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Hello @news (and @Dallas) I think you are misunderstanding the history of Sonora which @Dallas is kindly trying to explain to you. BCN funded the drilling of their 100% area La Ventana before REM was on the scene. Then REM came along and funded the drilling on the JV areas for which we could then get 30% ownership of the JV (actually up to 49% but we declined). Is this what you are trying to explain @Dallas? Please forgive me if not!
PS.
When one talks of SONORA, it depends on what one means by Sonora.
I leave it there.
Dallasdaz
I never went to REM AGM*s nor KDNC AGM*s so I only take what is on Twitter as from DL and the RNS*s from REM plc.
A whole bunch of us ie Pensionpot, Isdeer and one more chap that has now deleted his account were there RIGHT FROM THE BEGINNING, me at the TIME OF THE 1ST FUNDING of REM for Sonora.
So, if history is going to be changed by your good selves that REM plc did NOT finance the Sonora drilling and that NO, Money Week is WRONG as well and MIDAS DAILY MAIL ONLINE in their 2014 tip on REM plc, that*s fine.
However, we are NO LONGER children. I watiched some kids years ago and one say, No its not and another Yes, it is.
So, if you dont mind, I will take my leave and if you wish to SAY ITS WRONG, I did say take it to MONEY WEEK as I have provided the evidence.
Otherwise, what would PENSION POT, ISDEER and myself etc be wanting to invest in REM plc for except pension pot and I were for SONORA and Isdeer for Greenland.
If you can show evidence of LONDON SOUTH EAST POSTING AT THAT VERY DATE and you say its not, then fine.
So, lets just leave it at that and END as I cant spend my days going to and fro.
ITS HISTORY NOW AND THAT IS WHAT IS COMMON KNOWLEDGE?
It is with regret that I will NO LONGER want to post on KDNC.PL OR REM as there is too much disputing FACTS-LIFE IS FOR LIVING AND PEACE WITH ALL with GOODWILL.
I hope that clarifies everything now. With the greatest of respect.
With thanks.
News, Thur, 25 Mar 2021.
All this came up as news about lithium is now in the news in general and SONORA in particular with the Mexican govt interested as said in the Reuters article today. THIS IS POSITIVE GOING FORWARD AS SONORA IS IN THE NEWS.
DYOR. Caveat: It appears. Do due diligence.
Moneyweek refers to us having a 10% equity in La Ventana...we did, but it wasn't in return for us financing the drilling. It was because REM were buying BCN shares on the TSX-V exchange.
I still have BCN's MDA from 2013, BCN were drilling La Ventana in 2010. Pages 3 and 4 show how REM were to earn into the El Sauz and Fleur concessions....
https://drive.google.com/file/d/1Lc0caHeVyx48IFzquE2ZjevxhCTGWs_K/view?usp=sharing
And that's from the horses mouth so to speak
Hello @news. Trust me, @Dallas is one of the good guys who is only trying to help out with everybody's understanding of the history of REM and KDNC. I'm certain he means well. He's got a very good memory, and has helped me on many an occasion!
Interestingly the AIM admission document I shared with you states how much money we had to spend to acquire the JV's.
Page 242 onwards:
https://www.bacanoralithium.com/pdfs/Companys-AIM-admission-document.pdf
Dallasdaz,
Ref: "Is this the most exciting mine project I*ve ever seen."-MONEY WEEK, 21 May 2014
Link: https://moneyweek.com/322173/right-side-exciting-lithium-mining-project
Quote:
"..with high tech industries driving HUGE DEMAND for LITHIUM, this miner has MIND BOGGLING potential. HITTING THE MOTHERLODE...David Lenigas...
now definately on the up. That*s because its heavily involved in what many INDUSTRY INSIDERS suggest could be the BIGGEST LITHIUM FIND IN THE WORLD. The only thing is not many people are aware of it.
The lithium deposits in Sonora owned BY REM PLC THROUGH ITS JV partner Bacanora, a stocked listed in Canada.
But REM has BIG STAKES in the AREAS WHERE LITHIUM DEPOSITS have been identified.
BASICALLY REM FUNDED DRILLING IN RETURN FOR AN EQUITY STAKE AND BOY OH BOY
THOSE DRILL RESULTS CAME IN GOOD."
QUOTED VERBATIM FROM MONEY WEEK WHICH EVERYONE AT THE TIME READ as this publication plus Midas tipped it, the latter also in 2014 [posted links before].
Money Week ended the article with: "Whatever happens, you can expect to hear much more about REM and Bacanora here at the Right Side over the coming months."
