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Hello @news. I've now taken a read of several Mexican articles (and may I recommend using the Google Chrome web browser as it auto translates) and I am fairly confident that each of them are drawing their conclusions from the area of the annual report I highlighted, coupled with the reasoning that Ganfeng supplies Tesla, and Ganfeng have an offtake with BCN and a large interest in the Sonora project and BCN. From what I can see there is no new information that shareholders are missing, in particular there are no official hopes or plans for BCN to supply Tesla, just potential opportunities. Even this sentence from the annual report might be referring about companies in general following the trend to localisation rather than the specifics of Tesla itself "This push for localisation provides an opportunity for Sonora Project and ZNWD to supply the key element, lithium, to their respective geographic markets.". But what can be said is that BCN are certainly playing the Tesla popularity card in an attempt to drum up support so it wouldn't surprise me if they intentionally left that sentence ambiguous - just take a look how many times Tesla are mentioned in the annual report. ;-)
I nearly didn't write the above, because I suspect you will not be happy to hear it, but I think it's important when reading the press to find the source material to help understanding what the true situation is rather than be swayed by an article's agenda. I hope you agree! Of course I'm happy for you not to agree on this or any of this post, in which case let's agree to disagree on this one? :-)
Now back to ship spotting for me. Have a good day!
Ob.
@observer842
Sorry, that is not the article that I was referring to ie the specific one.
Its on Twitter under the #kdnc thread.
https://twitter.com/HorsePowerMX/status/1375144018355617795 dated 25 Mar 2021 [Tweet with link to the article]
Quote:
"A/c to Bacanora*s plans, Mexico lithium is destined FOR TESLA*S EV PLANT IN NEVADA, USA, just 400 miles from SONORA where the deposit is located. TRANSPORT TO THE US.
Secker, CEO, BCN: TESLA*S PLANS ...OPPORTUNITY TO SUPPLY KEY ELEMENT." [In English]
--
HorsePower:
Sergio Omelas Sr: Linkedin: Established more than 100 industrial projects in Mexico.
------
There are many other such info from Mexico on this and "everyone" is talking about this. In fact, that is how the Head of State of Bolivia has gone to Mexico to inform on their lithium etc and what is happening there.
I cannot provide all these other links as it may be too ? ...especially it is mentioning X co etc.
So, up to each one to research themselves. Suffice to say, there are now 2 articles given. I have not yet looked for more as its all in their language and it takes loads of time to read.
After telling DL, he replied. The above article has also been sent to him and KDNC.
Whether it will be RNS*ed or not, I do not know but REM RNS*ed the Tesla deal, hence why even Nasdaq picked up on it as Tesla is listed in the USA.
As I said everyone that is anyone knows in Mexico, hence this BIG FURORE with the HEAD OF STATE NOW SAYING LICENCES ARE FOR SPECULATION PER REUTERS and BCN*s JV was mentioned by press [Mexican] that the % went up from 22.5% to 50% and SONORA is the subject of all this ho ha. Check its all in the news.
Barksy1 - I told Barksy1 to check my feed [not the main one].
Sat, 27 Mar 2021.
Meanwhile, CORE LITHIUM-FINNIS Lithium, Northern Territories has MORE NEWS OUT, 22 hrs ago. That is near KDNC*s LITCHFIELD.
Hello @news. I thought I'd try to find the source of the excitement by the Mexican press. My belief is that:
"UK firm hopes to sell Mexico mined lithium to Tesla" (March 25, 2021)
https://www.jornada.com.mx/2021/03/25/economia/020n2eco
===[
"Tesla plans to make its own batteries, which will further strengthen the supply chain, as well as the range and power of its electric vehicles. This drive, due to the location (proximity to the Bacanora deposit) provides an opportunity for the Sonora Lithium Project to supply the key element" , Peter Secker, Bacanora CEO, told investors in a report.
