Member Info for Bannor

Irrelevant to me as I sold & bought KDNC instead a while back (soz & all that) but the other 'concern' I would have if holding out (& I've got this mess worked out correctly) would be 'what if' GFL suddenly announced they were proceeding with immediate effect at a cost of $400M GFL would likely fund their then (between 75% & 90%) are you (as the holders of between 10% & 25%) of the operating company ready willing & able to fund your corresponding % of that $400M cost .... or are you expecting GFL to sort it & just handover a % of the margins which could be ..... ??**??

Just a bystander now but interested to know thoughts....

... also that our Sonora & Yangi JV's could be worth $200M each to us ..... The very one that prompted the RNS below from BCN on the 11th (also followed by our selling of our direct interest (which I still believe was a condition of BCN not taking further action but just my opinion on that) & then of course in May GFL took their first chunk of BCN at 25p in May 2019 ..... whether that was already in play or as a consequence of KM saying it is anybody's guess & I guess we'll never be told)..... extract BCN's announcement 11th Dec:

..........

11 December 2018

Bacanora Lithium plc ("Bacanora" or the "Company")

Response to Speculation



Bacanora Lithium plc (AIM: BCN), the London traded lithium company, notes speculation arising from a Webinar held by Cadence Minerals PLC, a significant shareholder in Bacanora, on 10 December 2018. The Company would like to reiterate that Cadence Minerals PLC is not an insider to Bacanora and neither it nor any other shareholder is in possession of any inside information regarding a potential equity raise or any other funding matters.



**ENDS**

.... Not sure 'Secker's' appreciation of Kiran remained the same after Kiran's 2018 webinar!! ..... now where did I put that recording? LoL

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02470175-6A1070224?access_token=83ff96335c2d45a094df02a206a39ff4

From MMS/MIO:
..............................................

Iron Ore Stocks Rebounding

Iron ore (65% FE) continues to increase and firm up, trading at $113.79 and the forecast for 2022 looks to be a stabilization of pricing and increased steel production across the globe. High grade “green” ore will command a premium as demand for the product continues to rise in the global efforts to reduce pollution.

Macarthur Minerals (TSXv: MMS/ASX:MIO) stock closed at $0.30 yesterday, off from its high of $0.70 this year. With the Iron ore spot price rebounding strongly from its low of ~$91 earlier this fall, the sector is starting to rebound. Stocks like Champion Iron (TSX:CIA) closed at $4.63 yesterday, rebounding strongly from its recent low of $3.50. Labrador Iron (TSX:LIF) has also rebounded strongly from recent low, closing yesterday at $36.87 up from $33.50.

We expect iron ore to firm up into 2022 and I believe it's a good time to look at the sector. Macarthur Minerals with a 1.3 billion ton asset is on an aggressive path to production to produce high grade, low impurity ore and is well positioned. We believe it is an attractive opportunity at their current valuation for small cap risk investors.

..... minimal (if any) interest/impact for us (perhaps still 1% MIO!! LoL) but here's a list of the top 20 holders anyway:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02469376-6A1069926?access_token=83ff96335c2d45a094df02a206a39ff4

LoL Mrs Padowski MB ... (pronounced Pad - ov - skee) ... but no wonder we needed to sell EMH down, gotta keep those biscuits coming :-)

....different brokers doing the same things differently LoL

.... that you can no longer vote 'accept' doesn't stop them buying the remaining 1% they require to delist on market .... there's been a number of sizeable trades reported over the last couple of days ....

(Adding that Ganfeng requires 75% in acceptances for Bacanora Lithium to delist)

Bacanora Lithium PLC - developer of Sonora lithium project in Mexico - Acquisition by Ganfeng International Trading (Shanghai) Ltd has become unconditional, following the satisfaction of the Mexican Antitrust Clearance condition.

Ganfeng now requires acceptances from 75% of Bacanora shareholders for the company to apply for its shares on AIM to be cancelled. Ganfeng currently has irrevocable undertakings from 283.9 million shares, reflecting 74% of Bacanora's issued share capital.

... I suspect you'll get your 75% holding RNS in the next day or so

....are you sure MrJ ... for a share that's closed for trading there seems to be a lot of trades being reported? LoL

LoL ...... One things for sure regardless of how KDNC might measure up against other shares it's got a darn sight more potential & more attractive for PI's than BCN now has eh....

...as you know TC I no longer hold here but out of interest what are your thoughts on the implications for those that continue to hold & subsequently hold shares in an unlisted company .... I assume BCN will continue to trade as such but owned say ~85% owned by GFL .... So what happens if a) GFL agree to buy KDNC out of the JV's for £xxM ...., &/or b) it is identified & decided to progress with a development cost of $xxxM .... under those circumstances what would the requirement/obligations (if any) on those who then have a minority interest & no say in how/when & what's decided/progressed & not being listed on an exchange the company being unable to raise funds through a capital raise?

As said I no longer have this concern so irrelevant to me per se but just interested on thoughts as you never know when it might come in handy to know....

...LoL ... Yep fair point (tongue in cheek or not!!) but there is still a 'potential' future here. .... BCN's future was determined for them when they got into bed with GFL & the end date pretty much fixed when the buy out was first tabled ....

.... just as a side comment I haven't lost anything, you can't lose something you never had, what I did was forego any benefit of the Zinnwald distribution, for the benefit of a prompt exit & reinvestment of funds ....

MrC - yep I knew that when I sold them ... sold at near 67p, didn't want Zinnwald & wasn't prepared to wait when I could transfer it in here where if Amapa or something else significant occurs I'll make a darn sight more than Zinnwald shares would've provided .... it was only a small holding of circa £10k which was pretty much flat on my investment there so didn't take too much thinking about ...... not one to look back on decisions I've made & certainly don't regret selling there, buying here & saving myself the headache & angst of the last couple of months..... each to their own eh

MrsB - not 100% sure TBH but replied to TC on BCN as under ......

TC not 100% sure what it means TBH it appears it deletion from FTSE Russell who I 'think' produces indexes, reports, market stats etc etc ... so it may just mean that they will cease monitoring BCN from the 22nd ..... of course it could mean something else entirely so probably worth checking with your broker all I can say is I'm glad I sold up at just 67p a couple of months back ....

TC not 100% sure what it means TBH it appears it deletion from FTSE Russell who I 'think' produces indexes, reports, market stats etc etc ... so it may just mean that they will cease monitoring BCN from the 22nd ..... of course it could mean something else entirely so probably worth checking with your broker all I can say is I'm glad I sold up at just 67p a couple of months back ....

Timed at 17:30 ....