--------
SO, DALLASDAZ, I PROVIDE YOU THE DEFINITIVE EVIDENCE THAT WHAT I SAID IS COMMON KNOWLEDGE WHICH MONEY WEEK , A BIG PUBLICATION STATED VERBATIM:
"BASICALLY, REM FINANCED DRILLING IN R E T U R N FOR AN E Q U I T Y STAKE and boy oh boy those drilling results came in good."
SO, IN RETURN FOR AN EQUITY STAKE WILL BE EVIDENCED VIA A LEGAL AGREEMENT OTHERWISE HOW DID REM ACQUIRE THIS EQUITY STAKE.
EVERY REM*er is aware as they followed the REM RNS*S INCLUDING ME, AN EARLY REM*er.
--
REF: "TOP TEN BIGGEST LITHIUM MINES BASED ON RESERVES."- 30 Aug 2019, Mining Technology.
Link: https://www.mining-technology.com/features/top-ten-biggest-lithium-mines/
"NO 1 IS SONORA LITHIUM, MEXICO."
"NO 2 WORLD*S BIGGEST IS THACKER PASS, NEVADA."
[From the link as above and covered by many publications, not only Mining Technology]
So, it has come to pass what MONEY WEEK SAID ABOUT not many people knew about Sonora in 2014.
If you are still NOT HAPPY DALLASDAZ and said its not, kindly take it further with Money Week etc who stated it.
With thanks. With the greatest of respect,
NEWS, THUR, 25 MAR 2021.
ALL FACTS. DYOR.
I'm aware of the background and that JV1 has nothing to do with La Ventana...
But your quote "Mr Lenigas, former Chairman of REM plc who financed the Sonora lithium drilling otherwise Sonora lithium would not exist today" is incorrect, 88% of the Sonora lithium project comes from La Ventana (current mine plan) which was drilled and had a NPV before REM were involved.
DS also stated at an AGM that we couldn't afford to buy into La Ventana due to their $US800 million NPV.
Now that SONORA is hitting the news via Reuters, Mining .com etc, out come this latest article from MEXICO itself [not in English] that SONORA LITHIUM IS NOW REVEALED NOT TO BE GOING TO ASIA-CHINA as per the original BCN presentation [Obs gave me the link] but to TESLA-USA!!!??
BACK TO SQUARE 1- REM PLC GOT THE TESLA CONTRACT- MR LENIGAS POSTED THE PIC OF HIM VISITING TESLA -USA AND THEREAFTER GETTING THE TESLA AGREEMENT FOR SONORA LITHIUM.
That*s history in the making.
I wonder now what the Head of the Mexican govt and the Mexican press make of this LATEST REVELATION THAT THE SONORA LTIHIUM IS GOING TO TESLA - U S A and not to China-Asia?
Well...got to wait and see what the Mexican govt makes of this news?
Thur, 25 Mar 2021. DYOR. Kindly check. Do due dilgence.
REM plc has NOTHING to do with VENTANA. That is and was EVER belonging to BCN as far as history goes? Hence, why REM plc has no meaningful share in Ventana, Sonora of which it is now subject to Bacanora-Ganfeng as reported in the press. REM plc has the 30% share in the JV LANDS AT SONORA ie El Sauz 1, El Sauz and Fleur.
REM RNS, 13 Mar 2014:
"Final results for the year ended 31 Dec 2013:
Chairman*s statement: Dear Shareholders:
Over the past 12 months, we have published more than 20 updates or drilling reports on OUR MEXICAN PROJECT. We now look forward in 2014 to the Sonora Lithium project of which Fleur and El Sauz concession comprise the BULK of the identified LITHIUM RESOURCES, GAINING INTERNATIONAL RECOGNITION as a potential, meaningful SUPPLIER TO THE WORLD LITHIUM MKT. .The board believes unequivocally that this PROJECT IS OF EXCEPTIONAL QUALITY."
" To reflect the potential of the SONORA LITHIUM PROJECT, REM intends to continue with its stated strategy of increasing its HOLDING IN BACANORA AND THE PROJECT ITSELF." [David Lenigas, Chairman of REM plc - Letter to shareholders.]
------bo
I was present shortly after REM plc was renamed and the 1st project that REM plc took on was SONORA Lithium project. ALL THE REM PLC RNS*S REFER.
