Member Info for Bannor

Aw. Tsk Tsk ... you're so predictable as usual ... .so a show of contrition on your part makes it all OK then does it .... is your name Cummings.

Oh & I am over it as you put it - just don't like you is all so get used to it.

Yes MB ... don't you know that a mouthy bully likes to be left alone or with it's pack of dogs to pick on or vilify someone without interference or being called out for it - hypocritical indeed likes to bully but can't handle being called out for it... it's just not fair eh

Indeed ... last post from me for a while going out to tinker with my new floating sea fishing toy .... enjoy your day....

Morning MrsB .... To be honest I rarely trust an UT price it usually provided a false representation but could/can perhaps does influence some to buy or sell when they should perhaps be doing the opposite ... It's too easy to manufacture an SP when it's completed on the floor between a party (or parties) that might have an interest or agenda (whether they should or not!!) on the performance of the SP in the following session(s).

Call me cynical .... I'm sure you wouldn't be the only one LoL :-))

Morning also FH, MB & YAP YAP

MM's / Broker trying to scare a few into selling cheap? ..... or something else? ..... maybe see a reversal later....

It's also worth remembering the share history & BoD performance, actions & choices to date ... Amapa needs to be delivered

# a crack.

OBS 21:51 Thurs..... I decided to let all the rampers & posters have a free run of the board without my input to see if you could push the SP up over 30p.... doesn't seem to be working though as we're drifting lower again - just goes to prove how much influence on the SP these chat boards have i.e. NOWT.

Morning most :-)) .... had visitors all last week but if there's another Zoom call I might give that crack.

& that's 9 years invested here as time already served... I had thought Amapa could see me out within 10 but GFL just cracked open a possible extension....

I'd be just as happy with GFL buying us out as I would anything else .... One thing I don't want is another 5/6 years of speculation & pondering what plans BCN might or might not have for the JV's & our involvement in it , we've suffered enough dilly dallying by Secker & co ..... GFL offered an alternative from day one IMO & I'm now eager to see how that plays out ... whether for better or worse I don't care because something in the next year or two is far more preferable to me than waiting for BCN to get their fingers out & wondering what shape that will take ... I had planned a possible exit after we took 27% of Amapa but if GFL grab BCN I might wait for a year or two & see how Sonora plays out instead ...

All good for me & an outcome now either way within the window I planned to remain invested 9 years here is more than enough .....

I agree TC ... it is very much down to our BoD .... KM indicated a value of circa $200M for our 30% JV's in Sonora ... that now could materialise sooner rather than later & provide us with opportunities for Amapa & Oz assets we don't currently have without further debt &/or dilution &/or further asset sales.

Even if we get 3/4 of that value in the next year or two I'd be OK with it & consider that a better outcome than the thought of waiting another 6/7 years when the economics, politics & technology all have chances of change in the interim... nope for me it's a thumbs up for the Ganfeng buy out of BCN .... if the shareholders there can squeeze some more pennies out of GFL all well & good for them ... But I won't lose any sleep over it if they can't &:look forward to what GFL come up with in regard to the JV's... at least something will happen quicker with GFL than it was ever likely to with BCN running it & personally for me it can't come soon enough even if it doesn't live up to all our expectations it's been far too long coming in regard to Sonora for me & I'd be happy to see a deal done & across the line whether by sale or joint exploitation.

If that doesn't chime with BCN shareholders - so be it as I said I won't lose any sleep ... Economics trumps sentiment in business.

# your .... not you're.... haste & autocorrect are also poor bedfellows :-))

Morning most...

Dee ... It has nothing to do with PI v PI or any of the history, it's all about economics & opportunity.... I am familiar with a lot of BCN shareholders, many of them are also invested in KDNC & many were here first & sold up to buy into BCN instead.

As for history I was in this share before the first exploratory drills were put into the JV areas some 8 years so have nailed the history in Spades & waited sufficiently for some action as it were.

But back to point which for me is the economics & opportunity:
BCN, due to their own position, currently plan a 35ktpa to 50ktpa operation which takes feedstock from a small portion of JV1 in years 6/7 of the plan ... because that's when the economics of exploiting LV only switch to the JV lands - they're not doing us any favours it's just business.

GFL plan up to a 5 fold increase in that (thanks NEWS) .... so when do you think the JV areas will come into play then (based on economics not some romantic notion of non existent cameraderie between different co's)

you're correct that GFL won't do KDNC any favours but nor will BCN they both have shareholdetr & people to answer to & right now I'm seeing (& always have) GFL as a better opportunity for an earlier sale of the JV's for good value than BCN & failing that exploitation of the JV areas much sooner as the economics will demand it .... either works for me but I reckon GFL will want us out of the picture sooner rather than later which puts us in a better/stronger position with GFL than we've ever been with BCN.

My opinions my views - nothing you've indicated so far changes that because you're position is based on sentiment & expectation instead of the economics & reality.

..... explain in plain language why being a 30%. JV partner to Ganfeng who have huge experience, ambition & pockets to match is not preferable to being partnered with a company that requires a lot of debt to progress & has dragged it's heels for years... GFL owning the balance of the Sonora JV's might mean KDNC can agree a sale of their 30% for good value without any concerns about how payment will be achieved .... maybe even negotiate a royalty as well .... at the least it appears construction, extraction & processing will be bigger & quicker under GFL..... as a KDNC only shareholdetr why should I be concerned about a takeover of BCN by GFL ... I'm only seeing an upside IMO..... But I'm prepared to listen to a reasoned argument to the contrary,..... after all it's not like KDNC & BCN have been the best of bed fellows over the years is it ..... Perhaps that £1 a share offer KDNC made some years ago looks a little more attractive now to BCN shareholders though.....

... that should make for one very happy yappie & a bunch of happy caddies :-)

Potential for degradation Tradecraft.....

.... don't forget also any adjustment required to convert WMT to DMT when it comes to pricing/value for the 2nd shipment...... agree with you TC I reckon the first shipment was as indicated in the 2nd RNS (58% fines) being generous maybe as a result of us not being as close to the operations/sales as we will be when we get our 20%

Oh there might be a red Ferrari .... it'll have Matchbox or Hotwheels embossed on the bottom of it....

Wet metric tonnes are what's produced dry metric tonnes are what's purchased ... Wet metic tonnes (WMT) are usually subjected to an 8% reduction to get the Dry Metric Tonnage (DMT) equivalent.....

But do your own research .... don't trust anything posted here.... :-))

.... yes completely ignoring anything Guffigas say's has helped me hugely over the years :-)