]===
is from this line in the annual report:
"Annual Report and Financial Statements 31 December 2020" (08 March 2021)
https://polaris.brighterir.com/public/bacanora_lithium/news/rns/story/xq68gqr
===[
Furthermore, Tesla plans to manufacture its own "tabless" (Tesla is removing the tab that connects the cell to the item it is powering) batteries in-house, which will further strengthen the company's supply chain as well as the vehicles' range and power55. This push for localisation provides an opportunity for Sonora Project and ZNWD to supply the key element, lithium, to their respective geographic markets.
]===
I remember reading that at the time and believing it was just that "an opportunity", which every local Lithium company has, but opportunities don't make for good headlines, so it becomes a "hope" then a "plan", then a "certainty". LoL. ;-)
It's certainly worth keeping an eye out for a concrete Sonora Tesla connection though, even if it is via Ganfeng! My understanding is that they received a fair amount of Sonora samples whilst the REM deal was still on, so they should have first hand knowledge of the suitability of what we've got! :-)))
Ob.
P.S.
The NEWS yesterday that BCN-GAN is now going to supply TESLA-USA [NEVADA] and transporting it there to the USA from Sonora was even NEWS to David Lenigas.
No one was told this at BCN via RNS either. No one at KDNC knew this either. Everyone thought it was going to Asia, China but NO, ITS going to TESLA -NEVADA-USA -------JUST LIKE IN 2015 WHICH DL DID.
Ref: "Unravelling TESLA."-Investorintel
https://investorintel.com/sector/technology-metals/technology-metals-intel/unravelling-tesla?print=pdf
"Some have speculated that Tesla will consume as much as 80% of Bacanora output...
THE JV PARTNERS THROUGH D R I L L I N G and exploration work to date established a NI43-101 ....metrics from PEA is below and the CAPEX TRULY IMPRESSIVE...
BAGGING THE TESLA DEAL IS OBVIOUSLY A GOOD FIRST STEP .
NOW WE NEED TO SEE IF FINANCIERS ARE AS IMPRESSED WITH TESLA AS C O U N T E R PARTY.
BACANORA COULD GET A FINANCING DONE WHILE THE G O I N G IS GOOD and if Tesla ultimately does NOT turn out to have any relevant to Bacanora* future, it will have been a case of its been NICE KNOWING YOU & GOODBYE."
Investorintel also talked of the share pop FROM £1.30 TO £2 before easing back for BCN.
My Comment:
I provide backup for what I said about REM ...JV PARTNERS ..DRILLING AND EXPLORATION..
2ndly: Below I said that the JV COULD HAVE GONE ON TO GET FINANCING ON THAT LANDMARK TESLA DEAL.
So, instead, it was K*ed off per DL yesterday, 25.3.21 which ended REM - sp in its tracks etc.
NOTHING WAS WRONG WIT THE TESLA AND TESLA WAS AN OPEN WINDOW AS INVESTORINTEL SAID TO MOVE ON to the next step.
History but nevertheless important as to what happened.
Fri, 26.3.21
@observer842
Answer:
"TESLA ENTERS LITHIUM SUPPLY DEAL WITH BACANORA MINERALS & RARE EARTH MINERALS."-Nasdaq, 28 Aug 2015
https://www.nasdaq.com/articles/tesla-tsla-enters-lithium-supply-deal-with-bacanora-minerals-and-rare-earth-minerals-2015-08-28
" Bacanora and investment co, Rare Earth Minerals..secured a condition long term lithium hydroxide supply agreement.
Bacanora Minerals & REM have COVETED RIGHTS TO LAND IN NORTHERN MEXICO, where lithium is found in mineral rich clay.
..David Lenigas said that the selection of the Sonora Lithium Project as one of the lithium suppliers to TESLA GIGAFACTORY is a L A N D M A R K deal. This key supply agreement with Tesla will hopefully be the FIRST of a no of potential lithium off-take partners for the Sonora Lithium project as we MOVE TOWARDS THE NEXT STAGES OF DEVELOPMENT."
"WITH TESLA*S GIGAFACTORY UNDER CONSTRUCTION NEAR RENO [its $5b battery factory]
N E V A D A, this deal gives the car maker an important base ingredient used ...."
