Member Info for Fozdog

Hi Nomad I was trying to read through on that this morning....form Newswires post the RNS it states:
'Bacanora's management said it views the offer as an attractive proposal that it expects to recommend to shareholders.'

Yet in replies from the company they imply as no firm offer yet they haven't made any recommendation.....

thanks Jam, sorry I think I misinterpreted that - Under a scheme of arrangement they can put forward a 67.5p intention and during this process can increase their bid. So even if there was a firm 67.5p was rejected by the board (when it becomes firm) they could increase that.

You are saying once / if it's been rejected by shareholders vote then they can't for 12 months. I agree unless certain stipulations are put in etc trying to think of eg, will ask someone.

I know its a security firm so much more scrutiny but think the first bid via scheme of arrangement for GFS via Atlas UK (Allied universal) was 8th Dec. They increased their cash offer in Jan which was extended till Jan 27th, then

Also the board didn't recommend the first offer 210p (that was considered very low ball also) but did to the increased offer to 245p.
If only ours would look at that scenario....

I again think we have such good optionality here!

Jam why can’t they offer again for 12 months? They can offer higher regardless if it’s rejected. It’s not a mandatory bid for breaching 30% threshold. If this bid is rejected they can come back with a revised offer higher.
Judging by the subject line you have puzzle tree telling you it’s time to sell - stop engaging him he most likely has a short on.

See that we are 1p off from a very small buy hitting 60p....It will be interesting as if you get to 61p you are talking roughly 10% discount to any potential 67.5p px.

I genuinely struggle to see anyone sensible accepting that and sitting there locked in for the time this could take to complete for the additional 10% return? I actually think if we cross 61-2p the market is starting to tell you this is a long long way from being a done deal especially at that price....

If is a 10% discount before Ganfeng shareholding meeting on 28th June and then you add the 8 months it could take for China to sign this all off (something Ganfeng cannot waive) its clearly telling you there is a long way to go here imo. I also struggle to see the board really pushing it if we are close to that price given RV performance of other Lithium miners e.g LAC.

On another note any reason why some threads been removed?
I still see the only 2 on my filtered list must be posting as I get the satisfyingly 'This message has been filtered, please adjust your filters to view'. Seems like they are posting more, is that because they are short? Seemingly a little more desperate?

Hi all let’s start a new thread.
I am still thinking this asset is very much in play, think we could see touch 60p on back of G7?
There really is great optionality here, I really think we could see a rally in Li stocks and also a value player looking here. Ideally activist hf type.

https://www.eventbrite.com/checkout-external?eid=156502381837&ref=eios

I saw this event “future of mining” might be worth listening to its free.

Hi John, you are totally correct no one can give unwavering support and shouldn't have to.
Glad to hear you agree with my comment re putting to shareholders, this what the board is for to try have an opinion as best as we can.

The thing for me is I believe I have huge optionality here. The fact we have that statement re going to their shareholders, is imo and way Iv read it, more than likely a 67.5p offer is coming.

Optionality for me:

1 - We could see a massive rally in ev related stocks from here and lithium resources following the G7 summit and there was a cracking BNEF Summit Panel on Future of EV Batteries in Europe few weeks back on the 17th May. The Eu rhetoric could really really ramp up alongside the comments from VW into mining.
With that in mind were talking 20%....to get to 67.5p a level we saw in December. Is that unreasonable? I don't believe it is. Is it harder with the bid spec? Sure....but opens up other options.
Imagine we got above 67.5p??

2 - On the above a smart HF or investor could look at several things here.
With large PI involvement and clear dissent at the deal, when/if Ganfeng put in 67.5p offer why not accumulate a blocking stake if you believe either its way undervalued or they will eventually pay more? Theyve played their hand by this point....activist shareholder would be perfect here.

3 - If they don't proceed with an offer I have much larger upside than 67.5p over coming years and you've heard me write how long I am committed for.

4 - The softening on comments from Mexico on nationalization and if I was previously concerned on mid terms....I am stuck here now so made peace with that a long time ago!

