Member Info for Bannor

No..... a company Secretary is a personnel role/position within a company

....fortunately the one thing the Minigases cannot do is sell us off too cheaply without majority shareholder approval, depending on people's averages I suspect this will influence which way they might vote if the opportunity arises ...

So for the BOD (& Ivy :-) ) who've got millions of sub .5 / .4 / .3 & even .2 shares a buyout at .5 or above would be more attractive than for many who have much higher averages & for whom it becomes an opportunity to recover losses rather than make a profit ... interesting mix of possibilities & considerations .... whose up for a sell out at .6 eh before the Minigases have the opportunity to strangle & fritter away any potential future .... rather than hanging on for the potential riches from Sonora we are/were due & should have.

@Frankie..... some thoughts to ponder for you ....

1) we know we've been selling shares @ below 65p .... we went from 9.31% in Sep 17 to approx 8% for a while down to a confirmed 7.4% as at 11th Sep 18 (per BCN RNS 02nd Oct) down to a confirmed 6.95% (per BCN holdings RNS 16th OCT). ... during that final period the price was between 30p & 40p much of the time low 30's - therefore it is entirely possible a large sell (if indeed it was a large sell) last week @ 37p could be us reducing further.... so I won't be vilifying anyone for suggesting it as in my view its entirely plausible - especially as there seems to be some movement in San Luis finally (for good or bad!).

2) When we sold a huge significant portion of our direct BCN holding for 70p a share it was reported this was an increase of 75% over what we paid meaning we had sold shares that cost us 40p..... this was picked up at the time causing angst & differences of opinion between parties who considered the margin misrepresented (including myself) because we had not too many years prior paid £1 each for 4.5M shares but was argued by many that it was OK because purchases were accounted for separately so we didn't need to look at the average but what they cost us.

3) we purchased 4.5M shares at £1 pound per share so I suspect if Kiran stated that our BCN shares cost 65p he must now be talking about the Average - so it's OK to talk average whilst selling share for less than 40p currently - although some would now argue that we've still got the 4.5M shares we bought for a pound a pop so as,if or when we sell shares now we can be making little to nothing & the average of the remainder simply goes up eh!

My opinion - a good demonstration of their financial 'experience' as they now refer to it,..... which I take as an acknowledgement that they were overstating it when talking about their financial 'expertise' previously.

You have to read it how you like it I guess.... I just take it as more DL trained Minigas BS personally, just playing with numbers whilst trying to throw a smoke screen over it as they've done all along...... psssst just say & write it like this Kiran no-one will notice ...oh & don't worry about the syntax, spelling or proof reading too much as it helps deflect for the content.

If anyone's interested Kiran's love letter is still available for a few more kisses & no I still haven't signed it & have no intention of doing so LoL.
https://secure.avaaz.org/en/petition/Kiran_Morzaria_Cadence_Minerals_no_confidence/

LG via a monthly Defined Director Purchase Plan

LG might be better if half their salary was used to buy shares on market .... don't want a scenario where they're issuing 'additional' shares in lieu for what would have been half the salary

https://www.asx.com.au/asx/share-price-research/company/HAS

No worries...... if I was HAS I'd be thinking about making money from my 100% owned areas & then if necessary purchase the 30% in the areas I didn't own in the years to come from profit .... depending on where we are at that time we might be desperate enough to sell cheap (assuming we're still around!!) .

My faith & trust in our BoD has never been lower than it is currently - almost considering whether my 1p target is too ambitious LoL.

Mrs B - it's a bit of a rehash & update of the resources on their 100% owned licenses - doesn't change the inferred or measured resources in our interests nor the mine plans.

A further update.... so I wonder where we are now with ours & wonder how much we have or might need to factor in for our CSR..

https://www.asx.com.au/asx/share-price-research/company/LRS

https://www.asx.com.au/asx/share-price-research/company/CLY

He can't pay off the loan in shares without our authority to do so.... full stop ... but your correct & as I've previously stated a lot can happen in 3 months ... roll on Feb.

My meaning is that the past is past & it can't be changed, as I indicated whether you feel that was good or bad is a personal opinion but for me it's only e next 3 months that now have any relevance to my current & future investment here.... one way I'll stick around comfortable we're moving in the right direction now & the other I'll sell up & wait to see if they survive Linds involvement in any form worth investing in at a later date.... from that perspective the past is now irrelevant.... if you want to see it as indicative of the future & base your future investment, involvement or thoughts on the past that's fine & dandy for you...... me I'm just looking forward to Feb & where we'll be then & the past is gone (as currently is the bulk of the funds I invested here) just looking to get to break even or out....

