Member Info for Fozdog

Dazpink,

Iv refrained from posting as v little left to add, but id think a few things.
1 - Can't sell and won't sell
2 - Want to see what comes of this, there's a fair few scenarios that could help the upside here like ZNWD spun out, rejected at the current SP etc.
3 - Nothing to say it will be only 28th or whatever the new date is that the offer actually comes in (bored of it). News could come earlier even if doubt it! Same time could be extended....I think 3 months tends to be the time lags with Ganfeng/China and BCN so think hard pressed for another extension.

As Panderman said, even if it goes through and its full £290mn so maybe closer to 70p and Znwd spun off its over 20% upside. Don't think that's terrible to wait on and see what eventually comes of it.

Think many PIs been in here long enough will just ride it out as will the II. Don't put your cards on table till you have to.

Hi John, the only thing I can say is I’m not selling! Or voting yes for that matter. However the desire of holding this company with Secker once all of this is resolved is significantly reduced.

Hi John, we are in full agreement the bod are not acting in pi best interests and never have been.
Iv lost all faith here, not a single person or company has stepped in.
Don’t get me wrong I’m not saying they would without a formal bid but as a bod, if it’s wrong value you reject and not delay it.
So any notion the board will go “oh it’s not a good offer” it’s just bs because they have opportunity to stop this now by saying what’s point extending? We won’t take 67.5p.
Every single answer they give “we can’t comment till official-bid” I mean bs again. Just tell them 67.5p doesn't work it’s not hard, but it is for our bod as they want to sell.

As much as Dee is doing and I respect him more than Anyone for it , where is the buying or support past that?

Iv been discussing this share to the tenth degree for what value?
Znwd has done 50% in one week how can you tell me that 3 months since the initial “report” of a bid in bcn is only worth 30% more?

Literally where is the support, where are the ii or the bod? Even more where are the regulators? Don’t get me wrong there’s always some way round this but come on Ian Duncan smith what are you actually doing? Just commentating? Get off your backside and actually submit something.
I get in business you let others put their cards down first but all I ever see is our bod rolling over.

This truly is one of those shares with best in class assets ruined by people In charge.

I have nothing left to say I wish I never had got involved to the degree I did because I cant sell and will stick to my guns out of principle. Unless someone has a compelling plan I just feel canon fodder to the board.

Just totally fed up.

I would just add we are asking for II to reject it why?

I would rather they said nothing to all parties then reject it when the bid is in. Suits us better and gives them no steer at all. Lets give them a break till we actually know they can't tell us anything and they can't/shouldn't be telling the BOD anything.

If they are smart they say nothing till offer on table.

Jam/Mr c the only positive I can try say is that all it does is firm up further the £190mn is coming. It took 3 months to get funds from raise so it makes sense on timing.

Aside from that im wishfully thinking they don't bother with ZNWD and pay the £190mn total and somehow give us ZNWD back.
If thats£190mn = circa 70p plus Znwd then your looking at all in £210mn. So you are actually starting to get 75p+ if that happens.

I actually think ZNWD could rerate to closer to 30p still but whatever our share now is about £20mn so that plus the full £190mn you aren't that far off 80p.

The performance at BCN has been atrocious and we might have a great asset but this is one of the worst performing stocks there is. Its terrible so even if the deal doesn't go through unless its a higher price it just seems incapable of performing.

This should be 60-70p now and the bid spec has actually caused us to underperform. We've been choked at every passage here.

Bampster, my patience is long gone but just going to have to ignore it now.

I still don't understand how this deadline is allowed to be extended, PUSU means that. Bid it with stipulations 'subject to satisfying outward investment criteria' or don't bid it.

Like can we see how the panel and others decided to extend it? In my view its simple now, its offer made subject to completing investment criteria or this should be removed until they've completed that investment process, then they can come back and put offer when ready. I don't see how a company can be locked up for 4-5 months like this.

Even if they come in end of month, how long for shareholder vote? Like it all drags on and on.

its just ridiculous, I bought ZNWD last year in Dec 8-9p for a higher risk strap on than adding more BCN simply because EV market for me looks to speed up.
Imo that 2030 date for all EV cars for eg will be bought way forward & reports about carbon neutral by 2050 are being laughed at. This is all going to speed up.

Since then ZNWD returned me 100%, BCN returned in that period about 10%. Like who owns who? How can it seriously be that bad?

I can't stand anything Secker is attached to now.

