Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Interesting. This site has been closed down as one cant get it on search. Have to go through search kdnc.pl externally.
Degsie is no longer posting since Mar 2024.
So, research is thin on the ground for KDNC.
Tues, 23.4.24
Oh, Our former Chairman's co is No 1 top riser today. Their lithium licences 100% & JV licences are "next door" to the majors. [Source: UK Investor Magazine today, 9.2.24]. At one point earlier, stock up1 03%.
Nice. Another lithium project in Australia. Chairman likes lithium. Oh, REM Mexico has news out that they hired Clifford Chance, leading international law firm to speak to the Mexican govt over their Sonora lithium project which has been nationalised [together with Ganfeng who are the 70% JV partner]. Kiran, CEO of Cadence said that after that causation and only then can international arbitration take place as nomr [per the rules]. Ganfeng has not yet done anything further to them saying they want to take up international arbitration. KDNC is the new name for REM but REM Mexico still holds the Sonora lithium 30% JV project. Nice of the Mexican govt to release their Treasury Valuation of Sonora at $600bn USD.
So, news about our Chairman's [ex and founder] Sonora project and his other lithium project in Australia.
News, 9 Feb 2024. Not checking for typo's as rushing.
The Mexico govt has taken over the licences of Sonora ie Ganfeng's and JV with REM Mexico Ltd.
REM Plc was the old name for KDNC.
David Lenigas, former Chairman of REM plc star project at Sonora FALLS.
Below is the history and how it slipped from REM plc.
Now, on Fri, 1 Sep 2023, another potential star arises.
KDNC RNS, 31 AUG 2023 -SONORA UPDATE
Per the RNS, the licences have been taken back although not final if I read it correctly.
The info I got was accurate: "MEXICO NEGOTIATING RECOVERY OF LITHIUM CONCESSIONS."-BNAmericas,
25 Jan 2023. The name of the co was not named but there can be no other co except Ganfeng who owns the Sonora project +30% JV with KDNC.
FINANCING OF SONORA
"Mexico values it Sonora lithium deposits at $600bn."-Mining.com, 22 Sep 2022.
It is going to take deep pockets to develop SONORA especially the technology.
The technology is the main bug bear as clay deposits in commercial quantities is not going to be that easy.
"TESLA eyes Mexico expansion, earmarking new export hub NEAR SONORA LITHIUM DEPOSIT."-Proactive Investors, 1 Feb 2023.
Conclusion:
1] At its height, REM plc under DL at 2.25p had a mkt cap of £95m.
According to DL, it was correct now proven that it could be taken over at some $400m if a past takeover was a benchmark.
So, what went wrong? As Seeking Alpha stated that once REM got TESLA as an off-take partner, then
FINANCING would be much easier with banks.
DL had in recent times revealed that the board was NOT in fa vour.
But after the takeover of BCN, Ganfeng was going to sell to Tesla the lithium!!!
Shareholders rejected REM plc's £1 takeover offer and when finally taken over it was some 45p headline.
Also, shareholders of BCN had said tis and that and in the end, the takeover price was 1/2 of REM's offer.
Kiran Mozario, CEO of KDNC recently said in an interview that had REM plc taken over Sonora, IT WOULD HAVE BEEN IN PRODUCTION BY NOW. Then, of course, with a mine going, any takeover would be much more difficult
as mine licence would have been granted and it would go to international tribunal if it got taken ie it is an asset.
Shareholders of BCN were not happy with the takeover price and thought it was worth 10x more and related this to a newspaper but they forgot that it was at risk by then from nationalisation.
Well, at least we know the end of this story and will have to wait until there is further development if any.
I regret posting on this forum as I did not like to post some commercial reality given that at that stage, the price had risen and if REM'ers wanted an exit at par, they could do so. Many AIM co's lack liquidity these days as many have left
buying AIM stocks and the stock market itself has been very volatile in the last few years.
I cited below Kiran Mozaria, CEO of KDNC's interview with Stockbox on 31 July 2023.
