Member Info for Bannor

Looks to take any concern out of Ganfeng proceeding ... good for us too even though we don't have (or next to nothing) a direct interest in them any more.

Targeting construction commencing at year end....
https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02135293

Hmmm just says to me Ganfeng may be running short of readily available cash reserves...... really hope it doesn't impact their plans with BCN but let's wait & see....

Indeed I looked for the conversation on the BCN board before replying here.... Quite odd I find it.

But I do disagree some on the potential impact for us if the Ganfeng deal with BCN falls through due a lack of cash... Whilst we have little to nothing invested directly in BCN... Delays in the ectraction/mining/producing means that our JV interests in respect to our SP remains valued at next to nothing... If the Ganfeng deal goes ahead the value of our JV increases in my opinion... So should the Ganfeng deal with BCN fail then we're further away from realising value from the JV whether by exploitation or someone (like Ganfeng themselves) buying our 30% JV interest from us.

..... Surprised there's not more discussion about this especially if Ganfeng aren't able to follow through with their investment in BCN as a result of this cash raise getting voted down..... Be interesting to see how this plays out....

.... more info over and above a couple of lines in the actual EMH RNS on the 5th Aug
https://www.lse.co.uk/rns/EMH/european-metals-hldg-extension-of-cinovec-exploration-licence--yz4fzlydzcuhmpo.html

....unfortunately that appears more relevant to BCN as a miner rather than us as an investor & they're just coming out of their orphan period with major investors & insties on board ..... unlike the graph though it looks to me like our esteemed KDNC BoD deemed it a good idea to hang onto our shares & sell the majority at the bottom of the orphan period rather than the top of the discovery period where 'speculators' leave or hang on until full value at exploitation ..... Minigases rock!!

Re @Bannor May have a different take or know more ..... no he doesn't .... as far as it goes my view on the blocking of the redomicle was more in regard to our own manoeuvrings at the time than it was about anything despite what may have been stated or speculated upon....nothing was ever formally documented about it as far as I know (happy to be proved otherwise) so the rest of it is just bluster & speculation as is most of mine generally.

My hope is still that Ganfeng simply buy us out for between £100M & £150M don't care where in that range .. you can have the rest of it free of me.

https://www.kitco.com/news/2014-08-06/Rare-Earth-Minerals-Plc-Initial-TREO-results-from-Greenland.html

https://investorintel.com/sectors/technology-metals/technology-metals-news/rare-earth-minerals-plc-update-greenland-exploration/

GMEL given 20M shares as payment for assistance but I think they sold em pretty quick.....
https://investorintel.com/sectors/technology-metals/technology-metals-news/rare-earth-minerals-plc-exploration-commence-greenland/

....... if someone wanted to buy Hastings they could simply do it ....however Hastings only own 70% of certain licence areas so that's all they would get of those licences...... if they wanted 100% of all the licence areas they would need to purchase the 30% of those held by KDNC separately from us ....

Do another shareholder conference call....don't you remember saying you were going to do them regularly (quarterly wasn't it) or has the last 2 disastrous performances & impacts thereof shown you up too much?? LoL

They aren't due per current 'schedule' to take feed from the JV area for several years so any contribution required should be some time off ..... however .....as I recall Observer842 also considered it likely that Cadence wouldn't need/be asked to contribute towards Capex & that it would be agreed that the CAPEX costs attributable to KDNC would be deducted from profit by the way of 'processing fees' prior to transfer to KDNC.

I might be wrong in that recollection though so due apologies if so ..... personally I wouldn't be surprised if BCN/GFL wouldn't try to drill another nail in our coffin by asking for the contribution at the appropriate time ... if they haven't seen us off or bought us out in the interim....

Just my guess .... personally I'm hoping GFL buy our 30% of the JV's outright for no less than £100 to £150M so I can get out & leave the minigases to it....

Sorry .... that's doesn't read right ... they are NOT purchasing E25 for $3M they are simply purchasing the licence to the th e Cummins range rare earth project FROM E25 for $3M (cash & probably shares)...

Frankie.... Clancy are purchasing 100% of RareX which holds an option to purchase 100% of E25 (E25) who hold the licence ...they are paying RareX a non refundable $25K for an exclusive 14 day period for CD, offering Jeremy Robinson (founder of RareX an exec seat on Clancys Board & issuing 60M (post consolidation shares as a consideration...... if all approved by ASX & shareholders the $3M (cash or shares) is payable by Clancy to E25 then Clancy own the licence ..... that's assuming all the milestones/requirements are met....

I should've said :

Just my interpretation though from the brief Skim read through so if it's wrong or I've missed anything happy for it to be pointed out ....I'm sincerely hoping to be outta here before this might generate any real excitement....

Very precis: Another mining licence project ... 100% of the Cummins range rare earth project.... looks like for effectively $3M (cash & potentially shares) over a 36 month period plus exclusivity fees during a 14 day period for due diligence (let's hope they do a better job than they did on the Leogang DD!!) & shares as fees ..... etc etc etc .....

All effectively subject to ASX & shareholder approval...

Just my interpretation though

https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02129838

That's been my hope & wish since GFL' s involvement...... for the right money !!!

No they don't have to retain any direct interest in BCN .... their direct holding (or not!!) is separate to & independent of the JV(s)

..... & Our Direct interest in BCN is further reduced 0.5% & we continue to take on more debt ....