Member Info for EV_Bull

More good news for one of our JV projects, they are all moving up the value curve.

@Bridgedogg1 The TLDR;
Equity Holdings ~£13m
Private holdings (conservatively valued)
Amapa 20%/27%/49% of $660m (based on Anglo's valuation) NPV likely to be much higher.
Sonora >(£20m low end estimate)
Yangibana (2% of HAS market cap is 4.5m)
LT/LS worth over £0.5m based on CCZ deal

very low end £90m (60p/share)
High end valuing the 49% ownership at £439M 300p/share

go figure.
I'm fully loaded :-)

2 weeks

Yes I agree jam2morrow, I did actually read through the court filings for the royalty and the contested concessions were only a fraction of the whole thing (the size in hectares was given). I think it is a fair assumption that the areas not mentioned do not have royalties over them.

Just to follow up / correct myself on my Sonora royalty post, I now understand it properly:
Ganfeng owns 50% of Sonora Lithium Ltd which owns 100% of Bacanora Minerals Limited, so the "Bacanora Minerals Limited" proportion also includes Ganfeng's ownership (but not Cadence's).

So the royalty covers Ganfeng/BCN but not Cadence

I have re-read and I understand now, my mistake:
Ganfeng owns 50% of Sonora Lithium Ltd which owns 100% of Bacanora Minerals Limited

The disputed royalty is over Bacanora Minerals Limited which owns the La Ventana claims and 70% of the other claims (the other (30%) belonging to Cadence Minerals which do not have royalties on them)

"Prior to the investments by Ganfeng, the Group performed a reorganisation in which Sonora Lithium Limited purchased Bacanora Lithium Plc's 100% shareholding in Bacanora Minerals Limited in order to create a single project holding company."
https://www.investegate.co.uk/bacanora-lithium-plc/rns/final-results/201910210700074637Q/

It does, but that is totally inconsistent with this statement:
"Royalty applies in proportion to Bacanora Minerals Limited (Canada) ownership of the concessions"
What about the 50% of the Sonora Lithium project that Ganfeng own, the question is which part is wrong in essence? Ganfeng own 50% of La Ventana.

I think with any undervalued company a takeover offer is always a possibility, I would say, see where we are post 20% news as it could well light the firework, if it doesn't take off as expected then I expect a buyout then becomes a possibility, but I'd expect that to be at a substantial premium to the SP.

Re-reading the Sonora royalty deal it would appear it is only in relation to the BCN portions (not Ganfeng or Cadence's portion), so $52m for 3% of 50% attributable to BCN. I wonder if Ganfeng will find a loophole to avoid it.

Key phrase "The Royalty applies in proportion to Bacanora Minerals Limited (Canada) ownership of the concessions"

The BCN holdings were 50% of La Ventana and 35% of the other areas, so it appears to me the royalty only covers those portions.

https://www.londonstockexchange.com/news-article/TRR/trident-secures-right-over-sonora-lithium-royalty/15303929

Details of the Sonora Gross Royalty

The key terms of the Royalty are as follows:

· A gross royalty on all mineral products generated at the mine of 3% (for an effective royalty of 1.5% attributable to Trident), payable quarterly in arrears.

· The Royalty applies in proportion to Bacanora Minerals Limited (Canada) ownership of the concessions comprising the Sonora project, including to La Ventana (Concession No. 235611), Buenavista (Concession No. 235613), El Sauz (Concession No. 235614), and San Gabriel (Concession No. 235816), as well as a 5km area of interest.

Re-reading the trident royalty deal it would appear it is only in relation to the BCN portions (not Ganfeng or Cadence's portion), so $52m for 3% of 50% attributable to BCN. I wonder if Ganfeng will find a loophole to avoid it.

Key phrase "The Royalty applies in proportion to Bacanora Minerals Limited (Canada) ownership of the concessions"

https://www.londonstockexchange.com/news-article/TRR/trident-secures-right-over-sonora-lithium-royalty/15303929

Details of the Sonora Gross Royalty

The key terms of the Royalty are as follows:

· A gross royalty on all mineral products generated at the mine of 3% (for an effective royalty of 1.5% attributable to Trident), payable quarterly in arrears.

· The Royalty applies in proportion to Bacanora Minerals Limited (Canada) ownership of the concessions comprising the Sonora project, including to La Ventana (Concession No. 235611), Buenavista (Concession No. 235613), El Sauz (Concession No. 235614), and San Gabriel (Concession No. 235816), as well as a 5km area of interest.

Indeed hangman with a K as I said Tuesday, none of you got it though, too obtuse?

9277632

Next one is here by the way:
https://www.marinetraffic.com/en/ais/home/centerx:-48.703/centery:-1.520/zoom:12

I have an account but don’t usually tweet, I am more active on Reddit though. Barksy found it though haha.

Crazy to see people giving their shares away at this price.
DCE futures ended up 7.59%, Amapa deal done within the next week or two.

Cadence is Insanely cheap at £38m when you look and compare to early exploration company Bradda Head Lithium at £49m.

Yes it's an interesting deal, maybe it will encourage Ganfeng to buy our JV from us and mine in the areas not covered by royalties (if they lose the court case appeal)

This deal serves to highlight how undervalued we are at present.

That is without considering Ganfeng scaling it up, which would make a massive difference to the percentage from the JV area.

Around 4%