Member Info for Fozdog

Walk away? Why on earth would ganfeng walk away?! They’ve made an attempt to bid an asset at a token level. They managed to achieve controlling stakes and offtake agreements for an absolute fraction of the value!!! They aren’t walking away from an asset that’s growing in value just to be spiteful. Not even sure their govt would allow that!
They increased their holding at 45p without even blinking after getting a solid ownership at 25p barely anytime before. Now couple months later paying for more at 67.5p. It’s not like they’ve gone hmm ok above 67.5 this doesn't work for us.

This is why the bod are a joke, rather than responding to us regarding our concerns and the fact pi”s are clear we will do what can to block this they are ignoring us.
Hence I keep saying we need a consortium of 5%. At least it would get us a bloody meeting to say we don’t agree with it and want to reject it. Might help change or swing m & g also.

Let’s also be clear we aren’t aiming this at ganfeng for being shrewd and fantastic negotiators v weak secker and co, but we were told matter of months ago our STRATEGIC PARTNER was there to work and benefit alongside us in unlocking so Sonera value (not taking it away).
It wasn’t long ago everyone spoke of ganfeng as the experienced miner and they would be the ones that could unlock the value. The moment that starts happening they try to take the company at a fraction!

I was here and committed for years and future years was talking about this in 2023-24 and wondering when we would see dividends to sit on it for many years to come. So I’ll do my best to fight, Iv got no issue losing but want to at least come out bloodied and bruised from it as I have been bloodied and bruised owning this for number of years!

Malik I actually disagree - I own both bcn and znwd and imo ganfeng are Not interested in znwd.
They would need financing and approval to get znwd to development case from China. They would also need approval to own the stake in znwd from the Chinese govt.
They would also need to get it through the German govt as a controlling stake in a German mine is not what the EU rhetoric towards a China is atm.
I would speculate ganfeng has a buyer for the stake in znwd. Could be a discount or premium.
The bull case here is that emh would be the ready buyer for znwd stake and then proceed to take over post acquiring. Would be very very cheap way of them getting the mine.
It would be lovely if emh did that with a share swap for znwd post this to take 100%.
The negative case is ganfeng just offload the stock into market once finished with bcn.
Whilst can never be certain I do not believe ganfeng care less for the znwd stake.
And as you said the first offer for bcn is out there and being met with strong pi resistance. If this gets blocked by existing shareholders ganfeng could have to up offer or sweeten deal by putting znwd into a total separate company for bcn shareholders to keep.
They can’t hold it in bcn because of the mining licences they don’t want to jeopardise that.
Znwd is irrelevant to them and more headache with where it’s based than it’s worth.

R7 ganfeng can block anyone with their 28.8%. Again might be wrong here but only way see another buyer is someone would need to come put a share offering above 67.5 to market and try accumulate enough stock of m and g and pis that way.
Effectively we would need a knight to ride in. I can’t see any other way another buyer can come in.
Realistically one would hope the board should be getting a sense pis will do their best to reject this, if so ganfeng might have to up its offer to get it through.

Bluegrass that’s my understanding, they need 75% of the remaining share capital not including their own to be binary. Maybe Wrong but that’s my best understanding

So if I’m right on that from specialist m and a person, then m and g and tiny bit of pis can block this don’t need 25%. I think that’s the reason trading at this discount as no one knows what m and g will do...they can almost block on their own.

Scheme of arrangement means 75% of the remaining share capital and it’s binding on all shareholders.
So ganfeng let’s say own 28.8% they need 75% of the remaining 72.2% share capital. It would be very difficult to get someone to step in when they could effectively block another buyer with their 28.8%.
Effectively they need 54.15% of remaining 72.2% shareholders to get this through.

As previous said the only way to try put cat amongst pigeons here is to get an independent to bring pis together, hit 5% and call special shareholders meeting to remove board members and prevent them agreeing terms.
Then that independent can approach m and g and others on groups behalf.

Bluegrass fca deals with financial services yes and this comes under that for a listed and traded market where you might have suspected market abuse. You can report as an individual, ultimately these things are v hard.
I also think can report to takeover code/panel but not sure how

Hi bluegrass I’m doing my best to try get people on here to go down that route.
I agree on all fronts with what you’ve said re fca, starting from the justification to using a 3m average - if using that they could have done the placing higher (remember it was done in hours) which clearly indicates to me placing was discounted for their benefit.
It could have also been done in December there was no news to prevent that being done.
So if this has been in the “offing” for a while it doesn’t sit right with me at all that this being material information wasn’t given prior to placing etc.

I don’t but this is where it sits find wise according to holders list with m and g. Manager of the fund is on there, no idea if have to buy the fund to talk to them!

https://www.morningstar.co.uk/uk/funds/snapshot/snapshot.aspx?id=F0GBR04S95

Look up imagination technologies if you want an eg, this bill was also pushed from the department of energy.
It’s a good thing that they would look into this nothing to do with nationalising it.

When did I say nationalise? I said block the deal it’s a totally different statement! Nothing to do with them nationalising a company! Move on, you are missing the point

Alnista yes they can and I didn’t say they would be however they certainly can block it. That’s what can happen when you are a U.K. listed company.
Further more they will subsequently own a controlling stake in a German mine with znwd - so unless they’ve already agreed to offload znwd to someone which is likely then the German govt might have something to say also especially given the latest European rhetoric to Chinese involvement.
If they feel this is being done to prevent a “free” market on lithium they can certainly intervene.

Mr c I don’t use Twitter but be nice for someone to get the GameStop lot involved! They don’t like it when the little investor gets screwed ...

I’d assumed everything is cleared with govt. if not it’s getting cleared during this period.
I’d actually like to see the U.K. govt put their money when mouth is. If you got back to Dec they passed a bill precisely for blocking overseas investment - it’s fine that the asset isn’t in the U.K. but it’s a strategically important asset for an U.K. listed company.

Agreed Jam, already done that and no answers.

Ideally we need to instruct an solicitor on behalf of pi”s everyone emails their holdings to keep it confidential and an “admin” fee of £20-50 whatever is needed. That said solicitor, has two letters to go, one saying we will reject the deal and trying to get to 25%. They will also approach m&g and others on pi group behalf.
The other is hitting 5% calling special shareholders meeting about board replacement. Whatever is needed to get those on the board who aren’t for this deal in a better position - even if means removal of secker.

M and g holding is on Bloomberg and also the fund that it sits in recorded on their - the manager named of that fund is also on that, best I can provide.

John as much as wanting to keep it light hearted we have limited time here. Got about 3-4 weeks to get to point of special share holder meeting etc.
I have sweater and toiled for investment here, I supported at 15.3p during covid, Iv done nothing but support and feel badly treated. Like the placements timing and 3 month average price. They could have done this placement in Jan. Does it honestly sit right with you? It doenst me.

Form 8.3 says m and g 15.87%

I have about 0.26% I’m happy to sign any letter to request a special meeting and join in here if we can get to the 5%.

I had been targeting at least some comment about our 'domestic' commitment to renewable energy down here in Cornwall as a PR commentary so I hope so!