Member Info for degsie

As the options were subsequently waived there is no expense to shareholders. The replacement options had more demanding targer prices and were of little value when issued.

Directors salaries and fees in 2016 and 2017 were £498K and £535K.
In addition to the monthly purchases of shares to a value £4000 DS and KM purchased shares as folows.
13/12/17 BUY Donald Strang FD 3,000,000 @ 0.31p £9,300
12/12/17 BUY Kiran Morzaria CEO 3,508,772 @ 0.29p £10,175
12/12/17 BUY Donald Strang FD 3,182,011 @ 0.27p £8,591

Bannor. We can't and don't know what is going on behind the scenes. When KM replied to me he apologised for delay and said he'd been busy. The funding for BCN will be sorted shortly and the political cloud over EMH should be resoolved any time now. There is value in JVs and perhaps deals can be done with the partners. I do think MMS could be the surprise; an independent researcher, R B Milestone, highlighted a feasability study that put a high value on iron ore interests.

I asked KM to clarify deal to acquire San Luis and he replied
"to increase our stake from 4 % to 24 % in the San Luis lithium assets we will issue 152,846,308 cadence shares and a further 673,076,923 shares to increase stake from 49% to 100% the latter is our option.

At the time of the announcement this amount of shares was worth £0.4 million and £1.75 million respectively"

The SBP of £700k are in 2016 accounts. I don't recall KM saying salaries had been reduced in 2017 but he say reduced in current year.

The SBP from 2016 were waived and replaced with options that were approved at AGM in 2017. The replacement options are far more challenging and have to meet target prices below by Feb 2019. Note 1 - Only vest if VWAP is greater or equal to 0.92p on vesting date Note 2 - Only vest if VWAP is greater or equal to 1.82p on vesting date Note 3 - Only vest if VWAP is greater or equal to 2.18p on vesting date

The share based payments are confusing, these are down from £700k to £2k.

Following the announcement earlier in the week regarding the new, bigger rig for the Zardab and Muradkhanli which I wrote up briefly on Wednesday I managed to spend some time with the CEO who talked me through the situation in the field. I have visited the operations within the last year and whilst the challenges have been significant there is little doubt that they are being met head on. With the bringing in of a much bigger rig, which will in all likelihood start to clear up the most important wells at Z-21, Z-28, Z-3 and then at MOC-1, the chances of opening up even one of these wells would be transformational. The share price seems to reflect only the chance of operational failure whereas should any success occur it must be, with a market cap of less than £10m, at a huge discount to what it should be remembered are 2P reserves of 31.7 mmbo in Azerbaijan and 16.4 bcf in Italy. The 1/- b/d target in Azerbaijan is not unreasonable and with costs of $19 a barrel would be highly profitable and the company is worth watching.

Ivy. I was at AGM last year and found it well worthwhile. Apart from the info provided at meeting there was an opportunity to talk to directors and other shareholders. I've met Kiran since- I had nearly an hour with him at Master Investor Show in March - and I find him positive and honest. He is careful about "insider info" but overall optimistic. The funding for BCN should be sorted shortly and there should be a Czech government in place to approve- I hope- the Cinovec project for EMH.

Ivybush. KDNC is suffering from the uncertainty over EMH because of lack of Czech government, KC seems reasonably confident , and the delay in funding BCN, PS is very positive. In addition good news from San Luis and Auroch this week. The podcast summed up KDNC very well.The pessimists should listen.

Link to podcast, Start listening at about 26 minutes for 5 minutes http://www.sharepickers.com/powerhouse-energy-phe-goldstone-resources-grl-and-alan-green-on-kdnc-ctea-w7l-bon-adl/

3 hours ago | Angela East American researchers think they have found a way to make lithium ion batteries last longer — and the change requires extra cobalt. The advancement is good news for battery metals suppliers because lithium ion batteries are made up of several commodities besides lithium, including graphite, cobalt and nickel. It is also good news for players in the clean energy space because grid-scale energy storage requires batteries that can store a large amount of energy and roll it out over longer periods. https://stockhead.com.au/resources/scientists-find-way-to-make-lithium-ion-batteries-last-longer-and-it-requires-more-cobalt/

Solar PV capacity is set to grow 17-fold, and wind six-fold, by 2050, to account for nearly half of global electricity generation, predicts BNEF, while investments will reach US$11.5 trillion. Cost reductions will drive this charge, particularly in the battery market, which will benefit from the EV manufacturing ramp up. Despite this, the electricity sector is still failing to bring CO₂ emissions down to the required levels, with its continued dependence on gas. https://us13.campaign-archive.com/?e=dc0867ed7c&u=2790e780a1533f4bc05c8679a&id=aa17424787

Our latest forecast shows sales of electric vehicles (EVs) increasing from a record 1.1 million worldwide in 2017, to 11 million in 2025 and then surging to 30 million in 2030 as they become cheaper to make than internal combustion engine (ICE) cars. Link to full report http://app.c.bloomberg.com/e/es.aspx?s=522772699&e=484695&elqTrackId=ff12ddd226f94fab8d68e74a62da2fdf&elq=2dfa634968254ccf8d0872faab2f4bba&elqaid=12908&elqat=1

In addition to regular monthly purchases KM & DS bought 9.69m shares at prices from 0.27 to 0.30 in December.

http://icebergshares.blogspot.com/2018/06/savannah-resources-v-bacanora-lithium.html?m=1

In Europe the most notable one this year has been European Metals Holdings. This company was progressing the Cinovec Lithium Project in Czech Republic until the government tried to take it away from them in late 2017/early 2018. However, the company seems to have gotten past those issues, recently commencing pilot plant operations. So as of right now, the largest European lithium deposit is controlled by an Australian company.

A very comprehensive and interesting article. I show below a couple of extracts Wind of change blows through Europe’s power sector Falling cost of renewables sparks deals as traditional operators look for foothold The increasing digitisation, continuing growth of renewables generation and advances in battery storage mean more consumers will start to generate their own energy — and rely less on a centralised transmission network.

News from either BCN or EMH and we'd be off to the races.

Simon Moores: We�re in the Midst of a Global Battery Arms Race June 11, 2018 The Investing News Network sat down with Simon Moores of Benchmark Mineral Intelligence to talk about the future of lithium-ion megafactories, lithium prices and what�s ahead for the sector. Read More → http://reply.investingnews.com/dm?id=241F810A5C560901F808C21618368EF74E0B9F082FD50CDF