Member Info for Fozdog

Chameleon I defo do get the sentiment and yeah there defo is a chance ( I might be wrong here i was a bit overzealous saying 95% chance Ganfeng dont own ZNWD in 8months time if this goes through)...
However people are talking about VW like the majority of their cars are sold into Germany and you need to bring in ganfeng to process a German mine to give VW lithium.
VW is off the top of my head the largest European car seller into China, it isn't a case they take over a German mine and then start giving lithium to VW in Germany.
I really think the German regulator might have a large issue here....As you said thought maybe they do a JV and rinse / repeat - Given how slow their processes are the size of ZNWd v BCN it's a token to them, so for me its not even strategically important and comes with headaches.
Therefore logically they will recoup their spend on BCN or use it to try turn over a deal?
That's what I think but the deal in its current format if goes through means ZNWD goes anyway!

Jimbob they can't pay M&G a different price - the whole share capital goes at same price if voted through.
The board will be discussing with M&G intentions now the intention to purchase is out there is my best guess that's all. that's going on now.

I’m reluctantly resigned to circa 70-30 prob 75-25 goes through one way or the other but 50-50 it goes through in current format.
For me the stoppers will be
1 - m&g but that might be simply about price no way they are near as emotional as us!
2 - regulatory approval doesn’t get there (arguably best chance to Block it right now)
3 - somehow we’ve miscounted all the share capital from pis and gets blocked
4 - knight or someone else comes in to command a blocking stake (whether from m&g but prob seen accumulation by now)
5 - if could get enough shareholders to vote the board out but hugely unlikely given can call meeting but amount votes needed to pass will struggle.

I hope the board got the messages from pi”s, I do hope m&g at least has some fight in them.
We are really now looking at a higher price with spin off re znwd as the kicker. That to me seems the most logical, they have no need for znwd (unless agreed to sell stake already).
If close that feels the logical solution. As said previously ganfeng can try be petulant etc, but that’s when they can open themselves up to another player who could in turn drive them out.
Their best solution they lock this down, pay up and turf out znwd.

Abbas this isn’t some asset owned by m&g assets or their own money, this is held with their sterling recovery fund. Not an asset held on m&g balance sheet, I’m pretty sure this external client money for this dedicated fund.
As said previously it’s not even their top 5 holdings it’s a 1.2bn fund so this is what 25-30mn position for them, even if said 30mn sub 3% holding of the fund, which is Still material none the less. They are having their best year in 5 and looks like 12% return ytd. If they are being offered 67.5p v 55p another 20% return on 3% of their fund is quite material. I’d like to think they would push for higher and turn down the offer, but got to have strong conviction they push past at least 75p before year end.

Yep put up or shut up by 3rd for the panel, unless both parties agree to extend. Discussions will be going on now with m and g as they are critical and others. Hopefully our emails have been heard, and agree one way save face is with znwd spun off (plus let’s be clear they then have to get approval and I expect German govt might step in). So it’s not hard for them to do it.

Personally I think we are all so deflated, if you said they should have done placement at 55p and avg out the 3m accordingly I come out out about 85p. So if get there and spin znwd off it prob is just about enough as painful as it’s all been.

Hi bluegrass, I’m no specialist to call an egm requires 5% or 10% if had an agm in last 12 months. Special shareholders has to be directors or in bylaws or 5% shareholders.
Thing is the more time this goes on the less time we have to mobilise, I mean it’s a bit ridiculous that we’ve not heard more but they do have till 3rd June.
Again I’m no specialist but my best understanding we won’t get a vote till post that? I also don’t know what changes there are nowadays with covid. I also thought was 2-3 weeks time gap when could call an egm and were rapidly going past that.
I expect there’s discussions going on with key shareholders, hopefully the amount of pi complaints might have put a spanner in works.
Ideal scenario they are coming up with a better proposal as m and g said no.
Otherwise I’d assume they are waiting on ganfeng approvals and to force it through.
Ideally I’d like a new bcn spun off with znwd stake in it, cash to help znwd and then £1 a share. But I’m dreaming.

Most companies respond to m and a bid accordingly but as the board has provisionally accepted this, then it has to go to shareholders - but I don’t think as it’s an intention rather than formal we are at that stage yet.

Yep can’t disagree, it hinges on m&g. Lobbying them to reject as we are all looking for a higher price is what matters. Do wish this didn’t take so long, but that’s nature of companies we are dealing with.

Tbh I don’t think the weak market makes any difference. Imo the overriding factor remains m&g, always got to remember whilst 15% big to us the size of position in fund is prob relatively small. I’d be surprised they would cut themselves out here if I’m honest but also didn’t take up further interest prior.
The issue with this all of it does go through at 67.5p I’m assuming you can trade the shares during that period? Which for me means it’s always going to trade at a discount. Just another reason to vote this down and request a better deal.