----------
My Comment:
Most people then would not have seen the above from Nasdaq - there is NO CEO of Bacanora Lithium comment etc as it was DL who got the contract and hence REM is named also.
The above from Sonora was GOING TO TESLA GIGAFACTORY NEVADA.
Yesterday*s article gives the same specifications ie SONORA LITHIUM GOING TO TESLA, NEVADA AND TRANSPORTED THERE. I cant give the link as its in Mexican but it is on Twitter #kdnc thread. If you can do the link, then post by all means.
See, NEXT STAGE OF DEVELOPMENT - so next stage would have meant off-take financing etc.
See, LANDMARK.
See "C O V E T E D RIGHTS TO L A N D"- that was what I was conveying.
2 ARTICLES , ONE 2015 AS ABOVE AND ONE FROM YESTERDAY, HOT OFF THE PRESS.
However, the latter article now only takes comment from CEO, Bacanora and cuts out REM.
See, mystery solved? DL DEAL TESLA -NO. NOW-YES. SAME THING AS BELOW AS ITS GOING TO TESLA, USA NEVADA.
Yah, Observer842, you read correctly as DL could not have meant any other.
Fri, 26 Mar 2021.
SONORA LITHIUM IS GOING TO TESLA USA [NEVADA]
I have just posted an article dated 25 Mar 2021 [Thur] that the Gan-BCN lithium is going to Nevada, USA Tesla. It will transported to the USA. Better still, BCN*s CEO, Secker commented as well on this. I have sent it to David Lenigas and KDNC on Twitter.
Well, that ends the story - it was like before as in the days when DL got the Tesla lithium contract from them to supply Sonora, Mexico lithium.
BACK TO SQUARE 1 [all co*s want a competitive price - it was then and will be now as nom].
As said, REM*ers need NOT have lost on their investments if that Tesla deal had not been stopped out by the board as DL said yesterday.
Its on Twitter now.
Fri, 26 Mar 2021.
Hello @news, it might be worth clarifying which board you are referring to. Hopefully we are on the same page and you understand it to be the BCN board as I do.
P.S.
I try to get MORE than 1 article to confirm the news from Mexico.
I have found another one and it is from another publication that the Gan-Bcn Sonora lithium is going to the world*s richest man, E.Musk.
I have sent it to DL but not KDNC.
To me, it means that LONG AGO, when DL-REM said they got the T ESLA deal for Sonora Lithium, it should have sent REM-Bcn on its way. Then, it would be easier to raise funds with Tesla off-take.
However, we now learn from DL that the board "K"ed it and so the excuse was X and Y. However, the cost of Sonora Lithium is lower than norm @$900 or less from all reports. So, how could it be that it could not be sold to Tesla when others were selling up to $4k even. Lithium at its height was some $18k from reports?
So, that is how the whole WHEEL CAME OFF REM and how DL got the "B".
Now, oh, its back to Tesla again, hence DL stunned himself and his candid response.
Well, it is possible that a nice price is also wanted NOW as it was THEN.
So, hence the story of REM ends.
PROOF-Its back to Square 1 and Tesla to take all the lithium from Sonora kinda thing.
This is a Mexican article from just a few days ago also.
So, as I said, this is now all common knowledge in Mexico etc.
Hmm, so the story ends on how REM price fell etc and DL got .....
Ah, when there is a prize.
DYOR. Fri, 26.3.21 ONLY FOR HISTORY - A REVISIT.
Barksy1
A pleasure sharing.
Let*s see.
REM plc - 30%
vs
BCN 35%
Gan 35%
Greater SONORA land [lithium].
Take a look at the pictures and what Sec -k said himself on my feed [not the main feed, its the LKS].
Does not take Mensa IQ to figure out that REM with 30% is in the best place + NO BRITS mentioned by Mining.com Mex nat. See the twit sent to DL.
History wonders what would have happened IF REM TOOK OVER SONORA as an event and how this would play out?
Cant say.
BCN now no longer has 70%. That is what has upset the whole MEXICAN gov, Head of gov, elites etc. The increase from 22.5% to 50% really pushed the button red hot and evidenced by Reuts yesterday?