Mr Mozaria was so enthused about the success of their investee co, EVERGREEN which KDNC listed on the Australian Stock Exchange and has such a HIGH MKT VALUE of some £27m [A$60m to A$53m recently] WITHOUT 1 SINGLE DRILL
carried out on BRYNOE [old name Litchfield, Northern Territory, Australia NEXT TO CORE LITHIUM'S FINNISS Lithium project].
[1]So, I went back to have a look at what Mr Mozaria said about Litchfield and came across his interview with VOX.
Mr Mozaria said that KDNC INVESTED SOME £800K INTO THEIR 3 AUSTRALIAN LITHIUM LICENCES and their
share of some 8%+ is worth £4.1 Million. YES, A VERY GOOD RETURN as said in such a short time.
-----NO WONDER WHY AT THE LAST AGM of "we dont make much of our Australian assets" to current thinking of
looking for perhaps MORE LITHIUM PROJECTS. !! Hence, those going to the KDNC 2023 AGM should ask Mr Mozaria more about this IF THIS IS THE DIRECTION FOR KDNC moving forward???
[2]Here and there, from the 2 interviews, I get the gist that for AMAPA , the iron ore project, Mr Mozaria is looking for a trade sale, JV etc OR LIST ON THE AUSTRALIAN STOCK EXCHANGE ie SPIN OUT. So, have to wait to see.
[3]SONORA Lithium, Mexico --KDNC 30% JV.
KDNC's broker has produced a broker note and they used the sale of Bacanora LIthium to Ganfeng to do the calculations and provided TWO figures, one discounted and one not discounted for country /sector risk etc. So, that is going to be as and when.
KDNC IS STILL AN INVESTMENT CO.
For this reason, it depends on what happens to Amapa. If KDNC does a JV or sale or spin out, it will mean that
KDNC will be back to the days of REM plc. Why? Does it go with 1 project in the main ie at Sonora? Or does it go the
post REM plc days ie investing in early stage junior explorers?
Mr Mozaria is cognisant that the market will not attribute a value to Amapa to be reflected in a higher mkt cap attributable and this is from Mr Mozaria himself on 31 July 2023. Why? Since Amapa is a iron ore asset of which they are part owners, the market wants to see CASH FLOW , EBITDA to fully provide a note for a higher valuation.
This is why KDNC is and Mr Mozaria himself is cognisant and therefore the future of KDNC will rest on the strategy moving forward. KDNC is not alone in this and as Mr Mozaria said, SONORA would have already come to PRODUCTION
if REM plc [old name for KDNC] had been successful in taking over Bacanora Lithium at £1. Gen did not offer £1.
Many commentators like Seeking Alpha said that with LENIGAS GETTING IN TESLA, then funds to develop may have been forthcoming from the market as norm as they see a potential off-taker in situ.
Now, that same TESLA is building a giga factory on the doorstep of SONORA and I wonder where the lithium is coming from? Those from REM plc days will remember what old timers talked about ie SONORA is on the DOORSTEP of car manufa
Kiran Morzaria , CEO of KDNC interview with Vox Markets 13 Apr 2023.
Link: https://www.voxmarkets.co.uk/articles/kira-mozaria-of-cadence-minerals-evergreen-had-a-very-successful-ipo-and-we-are-the-largest-sharehodler-b5b431f1
Read the article as well about Brynoe Lithium next to Core's Finniss and Kenny near Bald Hill. Kenny is a new name just like Brynoe [Evergreen] was called Litchfield under KDNC.
---------KIRAN MOZARIA , CEO of KDNC at the Interview.-----31 July 2023.
Have a look at the video posted on Cadence Minerals Twitter.
https://twitter.com/StockBoxMedia/status/1686005183124221953
I will wait to see the DRILLING of Evergreen on the ASX, a investee co of Cadence Minerals [spun out by Cadence].
That is going to be really interesting since I have waited for so long given the lithium project next to Core Lithium's Finnis project, Northern Territory, Australia was once in the Cadence Minerals portfolio.
