Member Info for Bottmzup

Only the confusion that the Zinnwald situation was separated as being definitely Q2, and funding for Sonara was stated as being included in Q1 as well as Q2. (H1)
These statements were made in the context of a 6 month report going forward towards the next 6 month report. ie Final Results.

So nobody other than those involved really know when it will happen, and anyone reading the RNS today `should` come to that same conclusion.

Funding could be Q1 `19, and it could be Q2`19.
Thats the interpretation that they have left open.

I`m not building my hopes up one way or tother now, because the end of H1 is only the blink of an eye in the big scheme of things, especially when you think that xmas day was nearly 2 months ago!!

Time fly`s when you`re of a certain age group.

I thought we already knew that.
It`s been repeated here many times by many posters.

I think it says milestones..plural

I did a dummy buy at the same time as the 100k `sell` and got quoted the same price. So it was probably a buy.

Maybe a buy order being filled.

For someone who claims such brilliance, your BIOM buy wasn`t exactly perfect timing was it. I`m surprised you bought a stock that has not long ago broke a rising trend thats been in place since Apr `17!!

You were hoping for support around 445p and price is now 388p!

You didn`t wait for the old adage..`the trend is your friend until the bend in the end`!! Upside down!!

So you tried to catch a falling knife!

Oops!

Even though I check out these discussions on LSE I don`t make my decisions on someone`s views which are clearly affected by previous `connections` with the likes of TW.

You may have been sucked in and burnt by TW in the past, but I prefer to make my own decisions on the company announcements, not make those decisions because of previously damaged followers who finally realised they were being duped.
I doubled my money previously on this stock and sold half, so any free carry I had was easy to play with.

I`ve moved on and traded plenty since I sold OBT.
Suggest you do the same and stop trying to claim some higher ground of brilliance just because you called one sell decision right.
Its time to stop celebrating your genius..patting yourself on the back and all that.

I certainly won`t be following you for tips in the future.

Unless you`d care to share some nailed on no brainers of course?

You make some very credible points re raising of funds and the difficulty they faced in doing so.
This company are difficult to assess regarding revenue, because they don`t tell, and that is not shareholder friendly enough to bring in new PI`s...at the moment.

You seem to be running a risky strategy if on one hand you`re saying that there could be delays or problems with the final Gib contract, and then saying that you will sell on the announcement of the signing.

I bought back in in Jan for the submission of the advanced works contract RNS hoping there was going to be a better bounce, I got in below 6p and then when it stalled around 7p I started to try to sell..it wouldn`t let me, obviously a lack of buyers at that price which gave me a scare.
I finally accepted 6.4p, which only gave a 5% profit but felt like I`d escaped with a smile.

I expect the Gib Govt to award the final build contract because they don`t really have many other options if they want the thing built, but any delays, and lack of new other `significant` contract awards could see this drift down to 5p again.
So my strategy is to watch and wait for now. If the RNS arrives and the price gaps up I`m prepared to pay a higher price to get back in, but this is AIM, so the price you pay to buy and subsequently sell (when you want to) are not always attractive, which means it can be easier to get trapped underwater than to swim like a dolphin with a big profit.

A better strategy would be to wait for the final results around the end of March to see exactly how much income they have actually generated, so I might just keep a keen eye out for that instead.

Reminds me of the opening scene of The Life Of Brian when Eric Idle keeps calling Michael Palin `big nose`!

MP: You call me that one more time and I`ll punch you so hard!
EI: Well you have got a big nose.
MP: Alright, I`m warning you...say that one more time and I`ll smash your bloody face in!
EI: Oh, shut up big nose!
MP: Right, thats your last chance, I`m warning you!

Etc!

Yep, fair enough.
I hope it comes before Brexit!

Obviously, the sentence below has been the confusing one by Peter Secker...

"The second half of this year will not just see us look to finalise the funding package for Sonora, but also complete the Feasibility Study for Zinnwald, our second lithium project.

He`s lumped the two processes under the 2nd half intentions, but have always seperated the two by stating that the Zinnwald FS is expected in Q2 `19.

So the funding is expected in the first Q of `19, and the FS is expected in the 2nd Q `19.

Therefore...
"The second half of this year will not just see us look to finalise the funding package for Sonora, but also complete the Feasibility Study for Zinnwald, our second lithium project.

I don`t really get the confusion.

Guys (and maybe girls), I`ve tried, in detail, but I don`t know why this subject is still being banded about under a cloak of suspicion and confusion.

I will try again to make it idiot proof.

In November 18 there was an RNS announcing that Citigroup Global Markets were appointed to lead the equity financing of the Sonora project alongside Canaccord Genuity.

In that RNS was the following statement in a seperate sentence...

Bacanora intends to complete the Construction Funding in the first quarter of 2019. Following a successful financing of the Sonora project, Bacanora will consider seeking a Premium Listing on the Main Market of the London Stock Exchange.

Since that RNS BCN have not (NOT) gone back on that statement...anywhere!

The Interim Report two days ago did not mention that the timeframe for funding has now been put back.
If it had been put back,ie delayed, after stating that timeframe originally, they would be required by stock market rules to say that this was the case, if they knew it to be the case.
Specially within the foreward outlook in an Interim Report.

I had it confirmed by the company`s PR Advisers yesterday, as I posted. But for some reason it has been missed by some.