Bonkers totally agree & I am feeling the same as you. My arrogance will do the same sit there to bitter end despite other stocks moving freely and much easier elsewhere.

You did John, and I was clearly wrong!

I just struggle to understand how this doesn't have the approvals needed just to put the bid in when you have gone to a China listed stock already for shareholder approval?

I get the outward direct investment that takes several months but that was always a stipulation of the deal.
Even if they put forward 67.5p and China say no 2 months later it breaks down anyway?
So I am really struggling to accept this needed to be delayed. Always seems way doesn't it.

This is a disgrace we need to get onto the panel.

Already coughing and not even started....Nervous!!

Sorry Chris,

it’s not a “failure”’to understand I don’t agree with you they hold all the aces. You have a view I have mine so telling me I don’t understand when I do perfectly doesn't make it correct!!

They hold us over a barrel with a weak bod. You are always under the cosh when on aim with less regulation and a weak bod which we have.

I don’t agree that they will just go slow and act like a petulant child. I place a lot more emphasis on where the licences sit than I do the ownership on the mine. So whilst someone might not step in as of right now there is plenty you can do with the right bod.

They are also subject to lithium demand and processes. Demand goes up they will want to fulfil it.

They still have shareholders do you think this looks good if they go back and say sorry we got rejected on our bid as investors said offer was derisory?

Hi Chris,
I can’t say I agree even if get where you are coming from.
I also don’t believe ganfeng will sulk off and we are treating this like they own over 50% of bcn.
They own 28.8%, if they want to sulk there’s plenty we can do also. They ultimately want the resource, last thing they need is being diluted by bcn and losing any degree of control. They have a signed jv, they can’t just decide to back out because didn’t get their way. The money is committed what are they going to do stall and cost themselves more? They have shareholders too!

I disagree no one else will look at this, they won’t at the moment given ganfeng position but that can change and current position of bcn is very different to year ago.

Why do you see 67.5p as an unlikely option in 5 years? It’s already traded there back in December. With Mexico concerns abating that will also lead to support.

In 5y time I believe I’ll get paid significantly more than 67.5p and I believe we would have hit current sp without gangfeng bid based on other lithium miners, lithium prices and znwd.

Look at Cornish lithium it raised on a 1/3 of our valuation in bcn!! The resources are a world apart but where it is….makes a large difference doesn’t mean the “asset” is weaker.

We were set to be a producer by 23, 2-3 years to wait doenst seem bad for return profile for me.

So whatever the argument is 67.5 is truly undervalued in my book and won’t change.

John do you remember earlier in the year that Crux interview think was or proactive and he looked so relaxed? I just wonder if he knew…

Every single day this deal looks worse and worse. The 50% premium is no longer applicable and the bod should respond in kind with a rejection to you an offer. But they won’t

in realty if they are making an offer it should be done tomorrow - There is no further reason to extend the process except to get past the AGM for the board and ganfeng benefit.
I hope the panel understands that there is no reason to extend this - There are pre-conditions, those pre-conditions are already known and applicable throughout the deal so they will be added accordingly to any offer.

Therefore there is no rational to delay or need to delay. Don't get me wrong im not naïve that they wont fine excuses but the panel needs to protect us a bit here.

Ha I’d pay to see that John!! Yeah I’m not expecting them to, just be nice in a dream that it happened…

Yeah it is rubbish and im saddened by it. Does shows like all of us here, I got too emotionally attached but then also heavily weighted.
I just hate the fact that Ganfeng waving in our faces 'LI prices may rally to boom-time high' and our BOD going please take it off us at a cut price...I know our shareholders don't want to but please do!

I think that's where I feel really sad for not just my own potential my avg is about 29p its those £1 above and been led on all the way here.

Whilst im careful to not make any libelous accusations, this for me 'feels' wrong on every level. Until I finally get a comment from the BOD post this being formal I will remain that way and im 99.99% sure post it also.

Who knows the BOD could if had any grit or value to me come out and say 'in light of LI rally and other stocks we have decided this isnt good enough and recommend rejecting the offer'. However as many said something doesn't sit right here...

Hi John, I think they will be hard pressed for delay though because the bid is and has ALWAYS been subject to outward investment requirements. They have always required Chinese approval and criteria for outward investments and as per previous Rns's that can take like 9 months.
So the bid is always going to have that stipulation attached even when/if agreed.
Hence I can't see any need for a delay if those stipulations make up part of the bid.

yep so basically as expected 67.5p or tiny little bit in there whatever. Barely even covers the move higher on ZNWD.