5 - ZNWD if the other 55% thought about this or EMH this is the time to make a play. I would want to buy out remaining solarworld stake - this requires cash, if BCN doesn't stump up then they get diluted....be interesting to see what happens then as you might find out cares on ZNWD.

I am a big believer right now in 1 & 2. For me they are smart plays here....I actually think Gangfeng look vulnerable if another player stepped in as above or the market rallied as above. Its fantastic optionality to have on a share no?

All this is just my views and I will continue to hold and hold.

On another note....
I am getting huge satisfaction 'this message has been filtered' !

Bampster agree with Bonkers lets not start a precedent here of something we disagree with.
Have an opinion but there is no agreements or nothing to be made. We simply can express some views here and put ideas around.

For eg I have been thinking about how could there be more buyers in BCN to either come in for a blocking stake or holding as its undervalued. I would love to see the SP get above the 67.5p valuation.
In the last month alone LAC has rallied 25%.....Bcn 57 v 45p that's not much difference considering bid spec.
We have effectively lost all the upside from the commodity rally.

Morning all, I have now used the filter button and it makes sense. The board was getting jammed with rubbish. Glad to be rid of it.
You missed one out bonkers - try make yourself out to be credible, by claiming you have made £20k.
There was 3.5mn shares traded with 1bp at best on bid/offer in prices. That means he traded 2mn of the share capital yesterday. It also would mean he didn't have a position in it because he would have been down on the day.
I don't really understand it, I am always willing to have debates and challenges but to just be on a board for disruption? To also be encouraging people to sell then claiming you are making £20k is manipulation in my book.
Did they try to force down a price to cover a short? That's what it looks like to me.

Anyway we move on, filtered and ignored.

itsoutthere, lets try be civil - there is no accepting and I love the optionality you can have at BCN.
There's a long road ahead - However if you read the RNS is said they are submitting their offer to their shareholders -In my view that means they are proceeding with an offer.
Therefore subject to Chinese approval and their shareholders an 67.5p offer is coming. That's the only acceptance I have, that more than likely a 67.5p is coming.

As a shareholder in BCN and ZNWD - There is an AGM coming up, ZNWD AGM I would like to know what plans our largest shareholder (BCN) has for ZNWD with or without takeover.
The European industry here is going to get hotter and hotter, would you not like to secure financing now than wait potentially 8months (Chinese outward investment terms that ganfeng cant waiver) IF a deal does get done with Ganfeng?

Malik, there was BNEF Summit Panel on Future of EV Batteries in Europe few weeks back on the 17th May.
Not sure if you can gain access to the transcript is there on Bloomberg but lot of consensus that need much more battery supply in Europe.
The panel also seemed to highlight EU climate policy, finding local sources and local recycling.

There's a lot more interesting stuff there also regarding EU plans to stimulate demand for locally produced batteries.

Really hope Ganfeng doesn't ruin the potential here and do think the ZNWD board need to get this going. If that requires funding to work on a JV with likes of EMH needs to be done now and dilute BCN accordingly.

My understanding is the due diligence and process wouldn't change, but a higher price still needs to be signed off via their shareholders and therefore inadvertently the POC.

Maybe I am reading it all wrong but they also don't want this to drag on. If the share price pulled back and they've now effectively confirmed their intention to pay 67.5p (putting to shareholders tells me they have) - It does increase the risk someone else stepping in here.

Why would you not consider getting to a controlling stake that could block this?

Let me put it another way, if everyone was buying and adding here and the price got above 67.5p what happens then?

This is why I bring up Engine1 even if its for a roadmap how a smaller activist shareholder can get certain members on the board.

Znwd has an AGM coming up, they have a right to know what intentions are there bear in mind they also have the ability to decide the process for their company.
If I was at EMH I would want to put BCN in position to stump up capital here for developing ZNWD or diluting them accordingly.

What's sad for me is the 2 boards at BCN & ZNWD should be working for all shareholders - ZNWD needs to JV with likes of EMH and some money needs stumping up there (if bcn dont participate dilute them).
I don't believe they should have to wait a possible 10 months (2 months till 28th and then 8months deal time) for BCN/Ganfeng. All Znwd shareholders should be pushing their board to rectifying this for ZNWD also.

