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There's nothing that should surprise you @News,
I've lived through and experienced the ups and downs of over the last ten years of REM/KDNC as of next month, just need more ups to balance things out!
@Observer842 would have posted with much greater detail than you will find in my posts, I did exchange many views with him - we touched on this a week back, he is certainly missed on here.
||LoL
I have just looked at several pages of your postings on this forum. What I found was very interesting.
Especially, now that you quote HANWA and every the paragraph is separated like OBSERVER842 style, exactly.
I can remember his going on about HANWA.
Observer842 stopped posting and his last post is on INSP. Even breaking PARA'S USING
===
is typical of his style. So, there is a fan of Observer842 here, hence the style Good night, Sir. Got it solved. 22.4.24 [Mon]
@News.
Episode 2
Apr. 13, 2017
Hanwa Co., Ltd. (Registered Head Office: Osaka, Japan ; President: Hironari Furukawa; henceforth “Hanwa”) is hereby delighted to announce its decision on partial capital participation in Bacanora Minerals Ltd. (- TSX-V : BCN & AIM: BCN – the Canadian and London listed; Executive Chairman: Mr. Mark Hohnen; henceforth “BCN”). Hanwa shall acquire off-take up to 100% of the battery grade lithium carbonate produced at Sonora Lithium Project and aim to market it to meet the expected growing demand from Japan and other countries around the world.
1st Stage – 17,500MT Lithium Carbonate (※ LCE) per annum
2nd Stage – 17,500MT LCE per annum
(Totally maximum 35,000MT LCE per annum)
Sonora Lithium project holds outstanding lithium deposits with significantly low amount of impurities, consisting of unique type of ore, so-called, clay, and with the full use of it, Hanwa seeks to establish itself as a new lithium supplier in this fast-growing market and fulfill a stable supply obligation towards our existing and new customers.
End of 2018 – Early 2019 Production commencement
https://www.lse.co.uk/rns/KDNC/bacanora-minerals-update-pnacgc13km033ab.html
Hanwa has committed to assist Bacanora in securing the debt financing component of the funding package required to enable development to commence following completion of the Feasibility Study.
· Preliminary introductions made to date by Hanwa have been positive first steps towards securing such additional future financing requirements.
Commenting, Kiran Morzaria, Chief Executive Officer of Cadence, said:
"This strategic partnership is a pivotal moment in the development of the Sonora lithium project. The off-take agreement for up to 100% of battery grade lithium carbonate, not only validates the production process, but also reduces the risk profile and importantly means that the Project has a strong strategic partner that provides an excellent foundation for project debt financing, construction and production."
If only - I wonder if Hanwa thinks so?
So, I will now LEAVE it to BARKSY1 since I have never contacted Kiran. Barksy1 can inform him.
However, the 1 point that I was trying to make in my post before I went astray was that REM SHOULD HAVE SUCCEEDED IN THE TAKEOVER OF BCN given Lord Orr & DL has some sort of understanding. Moreover, Lord Orr passed.
Now, SONORA is a mess because neither REM nor GAN have Sonora anymore. Gan has NEVER included REM in any co-operation , hence both co's have not approached the Mex govt but rather each is going their own part. Many REM 5p London party would appear very aggrieved due to all the MISSED INFO on the stock forums, esp about DL. But facts show that what DL told the REM at the party, there is going to be a chess move, that he did. BUT IT MUST HAVE STUNNED HIM THAT IT WAS REJECTED IN THE WAY IT DID, AND NEVER PUT TO BCN SHAREHOLDERS despite it was a generous offer of £1 vs Gan's 45p initial bid. Seeking Alpha of USA felt that the TESLA OFF-TAKE WOULD HAVE OPENED THE DOORS TO THE FUNDING OF THE START OF THE PRODUCTION @SONORA. THIS MANY OF THE REM 5P PARTY DID NOT KNOW ABOUT AND THAT BCN/GAN WAS GOING TO SUPPLY T E S L A [link provided]. So, now that so much of the info has come out, REM'er at the 5p London party should be informed. That is history now but going forward, at this time, SONORA MONEY WOULD HELP CADENCE. So, I will now leave it to Barksy1 since she organised the party and knows who all the REM'er are. Hopefully, IF DL is informed, he can say something knowing that the gov is not going to grant what Uncle Sam is not happy about per Bloom reporting. Hope that clarifies. Mon, 22.4.24 Ta Ta.