Nobody works for free so I wouldn't think that's likely or viable, as far as I'm concerned Rufus is there for the foreseeable future & the fact of the matter is they can either make this a commercially viable company within the next 3 months with the $750k or they can't.... with or without further news on the CTPP.

If they can we can vote against the CLN the possibility of dilution is gone, if they can't the CLN would almost certainly have to be voted for to enable the company to survive.... whether it then subsequently survives Lind is a big question mark & why I'd sell up & look at it again after Lind had gone if it survives.

What's happened to date is history now & unchangeable so it's irrelevant whether the BoD have done, acted &/or communicated well or poorly (matter for each to decide for themselves) & this could spin on news of the CTPP of course in the next 3 months as well as the ability to commercially supply a product without news on the CTPP & potentially news that the CTPP is deferred, delayed, won't happen or we he a nothing past the 8th Dec & before the vote.

Clocks ticking towards Feb for me & the current BoD have till then to prove commercial viability in my opinion.

What I'm trying (poorly) to say is that the potential dilution is irrelevant if we don't vote in favour of the CLN as they won't be able to issue the shares....... the whole thing (in my opinion) has been set up to provide $750k now & I don't think Lind will release more unless we vote in favour of the CLN .... wouldn't be the first time I've been wrong in my thinking though & as always everyone needs to assess it & their own position as they see fit .... my clock is now set for the vote & depending on which way the vote goes I'll stay & reset or sell & wait for Lind to feck orf if they don't feck the company in the process of milking & shagging it for as much & as quickly as they can ... just my thoughts though eh !!

... just a few points... the biggest concern fir me would be when and under what circumstances Lind would agree to the drawing down any part of or the total balance of the remaining $2M on offer.

My head Says the both our BoD & Lind would await the result of the vote by shareholders on the authority to issue shares, which is why as far as I'm concerned they have until the vote to improve incomes to the extent we can pay off the current $750k loan including the 2 month penalty I.e. without dilution & the vote is against the CLN.

Right now it's a cash loan & without the authority to issue shares I think Lind will hold back releasing further funds as it will restrict the games they could play..... if the CLN is permitted to be formalised I'll sell up & look at it again once Lind are out... but that's just my thoughts& intentions ... each to their own though...

Hi JZD apologies for not responding earlier I've been busy..... I would say that Yes they have the ability to organise a 'loan' of funds what they don't have is the authority to pay any part or all of it back in shares nor do they have the authority to issue warrants against a loan - that is why as it stands they must have our approval .... the BoD & Lind have clearly agreed this 3 month 'window' so part of me is hoping that they have created & allowed for the possibility of cash generation to repay it & if possible deny the CLN.

As I said Lind can't lose from what I can tell & they've just done 'unsurprisingly' what they do .... the BoD have given themselves 3 months to generate sufficient cash & give us the opportunity to vote against the CLN as far as I'm concerned....

It's not possible to stop this now..... the first $750k is probably with us now according to the RNS however Lind have agreed to this with the knowledge that EDL do not have the authority to issue shares, without which we must repay the $750k in 22 monthly instalments.

The only time & opportunity we will have to stop the CLN being fully formalised with the potential of dilution is at the meeting in Feb specifically to gain shareholder approval.

Lind can't lose they've already got a $900k repayment schedule of 20 months for the initial $750k loan (out of which they've also taken a $37.5k 'commitment' fee)..... if we vote against the CLN in Feb they get an extra 2 months payments ..... this in my mind being preferable.

You will get your chance to stop the CLN in Feb but the initial loan is already a done deal.... said it before enough times the BoD have until Feb To sort this out as far as I'm concerned.... the extra 2 months loan replacement would be more attractive to me than the dilution.... however if the CLN is passed at the meeting I doubt I will remain to worry about the ultimate fate of the company as a result.

Where it refers to HAS owning 70% of a mining lease we hold the other 30%…… the telling comment is the second paragraph under the Yangibana project on page 7...

No you're spot on as far as I'm concerned... they relocated the plant for economies of access & construction.... don't believe that changed the plans or timeframes of extraction of feedstock from licence areas though... but if you or anyone can advise otherwise that'd be great.... personally I'm still hoping for a mining major or greedy EV co to buy out large portions or the whole kit & caboodle......

Not sure I understand Mrs B ... our concessions have always been included as part of the Lithium Project ...... the questions & comments have always been around how much & when feedstocks from the concessions we own 30% of will be used for processing commercially for sale Lithium.... which in the current (or last I saw) mine plan is not for several years...

Notes at bottom of this RNS from a couple of years back...
http://www.lse.co.uk/share-regulatory-news.asp?shareprice=BCN&ArticleCode=wb5bxl58