Member Info for degsie

Lithium growth continues to be driven by accelerated demand for EVs. 2017 sales of plug in and pure EVs were up 56% yoy. First half of 2018 up 90% vs prior year.
Major cathode and battery manufacturers have reported yoy sales growth of 21-25%.
"Our customers and our customers' customers continue to invest for future growth in a manner that is consistent with the ALB demand model"

Ivybush is right; attend AGM if you can and there is also a webcast on 17th see below. Submit questions before or as it is broadcast.

Event:
Cadence Minerals - Question and Answer Session
Date:
Friday, August 17th 2018
Time:
10:00 am

DD. Do you know that there are 35000 GPs and 300000 accountants in UK more than in rest of EU and I am one of them and a pretty useless bunch we are; Carillion.? I might be right about directors ' remuneration but more importantly am I right in thinking KDNC is a bargain at this price?

DD. If maddog agrees with you ????

On page 24 of 2016 accounts-statement of cash flow- £717k is shown as equity settled share based payment and is added to cash in. The share based payments are a charge against profits but based on valuation of options and as it states are not paid in cash

DD. I think it clearly states that share based payments represent a Black and Scholes valuation of incentive options granted during year. I think we must agree to disagree. Might see you at AGM?

DD. I don't understand problem. The report says £716000 is valuation of share options and is not paid in cash. KM did mention salary reductions shortly after AGM but I cannot recall where and when. A question for the webcast on 17th?

DD. Look at page 13 of 2016 accounts and page14 of 2017 accounts.Read note below summary of remuneration.

DD . To conclude
The value of share based payments in 2016 was £716400 and in 2017 was £2245.
Note from accounts
Share based payments represent a Black and Scholes valuation of the incentive options granted to the
directors during the year. Options are used to incentivise directors and are a non-cash form of
remuneration.
These are not cash payments and are only of value if options vest.

It is clearer if you refer to notice of AGM for 2017

DD. My error . This is a copy of resolution passed at last AGM detailing options cancelled and granted.
1. NEW OPTIONS
1.1 Subject to: the passing of resolution 6 at the 2017 Annual General Meeting of the Company;
the achievement of the vesting conditions set out in clause 3 below and the performance conditions
as set out in this clause 1.1 being satisfied the Company grants to the option holders specified below
(“Option Holders”) an option to subscribe for Ordinary Shares as follows (the “New Options”):
Option
Holder
New Options
Vesting if VWAP
(greater than or
equal to) 0.92p on
Vesting Date
New Options
Vesting if VWAP
(greater than or
equal to) 1.82p on
Vesting Date
New Options
Vesting if VWAP
(greater than or
equal to) 2.18p on
Vesting Date
Total New
Options
Vesting
A.Suckling 815,217 412,088 1,376,147 2,603,452
K.Morzaria 815,217 412,088 1,376,147 2,603,452
D.Strang 815,217 412,088 1,376,147 2,603,452
A.Fairbourn 353,261 178,571 596,330 1,128,163
2. REPLACEMENT OPTIONS
2.1 Subject to: the passing of resolution 6 at the 2017 Annual General Meeting of the Company
the three hundred million options issued to the Directors on the 1 July 2016 will be cancelled and the
replacement options set out in this clause 2.1 shall be granted to the Option Holders subject to the
achievement of the vesting conditions set out in clause 3 below and the performance conditions as
set out in this clause 2.1 being satisfied (the “Replacement Options”):
Option
Holder
Replacement
Options Vesting if
VWAP (greater
than or equal to)
0.92p on Vesting
Date
Replacement
Options Vesting if
VWAP (greater
than or equal to)
1.82p on Vesting
Date
Replacement
Options Vesting if
VWAP (greater
than or equal to)
2.18p on Vesting
Date
Total
Replacement
Options
Vesting
A.Suckling 10,434,783 15,164,835 63,853,211 89,452,829
K.Morzaria 5,217,391 7,582,418 31,926,606 44,726,414
D.Strang 5,217,391 7,582,418 31,926,606 44,726,414
A.Fairbourn 5,217,391 7,582,418 31,926,606 44,726,414
3. VESTING CONDITIONS FOR OPTIONS
3.1 The New Options and the Replacement Options may only be exercised by the Option Holder
after the date (“Vesting Date”) being the earlier of 18 months from the date the New Options and the
Replacement Options are granted to the Option Holders or the date the Option Holder leaves as a
Good Leaver as defined in the option deed granting the options (which is available for inspection at
the offices of the Company until the conclusion of the 2017 Annual General Meeting of the Company)

DD. I think we are agreeing; 300m options cancelled and 716m granted at various prices but they vest in February and expire after that date.

I've followed link in RNS that states Notice of AGM will shortly be available on company's website but no joy. Where have you found AGM notice?

But the vesting date is next February at prices up to 2.18p

If you check AGM records the directors waived some very undemanding options for options that expire next February with higher target prices, the highest being 2.18p per share.

I have said before I think the biggest failure of board is a failure to communicate.KM is the only director to make presentations or respond to emails and even then there is a failure to "fill in the gaps". I am very puzzled as to the value of JVs with BCN and Hastings and find it difficult to think KDNC entered into these without some way out to realise value.The explanations we have been given as to dealings with BCN have been less than helpful; KM has always said he was not involved as he was a director of BCN but the chairman could have said more.
The deals with San Luis and Zulu look promising and at this stage there is no commitment; cash for San Luis if it proceeds is £1m with balance in shares; cash for Zulu would be $5.1m in 5 stages.
There has been good news from Hastings but I don't know benefit to KDNC. MMS and Auroch seem to have great potential.
The presentation from Keith Coughlan of EMH yesterday was very positive although there is a slight doubt about relationship with Czech government and the news release from BCN was also reassuring and this is being followed up with a conference call with Peter Secker next Monday.
The company -presumably KM- is making a live webinar on August 17th - questions invited- and the AGM in on August 28th.
Finally; I don't think the BOD are idiots and they only win big if we all do.

See link below

http://bacanoralithium.com/cms/wp-content/uploads/2018/08/bcn-presentation-august-2018.pdf

Page 20. NPV $1.253billion EBITDA $229million

Fevertree was last year's buy. Current p/e is 79. Britvic p/e 20.

Interview about BCN and KDNC from about 10 minutes in for about 10 minutes. Very positive.

https://voxmarkets.co.uk/blogs/landore-resources-lnd-alan-green-great-portland-estates-gpor/

Volkswagen is ditching diesel in Australia [1]

This news is a really big development that shows VW is on the back foot. Let's capitalise on this moment right now and push VW to axe diesel cars everywhere – so we all can breathe cleaner, safer air.

Simon Moores

https://investingnews.com/daily/resource-investing/energy-investing/lithium-investing/simon-moores-challenges-opportunities-lithium-market/?mqsc=E3978269