Oh so close,
another $7bn
President Biden announces $7 billion in solar energy grants
Link to GAN DEBT: $3.42bn vs Mkt Cap $9.23bn.
https://companiesmarketcap.com/ganfeng-lithium/total-debt/
WHAT ONE WANTS TO ACHIEVE IS A RECOVERY FOR REM 5P LONDON PARTY PARTICIPANTS.
Hence, why folks need to know about REM Sonora and the awaited update due. Mon, 22.4.24.
The point was I was making was that from looking at just the spend @Gan, they are not in recent day, into mega investments. Therefore, IF, US$391m paid for BCN/Sonora was just loose change like a dime to a billionaire, then international arbitration would not be on the agenda per their latest a/c, pending legal counsel's advice. I have just checked and it is correct: GAN DEBT IS "AS OF SEP 2023 IS US$3.42 BILLION."!!! [Mkt Cap $9.23B @$5.03.
That appears to be not a small debt load and hence why they want to recover their US$391m paid for Sonora which has now been nationalised. THAT IS NOT REM'S CONCERN BECAUSE REM DOESNT RUN GAN. Hence, that will also be Gan 's dept given they will realise how they got into this mess? Well, they have to ask the OTHER OZZIE, not our DL, the Aussie Chairman of REM. Why? ACCORDING TO THE AGREEMENT [informal or otherwise one is not told nor privy to but DL said they were sort of agreed ie he and Lord Orr] REM would have taken over BCN@Sonora. Otherwise, why did REM acquire close to 20% of BCN and a/c to Canadian rules, that is the threshold for takeover vs 29.9% UK. DL told the ole timers about the Canadian rule. So, that is GAN's biz as to sort it out with the genius that advised them. Suffice to say, Gan has gone their OWN WAY and all the article and KDNC RNS of 16.11.23 does NOT MENTION GAN AT ALL. HENCE, CADENCE APPOINTING CLIFFORD CHANCE, LEADING COUNSEL FOR POTENTIAL INT. ARB. IS FOR CADENCE and GAN gets on with their side. Not the choice of REM MEXICO given the JV partner was not amenable to even DL/s offtake deal with Tesla and killed it per DL on Twitter [LINK GIVEN].
What we need to ascertain is what is happening FURTHER TO THE NEGO/DISCUSSION with the gov ---------and what is being done with funding ie seeking no win no fee legal counsel ti file the claim? It is now OVER 5 MONTHS, and perhaps Kiran will have to ask counsel and INFORM THE MKT. I hope that clarifies. Problem here is, I am not sure if you are part of the private forum for REM, set up due to the noise here. IF YOU ARE, THEN YOU MUST BE NUANCED TO EVERYTHING I HAVE SAID except maybe some things I had not posted in recent times. So, there is a lot of confusion as I dont know what you know or dont know and you are just as puzzled. BARKSY1 IS ENJOYING HER TIME OFF AS SHE SAID SO NO ONE TO ACT AS INTERMEDIARY as to what A is saying and what B understand or is not informed. This is why there is confusion.
@News,
That's why I posted on Thacker Pass and LAC having to raise $275m, Ganfeng were involved heavily in Thacker Pass but when Trump started the rhetoric with China Ganfeng made a beeline for Sonora - if I recall the team flew in from Argentina instead of heading to Nevada - of course between LAC and Ganfeng other projects in Argentina was a means of divesting - LAC with a loan facility to build a processing plant but not a mine?
Ganfeng did a great deal of work on their flowsheet.
