Member Info for Bannor

....anything 'could' happen, no one knows & no one will know what it means for us until we start seeing some announcements from the MX Govt & any associated/interested parties in any mining activities ... the thing is we're likely to know what that might look like & what it might mean for us & our JV concessions within hours/days rather than weeks or months & after a 10 years believe me I can't wait to find out ..... hopefully good, goodish & indeed very very good, (their are reasons to hope so), but prepared for anything as always.... From a simple recompense of costs up to & including a kick in the wotsits and/or potentially lengthy legal actions as you should in an AIM co - I'm not seeing however the usually overtly negative signs of a completely disastrous govt takeover of an asset as I have previously in similar circumstances where a commodity, asset or activity has been effectively nationalised so am looking forward to finding out more in the next days hopefully.

They are the 'Holders' of the concessions (excluding the Megalit concession itself) within the JV1 & JV2 areas and in turn are owned 30% by Cadence & 70% Bacanora/Ganfeng

LoL indeed TC .... Incorrect use of the wording holding company ...naughty old hector I shall flagellate myself appropriately:-)

Today...... possibly tomorrow & Friday ....what about Saturday & beyond ..... Gosh I really wish we could use emoji's on here :-/

Indeed ... Mexilit & Megalit as the holding companies owned in the minority by Cadence & the majority Bacanora/Ganfeng .... but hopefully not for much longer ..... I hope :-)

...LoL .... Minerals / Lithium .....Shall we just say Bacanora

@TC Bacanora Minerals is still its own registered entity, still exists & is still the working mining company operating in Sonora they are just 100% owned by Ganfeng now I tried to explain this to NEWS a while back but it wasn't particularly appreciated so gave up LoL ... In the same way that DEV are still a registered business & the operating mining company in Amapa but owned in that instance by us & INDO....

It moved .... but only on the ask and only to where it should have been for the last 30hrs

Possibly @TC so many potential candidates in the mix who also have good reason & deep pockets ...Ganfeng, Ford, LitioMX & the list goes on .... or of course it could potentially turn to dust, hopefully not long to find out :-))

To be fair Jimb ..La Ventana is the heart of Ganfeng in Sonora & 100% owned by them & let them keep it I say.... whilst we sell our JV %'s to the highest bidder hopefully at a minimum of the 'potential value' Kiran indicated in the unpublished 2018 webinar.

...the ask should be 15.50 IMO

.....it's just a reflection on where the mid point is (currently 15.5) any trade lower is posted in red .... The ask's probably still at 16p to accommodate those buying pathetically trifling volumes through the no fee brokers where they have to accept or pay at the extremes of the bid/ask.

....don't be misled by the colour ... the 15.4's are buys

Well if there is news that impacts us (not forgetting that EM has already said they may need to get into the mining business) if we don't get suspended, pending an announcement, the first we'll likely know about it is a sudden price movement as those favoured & in the know hear about it before it's announced to the GP.

...not at all Zoom ... VAT is being discussed but I very much hope & pray we've sold our JV's either through negotiation (or been forced to sell as part of the drag & tag) but in either event for good value at least at the level Kiran touted in 2018.

.... Except that the VAT has been recovered all the way up to the point of export ,... so effectively anything exported has no VAT liability and any VAT paid has either been offset or reclaimed.

Fact is I suspect (but could be wrong) that most Li dug out of Sonora will end up in the export market ..... & None of this stops the MX Govt imposing export levies to increase revenue or providing other tax incentives for companies to encourage them to start up activities ... VAT is a consideration but has it's limits & is a consumer tax/cost rather than any VAT registered business cost.

@TC ...clearly you know what you're talking about and indeed VAT charged is offset against VAT paid throughout the supply chain until it's either consumed in the domestic market or exported and no longer subject (outside scope) to VAT in the country of export and at export the VAT paid on purchase can be reclaimed .... i.e.

1) Miner charges VAT on sale to converter :
2) Converter charges VAT on sale to battery manufacturer and offsets the VAT paid to the Miner against his sales invoice (paying the difference (extra VAT) to the tax authorities)
3) battery manufacturer charges VAT on his supply to the car manufacturer and offsets the VAT paid to the converter against his sales invoice (paying the difference (extra VAT) to the tax authorities)
4) The car manufacturer either sells domestically into the home market & charges VAT on the sale (offsetting his sales VAT against his purchase VAT) OR Exports the goods and they are no longer liable to VAT at all in the origin country so input VAT paid on goods subsequently exported is also recovered.

So ultimately the only VAT receipts for the MX Govt will be for those goods sold into the Mexican domestic market at 16% on the final sales price (with all other VAT charged in the supply chain offset against the final sales value) ... there will ultimately be no VAT paid on any transactions relating to sales of goods that are finally exported .... which in the case of Sonoran Li I can foresee being reasonably high, but in any event I don't think you can simply say that the MX Govt will get 16% VAT revenue on all Sonora Li sales because that's just not how VAT works .... they will eventually receive an unrecoverable VAT (in Mexico called IVA) but only on final sales (if any) into the local country market.

VAT is fully recoverable through a B2B supply chain up to & including export so I don't think you should include that as MX Govt revenue unless the end products are sold into the Mexican consumer market.... when VAT is calculable & payable to the govt as tax revenue on the final price to the domestic consumer (offsetting any inputs on ouputs).

Hopefully it won't be too much longer before we get RNS confirmation of what's going on by who, with who, with what & when .... Perhaps then all this wild & uniformed speculative guesswork might stop & we can talk about facts again.

...well the Chinese don't seem to be having much of an impact TC LoL.