Otherwise, how could Lord Colin Orr Ewing [RIP] have got involved with REM plc when Bacanora was solely Canadian listing. What was the connection wherein Bacanora became JV partners with REM plc? Surely, to give 30% of the GREATER SONORA JV LANDS OF WHICH THE BULK OF THE LITHIUM DEPOSIT [250 years mine life potentially] LIE IS ONE PRIZE?
Thur, 25 Mar 2021.
Evening All
News especially !!, Observer , Barksy , Zoom thanks for latest information.
Now its getting interesting.
News and deals on several fronts imminent . Very very interesting for us all
Would like Ivybush's view on it all.
Stay safe and thanks for your input
Rich
I'm pretty sure BCN had already drilled and released their PEA for La Ventana ($US 848 million) in January 2013.....prior to REM's involvement!
REM entered a farm-in agreement with BCN in February 2013 (JV1) with formal agreements executed in May 2013 allowing REM to participate in the drilling of the El Sauz and Fleur concessions.
Mr Lenigas, former Chairman of REM plc who financed the Sonora lithium drilling otherwise Sonora lithium would not exist today has replied to the news report just out from Mexico today that Ganfeng-Bacanora is going to sell the lithium [originally destined for Asia] to TESLA in the USA.
Mr Lenigas got the TESLA CONTRACT for SONORA LITHIUM UNDER REM PLC.
Mr Lenigas reply to the new article directed to him:
"I had them with a deal with TESLA and current board killed it. Funny how they want back in. Great anyways. Great for #KDNC." This response was also sent by Mr Lenigas to CADENCE MINERALS PLC ON TWITTER @CadenceMinerals.
Mr Lenigas *s tweet was also marked #kdnc, so it has gone also to the Twitter #kdnc thread for all to view and NOW ALL OF US REMERS NOW KNOW ABOUT THE REM-TESLA CONTRACT AGREEMENT that Mr Lenigas obtained under REM plc. No one knew what happened, now we know and have got the ANSWER.
https://twitter.com/DavidLenigas/status/1375127025653059588
Reply at 4:46pm, Thur, 25 Mar 2021
SO, $36,000 QUESTION:
Is this the same Tesla REM deal - agreement done by David Lenigas under REM plc?
One for the future to ask? Now that the news is out from Mexico, let*s see what transpires as to how from Asia it is now going to the USA -to Telsa, as it once was destined for under REM, DL who got the agreement?
All puzzling? Need to find out at some time.
Thur, 25 Mar 2021.
Looks like with all the hoo haa over Sonora Lithium in the news, there*s NOW A NEW REVELATION THAT SONORA LITHIUM IS GOING TO THE USA ----TO TESLA as below, news just out.
Thur, 25 Mar 2021. DYOR. Check on Twitter.
I have just read the article just out:
"Ganfeng Lithium is a partner of TESLA. ..the Asian co intends to TRANSPORT TO THE US, THE LITHIUM that Bacanora will extract from Mexican soil a of 2023.
FOR THE 2ND STAGE OF THE SONORA LITHIUM PROJECT THAT WILL BEGIN IN 2024, in which production will be increased to 35,000, Bacanora has signed with Ganfeng that the latter can increase its purchase to 75% of the total lithium produced at a price set by the market."
"1st production 17,500 tons at end of 2023."
My comment:
From the BCN presentation that Observer842 gave me a link to, it said that BCN*s lithium is bound for Asia, NOT US. So, this is a NEW DEVELOPMENT.
2nd - THE 2ND STAGE 35,000 TONNES INCREASED PRODUCTION was NOT CONFIRMED ANY where as far as I know. It was just a proposal but nothing firm but this appears to have a date ie 2024 FOR THE 2ND STAGE.
As I discussed earlier in this forum about the train merger between US, MEXICO AND CANADA, it would now appear that Ganfeng*s lithium from BCN is now DESTINED TO GO TO TESLA!!!??/
REM - MR DAVID LENIGAS, CHAIRMAN OF REM PLC GOT THE TESLA CONTRACT FOR SONORA LITHIUM and he posted a picture of himself at the TESLA FACTORY.
Wow- what a NEW DEVELOPMENT TODAY in the news, fresh from Mexico?
Thur, 25 Mar 2021.
A new article is just out in the Mexican language:
The English translation:
"Bacanora Lithium, the English mining company that owns THE MOST IMPORTANT LITHIUM DEPOSIT IN MEXICO, which has not entered into production yet, wants to be a supplier to Tesla."
Its on Twitter now.
LoL: REM GOT THE CONTRACT WITH TESLA FOR SONORA. I have not read the article yet as a link is provided but it would appear that it is in Mexican?