If there has been an alteration to the expected timeframe for such a significant issue then it would be categorised as price sensitive information, and the Nominated Adviser would make sure that this new information was made known to the world...its their job!

So as it stands, and unless they state otherwise....THERE IS NO DELAY IN FUNDING, AND THEREFORE EXPECTED TO BE COMPLETED BY MARCH 31st 2019!!!

I hope this helps.

well he does represent a sports betting company so should have made it clear that it was 1/888 on against :-)

yep, 14p just paid, looking healthy at the moment, all we need is a decent RNS update and the bounce would get the afterburners lit...ha ha ha!

I really wanted to get to the bottom of this significant point, so while I was pondering what to write in my last post I again phoned the PR adviser to see if they could clear this up, they were in a meeting but the girl who answered took my number and said they would call back.

Just after I posted it Gaby Jenner from St Brides Partners phoned back.

I asked straight out if there was a delay in funding, she seemed a bit taken aback and said why do I ask. I explained (as set out in my post below) and she said that we are still in Q1!!! So the statement regarding the second half `funding and Zinnwald` is pretty much as I said, a general roundup.
So I thought I would ask the question in a different way, I asked...if there was a delay would they have been required to state that there is a delay due to previously saying Q1 was the intention, and she said yes, it would be the Nominated Advisers job to make sure that any price sensitive information was released to the market if it was known, and that would be price sensitive.

So, BCN are still on track to complete funding for Sonora before the end of March.

nomadicinvestor, I still don`t read it that way as a definite statement that funding is now being delayed.

This was the statement...
"The second half of this year will not just see us look to finalise the funding package for Sonora, but also complete the Feasibility Study for Zinnwald, our second lithium project.

This just sounds like a general roundup of what is expected in the second half of the financial year, interims and finals come in 6 monthly blocks, it was an `outlook` statement on what to expect before the Final Results for the financial year ending 30th June.

The Zinnwald FS has always been referred to as being completed in Q2 `19.
The funding was mentioned in the Appointment of Citigroup RNS where they said ...Bacanora intends to complete the Construction Funding in the first quarter of 2019.

These two items can still be achieved in their stated timeframes and at the same time be true to the above quote from yesterdays RNS.

If funding is complete in, say...a month from now, then it is still completed within the first half of `19.

They have categorically NOT stated that there is a delay in the funding process, thats just a simple fact of wording.

It may have been a bit careless and loose the way it was worded, but I think if there was a delay, after saying that they intend to have construction funding in place in Q1 `19, then they would have been required to say that in more precise detail under auditing or stock market rules.

I gave you abuse because you were singing the ecowarrior save the forests..song!

And I didn`t sell because of your obsession to hate TW either.

I sold because of the increasingly confusing RNS`s of jiggery pokery regarding funding and who owns what % of what part of the company...and the stagnant share price...amoungst other reasons.

Miles Pelham has only his interests at heart here, and that became too obvious, so my funds are tucked away in better prospects.
I still watch from a distance.

Looking good for a move back up here from support around 11.75p, consistent buys coming in for the last few days.

nomad, can you explain, or point to, the bit in the RNS yesterday that states that funding is no longer imminent (by the end of March)?
Or is it just your assumption.

I would like to understand why you`re so sure.

Sorry to bring back up this mornings confusion re 1st half 2nd half etc, but having re read my post after getting back home it seems I was getting as confused as others.

So I phoned the company PR advisor for clarification as to why they use one time metric ie Q2 `19 for the Zinnwald Feasibility Study, and another metric...H2 (financial) for the finalising of the Sonora funding. The chap said that he thought it was because interims were done in 6 month blocks July-Dec & Jan-June... I said, so is it because they can be more precise about the FS on Zinnwald ie the 3 month window? He said it must be but didn`t commit to any reason behind it.
I suppose its easier to have a timetable for a FS than gathering funding.
He did say that he understands why it sounds confusing.

Just to correct myself in a post this morning....I wrote

`And...
"The second half of this year will not just see us look to finalise the funding package for Sonora, but also complete the Feasibility Study for Zinnwald, our second lithium project.

That reads to me that the funding will be finalised `during` the second half ie sometime between April and the end of June.....it doesn`t say `by the end of the second half`!

Correction
Of course the second half is not Apr - June, its Jan-June, so we`re 6 weeks in already.
It`s the second quarter `19 that runs Apr-June.

My misake, but why did they separate the two time references?

Answers on a postcard, but my hunch is that they have left the funding part open to be finalised anytime from January onwards until June because its possible that it could happen in the first Q`19 ie anytime now.
If it was more likely to be Apr-June then they could have just lumped the two items in to one timeframe and said both were expected by the end of the financial year.
After all, they lumped the two together in the copied sentence above, but then separated the two by stating that the Zinnwald study was on track for completion in Q2 `19!

Maybe they just enjoy being vague, covering their ar*e with smoke and mirrors!

As with every other company, they have to be very careful what they say in order to get announcements past the auditing process before release.

Personally I hope they keep the price at this level at least until a couple of other stocks I hold reach my target sells. Then I can really load up here before the main funding RNS arrives.

With everything expected to be in place re plans etc they are saying that as soon as funding is in place the construction starts on their high grade low cost mine!

No brainer for me.