Link to Cadence Minerals website stating:
"EVERGREEN LITHIUM:
Initial geochem soil sampling has CONFIRMED S T R I K E EXTENSIONS from Evergreen's neighbour Core Lithium producing Finniss Project. STRONG LITHIUM GEOCHEM A N O M A L I E S along the boundary of Core Finniss project and EVERGREEN'S BYNOE Lithium project."
"Evergreen's objective is to achieve exploration success with the goal of IDENTIFYING a WORLD CLASS DISCOVERY
utilising the latest in exploration techniques.."
"Cadence owns 8.74% of Evergreen Lithium dated 11/4/23"
https://www.cadenceminerals.com/projects/It-Is/
==CADENCE MINERALS PLC A G M , 16 Aug 2023 in London [offices of their solicitor in EC]==
Kiran Mozario's interview last night on Stockbox, 31.7.23 was one of the most comprehensive on KDNC.
Here is the list of the Cadence Minerals projects and investee co's:
European Metals
Hastings on the ASX
EVERGREEN on the ASX
Sonora [lithium, Mexico] - 30% JV
Others which are not significant stakes.
---
AMAPA - $900m+ NPV. [Iron Ore in Brazil].
Mr Mozario, CEO of KDNC stated at current prices, the above , if sold , came to about £9.9m for the publicly listed cos.
---EVERGREEN [Lithium exploration, Northern Territory]---
This was spun out by KDNC on to the Australian Stock Exchange and the 3 early stage lithium co's were owned by both KDNC and a private co. This was the one that I was very interested in at the time when it was under KDNC ownership [part]. What Mr Mozario stated in his Stockbox interview was quite stunning, to me , at least.
Evergreen recently went to A$60m for their mkt cap but has falled back a bit to A$53 million without 1 single drill.
So, it is doing well on the ASX. The licence of interest to Australians is the one next to CORE LITHIUM'S FINNIS lithium project. Once on the ASX, Evergreen commissioned ANT surveys similar to what Core used. Once the drilling starts as and when, that will be most interesting.
AMAPA
Quite a lot of info was given as to the operational. So, there is a data room open and KDNC and their partners are looking for JV, trade sale etc.
SONORA
Nothing much was said and that is awaiting further news as and when.
Mr Mozario said that they might list Amapa on the ASX.
Conclusion: Mr Mozario said the market is not factoring in Amapa. So, the mkt cap of KDNC is £15m @8.38p, Tues , 1 Aug 2023. Interesting that Evergreen with 3 exploration licences and NO drilling has a market cap of A$53m =£27.46m on the ASX Australia.
"Meanwhile a REPORT published on 12 Sep by Mexican outlet N+ accused Bacanora of providing incomplete
, contradictory, and misleading information to INVESTORS & the Mexican govt regarding the co's ACQUISITION
of the SONORA concessions, Their report says that O N E OF THE CONCESSIONS Bacanora claims to have covers 8 7 %
of the LAND that ORIGINALLY COMPRISED the project , but is NOT ACTUALLY PRESENTLY A S S I G N E D to the co."
["The Sonora lithium project comprises 10 CONCESSIONS."
https://dilogochino.net/en/extractive-industries/58718-mexico-lithium-bacanora-sonora-mirage-in-the-desert/
In the above article the word "report" is underlined which means if one CLICKS the link, it will go to the original report and a video. But I can understand the Spanish article.
As far as the above, are they talking of REM Mexico's CONCESSION of the 30% JV?
Cadence Minerals @SONORA , Mexico
30% JV with Gangfeng.
https://www.cadenceminerals.com/projects/sonora-lithium-project/
Cadence owns 30% of El Sauz & Fleur 1 ---as mentioned by Forbes Mexico this year 2023.
Not sure what is happening there as it is in Spanish and no translation available.
Bacanora & Ganfeng have a new name.
See my post a few days ago at LSE REM.
Mexican President is "negotiating" with a private sector co to recover a lithium concession awarded in SONORA state before nationalisation in 2022.
There is a co that had some EXPLORATION work in a very small limited area, so we are trying to reach an agreement with them to avoid "starting a LEGAL PROCESS ---AN A G R EEMENT, A CONCILIATION, Amlo said in his morning conference."