We, REM *ers can only speak for REM plc [name is in the agreement with DL signing it as Chairman] and ask DL to at least take a look?
BCN will have to look to Sec^ their man and we to our REM.
So, lets hope that REM will be NOT penalised with the rest as govt does not mention REM-they must know given that they are interested in the PRIZE SONORA - 100,000 acres, not Ventana.
Look at the my feed. Its such a pleasure seeing the video still and Ventana rance being cleared etc. Read what Sec+^ said but of course .....
DL is always alert to biz so he is approachable on open Twit.
Take care.
News, Fri, 26 Mar 2021.
P.S. Australia*s richest now, Gina Rinehart via her co chieftain told Australian MP to "PLAN AHEAD" re: iron ore as that is one of Australia*s main stay -see people who made it dont sleep on the wheel. Have a read its on my feed.
Thanks News. Just catching up . You have really been busy digging out some great information. From a novices’ point of view given all the effort dl/rem put into this initially, I can’t see how we would let the NO1 lithium company (the ultimate prize) slip through our fingers. I think there are a few of us on the same page and are looking forward to seeing what plays out next.
P.S.
I have now located an industry mining publication of renown that has cover this topic: Yup, "EYES ARE ON SONORA."
In this pub, Gan*s Head has been interviewed but not BCN.
SP Angel has also been contacted for comment since they are London*s TOP Mining Analysts on SONORA.
Mentions Canadians, Americans & Ch but NOT BRITS.
Lithium assets in Mex said to be 4 x in value vs sovereign debt.
Mex org/co already formed etc.
I have sent this openly in Twit to DL as he should know about it and the legislation etc given that he signed the REM 30% JV to the greater SONORA LANDS.
I am not expecting an answer as that is not for open comment but just to let him know.
Yup, SONORA IS THE PRIZE that everyone wants?
News, Fri 26 Mar 2021.
Industry obviously not asleep including SP ANGEL - how can they be given it involves so much money?
As said, I now take my leave of the REM forum and KDNC.Pl
Information is open and available.
There is too much of its not, its not.
That is up to each one as to what level of due diligence they do.
Otherwise, it will be toing and froing and one cant get on with other things.
DL is open and receptive as they are in business and they know that they need to have up-to-the minute info on what is happening or not happening? All norm in business circles. Look at his LKN-he has lots of contacts. If one has no contacts, how can one do business or FIND SONORA as REM did? Now, world*s No 1 ranked for lithium [SONORA, MEXICO]
With thanks.
News, Fri, 26 Mar 2021
what is convenient. However, investment banks etc are more nuanced in not letting matters run but to find out what is going on , on the ground.
In the past, as said REM*ers tell DL as he is interested and listens but not to people who just bag etc.?
If KDNC etc know, they could act quickly at higher levels to ensure that if there is any upset as seen in Mex right up to Head of govt, this does OT FALL ON REM PLC [the JV partner of Sonora Greater Lands]. It appears that REM plc is NOT MENTIONED ANYWHERE OR OBJECTION FROM EVERY MEX SOURCE THAT I HAVE CHECKED. Ah, HISTORY - WHAT WILL IT SAY?
Yes, loads of X and Y about REM & DL - NOTHING FROM MEX ELITES, PRESS, PUBLICATIONS, GOVT OR EVEN HEAD OF GOV.
Ah, now the flowers fall on the other shoe and if they cannot manage change, then it will be their holders NOT REM IF THEY CAN ACT QUICKLY. BUT WHO IN REM? SUCKLING, KIRAN M?
THEY WILL NEED TO CALL MEX AT THE HIGHEST LEVELS TO HAVE A WORD ABOUT REM*S 30% JV. SOMETHING LIKE THIS CANT BE ALLOWED TO DEVELOP AS THE MEX GOVT IS USING ANALYSTS TO LOOK INTO IT IE SPEC OF LICENCES. FACT: SEC ANSWERED MEXICAN PRESS PUBLICATION : HOPE GOVT WILL HONOUR THE AGEE^ 10 YRS AGO.