Hi John, was wondering where you were today and appreciate the vote of confidence!
I am too going to put onto ignore list and leave at that.

The delay is a kick however I am not convinced in delays further because this is now a material statement that they are putting to their shareholders board to vote on 28th. It is also therefore a binding statement under takeover code.
The risk was this got approved and dragged on for 8months with the outbound direct investment pre-condition. Holding a company for 67.5 upside v low 60ps (imo gets to on firm offer) get to for 8 months just not worth it.
There would be a serious case to answer for if they dragged it out and stopped developing.

I have a lot of faith at the moment in this really changing in coming months, I really like the optionality I have here and will happily hold.

On the original bid spec early May - An International Energy Agency (IEA) report from Wednesday recommended governments should start battery material stockpiles, and said lithium demand could increase 40-fold in the next 20 years. IEA executive director Fatih Birol said this would become an “energy security” issue. China dominates lithium processing, while mine supply largely comes from Chile and Australia.

Hey Puzzle 'Price has dropped. But it’s still at its highest since the day the potential offer was announced'

eerrr how is it at it's highest if its dropped? lolllllllllllllllllllllllllllll

hahahah wow, I can't stop laughing! 'Sell now for Cgt'

I am laughing so hard that it's actually put me in a good mood!

once again puzzle showing how inept you are - boarder bob went on about credit ag.
I called him out on it he said he had absolutely no idea.
He also said today hat 5% is like the tail wagging the dog - Well he bought up 2% owning at Credit ag so what's the relevance there? Total contradiction.

Yesterday he posted some article about clay procedure - He took the statement 'BCN declined to comment' and tried to use that make out they haven't got one.
The board cannot and will not comment during bid spec so that to me was pure manipulation.

I have wasted my time even engaging you, so will leave it at that. Same goes for Boarderbob, you offer absolutely nothing so I shall refrain from discussing further with you.

Haha ok Puzzletree, let me get this straight - you have been a member since 29th May, 1st post on 3rd June on Bacanora with news around it.
You didn't like the fact that I just completely destroyed all your comments.
I totally agree my typing English is terrible, but the word drivel should be used for what you wrote!
You clearly don't even know what a market maker is!
You even wrote 'sell to teach them a lesson' - Teach who?! I mean ive seen utter rubbish written but that statement there is right out of boarderbobs playbook!

Writing in perfect and eloquent English (on a 'chat' board no less) doesn't mean its got any value to it!

I know plenty will say 'no chance' etc and im not naive...but I like to try & really believe in contacting this HF.
https://engine1.com/

https://www.corporateknights.com/channels/responsible-investing/engine-no-1s-big-win-over-exxon-shows-activist-hedge-funds-joining-fight-against-climate-change-16224564/

Not only have they impacted a large company like Exxon with a small shareholding, they are looking for climate change.

I have asked them to have a look, I really don't think it's a bad thing if we all do?

Puzzle tree so your first post was....Sell like wild tiger did...he would then have to buy back in higher as of today from where he sold this morning. So that doesn’t look great so far....sell to teach them a lesson...ummm as long term holders that believe upside in deal being rejected and far from over.... as this is going to their shareholders has just confirmed they are proposing the deal so it’s further on that a month ago....
then your talking about brokers market making activities?! Those brokers are market making. You do know what market making is and when involved in a potential transaction even as a custodian they have to report transactions?

Dan im just trying to think about other avenues, thoughts here im trying! They might not agree it but they cant block it either soooooooooooo why not press EMH?

Hard to disagree with you bonkers no fault laid with ganfeng all with the board.

So given we can’t ask questions on the deal - I feel like one thing that needs to be lobbied is a JV with likes of EMH for ZNWD?
Can we request that our holding in znwd is spun off into a new share capital with likes of Emh and a change of ownership at bcn causes those shares to be issued directly to shareholders in the jv and no longer part of bcn capital? Therefore they can’t have ownership here at znwd but we can force funds to be used and committed to the jv?