Thur, 25.3.21.
P.S. Mining.com is also covering the Reuters article, ALL out today.
NEWS JUST OUT:
"Mexico eyes bigger role in lithium industry, sees SPECULATION in mining concessions."- Reuters, 19 hrs ago, Thur, 25 Mar 2021.
"Too many mining concessions had been handed out before he took power at the END OF 2018.
"Asked about his views about mining co*s selling stakes in lithium projects in Mexico even as his govt PUT A STOP TO NEW CONCESSIONS."
"The question made particular note of an announcement in Nov that the Chinese co, Gangfeng would INCREASE its stake in BACANORA MINERALS S O N O R A project in Mexico FROM 22.5% to 50%."
"We are analyzing the possibility of having a BIGGER PARTICIPATION IN THE EXPLOITATION OF LITHIUM, Lopez told reporters, noting too many mining concession had been handed out before he took power at the end of 2018."
"Bolivia*s Arce said his govt was restrting talks with Germany over developing the LITHIUM industry and noted it could be useful to explore working with OTHER countries as well. Bolivia*s Arce said the OUSTING of his former ally, Eva Morales was to GAIN CONTROL OF BOLIVIAN LITHIUM RESERVES."
----------
My comment:
I did say to read about Bolivia AS WELL. The Germans had an agreement with Bolivia to develop lithium etc which results in lit etc but looks like that is being resolved now.
For MEXICO, the above is a NEW DEVELOPMENT.
Given on REM - REM OWNS 30% OF SONORA MEXALIT, the greater part which gives 50 years of mine life but the other parts making a total of 250 potential mine life [250yrs minus 19 years for BCN-Ganfeng Ventana and minus 50% in the 2nd part of Sonora]. With Ganfeng owning 50% of Sonora now that is 35% 35%=70% vs REM*s 30% [kindly check all the links etc]. REM is named as the BCN JV, not Cadence Minerals as the agreement was drawn in the name of REM-BCN re: Mexalit [El Sauz, El Sauz 1 and Fleur, greater Sonora]. Ventana was owned 100% by BCN at Sonora and which forms 88% of mine feed. Now, Ganfeng owns more of Ventara -see REM .
Please check and do due diligence. Just news.
DYOR.
Thur, 25 Mar 2021.
As said SONORA IS RANKED NO 1 IN THE WORLD FOR LITHIUM [ref: Mining Tech]
Lithium has been in HIGH GLOBAL DEMAND..."
IVYBUSH
If you are still in KDNC, could you kindly look at REM? Oberver842 has replied to my post and I think we need another head to have a look?
Thanks.
Wed, 24 Mar 2021.
I will post the Bolivia info and Sonora info on REM plc to complete the REM story on Sonora. REM has been renamed KDNC.
More news out about lithium in Mexico-investors said to be chasing lithium projects.
Industry news.
23.3.21
Tues, 23 Mar 2021.
KDNC - BACANORA JV [Part 2]
I have gone to visit the BCN forum today @12:46 noon. LoL, I see names I am familiar with because one of them comes from another forum in a different commodity.
I am aware this poster*s background because he indicated this before. Mainly, someone who has been in a profession wherein, would require some definitive answers which I put out here on this forum [maybe not in the same vein but of similar pathway].
All organisations have STRATEGIES AND EXIT OUTCOMES whether they be income stream, free cash flow and flow chart etc. All this is NOT price sensitive - one needs to know the strategic plan with $$$ numbers which is not fluffy or on a fag pkt. IT MUST EVENTUATE INTO HARD $$$ FIGURES.
Like I said, LITHIUM IS HOT and everyone is looking like ...., hence they are at BCN but if no answers, I am not sure what they will do next.
One of our posters likes a CEO who is quiet but looks like there are far more commercial nuanced people on the BCN site who may not be of the same mind. Thinks the world of X but not DL who found the world*s No1 lithium deposit at Sonora [+EMH that saved this co*s life] and the other a mgr.
On the topic of Bolivia lithium, if you have read the top copy, then it will tell you how desperate the lithium chase is getting.
MONEY FROM WALL STREET WILL NOT BE FOREVER - those in early can grab the vast sums they are prepared to dole out eg Lithium Americas got $400m just like that for Thacker Pass etc. Core Lithium got $40m just like that from international institutions. Come a time, the late laggers come in and the old situ could replay.
So, no time to waste.
On another forum, bigger buyers/holders now call co*s CEO*s and speak to them via a conference call [London listed co based in Australia]. Gone are the days when its ok to keep silent - co*s now take conference calls. Yah, this is the REAL WORLD where people who work in real work environments need answers.