A state lithium co has been formed ie LitoMx.
Two weeks ago, Amlo: "redefine the terms under which lithium concessions were granted before nationalisation was agreed, with a view of PAYING the way to carry out EXPLORATION of the metal in SONORA. He said there were only ONE OR TWO CO'S IN THAT SITUATION."
Error in my last post header: Should read: Bacanora [NOW taken over].
"Trident Royalties says S O N O R A legal case going back to Court after Appeal."-Proactive Investors, 28 Apr 2023.
The legal case is between Bacanora vs Trident and the estate of Ewing.
KDNC 's has 30 % in the Sonora greater JV with Ganfeng who took over Bacanora. To read, call up the title.
"Local authorities have cleared all paperwork, meaning Tesla will likely COMMENCE construction of Gigafactory Mexico very soon." Article is from Inside EV's.
-------------------LATEST ARTICLE ABOUT TESLA IN MEXICO.---------------------
"TESLA plant in Mexico later and LARGER than expected."--Electriv.com, 29 June 2023.
"Tesla is reportedly planning to start up its new FACTORY in MEXICO IN THE 1ST QTR OF 2025, later and LARGER than previously announed."
"Mexican President Obrador announced ...Tesla will OPEN a large PLANT in Northern Mexico, marking an investment that could be worth UP TO $ 10 B I L L I O N for the region."
"The President could not turn this down. It would have a very big political cost for him."
My Comment:
This is the guy that did the nationalisation stuff.
My word!!! To read, call up the title.
"T E S L A eyes Mexico expansion, earmarking a new EXPORT HUB near S O N O R A LITHIUM DEPOSIT."--Proactive Investors, 1 Feb 2023
"Earmarked US$1bn for a NEW GIGAFACTORY in Northern Mexico.
EXPANDING INTO MEXICO would also place T E S L A 's PRODUCTION within the S A M E B OR D E RS as the
W O R L D 'S LARGEST LITHIUM deposits, vital for EV batteries, in the North West of the country at S O N O R A ."
My comment: Remember what the REM'er said about it is EASY to the USA and to Tesla.
Now , Tesla is COMING TO NORTH MEXICO, B OR D E R to S O N OR A.
Well, that the D A V I D L E N I G A S , Chairman of Rem plc who signed TESLA up for the SONORA LITHIUM is it not.
In more recent times, DL tweeted that it was the board of BCN that said NO, THEY DONT WANT TESLA.
Wake everyone up, Barksy1, spread the word to the REM'ers.
Https://tridentroyalties.com/investors/rns-announcements "Trident Royalties plc, 24 Oct 2022: Portfolio Update: SONORA Lithium Royalties." RNS.
"Sonara is a GLOBALLY significant lithium asset which is anticipated to become the NEXT North American lithium mine to enter production."
"..royalty REVENUE to Trident Royalties at STAGE 1 would be APPROX £ 2 4 M I L L I O N A YEAR.
INCREASING to £ 6 0 Million a year STAGE 2."
"27.1.22 ..Trident acquired ------a 3% GROSS REVENUE ROYALTY [1.5% ATTRIBUTABLE TO TRIDENT] over the SONORA LITHIUM PROJECT."
----
Comment: I went over to KDNC main forum and looked up the RNS for 24 Oct 2022 BUT NO RNS relating to this ROYALTY!!!? HAVE YOU ANY IDEA, FOLKS HOW MUCH THE GROSS R E V E N U E IS FROM STAGE 1 AND EVEN MORE AT STAGE 2 given Trident owns a teeni weeny royalty only??
REM'ERS WOULD ------------HAVE HIT A GOLD RUSH-----SO WAS DL....., NO!!!------
BARKSY1--TELL EVERYONE PLEASE and print the Trident RNS out for all to see in black and white....
Well Gauteng got themselves a bargain for £260 million for Sonora.
As for cadence were be lucky if we get 30 or 60 million, for hour 30%.
Even that's day like roddery.
