the name implies, the joint venture is terminated following an agreement by all parties. As there is a common agreement, this is the most straightforward method of termination. In general, the main termination provisions in the joint venture agreement will be followed, including in relation to confidentiality and restrictive covenants. Assets can be dealt with by using the same method as when they were transferred or acquired. Any assets (e.g. intellectual property) created by the joint venture entity requires careful consideration in terms of who will continue to retain ownership etc.
Sale of interest
There are several ways of selling interest in a joint venture. Much will depend on the circumstances of the dissolution or termination and the set-up of the joint venture entity. A sale of interest can be carried out in one of several ways, including:
Based on pre-emption rights - if the intention is to sell to a third-party, the documents drawn up in the initiation of the JV should specify the rights of the shareholders who are being advised by another shareholder of the desire to dispose of their holding (e.g. the right to purchase a pro-rata proportion of the shares which are intended for sale). The third party then has to enter into an agreement with the remaining shareholders.
Default or deadlock - there are several options where a sale of interest is not consensual, including using put and call options, ‘Russian roullette’, and Texas (or Mexican) shootout. These are different methods for how shares can be offered for sale and be accepted or rejected.
Winding up - in circumstances whereby the venture and relationship have broken down irretrievably, it may be agreed by both parties that the JV should be wound down and the assets dealt with accordingly. In this situation, no third parties are involved, and assets are typically returned to those who contributed them.
So why would Ganfeng invest hundreds of millions and then suddenly stop when they need ore from the JV area? Which they will need far sooner if the increase production. It makes no sense.
Re - BCN jv, my view is Ganfeng will offer us a song for it and if we say no it will just sit there till hell freezes over. Its basic commerce and the way Ganfeng roll. If you look at a car on a forecourt and offer the realer 50% of the stocker price and he says no and wont budge - what can you do, he holds all the cards you do not !
I'm with Gary. What a load of egotistical waffle. Have a word with yourself. Good-bye, filtered.
But fair (I've been watching "The Apprentice: You're Fired!"). : )
Bit harsh.
MBW,I am sure you are probably a decent person,but your constant perpetuation replying to those who have no interest in KDNC means you are filtered.Your argument for your continual posting on this issue is I feel is ridiculous.As has been said by more than a few posters on here,if no one responds they will stop posting, they would just be speaking to themselves.You are indeed as bad as the dross you are replying too.Shame you dont take the advice offered.Nothing personal,but necessary.
P.s these nonsense posts and things falling off the cliff here is exactly why I set up the sub-Reddit up so we could at least have the research in an easy to find format. I think it works very well.
I’m sure they have a price they would be willing to accept like everyone else will have.
1.8m options at 29p each plus shares so let’s say £1.29 which would mean £1.8m profit plus their shareholdings, I suspect they’d take it at this point, but in a year or two’s time we could easily be heading towards that kind of price, the market has to start believing at some point! Perhaps when the PFS is out, the IRR should be pretty compelling if it’s around 90-100% which is what my figures suggest.
@EV: "Arbitrary figures Mike to illustrate the point, substitute it for £5 if you like and £150m for £2bn, obviously it would be dependant on whether it was backed by management too. The thought experiment illustrates how undervalued we are though."
Spot on about being dependent on whether a potential takeover is backed by management. I'm sure the majority of holders would be quite disappointed if they recommended a 40-50p takeover whilst we are sat just short of 30p with various company defining news on the near horizon, despite it being at a premium which would be considered quite healthy for a mainstream FTSE share for example. But it's not the sort of margin many (I'd say the majority of volume) invested here are expecting from KDNC for our risk/reward profile - and why many BCN holders feel wronged by their management. But £1? I'd personally be disappointed if they recommended this, but many might go for it - pretty impossible to say really, I certainly wouldn't if it were a hostile bid. As to £5? Lol, I think even I might be tempted to cave into a hostile bid, unless the BoD could demonstrate convincingly why they believed even this to be undervalued.
Ob.
Mike, with respect, I think you are wrong. Barksy and JimB have exactly the right idea. You are always one for promoting newsworthy posts and keen for them to be visible regularly. By feeding the ducks, all you are doing is allowing the board to be filled with utter nonsense (ironically I am doing exactly that at the moment). It really isn't that difficult :)
...don't let those tears fall into your cocopops Nick
KM had us screwed over by BCN after he fluffed his lines on a live webinar , or JV contract is dodgy that’s why he never talks about it, and eve. forgot about the investment all together in a recent interview.
Gangfeng will
Offer us a happy meal for our dodgy JV holder
MBW, since I took Jim’s advice and filtered all the dross that floats to the top, life is so much sweeter . We know they have an agenda and so by replying to them feeds them IMO . They love YOU because you are giving them the ability to disrupt the thread. No food and they starve and disappear in my opinion.
It was meant to be ironic in the same you were being when you said ‘gee thanks Legalease’ No offence was intended.
Some people need to get a life outside this BB. And just comment when those transformational RNSs appear.
Recommending DD’s post as wouldn’t wNt this thread to disappear:)
Indeed, Ganfeng is publicly listed so we will be able to follow progress through their announcements and reports / presentations.
http://www.ganfenglithium.com/aboutz_en/id/5.html
http://www.ganfenglithium.com/ir_en.html
Sorry ev what I meant was could Ganfeng take Sonora private , but of course they won’t do that , I hadn’t thought it through .
It appears Sonora should be a win win for us, it’s a matter of how much then and possibly in short time . Will they still have the tag and drag arrangement with us we had with Bacanora or has that gone with Bacanora
like/ l mist it
know wonder you do not my placement idea,lol
mike how long you been in the share l have looked on wayback and you have only been a member since 2020, lth my ass
zoom// sorry if so but he/she just lit my blue touch paper after what he has written in the past!!
100 ,, 200 ,, 300% and before!!
Mike I guess DD doesn’t want this positive thread to survive. Looks like a deliberate attempt to get it removed before too many good folk get to see and understand the value here.