Its call nip it in the bud to establish REM*S 30% JV SHARE no matter whatever happens. Who*s going to do that and will the highest levels take their call? Ah, now DL is so needed. Dont other say I am naive. DL has contacts - take a look at LKN and how Mcaarthur could get Glen and Macquiare in Aus which the CEO showed pics of him going to London KDNC - all from the horse*s Twit.
I dont know if he can reach the Mining Dept head but I should think he can as he was the one that SIGNED THE AGREEMENT AS CHAIRMAN OF REM PLC.
So, I leave it there. This is what is actually happening on the ground from more than 1 source and press in Mexico - this actually came up BEFORE the REUTS ARTICLE so that proves this has been simmering for some time. ETC.
Up to each to do their own research and due diligence as the FSA advised.
REM*ers are not so much in the front line as they have not been mentioned but the whole of SONORA HAS COME UNDER INTENSE SCRUTINY. Blood presure may go up once the 29%+ is also disc? I dont know but for myself, I am keeping a closer brief rather than just oh, it nuthin - well it has now come to something otherwise SEC WOULD NOT HAVE ANSWERED MEX PRESS BEFORE THE REUTS ARTICLE - SO HE HIMSELF IS COGNISANT.
OBJECTION? REUTS GIVES THE ANSWER FROM MEX PRESS: 22.5% to 50% OF SONORA= GREATER SONORA LANDS NOW 1/2 DOWN WITH THE 3RD PARTY BY EXTENSION AS DISC.
Page freezing so cant correct. 26.3.21 [FROM MEX NOT ME: FOR THE AVOIDANCE OF DOUBT]
@Observer842
1] I usually check MORE than 1 source if I have the time. I spent time last night doing so. ALL THE SOURCES FROM MEXICO SAY THAT THE SONORA LITHIUM IS GOING TO THE USA - TESLA, not Asia Tesla etc.
2] Journalists etc show:
-Pic of Ventana being cleared.
-Still video of Sonora with running commentary in their language.
-Pics of the lithium
-Overhead or sat pic of Sonora to NEVADA Tesla ie 13 hrs+
-Video information that SONORA has gone to "3RD PARTIES."
-One very long article giving a lot of details ie 2023 1s production and 2nd phase 2024 which will cost $350m+ Secker is also interviewed by this more usual publication and he said something like he hopes the govt will honor the contract "made 10 yrs ago." This is PRIOR to yesterday*s Reuters article.
REUTERS ARTICLE
This article quotes Mex press asking about the licences and in specific mentioned the Gan 22.5% increase TO 50% at ~Sonora. In the long article above, it seem that more than 50 licences have been issued and they have found that it is in the main going to Canadian co*s [listed] that have little capital and therefore by extension they conclude - deem it is for "speculation." That was the title of the Reut article. In the video, the mention of 3rd parties now transpires in the Reuts article who they mean.
So, the objection is the 22.5% to 50% per Mex press as it is specifically mentioned. Given this is the world*s No 1 lithium project, well, all eyes are on it including Mex elites, press, publication and govt and finally HEAD OF MEX GOVT.
So, BXN did know given what Sec said to the Mex press.
THE MEXICANS/GOVT ETC NEVER OBJECTED TO REM - DL when they took 30% of the Sonora Greater Lands. ___________________REM IS NOT MENTIONED NOR DL.______ However, pics of Sec etc have emerged etc in Mexico write up.
ALL FACTUAL AS THE REUTERS ARTICLE IS SENT TO ALL INTERNATIONAL OUTLETS PRESS ETC AND THE HEAD OF GOVT HAS GIVEN HIS STATEMENT INC. THE BOLIVIAN HEAD ETC. SO OFFICIAL INFO FROM HEAD OF GOVT & GOVT.
I am not sure if they are aware than this 3rd party holds 29%+ of the Sonora co? Can this 3rd party now buy X% down the line to take operatorship kinda of thing. It is common knowledge that in the UK 29%+ is a technical situ. ALL EYES IN MEX IS ON SONORA and in particular this 3rd party JV.