Lithium Americas Stock Jumps on $2.26B Conditional Loan From US Department of Energy - that was March 14th and yet they need a cash raise for the mine - as I stated if Mexico thinks the Ganfeng deal is not a good deal!!
Today:
Lithium Americas Closes US$275 Million Underwritten Public Offering
And they are looking 2027 for production, Ganfeng could have been three years ahead in Sonora.
It will take an election with a different party leading IMO - cringe!
In her speech, Sheinbaum also said Pemex could participate in the exploration of lithium, and some renewables production.
P.S.
Mr S of BNC@CEO told Mexican press [links I have already given] that SONORA WILL BE THE WORLD'S LARGEST LITHIUM PRODUCTION PLANT IN THE WORLD.
Contd
If ordinary people like those in the days of REM etc knew that Uncle Sam would NEVER ALLOW a Middle King^ co to take one of the largest lithium clay deposits in the world and set the production factory in Sonora which is a/c to the old timers, a stone's throw from the USA @Tesla. Now, Tesla is COMING to MEXICO and therefore, it is PROVEN THAT MEXICO IS SETTING UP =========="THE SILICON VALLEY OF GREEN ENERGY.======== Is it a co-incidence that the Presidential Frontrunner appointed or approved by the current President is an expert in energy?
GAN: Sooner or later, they will wake up given there were already whispers then so how did they get in and pay US$391m. In recent times and days, Gan has invested a few millions BUT NOTHING LIKE US$391M so to them , it is a LOT OF MONEY going by what I have checked of their recent investments. Maybe, they have used up too much $$$ for Sonora NOT aware or told that there were ALREADY FLAGS not in their favour. IN REM/S FAVOUR : YES DUE TO FIVE EYE and UK is 1 of 5 and so is Australia. So, the BIG MISTAKE was to go with what UNCLE SAME WOULD NOT ALLOW to be so near the border to US. In discussions on this site, folks pointed out that if a big co set up in SCOTLAND TO THE BRITISH BORDER, it too will NOT be allowed. So, the rationale was known to all laymen so how did Gan not know or did no bird tell them?
AH WELL, THAT IS HISTORY NOW. SO, DL IS MORE NUANCED THAN HIS FELLOW OZZIE. Why? He hurried whilst the other cleared a road and the next moment in 15 days SOLD SONORA away to the C major as shown on their Twitter feed to which I gave the link to show the pic of the clearance. This is what the gov picked on. So, DL must know from experience that it is not wise not to hurry and get things going. LoL.
LITCHFIELD: NOW CALLED EVERGREEN.
Next to Finniss, NT, Australia. Looks like they found big pegmatites per the latest RNS. So, hunch correct given it is NEXT DOOR to Finniss. That was the lithium project I was keen on.
Lets see what Kiran says. Thank you.
Contd
one does NOT allow the opposing party to linger. After a reasonable period , the answer or no answer will suffice. Then REM will have to obtain FUNDING and quite a few co's offer funding for a cut of the compensation. Herein, the REM scoping study provides the underlying value metrics.
KIRAN: Perhaps he is busy with Amapa. I have checked Co House for REM Mexico today and yes, bells are ringing. So, someone has to give Kiran a call as he may have completely forgotten about Sonora with so much to do at Amapa. But shareholders ARE LONG OVERDUE on an update which is PRICE SENSITIVE NOW.
REM 5P PARTY: I am aware many held pretty large stakes. DL is a sympathetic person from what one perceives per Twitter . Thus, Amapa was the replacement set up by DL after the Sonora fiasco of the takeover by the major. Perhaps DL can now do something given BCN/GAN is not what WC wants and it is public knowledge now, even Blooms is reporting on it.
