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After the Luna Lithium Battery company announced leaving Sonora to relocate its investment in the State of Mexico, arguing that the state government was late in the procedures to locate the investment, the head of the Economy Margarita Vélez de la Rocha clarified that this company failed to comply with the requirements to invest by not delivering documents in a timely manner.
https://www.critica.com.mx/vernoticias1.php?artid=103139&mas=18
KM recently stated that Ganfeng are wanting further assurances from the Govt.
The PRC’s role in Mexico’s lithium sector is both newer and more significant than that in traditional mining and is integrated with the PRC’s previously mentioned position in the EV value in both Mexico and other parts of the region.
In 2022, the PRC-based mining company Ganfeng paid $264 million to complete the acquisition of the Bacanora lithium field in the Sonora desert. Bacanora is a complement to PRC lithium extraction and processing operations in Bolivia, Chile, and Argentina, and will help supply Chinese car manufacturers, as well as the U.S.-based EV maker Tesla. In 2022, however, AMLO’s announcement of his intention to “nationalize” the lithium sector raised doubts about the security of Ganfeng’s position, although the Mexican government subsequently declared its intention to respect Ganfeng’s existing concession if it passes state regulatory reviews. Given the paucity of non-Chinese lithium extractors in Mexico, however, the Mexican government’s move raises the prospect that Ganfeng could become the sole nonstate lithium miner in Mexico, making Bacanora even more valuable if Mexico’s attempts to develop the sector in other areas are not successful.
https://dialogo-americas.com/articles/mexicos-engagement-with-china-and-choices-for-its-future/
The BOD of BHL released a RNS today stating that they thought their SP was undervalued and and possible reasonings....the market reacts positively.
KM has been actively on the offensive stating we are undervalued etc...the markets says meh.
That's correct TC, but the DFS will not be started until the Licences are complete as stated in the presentation. How much can we improve on the 3 year time frame (for a Greenfield op)? How far along are we? He wouldn't give an answer...just asap.
KM on Stockbox.
https://youtu.be/G_hsjMjB0XQ
As an investment co they should have divested BCN going into their DFS and EMH going into their PFS, I stated it at the time and it's what I did. KM single handedly tanked BCN's sp when he publicly said they were raising at 25p lol.
Indeed @Bannor...
@EV...Andrew Suckling 8 years, Donald Strang 10 years, Adrian Fairbourn 10 years and Kiran Morzaria 12 years. To judge them on Amapa alone begs the question what have they been doing prior to 4 years ago?
Why not judge them on Clancy or San Luis or on what they say and then renege or how LTH's were diluted to build the following stakes with no reward 🤷♂️.
20% of all Cinovec now 6.5% of 49% of it.
20% of BCN to 0%.
20% of MIO to 0%.
How long will it take them to sell our current listed stakes once the holding periods are up...To pay debts, keep the lights on, new investments etc.
LTH's will know the market never understood the value in our minority JV with Hastings, the market never understood the value of our minority JV with BCN....despite management seeing / stating they were worth 200M each. Will they see value in our minority owned JV in Amapa?
I've no doubt this will spike at some point, but from what low?
Initial reported itinerary for AMLO's visit....
https://www.elimparcial.com/sonora/sonora/Confirma-AMLO-visita-a-Sonora-20230705-0001.html
Well the reaction to our very good pfs proves different doesn't it? Which is why I posed the question over a year ago regarding the strategy and letting the pfs decide.
Also I'm aware if the 50/50 control which I put in my post over a year ago.
"Now Amapa where we are a minority JV owner and a 50/50 operator. Is this strategy enough for the market to re-rate us?... The PFS in July will guide."
No point missed, what I posted were the words of KM. Based on feedback from institutions etc he believed the best way forward for us was to be an owner / operator...not more of the same....minority JV partners. But here we are.
HAS...we are shareholders...Not, master of own destiny.
EG1...we are shareholders...Not, master of own destiny.
EMH...we are shareholders...Not, master of own destiny.
The strategic change KM referred to being the master of our own destiny, was becoming the 100% owner operator of St Luis which would change our designation from an Investment company to an Operator.
Didn't last long however and they backtracked to a minority JV partnership in Amapa. Knowing how the market valued our minority owned JV's at the time yet he's surprised at the market reaction to what is avery good pfs.