Mexico 's DEBT was US$820 bn in Apr 2023 vs US$812 bn in the previous month.
Ah, that is why Sonora is of interest to Mexico, no?
Link: https://www.mining.com/web/mexico-values-its-sonora-lithium-deposits-at=600bn/ 22.9.22 Mining.com
"A potentially VAST LITHIUM DEPOSIT in Mexico northern SONORA state could be worth as much as $600bn according to a RECENT FINANCE MINISTRY REPORT."
My comment: Despite all the ...of the past, now the figure on Sonora by the Mexicans themselves via their Finance Ministry is $ 6 0 0 B I L L I O N. Congratulations REM MEXICO LTD which holds the 30% JV in Sonora under the Chairman David Lenigas. Any wonder why these days, DL is cited as advising family offices from the Linkedin last I chec?
REM plc on London South East still exists.
SONORA LITHIUM.
Edison did a report on KDNC ie note. Link: https://www.edisongroup.com/research/a-mispriced-miner-32481/ 6 July 2023 SONORA LITHIUM /KDNC was in the Edison notes with valuation scenarios etc.
Going to get interesting. Sat, 15 July 2023.
Today, is Sat, 15 July 2023, I say to myself, aaaaaaaah, if only.
If only KDNC kept Lithfield, contigious to Core Lithium, the ASX neighbour.
That was my great hope and I chased it to CCZ which farmed into Litchfield, Northern Territory for lithium in Australia.
CCZ paid the deposit and rejected Lichfield.
Then, KDNC got it listed on ASX but now has only some 8% or so in Evergreen , ASX, Australia with some mkt cap of A60.6m. Evergreen has been only recently listed and from late Apr to recent days, the market CAP CLIMBED FOR LISTING A$10m to A$60.6million x 6.6 times.
Today, on KDNC main forum, everyone is talking of Evergreen.
Oh, if only KDNC kept it over Amapa.
Sonora : It was hard to get funding in Canada, so step in DL of REM plc.
Then, Bacanora Lithium decide to list [dual] in London so that they can raise their own money.
I dont know the back story but his Lordship & DL but I gather DL would run it etc.
DL got the TESLA agreement and per Seeking Alpha, that would have naturally as norm OPEN doors to $$$ funding.
DL said later via tweet I recall, they didnt want it ie Tesla deal.
CONSTANT DL THIS AND THAT STARTED OVER AT BACANORA [history now as it is no longer listed]:
Go to the forum and no end of anti-DL which resulted in NO selling of Bacanora to REM plc.
Yes, REM plc did want to make a bid for Bacanora but the board pipped it and revealed it first saying it does not value the Sonora/BCN enough? At £1.
LORDSHIP DIES AND BCN RUN BY MGM.
Still the same and finally they sell out to GAN. That DL did say about t/o in general about lithium and the price he gave was of a historical actual sale of another project.
GAN never offered £1.
KIRAN MOZARIA INTERVIEW WITH ALAN GREEN [KDNC] JUNE 2023.
---From Kiran's own mouth: SONORA WOULD HAVE BEEN IN RRODUCTION BY NOW.
Yes, but the constant ...meant that shareholders on the forum of BCN [no longer llisted SO HISTORY NOW ie stories]
didnt want a REM takeover.
Yes, X is so good etc vs DL....
HISTORY NOW: MEXICO HAS NOW PUT A MORTARIUM ON LITHIUM ASSETS.
WHEN, WHO KNOWS?
THAT IS THE STORY OF SONORA -LARGEST CLAY LITHIUM DEPOSIT.!!
Beginning and end of story -FACTUAL, please correct if wrong, old timers from REM plc eg Barksy1 etc from old and Obs etc from those days.
DL
From all the fall-out, I read something on the main KDNC threads.
So, no more DL: NOW ENTER THE EVERGREEN which in 2 months 1 week saw the SP jump 660% or 6.6x, without
any drilling even. Just put in a NEW NAME for Litchfield and presto.
REM plc at 2.25p [HIGH] was only about £100m mkt cap or a bit less.