So, any resolution of Sonora would help the REM 5p party folks a lot given the gov let the cat out of the bag ie up to $600BILLION valuation for Sonora. Kiran must also be asked about the VALUATION METRIC FOR THE CLAIM GIVEN THE REM SCOPING STUDY DONE AND COMMISSIONED BY DL CAME TO AN NPV OF SOME US$1BN+ and is favourable to the NPV of Bacanora. So, compensation ICSID is standard either on FAIR VALUE or VALUATION metric [ I looked it up].
Time is running on and perhaps DL's help is also needed. I decided to post this further info once Barksy1 posted given Barksy1 arranged the REM 5p London party. Forgot what Barksy1 said was the treat. I only recall Barksy1 said the food was TOO SALTY. I think the party was THE EVENT THAT WAS THE HIGHLIGHT OF REM LoL. Mon, 22.4.24. Sorry for errors as I am not editing and wearing tinted glasses to cut out glare so not very ideal.
The order of news:
[1] "Mexico PUSHES TESLA to start GIGAFACGTORY construction soon, but it hesitates."-Electrek, 19 Feb 2024.
[2] "TESLA courts CHINESE EV Supplies to Mexico===STOKING FEARS IN WC."-Bloomberg, 14 Feb 2024.
[3] "TESLA layoffs will NOT affect MEXICO Gigafactory plans."-Auto Spies, 18 Apr 2024. https://www.autospies.com/news/index.aspx?submissionid=1211025
[4] "Faulty CYBER TRUCK steering wheel part made in MEXICO."-Daily Mail. 1 wk ago.
Comment: One will see that the TESLA JIGSAW discussed during the REM days and David Lenigas obtaining the TESLA Offtake [the opening gambit to funding via off-takes was the key to unlock Sonora then] now coming to fruition. How? LoL, TESLA WAS COGNISANT THAT LITHIUM & LABOUR ETC in Mexico was the ideal since it is just across the border to USA Tesla. This is even more advanced that just supplying LITHIUM TO TESLA USA OVER THE BORDER FROM SONORA, MEXICO. Why? =======TESLA IS COMING TO MEXICO & CYBER TRUCK IS BEING MANUFACTURED IN MEXICO.=====
However, it does NOT look very positive that GAN will be allowed to operate @SONORA but from the above Bloomberg article, it does look now that it is a "POLITICAL ISSUE". That is outside the scope of REM plc who are NOT a C. co but London listed with no affiliations etc to ...so not stoking any ...with WC. If one looks at the whole picture, all that DL planned , HE DID CARRY IT OUT but no one could have FORSEEN that a fellow Ozzie /Mining Engineer would go their own way instead of co-operation with REM. Why? It is now obvious and proven that the ROAD CLEARANCE gave the govt the opening gambit and selling to GAN was a disaster. EVEN SHAREHOLDERS DISCUSSING IT were aware of Uncle Sam not allowing it due to nat sec. and now PROVEN RIGHT. ALL THE PLANS WITH LORD ORR AND DL WERE TO SET UP SONORA AND IF THIS WAS CARRIED OUT, TODAY, IT WOULD BE DIFFERENT AND WOULD BE NOT STOPPED IN ITS TRACKS.
Claudia Shabeum is an appointee of the current President so it is likely he approves of her plans to get MEXICAN TECH and to this end, they have already done work, visited countries to probably get know how. So, if one looks at this seamless succession plan, it does not look too hopeful when the gov would NOT EVEN COMMENT on the proposal by GAN JV with the gov.
REM VS GOV: The RNS was dated 16 Nov 2024 and it is now MORE THAN 5 MONTHS since appointing Clifford Chance, leading international counsel. Clifford Chance is nuanced in international arbitration. Int arb centres are in Paris, Washington DC, London and Geneva. In another case involving a AIM co and DRC, legal counsel said that a/c to the Treaty of Rome, arb is to take place in London or Geneva. But for AVZ vs DRC, the arb. took place in Washington DC. By now, REM Mexico would have heard from the gov as to whether they have decided to settle or not. IF THEY WONT SETTLE, that too is O.K as that is the answer needed for submission for the writ and filing for int. arb. Even in normal litigation, one d