Member Info for EV_Bull

https://twitter.com/CadenceMinerals/status/1391647029886078979
-------> "Close to bank creditor settlement" <-------
Spotted on the twitter post.
Bullish.

Yeah, I wouldn’t want to be in the same position as with BCN, can you imagine an offer for 45p when we could soon be over £1. Thing is though it’s probably cheaper for them to buy us out than buy the jv stake from us given the true value is not reflected in the share price yet. That could all change tomorrow though.

@165zephyr
Have you accounted for the $31m to be recieved by Bacanora which should increase market cap by that amount?
"53,333,333 new Bacanora Shares at the placing price of 45p per share, representing gross proceeds of approximately US$31 million" (£22.18m)
Would that make it the following?:
£223.2M+£22.18m / 384M = 63.9p

@jam2morrow thanks for the response I agree with what you have said. M&G clearly hold most of the cards as far as voting it down perhaps the news will bring more interest to the project to see it achieve a higher value? Like most I was planning to hold for this to be in production and expected a 3-5x increase in SP.

I don't personally have any faith in the CEO so it will be interesting to see how he responds (if at all) and if M&G are in favour.
The crux of it is there people don't want to invest in BCN. It is only worth what someone else is willing to pay, and at the moment the one willing to pay the most is Ganfeng. I am just not sure what a fair price today really is and nobody seems to offer one with solid numbers to back it up given it was trading at 40-45p for months you can't blame Ganfeng for making this offer and of course shareholders have every right to reject it if it really is a p155 take. Of course this will be worth far more when scaled up to 100t and is in full production but that is still 2-3 years from now.

People do not seem to realise that Ganfeng were already in control with 50% of the JV and 30% ownership of BCN. BCN was the puppet really.
For me It comes back to why the market lost interest and this was in 40-45p range for a long time prior to the offer.
Is the Chinese factor clouding judgements and would people feel different if this was Albermarle not Ganfeng?
Waiting 2 years for the SP to be £1 you have to discount that back to today at a fair risk premium of say 15%
£1 in 2 years is therefore 75p today (59p at 30%)
£2 in 2 years is £1.50 (£1.18 at 30%)
This is what it boils down to for me.
@MLQ yes to the 2 years behind

Just posted on BCN but here are my thoughts on the deal:
I think some are failing to remember that investing involves risk. And the same two statements are cropping up.
1. “If 67p is guaranteed then why isn’t everyone buying” – it’s a “Possible Offer” not a done deal you are not taking in to account the risk of the deal falling through.
2. “This is a terrible deal BCN is worth way more”
Those asking #2 what do you believe the company is worth today and why is it so massively undervalued and disliked by the market?
My answer would be that there are several risks that justify a somewhat lower share price:

Jurisdiction risk – mostly political (e.g nationalisation) and crime related mexico’s reputation for cartels etc.
Project risk - construction problems or over budget
Price risk – future lithium prices are uncertain (although predicted to go higher)
Confidence in CEO to execute
Other risks
I would be interested to hear what you all believe a fair value is for buying BCN outright today (with proper reasoning taking in to account these risks) because the market had decided 45p was correct – why was the market so wrong on this?
FYI: I bought in at 44p after the raise as I thought it was a fair trade-off for the above risks given that it was fully funded.

I think some are failing to remember that investing involves risk. And the same two statements are cropping up.
1. “If 67p is guaranteed then why isn’t everyone buying” – it’s a “Possible Offer” not a done deal you are not taking in to account the risk of the deal falling through.
2. “This is a terrible deal BCN is worth way more”
Those asking #2 what do you believe the company is worth today and why is it so massively undervalued and disliked by the market?
My answer would be that there are several risks that justify a somewhat lower share price:

Jurisdiction risk – mostly political (e.g nationalisation) and crime related mexico’s reputation for cartels etc.
Project risk - construction problems or over budget
Price risk – future lithium prices are uncertain (although predicted to go higher)
Confidence in CEO to execute
Other risks
I would be interested to hear what you all believe a fair value is for buying BCN outright today (with proper reasoning taking in to account these risks) because the market had decided 45p was correct – why was the market so wrong on this?
FYI: I bought in at 44p after the raise as I thought it was a fair trade-off for the above risks given that it was fully funded.

Medi Brisbane confirmed for Dev! site is now updated, departing tomorrow.
http://www.docasdesantana.com.br/index.php/operacional/programacao-de-navios#navios-cais-1

Medi Brisbane 05 / may 08 / may Mindelo Qingdao DEV Norte Trading LBH Ore 45,000,000

Appologies I thought I was posting on KDNC....
but I would just add that EMH's Cinovec is a massive resource, much bigger than ZNWD so I doubt EMH would have any interest in buying it. The only benefit I can see would be sharing a Hydroxide plant?

None of this relates to Cadence other than EMH being next door, why not discuss it over on the ZNWD or BCN boards?

FYI: https://twitter.com/DavidLenigas/status/1390271879701749760
David Lenigas
@DavidLenigas
Amazing for @CadenceMinerals
- Bacanora being potential cash bid by Gangfeng at 67.5p a share. I started this whole venture at Sonora. So chuffed. Cadence own about 30% of about 70% of this massive Sonora #Lithium deposit. Now 800lb gorilla partner.#KDNC
12:47 PM · May 6, 2021·

Surely you'd be looking at Cadence Minerals (KDNC) with a 30% interest in most of the sonora concessions here, not to mention rare earths and a potential 27% of a $1bn Iron ore projects with only a £42m market cap and strong multi-bag potential!
https://www.cadenceminerals.com/projects/sonora-lithium-project/

Yes, you can see Ganfeng are trying to swallow BCN now on the cheap before the project is built and the output increased, smart move by them.
No doubt the "accelerated efforts" increase the value of the Cadence JV portion too as it will be needed sooner. Like I say surprised Cadence hasn't had a similar offer yet given it's so low market cap and China also looking to corner the rare-earths market. This is really starting to heat up but I feel it's just the beginning.

I would question why the UK gov would be too bothered about blocking a deal for a Mexican Lithium project, none of which was directly destined for consumption in the UK.
There are plenty of Lithium resources in the UK, EU, US and Australia.
Rare earth magnets cobalt, possibly nickel yes.

Amazing to me that cadence haven’t had a buyout offer yet given the low market cap. Perhaps that will be next.

Great news, especially for those like myself with some BCN shares, surely they'd also be looking to mop the rest up by buying our JV stake.

I did wonder if they went bigger to reach the $10m net total as it may have been pretty close with another 45t to the $10m. Kiran did say 2 to 3 shipments.

So a full 20 days ahead of schedule and 3 days ahead of even the latest port schedule. They really are going for it.
Hopefully this puts the banks feet to the fire!

https://www.conexaomineral.com.br/noticia/2044/administradora-judicial-da-dev-zamin-kpmg-convoca-ex-funcionarios-da-mineradora-para-pagamento-de-dividas.html
KPMG, responsible for the judicial recovery of DEV Mineração (formerly Zamin), seeks bank details of the company's former employees and local businessmen, so that the judge in the case authorizes the payment of credits owed to them. For this, they need to access the KPMG website and submit bank information for payment to be made.