Look at Evergreen on ASX, Oz, it went from A$10m to A$60.6 Million and newly listed Apr 23, 2023 to 6 July 2023 [Fri] and share price jumped and went crazy.
Look at GREENTECH -another DL spinout from Artemis where DL was Chairman.
That is also just spun out of Artemis or rather sold and they took some shares.
That also went from nowhere to A$41.5 Million.
Before anyone says tis or that, NO I missed all the ones that were not as spectacular.
Why? Just look at the project, not the man.
Every project has to be evaluated.
No, my broker doesnt offer Australian shares because the CEO asked staff to tell me they cant man the Oz desk into the night.
news 8 July 2023.
Now, we have heard from the horses mouth and Edison's new note says Sonora is close to the US border which REM did say or old timers then.
-----------------All history.-----------
KDNC owned LITCHFIELD, in the Northern Territory, NEXT TO CORE LITHIUM, MKT CAP A$.72 BILLION.
Then, CCZ farmed into Litchfield & 2 other licences and paid a deposit.
Almost overnight, CCZ did not want to complete the deal.
KDNC did not own Litchfield outright but could buy more from a private co in Oz.
EVERGREEN LITHIUM ---LISTS ON ASX, AUSTRALIA.
on 23 Apr 2023 -M K T C A P :A$ 1 0 million.
New Australian CEO and Head of Exploration: Jason Ward, formerly of Solgold.
--THEY HAVE DONE ANT SURVEY just like Core used to test for under surface lithium.---
MKT GOING CRAZY AND ON FRI, 6 JULY 2023, M K T C AP :A$60.66 Million [ SHARE PRICE J U M P E D 6.6x or 660% in 2 months & 1 wk].
-------------------SAME PROJECT AT LITCHFIELD-------MKT GOING CRAZY, JUST BECAUSE NEXT TO CORE LITHIUM'S FINNIS, Northern Territory, Oz.-------------------
At a mkt cap of A$60.66million, NO LONGER A SHELL LIKE MKT CAP OF SAY A$8-10M anymore , WITHOUT ANYTHING DRILLED YET.!!!
-----------------AFTER MY YELLING ENTHUSIASTICALLY ABOUT LITCHFIELD, KIRAN MOZARIA SAID IN 1 INTERVIEW: WE DONT MAKE MUCH OF OUR AUSTRALIAN ASSETS [lithium].--------
In NT, Oz, it is near the port so easy to ship etc.
CORE LITHIUM is looking for MORE LITHIUM in the area!!!!
https://hotcopper.com.au/asx/eg1/
https://hotcopper.com.au/asx/cxo/
-----------
[2]GREENTECH LITHIUM, ASX.
[2] GREENTECH LITHIUM on ASX
Belonged to Artemis Res. ie the lithium project. They got it RECENTLY LISTED on ASX under the ticker GRE.
Sold it on and took some shares, like KDNC did with Evergreen above.
RUTH WELL-its near Artemis Res. project in Western Australia.
GREEN TECH PICKED SOME ROCK SAMPLES AND THE MKT GOES CRAZY and the MKT CAP GOES TO A$41.5 MILLION.
AGAIN, NEWLY LISTED AND NO LONGER A SHELL LIKE MKT CAP OVERNIGHT ALMOST. Please check their chart.
D.L was Chairman of Artemis in the past.
Comment:
At Litchfield, or lithium projects, one can see outcrops but now with ANT survey, it can scan to 500m.
A/c to Evergreen, that is how Core found their lithium.
SO, LITHIUM PROJECTS ARE GOING LIKE CRAZY IE MKT CAPS.
Here, KDNC cant go beyond £12m with so many projects.
NOW, KIRAN MOZARIA'S OUTLOOK PER LATEST INTERVIEW WITH ALAN GREEN RECENTLY, TOWARDS THE END SAID, LOOKING OR INTERESTED IN LITHIUM in Europe.
Its got to be OZ-no one seems interested in lithium in Europe?
news. 8.7.23. Last night, I went to Evergreen's site to look at the magnetics etc. Interesting.