Member Info for Fozdog

Im not convinced it is just the overhang, I think pre this raise that was 4x upside v 2x in the short term.
Therefore could take some time for money to come back here even with successful placing.

I'd buy more also if I didn't think might get a better return elsewhere in short term.
Maybe wrong but post Chinese New Year, I reckon Gangfeng stock outperforms BCN in the next few weeks maybe longer.

Agreed Nomad, but this board needs to get to grips that we continue to underperform and that sellers might consider money spent elsewhere. I bought at placing but I reduced down my potential buy to add Cornish metals for eg.
Do i think BCN is something I want to hold through 2023? - yes 100% its going to become a solid dividend stock and something ill tuck away.
The best comment I saw for lith was 'Tesla current SP means there isn't enough Lith in the entire world to fund their demand alone'.

However I can see ZNWD doing something with EMH and getting ahead of us!
It's certainly not in my interest to talk this down given how much I hold but this mind numbing ramping gets tedious.

calm down Gangfeng stock is +32% ytd, BCN is -26%

Stop acting like we've hit the goldmine, needs some proper performance from here and it is a positive RNS.

Yep same as you newboy I mean he’s talking about releasing value for shareholders - ok get on with it then.

kluck I mean I’m confused also...I’d assume you would always have “flippers” when right issues come plus add in the guys that’s short Marshall wace hf.
But that’s only 0.67% short. Given what’s going on with shorts and hf I think that dangerous.
I mean I’m surprised that robecco fund is up to 5% and we’ve barely seen share px move up. 5% oustanding there, nearly what 45% with m & g and gangfeng. Lac hasn’t moved better since rights issue but that being said they have significantly outperformed us for years.

Maybe pi”s are so bored with this for years it’s a battle every year for performance....Cornish metals are raising id harbour they outperform in the short term so can see why this going nowhere atm and money is elsewhere?

Agree Mr C it is quiet, EMH got a fraction of the shares outstanding than we do, this placement has killed this for a trading side and its going to take a while to unlock the value. Could really do with a decent operational update next month. Even that interview sounded like was taking some delays again.

I really don't understand the topic of this conversation...you are making out the market is being driven solely by people selling shares they are waiting to get at 45p. As a institutional investor the settlement date was today. Therefore they could have bought and sold shares during that period that were 'owned but not yet settled'.

I mean this really is a silly conversation, im sure there are tax implications also, if you bought some shares at 60p why not take a capital loss and rotate into the new stock coming at 45p? At least you are selling 46-47p and replacing at 45p.

One thing I don't understand. How can anyone sell the shares before they are allocated?? I meant before they have received them?

Because you own others so just replacing?

Bluegrass agree with John, its solely technical of making sure it gets done then being on the 'small' chance gangfeng didnt get signed off in time or took longer or whatever the issue might be. Maybe this is why it was all rushed through, don't forget Chinese New year is 12th Feb, now I'm not saying this is always case but 'normally' get selling into Chinese New Year and buying post that.
Remember Chines new year would have taken us into blackout and we wouldnt have been able to do placement till post that which you had 2 weeks to do, settle etc takes you to mid march. Much easier to get cash in then have a v positive update in March....thats the positive spin im thinking!

John, im sure g+Gangfeng would be happy with a double of their stock but ultimately this comes down to their contracts they have written to supply lithium. That will dictate the speed of our project, the more they write the price of production will drive their portfolio rankings...So something like BCN which is poss the cheapest out there will be at the forefront of their portfolio to get up and running as its highest margin for them right now.
Like you remain bullish but feel like I am parking this one to 2023 with hopes of becoming a dividend stock for much longer term than short term SP.

Ha, yeah debt is just more a moan up it's just all we needed was $60mn prob less tbh. They printed $8mn with private investors in 2 hours.
As Nomad said, they took too much out of this, too large a discount and could have needed less.
Is what it is now, funding done but the +ve sentiment from funding and being set by Q1 is lacking.

Just deflated that's all, I look at ZNWD up 10% and were flapping around until this additional stock gets taken down with enough longer term holders on II side.

All well, usual kicking myself with Captain hindsight, looked at switching into Gangfeng in Dec...wish I had! Should have sold when I said in 60s and traded but whatever is what it is, instead lumped a load more in at 45p.

I would agree regarding Gangfeng expertise but IMO he did place too cheaply both to M&G and to Gangfeng. Then this next raise was bad timing and again too cheap imo. A 20% discount was too much. I suppose let me put it this way - If you have M&G and Gangfeng on board - why couldn't you raise debt or another facility? If they are that big a player and command that much respect then why not?
And you also have a chance to call Elon Musk when trump was president....Im not saying any of above is right but this isn't a 'strong negotiator' at the helm is it?

Im being facetious but im arguing that Gangfeng are 100% tied into us now, we own 50% mine, they do also. They own 29.99% of us or will do. They are NOT the decision maker in BCN nor are they the sole decision marker in SLL.
Therefore with the drive in Lithium needed and prob contracts they've written, right now they need it more than we do, were a miner they are a producer. So lets start playing a bit more hardball.
We are what 47% owner in ZNWD, weve all spoken about focus on Sonrera, well they are tied to us now so lets get ZNWD going and gangfeng can put up their 29.99% of the 100% we will need from our share to develop it. They cant block it as 29.99% holder its about time we got on front foot.

Agree John, good business for Gangfeng poor negotiating our side...oh well.
Now lets be wiley...lets get Q1 update to say started all on track and everyone cash in the pot.

Then when were in middle of it all 'Gangfeng were developing ZNWD, you owe us 29.99% funds needed. How would you like to proceed?

it's additional, to be approved over coming months.

Maybe, sort of see it as a bit like whatever to be honest!
At end of day once they are in they are in and dilution has happened.
But this idea of takeover and being able to take everyone out at a fraction is wrong. II's would have bought fully aware Gangfeng getting more and further dilution.
If I was Secker, id take gangfeng to 29.99% and then say right you've had more than a fair deal (not even close) and fully committed now....So were funding ZNWD and your going to have to pony up for that with you 29.99%. Or get on with Sonera and sort it out!!! Lock them into ZNWD why not.

I suppose you can look at it both way s but 30% will trigger a mandatory bid under Uk takeover code where we are listed, I expect they need govt permission regardless to make a mandatory bid for an overseas listed company.

This gangfeng might buy BCN out how and why exactly? It's been touted so many times on this board and to be its complete speculation with no base at all.
Gangfeng have kept under 30% so not launching a mandatory bid and if they had to they now have larger II's and M&G to contend with. They wouldn't get it through.
On top of that, they bought 50% production without having to take control of a company for a fraction of what it would cost on the other 70% of bcn.
Its not viable, its not plausible and it wouldn't get through.

John my understanding is gangfeng would have been part of the placing not an additional placing - Maybe im wrong there but given it doesn't settle till next week I would assume their sign off on SLL was done at same time and maintains that point.

agreed, could have been done better but clearly this was pushed through to get done. Makes me quietly confident.

Me speculating...is there any link to raising more than needed and a corp presentation out there on ZNWD?

I like your name 'do not panic' few need to read that and remember :).
I also agree which helps!!

they highlight the raise and gangfeng commitment to that raise so assuming today...