Member Info for Dee12345

@nomadicinvestor

Granted, it happens. But why should we sit idly by?

I would disagree about the content - We're certainly being taken seriously.

3 articles in The Telegraph, 1 in The Daily Mail, picked up on Bloomberg Terminals, Traders' Cafe Podcast, meeting with the CEO, raised by Lord Leet, raised by Julian Lewis MP, and thus far - Nobody has called us crazy or unreasonable.

This was laughed at from day one, until people realised that we weren't just moaning on a board, but taking action.

And we will continue to do so. It's not the time to change tact, because what we're asking for is not at all unreasonable.

Furthermore, whatever you ask for, you tend to get less.

The media coverage has been positive, and we have more news to come. We're already in talks with a well-known investigative journalist that disseminates work internationally.

We still have MORE to come. None of the coverage has painted us out to be unreasonable or loony.

We have been professional from the beginning, and shall remain so.

It's also worth bearing in mind that there are two elements here - Both the price, and the geo-political implications of a takeover.

It would be unwise to ignore either.

The link is blocked, but it's a Vox Markets Podcast - Sunday Roasts

You can also search "Traders' Cafe" on Spotify.

https://www.**********.co.uk/articles/traders-cafe-with-zak-mir-sunday-roast-extra-on-bacanora-lithium-c17ca85/

Have a listen, guys!

Would you like to discuss the chemistry over a video call?

@tomcat

If you feel we're missing a step, feel free to say - We're always open to better ideas.

I know there's a few who want to do something regarding the AGM, so do keeping touch!

Such basic questions for someone who purports to have such knowledge about this company/project.

I guess you've just exposed yourself without realising.

19 years is for La Ventana, which is ONE concession. Not all of Sonora.

Secker stated the scalability. But I shan't be spoon-feeding the information to you.

@Bonkers - I fully agree it's a long shot, but we have a few more tricks up our sleeve to still pull out. That being said, whether we have a 0.01% or a 99.9% chance of success, we still have nothing to lose, and everything to gain.

@tomcat - Considering the nature of the conversation we had, there's not much point in us expending energy on the AGM. I'm wary about fatigue, and pacing ourselves (particularly the energy of the larger group of shareholders) to ensure we don't run out of steam. The question remains, besides voicing our opinion against this (which we have done), what is there to be achieved? We can easy mobilise everyone against the offer, but I'd rather not mentally tire people by targeting the AGM. That being said, having a couple of the members attend wouldn't be a bad idea - Solely for the purpose of keeping tabs.

@jam2morrow - It's still difficult to get a response out of a lot of them. We feel Janus Henderson and the other who bought in after February will be more likely to sell, but we're still awaiting feedback from M&G and Hanwa. The shareholders' registry will give us a good opportunity next week - Particularly with those who don't read boards etc.

I fully concur, that the mere fact that they were willing to speak to us shows that we have a chance (albeit a slim one) to scupper this deal.

Personally, I always felt we had a chance from the moment my inbox was being flooded with like minded individuals. Look at the messages from two weeks ago, and look where we are now. Nobody thought we could get this far. But we're going to go even further.

Phases 2 and 3 of the email campaign are nearly ready, our full presentation is nearly ready, and we're making serious in-roads with certain places of influence.

We're also going to start a share-buying campaign. The more we own, the better.

We have a special podcast coming out, new media contacts are being forged, and the emails just keep coming in. Everyone who emailed from Tuesday onwards, only received a reply from me last night.

This has become more than an LSE Board campaign, it's a campaign for everyone who has invested in this.

And I still urge you all to email: saveBCN@protonmail.com

Small shareholder or large, it DOES make a difference. We've seen this already.

It's likely they need the money to accelerate the scaling up of Sonora.

They can just start the entire project off at 100,000 Tonnes, if they choose to.

But it's also likely being raised to fund future "JVs"

Jarthur it's SaveBCN@protonmail.com

Other messages, I'll try replying when I'm free!

I also made it clear, that it looks as though Bacanora got played.

And just because you got played, it doesn't mean you must continue to be played.

The past is the past, and we all make mistakes. It's what we do, and how we respond from here that counts.

I can't really say too much, but suffice to say, we now know how to fine-tune our campaign.

It was with M&A at Peel Hunt for regulatory purposes, and Peter Secker.

Main/Most points covered were:

1. Justify your valuation. I made clear our DCF model prices, as well as the variation to differing models. I don't see the NPV calculated in 2019 as a legitimate or relevant model to utilise in a takeover. But if that's the model, then there's a huge disparity between NPV0 at $3.4 Billion, NPV8 at $1.2 Billion and an offer at $267 Million with a net cash payment of $62 Million USD. (I kept having to correct myself by saying 'possible' offer, and I physically hyphened it at times!) He also countered that they have done analyses, which factor in various factors such as macro and political factors. I stated I looked forward to seeing them upon any formal offer.

