Just musing…
We couldn't get a mining JV agreement with BCN do you think the chinese will be forthcoming?
Did Ganfeng halt our JV "mining" negotiations with BCN?
Do you think Ganfeng will even want a JV mining agreement? I think they'll want 100%.
Do you think they will try and put us to the sword if we don't accept their low ball offer?
Can you see the JV exploration areas being disbanded and divvied up (not unlike a divorce settlement)....leaving us with areas covering 1900ha of JV1 and 26750ha of JV2 attributable to KDNC.
Bearing in mind there is a non compete agreement in place which stops us doing anything with it for 2 years if we cease to be a shareholder in Mexilit and Megalit.
Yes it does. From BCN's admission document....
"Under the terms of REM Agreement 1 and REM Agreement 2, REM has the conditional right to negotiate to acquire up to 49.9% of Mexilit and Megalit. There is a 3% royalty in favor of Colin Orr-Ewing on all of the concessions."
Morning @Obs and yes your correct, but the £2.5M he refers to was our total outlay for all of JV1. And if it is 'potentially' worth $30M, seems he'd be happy with the return lol ;-)
But as I posted in May, IMHO we've already accepted an offer under NDA with the proviso that BCN accept the offer proposed to them. For the actual figure we're interested in...watch this space, I guess ;-)
https://drive.google.com/file/d/1w4Z2AJheQo2beS_b6yyRcby31ZmZvBv-/view?usp=sharing
Yes @Barksy, that was DL rolling the dice trying to get JV1 into BCN's production plans...BCN's acknowledgement and rebuttal basically of our scoping study is here...https://www.investegate.co.uk/bacanora-minerals-ld--bcn-/rns/rare-earth-minerals-plc----scoping-study/201412220700124075A/
It did however get a sliver of the JV into the mine plan.
Why cant they divide it up 70/30? I ain't seen anything that say's we are bound to develop the JV 'together'....hence the emphasis KM put on trying to get a Mining JV agreement.
I'm pretty sure Ganfeng will have ways and means plus a few tricks up their sleeve 'if' they don't want us as a minority partner.
That is correct @Ivybush, the current JV agreements are for exploration only, and as a minority partner we effectively have no say in that.
We have been trying to get a Mining JV agreement off BCN for years, will Ganfeng give us one?
Without a mining JV agreement we could end up owning a 30% parcel of land with no means to mine and process it.
Be interesting to see how Ganfeng go about this.
Latest interview KM states...trying to get more than 1 ship a month?
Also RNS of the same day 10/05/21 reads...
"bodes well for DEV's plan to increase the frequency of shipping from CDSA over the coming months".
Ganfeng increasing its 50% interest in Sonora Lithium Limited, the operational holding company for the Sonora Lithium Project, to 100% through the acquisition of the Bacanora Shares that Ganfeng does not already own.