Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
......latest from Ganfeng's annuals that might actually be new news as opposed to a regurgitation:
In January 2024, the Mexican Subsidiaries filed the annulment claims with the Federal Court of Administrative Justice in Obregón, Sonora City
(“TFJA”) against the cancellation of nine lithium mine concessions. The legal counsels of the Company stated that the decision made by the Secretary of Economy to maintain the mining concessions’ cancellations decision issued
by the DGM is not the final outcome under Mexican law, and the TFJA will
make its final decision. The legal counsels of the Company believes that
the annulment claim filed by the Mexican subsidiary based on Mexican law,
analogous precedent, and factual evidence may lead them to prevail before
a neutral court, but they are still unable to make a judgment on the final
outcome of the annulment claim. Based on the opinions of the legal counsel and the progress of the litigation, the Group is unable to reliably estimate the possible outcome and impact of the proceedings. The Board will pay active attention to the progress of the matter and fulfil its information disclosure obligations in a timely manner.
-------------------------REM 5p London party-------------
I thought I had better post the ref: BCN told the market that REM offered £1 so REM never got a chance to put out a RNS. In the BCN RNS: IT WAS STATED THAT IT "UNDER-VALUED THE BUSINESS" and NO and end of ie very terse and short. The offer was ...off before it could even get off the ground sort of thing. This is NOT USUAL at all.
Then, the major made a bid at 45p and it was put to vote and the BOARD RECOMMENDED the 45p without any comment of it under-valuing the business kinda of thing. But I think there were unhappiness so the major sweetened it a bit with the Zinnwald shares which they had anyway. SO, I NEED TO PUT CONTEXT IN FOR COMPLETENESS. Oh, there was fury about DL even though he did what he said at the party ie he will make a chess move LoL [we all guessed it was a bid anyway otherwise what else is there?]. I heard that folks interpreted DL leaving his co's on AIM as he got disqualified as a director. I CHECKED AND SOMEONE HAD INDEED GONE TO THE FCA and the FCA put out online to the enquirer that NO, DL HAS ====NOT==BEEN DISQUALIFIED as a director in Britain. So, obviously, it has to be someone but who I dont know.
Suffice to say, one can check as it is on open file. Hence, DL is Chairman of an ASX co and on Aquis as well and not sure where else as I dont follow everything. From my figures, in the earlier post today, one can see that DL's $400m USD was close to the $391m USD that the major paid for BCN. The Zinnwald I did not take into account but it is close enough. Also, there were already rumblings about the govt so it was not top $ paid. It is an irony now that the major is going their own way to take action once legal counsel tells them what to do. REM Mexico has gone their own way and hired Clifford Chance, 1 of the leading global firms as legal counsel and CC is part of the Magic Circle in London of which only few firms are in. Also, the Mr Smart who cleared the road gave the govt the opening gambit so now yes, Sonora is in their hands but by a slip of the road error, the govt has taken the licence back. YES, THE 5P PARTY COULD NOT FIND FRUITION BUT THEN NEITHER IS IT GOING TO BE EASY EITHER for the major to get the project back without SPENDING mega sums in legal fee and it may take at least 2 years. SO, NO WIN EITHER for the chefs.iSNT LIFE STRANGE. Ends the story of REM. Sun, 21.4.24. Thank you for your time as I thought I would clarify since the 5p has always been something interesting and I did the cals and what DL said about $400m M & A.
Last part:
DL has gone on from REM plc days. But in real life, he has been credited by the commercial world for Sonora and now advises "Family Offices" per his Linkedin. WH Ireland said that many made from REM plc. So, those that lost got in at the height as norm. But , but. As for DL, he has NOT yet produced any BIG MAJOR TIER 1 deposit like Sonora. So, many just jumped in thinking this is KING MIDAS. Doesnt work like that. Any examples: Folks will recall Dr Burry of the "Big Short" fame and he has an entry in Wikipedia. But after that, he set up a hedge fund and took a short on Tesla via puts but that did not turn up. Same with ROARING KITTY of GAMESTOP fame. All quiet now.
Cut the long story short: LIKE HORSES, a trainer cant have a Grand National Winner every year. Or prize winning jockeys winning the Grand National every year.
LoL : I think Brits are not used to DL , an Aussie. I have listened to Twiggy and his corporate history and it was said he can talk the hind legs off anyone but no one would listen in Oz but the Chinese did. LoL. So, in listening to Aussie, I had to learn that they mean different things to Brits. In Asia, when they say, NOD, they only mean I hear you, not necessarily Yes.
So, that ends the story of REM plc. Yes, Jimb, I am aware of Ganfeng as I read their financials and they are awaiting legal counsel to advice etc. But that is no longer of concern to REM plc in so far as the story of its history goes. But suffice to say, that my instincts were right vs folks that sang the praises of you know who. Oh, he is a serious chap vs DL. I prefer people who talk rather than the quiet ones. That proved CORRECT. Then, it turned and oh my, the things said on BCN forum cannot be repeated about X or Y there ie the chefs.
Https://seekingalpha.com/article/4684251-ganfeng-lithium-staying-neutral-following-recent-investor-briefing
There's nothing to add from Ganfeng until they get some indication from their lawyers, that's how I read it.
