Member Info for BorderBob

Speaking of Nissan and their neocolonialist outpost at Sunderland -- you do realize, don't you, that they buy their batteries from a Chinese company? Don't you wonder where Envision AESC buys its lithium? Could it be .... Ganfeng?

John is making sensible comments, can we start calling him a troll? I would just substitute, when he uses the general terms “market” and “investors,” the specific term “people who put money into junior lithium ventures.” Since BCN is only one of 99 choices, and several of the others seem to be doing well in the last few weeks, the question is what they see that the True Believers don’t.

They're still using the pre-dilution share count -- Credit Agricole now has only 2.21% of shares.
Dilution, of course, reminds us of the Duchy of Grand Fenwick, where the two parties are the Dilutionists and the Anti-Dilutionists. Grand Fenwick may be an allegory for the Bacanora Restistance, although Pimlico would be more appropriate.

@mrcaustic "Why didnt he just make his point and leave."
Had anyone responded to the facts or opinion I posted, with their own facts or opinion, that might have happened. But the schoolyard boys here can't get beyond calling names. I am not a troll, but I will respond to those who want to offend me. Although at some point I will feel sorry enough for you to go elsewhere.

But what does he know? He’s just a Mexican.

The head of Mexican mining chamber Camimex played down the country’s potential as a global lithium producer amid the ongoing nationalization debate.

Camimex president Fernando Alanís Ortega told local daily La Jornada that Mexico’s lithium resources, while extensive, are mainly clay deposits with very low concentrations. Lithium production globally is mainly from salt flats (salars) or hard rock deposits, said Alanís.

“Unfortunately the lithium [deposits] that there are in Mexico have a concentration of just 0.001%, and to take them to 30%, which is what batteries need, requires a huge amount of energy, which renders them uneconomic,” he said. “Today there is no commercial process in the world for this, we are a long way from being a major force in lithium,” Alanís added.

https://www.bnamericas.com/en/news/mexico-mining-chamber-downplays-lithium-potential

@fonz Why are you making things up about me? I posted at 18:14 on Friday that I was surprised no one had yet mentioned the Credit Agricole stake. You asked at 18:41 what I thought it involved. I replied at 19:04 that I have no idea. I have not posted about it since. Yet you accuse me of a connection with their trading desk. What is your motive with that?

Yes, all those who do not tolerate dissent are required to label someone a troll.

Four years ago Albemarle was trading at $110; today, it’s at $160 (and I’m making 20% annual return on it just by writing covered call options and spreads). Of course, it has lithium to sell, not just the promise of some lithium when everyone and his brother will be hauling it to market, about the time that aluminium-ion batteries have lessened the demand.

A recent Fitch report shows that there are 99 lithium projects in development around the world, and 25 more already in production. Is the one in a country noted for its crime and corruption, the best of a promising lot? I doubt you would agree today.

https://www.miningweekly.com/article/lithium-price-maintains-momentum-as-supply-is-short-fitch-solutions-2021-05-24

BCN can ask to extend that June 3 deadline indefinitely. I looked it up. It's online.

Rule 2.6(c) The Panel will normally consent to an extension of a deadline set
in accordance with Rule 2.6(a), or any previously extended deadline, at
the request of the board of the offeree company and after taking into
account all relevant factors, including:
(i) the status of negotiations between the offeree company and
the potential offeror; and
(ii) the anticipated timetable for their completion.
Where the Panel consents to an extension of a deadline, the offeree
company must promptly make an announcement setting out the new
deadline and commenting on the matters referred to in paragraphs (i)
and (ii) above.
(d) When an offeror has announced a firm intention to make an offer
and it has been announced that a publicly identified potential offeror
might make a competing offer (whether that announcement was made
prior to or following the announcement of the first offer), the potential
offeror must, by 5.00 pm on the 53rd day following the publication of the
first offeror’s initial offer document, either:
(i) announce a firm intention to make an offer in accordance with
Rule 2.7; or
(ii) announce that it does not intend to make an offer, in which
case the announcement will be treated as a statement to which
Rule 2.8 applies.

@mrjames "Why would Hanwa support this"

Does anyone know the details of the offtake agreements that Hanwa and Ganfeng both have? On their part, they have committed to buy a percentage of production. But, at what price? Was it locked in at the time the agreement was made and the lithium market was glutted? Have the terms ever been revealed? is BCN set up to lose money on every ton but make up for it on volume?

From a footnote in the 2020 annual report, which noted D&A Income (same as Holdings?) owned 2.1% at that time:
Igneous Capital Ltd is a private corporation incorporated under the laws of the British Virgin Islands that is controlled by and ultimately beneficially owned by Mr. Graham Edwards. Mr. Edwards is also one of the potential beneficiaries of a trust that owns D&A Income Ltd.

I am surprised that Tmac1103 has not yet been called a troll, but apparently a little conspiracy theory about management is welcome here. The Board will have the opportunity to explain itself, if a firm offer is made. What the market has already told us is that people are not buying what the True Believers are trying not to sell. The grass is always greener on the other side, and for some people the lithium in Mexico is more exotic than what will be less expensive to extract in Cornwall or the Rhine valley. What we have now is a £5 million tail trying to wag a £250 million dog. It’s amusing to watch and honestly, that’s why I’m here.

About that claim of it being the world’s largest lithium resource:

Mexico does not have the largest lithium reserve in the world, but the confusion arises from a report by the Bacanora Lithium company, which published the discovery of 243 million tons of lithium, when in fact they refer to clay that contains lithium, clarified Dr. Flor de María Harp, director of the Mexican Geological Survey.

https://aristeguinoticias.com/2105/aristegui-en-vivo/enterate/mexico-no-tiene-las-reservas-mas-grandes-de-litio-harp-enterate/
(Includes a telephone interview in Spanish)

I have no idea what Credit Agricole is doing. All I know is that when it comes to the French coming to Latin America, they are always late to the party. They ended up with a Guiana swamp, Haiti for a while, and some island with a volcano. I'm sure there is some lithium project somewhere that the French have a stake in, but I can't name one. Meanwhile, even the Chileans are investing in a huge Australian project.

But maybe they are just angling for a chunk of that Dresden dirt.

Odd that no one is wondering what Credit Agricole plans to do with its newly-purchased shares.
Where does this "eight month" fantasy deadline originate? Even the June 3 filing can be postponed if BCN requests.

Dissent will not be tolerated!

Dutton, you have to understand that the mentality of the BCN True Believers who post here, lamenting what may happen to their fraction of 1% of stock ownership, is to attack the person and not the facts. If you think it's important to find out what kind of people place their bets on Mexican mining projects, stay around and watch -- and ignore the intimidation.

@foz "What I don’t understand, how can you release this update with strategic decisions in it when we don’t even know the outcome of the possible bid?"
A joint venture is something like a marriage. Even if a divorce is in the works, the parents are still responsible for fixing the kids' breakfast and getting them to school.

If 7.6 million shares from Credit Agricole represent 2.3%, what percentage are only a million shares? We have a saying in my country, comparing such small numbers to a gnat's posterior.

Has anyone else noticed Credit Agricole's interest in BCN? As of May 7, they owned 6,643,658 shares. Now they own 7,617,916 shares. I keep seeing 100,000-share lots crossing at about 55p.