Member Info for ChameleonMan

There seems to be a certain amount of unhatched chicken counting going on regarding payouts? Even if Gangfeng secure sufficient votes, the Mexican government is blocking it from going through at least until reviewed and how long is that going to take? If there are insufficient votes then either the offer will be withdrawn completely or be replaced with a better one. Again a long delay?

“ And what’s wrong with the US car industry relying on Chinese lithium?”
Do I really need to answer that?

If we want to turn this into a geopolitical drama then it’s equally likely that the US is leaning on The Mexican government to disrupt the deal. I mean do they really want their car industry to be reliant on Chinese-owned lithium from just across the Californian border?

Well-timed options I should think?

Sivad, in my mind it depends on the price of the transaction -whether it is nearer to the bid or offer price. If there are more buyers initiating trades at or near the bid price then the trade will be identified as a buy ( even though as you say there has to be a counter party seller). If there are more trades initiated by sellers at or near the offer price, then the trade will be identified as a sale. Hope that helps?

Great start!

…plus further news on the way forward for Moz to be announced this quarter!

Are you an institutional investor? If not my comment was not addressed to you. As a private investor, following M&G may be your safest option if you are risk-averse. My point is that II fund managers should show some back bone and oppose this lousy deal.

Hi Trikidiki, I’m pretty sure the other IIs are fairly clueless and are planning to line up behind M&G to either, make a little welcome money if the deal goes through as is, or a lot more money if a better offer comes along. Herd mentality! Watch any episode of “Sean the Sheep” for reference?

They need support from pretty much all the major institutional investors in addition to M&G to get past 50%. Must be a lot of schmoozing of fund managers going on currently?

“ 2 Action to be taken
Bacanora Shareholders who have not yet accepted the Offer are urged to do so as soon as possible”. Yeah right! Ha ha!

Makes you wonder what their expectations were for this stage? Neither the BCN board or Gangfeng’s M&A team are covering themselves in glory?

Well someone would have to take the blame for the failed takeover and that wouldn’t be solely the Gangfeng M&A team. The current BCN board may well have become their puppets but would have little use after a failed deal. They must see the writing on the wall if they don’t deliver the deal? That’s why they can’t afford to fail and must push for a better offer if the number of acceptances don’t add up. Enough said. Let’s watch it play out?

If and when this offer is rejected I believe the BoD will be forced to resign as they will have failed Gangfeng and will have lost credibility with the majority of shareholders. Plan B for Gangfeng would be to strive for majority ownership (51%+), appoint there own board members and bide their time. That would give them the control they want over the lithium which I would imagine is their prime objective.

I feel that many underestimate the strength of our position as shareholders and overestimate Ganfeng’s strength. We are not in some fight with the Chinese government over territorial reunification. This is a piece of commercial opportunism and as such can and should be resisted on principle and practice. Gangfeng wants to own the lithium market but that comes at a cost and this deal is well below any measure of market value. They must be made to increase the offer. Having sought approval for a bid they will look pretty stupid if they don’t succeed. That in my mind is the weakness of their position. They have to make an offer that succeeds and unless shareholders capitulate, largely due to underestimating their strength, that offer has to be vastly improved to be considered fair. Like many others I am rejecting the current offer.

I note that Vulcan Energy has signed a binding lithium offtake agreement with Umicore in Poland. Umicore has built the first cathode materials plant in Europe. The plant is expected to start production around year end of 2021 and the materials that will be produced in Nysa will be sold to battery cell makers who produce the batteries for electric vehicles.
DA better get motoring if his plan for European leadership is to come true?

Great expectations of lab results?

Relax Tony, Osaka is no more Japanese than you are an Indian curry!

The value of the Moz mineral sands asset will be realised by Rio Tinto anytime between now and 50 years hence. The value to SAV will be realised when we sell our share of it to Rio or a third party anytime between now and the next year or so. As mentioned above SAV has been evaluating opportunities so hopefully we will be cashed up sooner rather than later.

Always the optimist! And why not?