I cannot inform KDNC of this situation from Mexico and what Sec said to the press as it is not something one can tweet. In the past, REM*ers used to let DL know on Twit but again this is not appropriate on Twit as Sonora is widely discussed there by the Mex press etc.
DL did not answer immediately to the 1st Mex report about the lithium going into USA-Tela so whether he spoke further to anyone I am not sure but certainly it is of interest to the former Chairman of REM [DL] who got the contract in the 1st place.
Everyone in business or in the investment circle cant afford to doze but I am not sure about investors as they tend to like to hear what i
Worth a listen to this 45 minute podcast @news:
"Lithium and the Global Battery Arms Race with Simon Moores" (24 MARCH 2021)
https://hcinsider.global/lithium-and-the-global-battery-arms-race/
===[
Globally, we have begun the transformation to the lithium-ion Economy. Mega battery factories are growing exponentially. The problem is lithium supply. Mining is constrained by available ores and multiyear start up times. Chemical processing and cathode production is technically challenging, environmentally impactful, and concentrated in China. EV manufacturers are buying all the Lithium supply they can on decade-long contracts. Lithium demand is forecast to outstrip supply by double in 2040 – even with the most optimistic forecasts. What does this mean for producers, commodity traders, financiers, governments and OEMs? How can the world tackle the problem of lithium. Simon Moores, CEO of Benchmark Minerals, the foremost independent pricing agency for Lithium walks us through the lithium supply chain and its consequences.
]===
Also available at: https://www.youtube.com/watch?v=mbl9Px1S1e8
In relation to the Sonora lithium supply I thought it worth clarifying that even if all of the Sonora lithium that Ganfeng is off-taking went to Tesla, Hanwa (Japan) have an off-take too which means some is still likely destined to Asia. Additionally, it could be that if Ganfeng do supply Tesla with Sonora lithium it is to an Asian factory, e.g. the one in China.
Exciting times!
Ob.
Observer842,
I am sure you and Barksy1 catch the drift? It was the Mex gov interested in the lithium. However, the press & folks do not appear happy with the sale of concessions [lithium?] per the said Returer report or that is the drift? Anyhow, it also means that SONORA got highlighted in the Reuts report and in species, the 25% to 50%?
That was what we were discussing ie in that it will mean the GREATER JV LANDS.
I am sure the other earlier stories in Mar 2021 will give indications what may have transpired.
So, now with the Reuts story and the one from Mexico itself, it now transpires that the lithium is going to USA and specifically to Tesla. What is going to happen appears to be a GREATER STORY UNFOLDING ie US gov -Tesla & Mexico? The Sonora lithium is after all now going to US SOIL, not Asia at all as one was told via the BCN presentation etc?
At the same time, FOXCONN is going to Mexico to build cars - FISKER*s and the order they have out. BCN themselves tweeted this as well, so that*s another clue about MEXICO and the role of LITHIUM.
Q here is whether they will locate the battery manufacturing in Mexico for Foxconn, Ford etc or will it still go to the USA to Tesla? Or will Tesla move to Mexico adlthough less likely?
This story is going to run and run and we HAVE TO WAIT FOR NEWS.
DL said via a tweet that 1 ship will take $5m*s worth or ORE [I].
This lithium story is big news as with critical metals for EV*s etc. I have just tweeted about Canada protecting their critical minerals, so this could mean a much tighter market given the US gov wants to locate Livent, Tesla to Canada due to issues of mining in the USA. Well, that was behind closed doors so no details as to what the 30 American firms were told in the S EC meeting including Livent, Tesla and who else one is not aware of.
Everything is revolving around lithium and the battery metals.
So, that ends the story thus far. However, kindly understand that I cannot provide any WARRANTY as these are all 3rd party info via news publications.
No one is privy to everything and it is from PUBLIC SOURCES.
News, Thur 25 Mar 2021.
REM*S 30% IS GOING TO BE OF INTEREST NOW THAT SONORA IS GETTING SO MUCH MORE PUBLICITY and press in Mexico is also cognisant of Sonora via BCN-Gan Reuts story today.