News, Tues, 23 Mar 2021.
So, I leave it here. I am reporting that I am pleased I am not the only one.
Thanks News for more insight into the value to REM of Sonora. I was one of the investors you mentioned who joined at the 0.9p to 1.1p level (old money) and after much research and due diligence realised that DL was right to say that the true value of Sonora to REM/KDNC lay in the JV areas rather than a direct shareholding in BCN. I’ve averaged down as a result and am now close to break even at this level. I see La Ventana as a shop window to Sonora, proving the product as well as the production costs which we now know are in the lowest quartile and highest battery grade quality. With 100% of the production already accounted for at present design capacity levels, it’s logical to assume that any new customers will require an expansion in production. That could either be in the form of a larger single production plant or possibly a second plant running on a different site on the Sonora JV land. Logistics and optimisation plans will decide how best to move forward. Further expansion plans will also be part of the decision process. With a 250yr mine life the option is there to set up a number of mined areas on Sonora to help satisfy increasing demand. The timing is spot on to catch the rising Lithium prices and tightening market supply.
SONORA NO 1 RANKED - WORLD*S LARGEST TOP 10 [Mining Technology etc]
So, HISTORY records NO 2 LARGEST LITHIUM DEPOSIT IE THACKER PASS IS 100% OWNED BY LITHIUM AMERICA*S, MKT CAP $2 BILLION +.
The other project Cauhari is now 49% owned by Lithium Americas and 51% Ganfeng.
Gan paid $16m for 1% to bring it from 50% to 51%. This is in Argentine.
SONORA
It could easily have been a $1 billion mkt cap or even if just a bit less, $700m as seen in co*s in Australia etc.
BCN *s mkt cap is £145m from the last time I checked. BCN owns 50% of SONORA now [mining part] out of 100% having sold 50% to Gan for a total of some $50m.
REM
Went from shell £1m. DL took a music co shell on AIM and financed drilling of Sonora because BCN could not raise funds in Canada at the time. REM went to £95m mkt cap at the highest intra-day of 2.25p. Most bought at 0.9p or 1p so the mkt cap is then about £47m+.
Phalen told us it was massive even before they finished drilling looking at the map. BCN*s NI43 -101 said it is 7KM of CONTINGOUS STRIKE. 250 YEARS OF MINE LIFE FOR THE WHOLE OF SONORA.
Folks said X and Y ----REM MKT CAP ££47M @0.9P OR 1P [OLD MONEY]
owns 30% of THE GREATER PRIZE AT SONORA.
This is because BCN only owns 100% of Ventana where Gan will mine and this only forms 88% of the mine that will last 19 years.
The greater prize will LAST FOR 231 YEARS [250 YEARS MINUS 19 YEARS].
THINK ABOUT IT - REM DRILLED AND FINANCED THE WORLD*S NO 1 RANKED LITHIUM DEPOSIT.
Was it not worth £47m that folks bought it?
Lithium co*s mkt caps are going into the high MILLIONS , 3 DIGIT OR $1BN +.
I can check the top 5 when I have time for mkt caps but I do recall the Australian ones at the top of the ranks are not cheap from past checking. They are not £47m definately.
Kindly look for yourselves given I have given the names and reference to look up.
One for the history books.
Mon, 22 Mar 2021.
THACKER PASS- NO 2 RANKED AFTER SONORA NO 1.
100% owned by Lithium Americas, mkt cap $2 BILLION +.
Lithium Americas also owns Cuahari, Argentine.
Gan bought in but has bought another 1% for $16m to take them from 50% to 51%.
So, Lithium Americas has retained 100% of Thacker Pass. The Bloomberg article I gave a link to says Wall Street keen on lithium and money is available.
1 of the co*s mentioned is Lithium Americas who just raised $400m.
So, WORLD*S largest NO 2 lithium deposit has retained the PRIZE which will only last for 46 years.
WORLD*S NO 1, SONORA, DRILLING PAID FOR BY REM and funded and located by DL
- BCN owns 50% whilst 50% of Sonora [Ventana 88%] Part 1 lasting 19 years has been sold off for US$50 million approximately give and take [25% + 25%].
vs
TXXX royalty co today paid £28m or $39m USD just for the royalty element for THACKER PASS.
No details could be found by me as to the %. Usually, its about total 2-2 1/2% that is ever sold in total.
Posting for history.
Mon, 22 Mar 2021.