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Bonkers we’ve been diluted on znwd…I actually feel that’s benefited znwd holders over bcn (I have both)?

But the market value of znwd is higher so should really be reflecting that.

Zarro the rns said “ The Company will continue to engage with RK as well as seek alternative terms with other debt providers in light of the current favourable debt market conditions.”

Well that’s exactly it, that debt facility was in place with a lot less cash, development and gangfeng as a strategic partner. So clearly we didn’t like extension terms. As above they have stated they believe can get get better terms therefore is that not a positive to our funding and costs?
So you can equally argue that they can raise cheaper debt and thus 67.5p is once again massively undervalued that they are so confident can easily go out and get another debt facility.

Quantas, read your comment that looks to be in response to BorderBob (filtered him as you correctly wrote “bile”).
You only need to think of one company on Nasdaq and that was the performance post Emh going on there. Also we’re talking about a mine that’s on the USA border, the Nasdaq would be a huge positive.
Not only would it begin to have inclusion in index funds I expect it would become eligible for many other etfs.

Few years back passive money overtook active money in overall size/aum for US stocks, that is not to be underestimated.
The technical on something like listing on Nasdaq would be huge IMO.

Mr c,
My hunch or view whatever want to call it…IMO they have no intention keeping znwd, whether they use that stake to try sweeten the deal at 67.5p or they’ve agreed to sell it on moment they complete ownership don’t know.
I just believe they have 0 intention of owning, developing and having znwd.
Could be totally wrong, however that’s how I’m seeing it.
I still believe sense will prevail and the deal doesn’t get done at 67.50….85p with likes of m and g is a totally different story. Just a view

As in the znwd asset? Sadly when you leave a gold bar in a Bentley and someone buys the Bentley with everything In it….nothing you can do!!!

Sadly no one has stepped in and helped us, that remained the key for us really.
I await hearing what m&g say when it comes to it but I’d like to think they are better than just allowing us and them to be run over.

Mr C

My view on that is that ZNWD is being spun off -

One way I think they could do it is take all off BCN shares and put ZNWD into anther holding company which our friends on the board will magically appear on and will have ZNWD asset in there.....we will be given shares and cash in this new holding company.

I still think the logical conclusion is a tie up in ZNWD with EMH and thus gets spun out.

I mean look at timing of all this stuff its ridiculous!!! None of this sits well with me at all.
RK mine facility we can suddenly get better debt terms can we?????? What happened to doing that in Dec at 68p than letting Ganfeng take controlling stakes????
Now suddenly ZNWD acquires the other 50%....I mean what have the BOD of ZNWD done for last 6-12months? Sat on their hands waiting for a time to take over the other 50%? Surely they should have pushed and got that done AGES ago.

I read it that Ganfeng have approval to own BCN from PRC and to me that is BCN as BCN.
If they take ownership of BCN does BCN exist anymore? Maybe it does for the licensing but im sure its swallowed in Gangfeng asset pool?

As a result they will now be a 35% owner in ZNWD directly - Do they have approval for that from PRC? I Do not believe they do and would require further approvals. I mean easy answer is they get it but what's the point for what's worth £8mn quid to them for hassle factor and tiny in comparison to prize asset they've managed to nearly acquire for a fraction of value.

haha John I think that's what's happening here!!!

I think the sign of required for ZNWD for Ganfeng to own it outright not via BCN isn't a simple process and easier for them to cast it aside....lets see but that's my read here!

It is good news, I however think it reiterates what iv said before...
I think Ganfeng are going to give up ZNWD to sweeten the pot for BCN holders and not take it ....

ok again im speculating BUT is ZNWD being spun out to sweeten deal with BCN?

I think we might see that based on ZNWD RNS.....

Hey John, you know my view on BOD! Not a good word to be said from here!!

Mine is more frustrated speculation and therefore idle chit chat!!!

I am merely saying an asset is ripe here, forget the offtake and stake Ganfeng have they aren't in full control. There is lot someone could do such as accumulate enough of a stake to block this bid alone. Take M&G stake, worth with PI voila.

Or even M&G, as iv said before you know if this goes through at 67.5p, M&G return this year on the fund barely breaks even!!! The fees for that fund don't even cover YTD performance remember they didn't buy more at 45p.

That's where im frustrated thought there were smarter HFs out there or some of the other miners or even some of these AM's that could get involved and buy enough of a blocking stake.

To me ... it's jsut good business - 67.5p is wrong, become a thorn in gangfeng side why not?

you know as much as we fault the BOD here, I actually am hugely disappointed by UK firms.

I mean VW is out there saying they need to own lithium at source but what about all our UK listed firms? All of those that need to lead green revolution also?
Im not saying this is their expertise but Shell, BP, BHP, Anglo, Rio, you are all listed in the FTSE 100 and every single one of you needs 'green' assets. You have mines across many regions in the world, seriously just step up and fork out a hundred million and get a controlling stake here.