Thanks @news. Hopefully any and all expansion plans for Sonora will be "Great for #KDNC" as DL says :-) I do have a keen interest in following the evolving Lithium story, including Sonora, though my current focus is very much on Amapa as I believe news on this is imminent! Certainly shipping news, and potentially even the news which allows us to take 20% of the project - see my posts on the KDNC board for details. I know you are not in KDNC for the iron, and neither was I, but I now see this as a play which should facilitate our rare earth and lithium projects off the back of (hopefully!) a very decent market cap revaluation. :-))))
Ob.
Just to let you know Obs and Barksy1,
Ref: MEXICAN ARTICLE OUT TODAY at almost the same time as the Reuters article about the Mexican govt and greater involvement in lithium - DL did not know about the Mexican article and so it was good he decided to click on the link to read. It was in Mexican and therefore it was more for the Mexican internal market rather than international news via Reuters.
The Mexican article said GANFENG-BCN SONORA lithium was going to THE USA - TESLA.
This must have been stunning even to DL so he tweeted a reply which Barksy1 posted also on KDNC forum.
Well, on BCN they dont know about the Reuters story nor the Mexican one out today.
If one just read the Reuters story, then one knows that the specifics was on BCN-Gan mentioned.
So, the Mexican one is to reveal that the SONORA -MEXICO LITHIUM IS GOING TO USA-TESLA. In this Mexican article there is no mention that Sonora lithium was going to Asia-China so they may not know about this. All they know is that it is now going to TESLA-USA.
So, that now changes THE SITUATION- THE MEXICAN GOVT WILL KNOW AS IT IS A MEXICAN ARTICLE.
Well, its now going to stun even the Mexican govt and the Head of Mexico?
No one knew earlier as no press report said so.
Well, this has to do with REM plc now ie 30% JV SONORA GREATER LANDS- that is the part where its 50 years and then the balance of the 250 years [minus 19 years for Ventana].
To DL, he tweeted that REM-BCN got that TESLA CONTRACT THEN and now back to TESLA,USA?
DL tweeted that "anyway" its good for kdnc?
That is his perspective. So, the story ends here for now. The rest will come out in drips, I am sure.
News, Thur, 25 Mar 2021.
DYOR.
FOR THE AVOIDANCE OF DOUBT:
I have now covered myself fully via
"Is this the most exciting mine project I*v ever seen?"-Money Week, 21 May 2014
https://moneyweek.com/322173/right-side-exciting-lithium-mining-project
"Quote: But REM has big stakes in the areas where lithium deposits have been identified, BASICALLY REM IN RETURN FOR AN EQUITY STAKE & boy oh boy those drill results came in good." - ALL ABOUT DAVID LENIGAS, CHAIRMAN, REM PLC AND REM - SONORA.
Dallasdaz on KDNC.Pl today, 25 Mar 2021 [Thurs] appears to have taken me to task that REM DID NOT FINANCE SONORA etc [see the exact post as I am just para-phrasing] so I am also posting the Money Week article for history to BACK UP the REM story. Well, MONEY WEEK A BIG PUBLICATION STATES THAT REM DID FINANCE ETC [SEE THEIR QUOTE] so if still not satisfied, then Dallasdas has to take it to Money Week but every REM*ER knows it and there was a tweet as well.
SO, ALL FACTUAL AND EVIDENCED.
Takes Observer842.
Mr Lenigas was not aware of the GANFENG-BCN selling the LITHIUM TO TESLA-USA until it was tweeted to him today, Thur, 25 Mar 2021. Hence, why Mr Lenigas responded via a tweet reply to this BREAKING NEWS FROM MEXICO IN MEXICAN.
Barksy1 posted Mr Lenigas*s tweet as above on KDNC.
Of course it is interesting to follow this story.
News, Thur, 25 Mar 2021.