Part 2:
--------------------------REM PLC LONDON PARTY 5P-----------
So, at 5p given 2.25p was £90m-------therefore at 5p it would be some £225m or at current FX of £1=US$1.24 , = US$279m vs US$391 PAID by Ganfeng for BCN.
DL from what I could perceive was saying that IF there was a takeover, the last M & A for lithium was $400m.
LoL, Ganfeng paid US$391m plus a few shares in Zinnwald.
As for Tesla, it is well known that even if the terms were attractive, it would not always be so, as it would draw other off-takers and it is all by private contracts, not disclosed by any lithium producer as norm. However, in more recent times, Australian big lithium majors are conducting OPEN LITHIUM AUCTIONS and they are getting better prices. The recent prices in lithium was due to using lepidote, a cheaper version but is more problematic to produce.
FORUM:
Please dont chide me as there are always folks jumping on any little dot. If there is a different view, then just correct if folks want to. But I was here on REM just after DL took over the shell and it was really a ....hearing the naysayers all day about the funding. If no funding how to drill? Cut the story short, it went from 0.04p to 2.25p. Like many other stocks where investors get into, it is a see-saw. Look at Havieron for example. The share prices swing.
So, that is the story of REM plc from my account of days here. Sun, 21.4.24. No doubt, Sonora will be of interest in time to come but that will be another story.
Yes, I am aware that it would have been covered. However, on Twitter, it is still of interest under the Mexican thread and there is nothing new yet as to how Ganfeng is proceeding. However, interesting, REM plc is doing its own thing.
I thought I would review Sonora, in particular and in general. I have thought further about the 5p REM party in London. LoL, I didnt attend. However, DL said that he would make a chess move. YES, THAT DID HAPPEN - REM offered £1 for BCN @Sonora which was turned down. But it was BCN that told the market that before it could be announced by REM. I note that over at BCN forum [now no longer exists], the chances of them voting for REM was almost nil. Why? My word, some leading characters from this forum were over there d...iiii REM & DL. Meanwhile, even Seeking Alpha an American site was impressed by DL's obtaining a TESLA off-take. Why? Who has heard of a tiny AIM co being able to obtain a Tesla off-take? A/c to Seeking Alpha of which I posted the link to and seen by some, they said that FUNDING was not going to be a problem. Funding as in capex etc. Cut to the chase: DL's Tesla off-take deal was REJECTED by the BCN folks per DL on Twitter later. I sent a Twitter article that BCN & et al [the major] was going to SUPPLY TESLA!!! DL replied on open forum on Twitter to say, that was the same deal he got at Tesla. DL said that lithium M & A was around $400m and this was during the time that the prices of lithium was pretty good. REM went from some 0.04p to 2.25p and at 2.25p, the MKT CAP WAS AROUND £90M+. So, 5p would be ========SOME £200M. ===REM PARTY IN LONDON. Fast forward, GANFENG took over BCN for US$391 MILLION [Ref: "Bacanora Lithium accepts Ganfeng's $391m TAKEOVER OFFER."- Mining.com, 27 Aug 2021. POST OFFER & NATIONALISATION BY MEXICO OF SONORA: Observer942 posted on this forum that HAD DL taken over Sonora/BCN, he would have got the MINE UP AND RUNNING. Yes, when REM was just a shell, the drilling was done very quickly and DL worked like mad. Also, had DL not done the Scoping Study for their part of Sonora at some NPV $1bn, then today, KDNC would NOT be able to speak to the Mexican govt. Why? No valuation so that was also what Seeking Alpha said was a good move by DL. MEXICAN TREASURY REPORT; SONORA IS OFFICIALLY VALUED AT "UP TO US$600 BILLION." I posted that on the KDNC.L page with link. BEHIND THE SCENES: That one will never know but suffice to say £1 by REM was rejected but some 45p from the major was accepted by BCN. Today, the Mexican govt has given the official reason [per their account] that BCN & major did not "PROGRESS" Sonora [exact wording more detailed] but the govt did not agree that a road or starting to build or clear some trees or whatever meet the criteria of progress, so called. BUT IF REM GOT A MINE GOING, IT WOULD BE HARDER TO TAKE IT, AS UNDER INT. ARBITRATION, THE SUMS INVOLVED WOULD BE BIG ie compensation if the govt lost. So, just posting what final conclusions I have gather
If you check 16th November RNS, it covers that,
Link: https://twitter.com/mxmining/status/1775193732767158328 2.4.24.
"Federal Court rejects Amparo from Ganfeng Lithium subsidiary."-Mexico Mining, 2.4.24
[REM MENTIONED].
[2] TRR LITIGATION RE: SONORA.
LORD ORR NAME MENTIONED IN LITIGATION. SHORT VIDEO FROM TRR [the 5 secs type]. Interesting.
Link: https://twitter.com/LondonSouthEast/status/1759524729306677281 19.2.24
[Focus IR]
Comment: Thought the old timers would be interested to see the REM name as KDNC not used. Why? It is still in REM Mexico 's name. Also, Lord Orr name in litigation or rather his family trust.