I mean you pay more interest on one bond in a year than buying a controlling stake in assets like this. It's pretty pathetic and yes before people ridicule im not naïve i know its not their 'strategic plan or asset or expertise' but frankly don't care!

That gets very interesting for me....is there an accumulation going on? Just speculating here...

Call me cynical...I cannot help but think the Chinese have acted on commodities to continue adding resources / mines at a 'cheap' rate before they squeeze us on prices all higher.
Crackdown on crypto also aimed at the $ above everything else for me....

And our BOD walking straight into it.

only those? I would only vote yes to 1,2 & 4 given the company hasn't been forthcoming with ANY information id like to know.

Cornish Lithium closed in 15 mins on crowdcube for public raise, was already 4.2mn before they launched....they raised another 2mn in 15mins.

Those investors that didn't get in....should really come here!

Iv been getting emails “have you been mis-sold solar panels?”, I can just envisage a picture of border-bob “call me 1-800-mis-sold-solar!

Hi John, I think my fatigue is with the whole process and the bod. Be nicer when everyone’s cards on table and it’s all a little more clearer or “honest” let’s say.

I would have much larger fatigue at the prospect this goes through and I’d be sat there waiting for China approval and processes!

Atm it’s all very interesting for me, I like optionality good and had. We’ve got loads here.

I don’t think some people appreciate how much hard work Dee has done and how time consuming that has been. I owe him a few pints for at least trying.

I was wondering about trying to be smart and do you look at Henderson and m&g, the respective funds and performance, fund flows etc.
Henderson as an 45p investor make 50% ytd…m&g barely break even on ytd performance so I really think they would be unwise to sell with the backing they have from pi. They are in strongest position of us all.

Bobberoonie, im not convinced price stays up here if there is no offer.
I think would fall back to low 50s maybe below and rally post the fall. I also think an offer at 67.5p and rejection with no follow up offer would lead to sellers but as mr C said once / if a bid is announced it should rally to low 60s imo, his higher (imo higher if likely to be rejected and belief its just matter of higher price).

Don't disagree on why sell sentiment though!! Lots of optionality and we were happy sat on it at 45p so should be equally as happy in the 50s and with a rejected bid at 67.5p!

I really do believe if a bid goes in and is rejected from shareholders, I actually do think someone might make a play here....id like to think a smart/activist HF or industry player etc.

Mr C yeah maybe, but again I think if it shoots right to 67.5p & that's actually pricing in a rejection to deal and subsequent higher offer to possibly follow?

Otherwise everyone would be dumping at 64-5+ and would fall straight back down?
AS you said prob goes suspended before that.

I'd be surprised Ganfeng would go hostile and try mop up shares at this point to then trigger a mandatory bid unless likes of M&G and Henderson and co offer them their shares at 67.5p but would be a naïve move on all parties.

Still think ton of optionality, just sort of looking forward to getting it out the way now rather than speculating! It interesting to see China's latest campaign to rein in commodity prices, can't let them get too high when you are trying to buy the worlds controlling stakes in Lithium....

There are always risks and it comes back to why you are buying.
My personal view is that you buy here because you believe you believe there will be a firm bid and thus have a lot of optionality.

If it gets to firm bid which imo again seems likely (90%), then you have the upside if it goes through and are prepared to sit for 6-9 months.
If it doesn't and gets rejected (which is what im hoping for), then you have a collective long term shareholding group that believes in much deeper value here.

I also personally believe Ganfeng will come back with a higher price.

As a result of all of this BCN will also be much larger on people's roadmap than before and I think could go from strength to strength....With AMLO relaxing, Mexico concerns will ease and I think you see demand for these regions pick up.

Iv said this before, if you look at other lithium comps weve barely outperformed the likes of LAC even with Bid spec. Therefore I do not believe we pull back much past 50-55 (yes we might dip to 50p and rally from there) if Ganfeng bid 67.5p, it's rejected and that's their only bid.

The risk is they don't make a bid, again im pricing that best sub 5% and we would have more dramatic drop in short term.

The other concerns (im sure others who are short will jump on this) are that Ganfeng will slow down the mining/developing the asset - I do not believe they are petulant and I do not believe that is the case.
In my view they will seek to speed it up and increase production as quick as possible given they will only have 50% of the offtake. This is now in the news and someone else stepping in would be a serious thorn in Ganfeng side - one they don't want to risk imo. Therefore pushing on to production and increasing the SP to prevent others stepping in is both in ours and their interest.

All in all I think as long as you can hold a drop back to 50pish and not concerned as in this for longer term then as you said should be adding.