2. We voiced displeasure at the current share price, the derisory offer, and the language/tone used in the RNS.

3. We explained how easy it was to unite so many shareholders. Nothing to do with me, but to do with the situation.

4. We stated our demands, which I will post in full, here.

5. How to move forward. How to work together.

6. Why we have so much unrealised leverage over Ganfeng. They have their off-take agreements, and the Lithium squeeze is coming. If they want this, they will want it now for the above reasons. Sonora is scalable to 100,000 Tonnes +

7. There's over $120 Million in cash on the books. This makes Ganfeng's net payment for the project circa $62 Million USD.

8. I mentioned a few conspiracy theories a few members of 'Think BIG' have been considering.

9. We made clear our opposition isn't to him personally, but the takeover itself.

10. LTH's who bought from IPO

A lot was more a case of voicing, as it wasn't possible for him to retort based on takeover deals.

Ganfeng's initial approach was made after the share placing in February (IMO), as I was told that they made an approach 'within the rules of the takeover code' - So that would assume it was first broached after February.

I made it clear, that Ganfeng are passing the buck on BCN, judging by their recent circular. They referred to it as a 'quotation provided by Bacanora' - That doesn't sound good.
A lot was us making our points, and probing to ascertain body language. There were only two moments body language changed - And that was enough for us.
It was a pleasant conversation, but I think we both knew what we wanted to get out of it. They wanted to temper our activities, we wanted to probe.
It was reported to the takeover panel, and I assume solely recorded for their benefit.
We've agreed to see what happens as things play out, and as much as this is a 'possible' offer - LTHs see this as an offer.
We agreed to reconvene after a formal offer, and perhaps with more shareholders involved.

All in all, I'm pleased with how it went

We had a zoom meeting with Peter Secker, with Peel Hunt on the line.

I'd describe it as constructive, albeit with a lot that couldn't be responded to due to takeover rules.

That being said, I've made our position clear, and where we stand on various issues.

This campaigns still rolls on, and we are focused and determined to achieve our aims. Most importantly, we're prepared.

We know what this is worth. And we know what we have to do.

If you agree with our aims, you must email: saveBCN@protonmail.com and become a part of this. You can genuinely stop this takeover.

@Dazpink - I've received quite a few emails this morning; will reply back shortly!

@Entee - Can you drop me an email?

@ALGU

If you or any interested shareholder can send us an email declaring the total shares you hold, we can then respond with details on our email campaign.

It's not compulsory to declare your total holdings, but most certainly helpful. Even an email stating you're against the takeover will help!

People, It's still imperative you email: SaveBCN@protonmail.com

I keep getting stragglers emailing. It's NOT too late. You can clearly see our campaign is having a measurable impact, but we still need a lot more of you to join!

Send the email, and be part of this movement!

Defo, but with all the emails, you may need to send me another email :(

@xtw2

Sorry for the slow replies.

I've still not had a chance to go through previous AGM results.

I genuinely feel Secker and Hohnen have let us down, but we need to focus with our heads, and not allow our emotions to conflict us.

1. What does attempting to remove the BoD achieve? It will make us feel good about ourselves, but who else would vote for such a resolution?
a. It WILL see this in development limbo for a while longer.
b. No II would vote for board removal, as it doesn't serve any particular purpose.
c. New Management Team may need years to re-engage with key stakeholders.

2. We want to keep the BoD, and have them actually DO THEIR JOBS. If it proves impossible? We re-assess. But asking for the BoD to resign/be sacked is overplaying our hand. We have a pretty big hand. Bigger than we're letting on. But not big enough to call a motion for the BoD to be sacked, let alone see it succeed.

I feel your pain, we all do - And it's the single driving force that has united so many PI's like never before. But it's imperative we focus on the task at hand. The battle we're facing is against almost insurmountable odds - And look how far we've gotten? People laughed when this was first suggested, and now we're almost at 500 PI's.

Doors are opening for us, and we were even in the Print Edition of The Telegraph today (again). In terms of our strength, I promise you they know of our strength, and they know who we are. My LinkedIn profile views alone tell me that.

That being said, zoom chat on Sunday to discuss AGM strategy?

It's for all of us. We're above 28 Millions shares now, and a lot of people have emailed in due to all the de-ramping.

We now have a good couple of weeks to further solidify and execute our next phases in the campaign - Will be sending out an email update this weekend!

We have a lot more exciting developments taking place. There is a lot unfolding that we can't discuss publicly, but we certainly ARE working our hardest to achieve our goals.

Please email: saveBCN@protonmail.com

If you agree with our aims, you MUST play your part. We're not asking you for much, as there are many of us willing to put in all the hard work and effort. All we ask is you participate in the email campaign we've launched, and declare your total shareholdings.

This offer delay is gifting us a huge advantage - One we're fully utilising.

Ready when you are BorderBob.

Video debate.