Member Info for Bannor

11am 05th Oct if anyone wants to stay up late to watch it ....

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02719555-6A1171819?access_token=83ff96335c2d45a094df02a206a39ff4

Bit more info regarding decreasing holdings:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02719448-6A1171748?access_token=83ff96335c2d45a094df02a206a39ff4

......talking is one thing signatures on paper is quite another ..... especially under the right conditions..... best doe us if there's competing suitors though ....fingers crossed eh🤞

......if there's a party interested enough ...so many possibilities & so many questions 😄⁉️

& still getting quoted 6.712 for 225k ..... still NT for 250k 🤔

....but shipments haven't resumed & nor are they scheduled to so so much for the 'within the next 6 months' .... but perhaps below says a lot as well as possibly explaining (OK maybe a stretch!) why such a large 'permission to raise' was requested (& approved) at the AGM .... so if it is we'll (well most of us) will be locked out .....again!!

"As previously disclosed, given these unprecedented macroeconomic conditions in 2022, DEV could not meet the 2022 payment schedule per the settlement deed. Although the bank creditors have reserved their rights, the settlement deed remains in full effect. All parties are in discussions to agree on a new timetable to rephase payments or to reach a one-time payment to settle all outstanding amounts.

With the current iron ore prices and shipping costs, selling the 58% iron ore concentrate stockpile is economically viable. Although DEV can recommend material shipment, the secured bank creditors must approve it as they will receive the net proceeds of the stockpile sale. As a result of the ongoing discussions, no material shipments are scheduled to be made."

Yes .... we've also clearly not engaged or sacked the proof reader 😂

From HAS 2023 report :

Turning to the market, it was a tale of two halves for NdPr oxides in the 2023 financial year, with prices falling 60% from the peak in February 2022,

as demand for permanent magnets in China remained weak due to the disappointing post-COVID economic rebound and rising interest rates

environment. It is no surprise that our fortunes followed in tandem, with our share price at its multi-year weakest as a result of its close correlation to the commodity price, as well as the

increase in capital costs for the project due to industry-wide cost escalations.

.....down $3 per share from our conversion rate of $3.67 earlier this year!!!!

Effectively t's safe to assume that in my opinion regardless, that we've not had an RNS on it might be indicative, but also considering that even if it's DEV's Ore the proceeds will be used to pay down the bank debt in any event .... so even if it does find it's way into DEV's accounts it won't be there for very long anyway ...... depending on how the payment vehicle(s) & terms have been or will be agreed & set up we might not see anything other than DEV's costs covered .... another mystery to perhaps ponder or not bother your head on as you choose .....

....just seems to me that AMLO is flailing around trying to find an angle that might stick .... unfortunately we have no real idea what's going on behind the scenes... it may boil down to GFL not being as co-operative as they want to supplying into the MX supply chain & this is just a bargaining tool .... who knows .... certainly not us & probably we never will 🤷

Oops ...pages 61 to 63 of this

https://www1.hkexnews.hk/listedco/listconews/sehk/2023/0928/2023092801597.pdf

Full text re Sonora on pages 61 thru 63....

Published by Ganfeng today:

Significant Events after the Reporting Period (Continued)

The Updates on Sonora Project in Mexico (Continued)

(3) Impact on the Company

1. The lithium concessions’ cancellations issued by the DGM are not final.

Depending on the progress of the Company’s further actions and the

outcome of the above-mentioned matters, whether cancellations will

be revoked or maintained in place, and the scope of the concessions

affected are still uncertain.

2. There is still uncertainty as to whether the above-mentioned matters may

cause the Company to incur asset impairment losses, and whether they

may have a certain negative impact on the results of the Company.

The Company is pursuing various remedies, including administrative review

recourses to challenge the DGM’s resolutions. If necessary, the Group

will resort to additional remedies under Mexican or international law. The

final outcome of the Company’s exercise of these remedies is subject to

uncertainties. The Board will pay active attention to the progress of the matter

and fulfil its information disclosure obligations in a timely manner.

Hmmm almost makes you wonder whether someone(s) got a buy order waiting in the background!

..yes but not new 'news' as it were as their association to KDNC is in respect to the Mezz loan we announced earlier in May of this year ...

Indeed ... also being quoted 6.71 for 200k shares by Mr broker today (not barcs) .... interesting 🤔

Apologies to both Dallas & @ TC .... that reply should have been addressed to Dallas 😁

Indeed TC .... as it stands it's a wait & see .... no telling what a govt will do as I've previously outlined with Bolivia & Rurelec many moons ago when they did take the 'country' to court over nationalized electricity ... won got awarded a fraction of their claim & then ultimately accepted a reduced take it or leave it offer by the Bolivians ...it's not over till it's over .... until then it's just fingers crossed for me.

..all well & good however it :

a) has yet to be ruled on

b) has nothing to do with lithium nationalisation or the cancellation of concessions although might provide some direction of travel

c) even if the decision goes against the govt AMLO is suggesting consequences so it might not be the end of it.

I'll keep the champers in the fridge until there is absolute certainty over the JV's until then they're simply cancelled but under dispute as far as I'm concerned.

... unfortunately we've seen & heard many voices saying that they 'believe' it's not possible however the reality at the moment is they are ... so until we get confirmation the cancellations have been legally overturned or withdrawn I'll personally keep the champagne on ice ..... for now at least!!