Member Info for bluegrass

Glad your ok. Think everyone really appreciates all your hard work. Certainly a big thank you from me.

You know that's not exactly what I meant. I meant that this is a very valuable resource to Garfeng and they are not going to put the licence in jeopardy my going slow for 2 years or 3 years. This is still very good business for Garfeng with their 50 % ownership of resource plus 30 odd % of BCN. They will just carry on as normal, they are not a petulant child as Foz has said. They are trying to buy up BCN because there is an opportunity and we have a weak board. Shouldn't underestimate the value of German assets either.

Don't think it would be an option to go slow on the project. Wouldn't go down well with Mexican government and could lead to licencing problems.

Posted every day up until 22nd and nothing since. Hope he’s not been kidnapped.

Dee are you ok?

I was so worried that they may decide not to put a bid in. Phew! For the absence of doubt that is sarcasm.

If a bid is delayed and as the project progresses it will make the offer look even more ridiculous.

Lets not forget they are not even going to have to part with £190 million because BCN has a lot of cash in the bank. The actual real cost to Garfeng is a lot less. wouldn't be surprised if they came up with with some cost savings on the construction if they manage to acquire BCN.

What I find peculiar is that BCN seems to keep telling us what a wonderful job they are doing and how well the project is going. No doubt they will also say this at the AGM. How does this stack up with them recommending to sell the whole lot in a cut price deal? That is the question I would love to ask Secker.

Sorry if I am being stupid, but actually what is Ariana?

Yes but your calculation is only based on the current project size an does not take account of expansion .

This was my request to ii for clarification.

"This is I hold shares in Bacanora (BCN). We are under notice that the company may be subject to a formal takeover offer. As we have previously discussed I can instruct you to cast the votes for the shares I hold at the relevant time if the opportunity arises. My question is - as the nominee account provider, what action will ii carry out with other shares you hold as nominee account provider, if you do not receive any instruction from the holder of the shares? Will you not cast votes at all or will you cast your votes in accordance with BCN's board of directors recommendations.

I would be grateful if you could clarify this as soon as possible since an action may be immanent."

What ever the exact number of votes needed it does not change our strategy. We just need as many votes against the takeover as possible.

I think a more important point was raised by Tomcat:
"nominee account providers will / can… vote your votes with the bod’s recommendation… if you don’t instruct them otherwise…"

I think this is a real worry and will be contacting my holder 'ii' for clarification. If this is the case maybe we should be lobbying nominee account holders to do otherwise.

Voted on AGM yesterday. My shares are held by 'ii' and today is the last day you can vote by proxy on their website. Anyone who is going to vote should probably do so straight away.

Amongst other items I voted down any right to create or allocate new shares. Don't see why that is needed with so much cash in bank.

Some may think voting in AGM is pointless, but I agree with nomad that it will put a shot across the board's bows if we get some numbers.

Thank you for the update Dee. Completely bowled over by the amazing job you are doing.

Although it probably has no impact please stop using the time to sell subject line as I am sure its continued use is causing amusement and satisfaction to it's inventor.

Personally at the moment I think it is distracting to start considering a figure which people might consider acceptable, since this will divide opinion and at the moment their is consensus to reject the bid. Now the mine is fully funded my mind set was for the long haul to see where it led us. Don't see 75p as any more attractive at all. I would really be looking at double the offer price or at least £1.20 to start to be interested.

Suppose the question is have they increase their stake to make quick profit or are they in it for the long haul.

One advantage that I can see from the takeover shenanigans is that it is doing a good job at raising the profile of BCN. So provided it can be knocked back it may benefit the SP going forward.

Thanks Strangerstill. Maybe the person I spoke to gave me duff information. I have now subscribed to ii's voting scheme so hopefully I will get the opportunity also. But it just shows that everyone needs to make enquiries to their brokers to check what their arrangements are and not miss the opportunity to vote.

My shares are held by ii, Interactive Investor. Just checked my account and called them to find out their process on this.

Firstly I noticed that I had not previously ticked the box to subscribe to receive voting information electronically (in preferences under account information), I have now corrected this situation.

Secondly when I called them they said I would have the right to vote, however as this was an AIM market share I would not be informed electronically and would have to actually call them when and if there was a formal vote. They said it would me up to me to do this and they would not be sending out any messages or prompts. If I notified them at the right time they said they would register the vote on my behalf. This seems a bit unsatisfactory and I don't really see their reasoning for differentiating the AIM market from others in this respect. I have asked ii to confirm this to me and shall comment again if I get some clearer information.

It generally seems that the current rules and setup do not make it easy and I think BCN maybe relying on this fact and that is partly why they are not giving respect to ordinary share holders. I think shareholders do have the right to vote however it involves a bit of work and is not made simple. Would recommend that everybody calls their brokers or whoever holds their shares to get prepared for this ahead of any expected announcement.

One way or another Secker and the board will be doing very nicely out of this. You would have thought they would have to declare any advantage to themselves if they recommend a deal for the sake of transparency. I really don’t know why they should be entitled to any reward for recommending a crap deal that does not protect the majority of shareholders interests. Can’t help thinking about little brown envelopes and tax havens, but have probably been watching too many movies.

On a serious note I would like to hear the boards justification for recommending this deal. So far this has been completely lacking.

Please don’t engage with Bob. He’s leading people into discussions we don’t need to have at the moment and it’s a distraction. He cleverly weaves a few facts into his nonsense to make it seem like he wants to engage in a sensible argument but it’s just a ploy to draw people into pointless arguments. Better to just ignore and think about why he suddenly appeared at this time. However well thought replies to his messages are you will never bring him round and he will just come up with some other line to try to raise doubts.

Yes and rather than just being negative do you have any better suggestions. Think it also encourages people to be more proactive and vote this down when the time comes.

Thank you for doing this. I am interested to see contact list and send emails. Will probably use my own wording. Did you say you have formed a temporary email address? Not brilliant on workings of WhatsApp. How do you search for this?