Hello @news. Since you seem interested in Sonora at the moment you might be interested in reading the 20 page document titled "3 Mar 2021 - Memorandum and Articles of Association" at:
"SONORA LITHIUM LTD"
https://find-and-update.company-information.service.gov.uk/company/11349694/filing-history
The only thing I can remember of note was that BCN and Ganfeng own different classes of shares in the company. @tomcat and I had a bit of a discussion on the reasons why. If I recall correctly it could be to enable the scenario where Ganfeng are willing to fund Sonora expansion plans in the absence of BCN being willing or able to. Just speculation of course!
Ob.
@observer842
1]Ah, so, the 66.6% ONLY REFERS TO THE REM JV 1 CONCESSIONS RE SALE OR DISPOSAL, GRANTING SECURITY ETC ----------------THAT*S BETTER. I NOW WONDER WHY THIS SPECIFICATION? Yes, of course, it may need 66.6% given it is SUBSTANTIVE for any sale or disposal, granting security etc.
2]YAH, I WAS AWARE THAT THE UNSHADED PART HAS NO DRILLING OR JORC - IT WAS OBVIOUS, HENCE WHY IT HAS NO SPECIFIC DEFINITION .
3] OK, WE ARE BACK TO SONORA GREATER JV LANDS WHEREIN THE MAJOR LITHIUM IS LOCATED [see REM plc RNS of 2014 re: results and Chairman*s statement [DL] relating to this which I have just posted on KDNC.PL today, Thur, 25 Mar 2021.
BCN 35%
GANFENG 35%
REM PLC 30%
[Sorry to all those in KDNC who do not acknowledge REM but that is in the legal documents and marked by BCN themselves in their presentation map].
4] Obs, so per your post below, we are back to the NORM OF 50% 50% BCN, GANFANG per the Mexico Reuters story of today, 24-25 Mar 2021.
That means as you now acknowledge that OPERATORSHIP IS AS NORM IE 51%. That will have to be decided between Ganfeng and Bacanora and will have nothing to do with REM plc unless they get together with Bacanora to form 30% + 35%= 65% otherwise, the 1% is CRUCIAL FOR OPERATORSHIP OF SONORA eg how Ganfeng paid US$16m to Lithium Americas to gain 1% so that their share comes to 51% from 50%.
That is another day in the coming future as and when.
Ah so, GRANTING OF SECUIRITY CAN BE DONE AS IS DISPOSAL SALE OF REM JV?
Very interesting.
News, 25 Jan 2021 [Thurs].
With thanks.
Hello @news. Some good posts from you today. I thought I'd better clarify that the 66.6% is only related to certain matters, in others I presume it will be the usual 50%:
Page 243 and 244 of the admission document:
https://www.bacanoralithium.com/pdfs/Companys-AIM-admission-document.pdf
===[
shareholder approval (from the holders of 2/3 of the issued shares) is required in certain circumstances including on the issue or grant of rights in shares, borrowing, granting security, sale or disposal of any of the REM JV1 Concessions;
]===
I also thought I'd clarify that the 8.8Mt LCE is the JORC Resource contained in the Mexilit concessions, and is where the 250 life of mine arises (8,800 / 35 = 251). The 50 years refers to the JORC defined Mineral Reserve of 1,666kt LCE (1,666 / 35 = 47.6)
As far as I am aware there has been no JORC resource or significant exploration in the Megalit areas (the large unshaded area on the presentation)
I hope you find the above information informative. For links, see my posts from last night.
Ob.
See the David Lenigas tweet reply to the Mexican news article just out re: BCN-GANFENG selling the SONORA LITHIUM TO TESLA, not Asia.
Barksy1- click open the tweet to have a look.
Thur, 25.3.21 [Thur]
Mr Lenigas has replied to the news article just out from Mexico about BCN-Ganfeng selling the SONORA LITHIUM production output to TESLA IN THE USA although the original was to go to Asia.
This article in Mexican, also out today, Thur 25.3.21 was sent to Mr Lenigas who was the one to have GOT THE REM-TESLA DEAL FOR SONORA LITHIUM.
Mr Lenigas*s reply is on the KDNC.PL page which I have just posted.
Thur, 25.3.21.