Iv spoken to a few U.K. m&a specialists about deal successes, when board recommend something it’s in the 90 percentile of going through. Without knowing bcn said to me if at that much of a discount pricing in high and most likely regulatory chance doesn’t go through.
Again all speculation but all same makes sense to me.

Yep please please stop Brexit chat! I can’t deal with anymore of that!!! Looks like this bob guy achieved what wanted, we’re replying on this stupid subject line. Any chance can move a Brexit chat off here please? I beg!

This is very sinister to me, you reek of a disruptive force during bid spec. I do not believe in your intentions here and trying to make some eloquent poetic attempt to make you sound less disruptive and like you have now suddenly done some “research” makes me scrutinise you even more.
You ultimately are trying to imply this is a good deal which no Pi on here agrees with you. This feels very coordinated to me.

Yep my reply to Kelly”s standard one was that I also wanted to request an egm or shareholder special meeting. Put my allocation down and said IR needs to engage its shareholders as we have a limited time frame to block or renegotiate this deal. I expected at least some engagement from them. I mean there must be easy 10mn shares on this board I’ve said 2mn ( mine and others not on these boards) you’ve said 2.5. That’s over 3% already.

Bradders I can add a million shares to that which is no, and know or another 1mn saying no also

Positivevibes, Ganfeng will not hold this it will be sold off.
An ideal scenario is thats been agreed with EMH or even better they leave some cash and ZNWD stake with a new entity for BCN shareholders to progress from there.
I would put it @ 95% ganfeng will not be the holder of ZNWD post any deal completing in 8 months times.

Just going back to this - can we all get some backbone a bit here?
Ganfeng are the largest shareholder but if they want to start being petulant then lets bring someone else in.
We are still the majority in BCN - THEY DO NOT GOVERN OUR DAY TO DAY ACTIVITIES.

If they don't want to drill, become difficult, we've got the money in lets look afield for someone else simple as.
I'm bored of bowing to them at every corner.

Got the same one back, obv responded saying that’s all very well and appreciate it but we have limited time here to look at an egm or shareholder meeting. I made it clear and gave my holding that is something I want to peruse.

I wasn’t going to engage this but borderbob but talking about Brexit and sat as you said on the border to Mexico of course you are going to feel like that!
If you have issues with your new presidents open door policy take it up with your congressman or woman.

Now had you said the concern is Mexico with Amlo, mid terms and already seeing weakness in government yields and cds contracts I’d have at least listened.

The region is about socialism and Peru just lost that battle to a banker in their latest election polls.

Ford and others have already opened arms to doing business again and putting factories in Mexico now trump has moved on (maybe only for now).

Mexico needs money - Amlo will push his policies for backing then put his hand out.

If you want to use the U.K. our last socialist attempt to well Marxist with Corbyn has destroyed the Labour Party and its the weakest it’s ever been.

My only one concern here has always been Mexico but the fact we are at this point they are not about to cause an issue with China or the usa for that matter. My biggest mistake was doubling and tripling down rather than hedging sensibly with lac so I do not discount the Mexico effect and have been the one stating on this board.

However you have come out of nowhere in the middle of bid spec with pis clearly voting against the deal talking about a failed state - I do not trust, like or respect that and can’t help but feel there is someone behind that. That is malicious in my view.

John, you’ve always been clear that you are a lth. For all that us Pi been through you would consider to jump ship now?
Why sell! If it drops on a failed bid it hasn’t changed the investment thesis as to why you are here. You’ve also just been proven to have the largest shareholder pay min 67.5p and get rejected. That’s a good thing in my eyes.
Buy case - my issue there is the thought of adding more here, the deal goes through and I’m sat there for months whilst they develop the mine and at a rate of knots will eat away at me!
So I’m back to hold and reject deal.
It’s quite simple if the bod actually had an ounce of respect they would engage us but maybe that’s the ploy, ignore and divide us so people throw in the towel.

I really don’t think it’s a hard thing to say you could have done a share placing on the ramp in dec, at 65-70p, 20% discount was call it 55p. Let’s average the 3 months out from there at 58-60p, add the 50% premium get us to 85p-90p ish. Then spin of znwd and relinquish all holding there and give it to all of us in a new company. Gets us around £1 ish.
Can’t say what wanted but at least more acceptable.

haha Nomad thats made my afternoon, 'hello Peter' .... still chuckling now

John mick is right, I have about 0.26% so maybe we can get to 5%. I’ll see if can find a template letter that everyone can send.