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I’m actually following a few companies that have had massive arbitration awards for having concessions taken from them so is a dangerous game mex gov are playing there.
https://www.africanlawbusiness.com/news/19208-tanzania-ordered-to-pay-usd-109-million-arbitration-award
The Company is pursuing various remedies, including administrative review recourses to challenge the DGM’s resolutions. If necessary, the Group will resort to additional remedies under Mexican or international law. The final outcome of the Company’s exercise of these remedies is subject to uncertainties. The Board will pay active attention to the progress of the
matter and fulfil its information disclosure obligations in a timely manner.
A bit more:
Moreover, the Company’s position is that the resolutions cancelling the concessions violate both Mexican law and international law as they are arbitrary, unsubstantiated in both fact and law, and infringe upon the Company’s and its Subsidiaries’ fundamental due process rights. Therefore, the Company and the Mexican Subsidiaries have filed administrative review recourses before the Secretary of Economy against the aforementioned resolutions.
Https://www.cnbc.com/2023/08/29/a-worldwide-lithium-shortage-could-come-as-soon-as-2025.html
You might want to double check that market cap @Agricore
https://www.asx.com.au/markets/company/eg1
Cadence hold 15,830,136 shares of EG1 at $0.255 = A$4,036,684.68 = £2,097,323
I’m saying if BCN was still trading it would be at a price much lower than the takeout price because of the Mexican government and the uncertainty they have created. Ganfeng can choose to invest in other locations if they don’t get certainty from mex gov why would they invest, yes hopefully this all gets cleared up and of course it has been said the licenses are valid but if I was Ganfeng I’d be investing in Thacker pass and Australian assets unless they get cast iron guarantees. I’d expect a partnership with LitioMx to emerge at some point and maybe that’s our chance to exit the asset for more than our market cap suggests. All speculation at this point.
Https://m.miningweekly.com/article/uk-offers-critical-minerals-opportunities-for-aus-2023-08-23
It all rests on the Amapa outcome so just a wait and see for now...
"Cadence and Its joint venture partners have agreed that the lowest risk and currently best commercial approach to developing this project is to bring on a highly experienced mining operator or EPCM contractor as a joint venture partner, and we are working towards this goal. We currently have three interested parties reviewing the data room in this regard. However, the above strategy does not preclude the option for our joint venture company developing the project or embarking on trade sale of the project."
EMH DFS is also due in Q4 so hopefully that will be a catalyst.
Well yes it would be in exchange for cash directly injected to the company via the IPO essentially a fundraise at the Dev level but I'd think it would need to be enough to fund the equity portion of the construction element so would be valuation dependent.
Our 8.74% of Evergreen (+milestones) is worth more than the 30% is we held prior was due to the listing and fund raise to pay for drilling etc.