Member Info for Fukurokuju79

Totally agree MadChatter

I think there will be more dilution beyond Ganfeng. Whatever the shortfall is currently, say circa 100 mill, will be equity imo. It will be with existing cornerstone investors who have anti dilution rights, alongside potentially new ones.
Ganfeng will first identify what they can save by procuring long lead items from within asia etc. This and the shareprice at the time will determine how much dilution. That said its only to be expected and it gets us on our merry way to realise the huge value we have. Also Zinnwald spinoff may reduce the amount, or may just pay for the acquisition of the further 50%. In any event the mcap here deserves to be a lot higher today.

Yeah but pvcs doesn't count....share consolidation :)

Creswick news was last 8th May so been bit longer than couple weeks. I had expected some more news flow on this b y now. In the rns they advised. 'ECR has therefore commenced a process of gravity concentration tests from whole of bag samples from the reverse circulation drilling and will release results as the more representative whole of sample bag analyses are conducted'.
So sounded like its started, and news flow would be released a as results come through. No news is either great, or not so great. Hoping for the former.

Abd, suggesting it should be ignored is simply far too dismissive.As with any target price, prob best not to assume anything. Give the report a read and assess what it says.
To explain my point, I am not paid by bcn but if I said on here I had the same target I would be asked why. Then I would expect to be challenged on aspects of that. Ultimately, reading the context behind in the report to determine their target price wont harm. Then you can decide what bits you agree or disagree with. The truth is always somewhere between the extremes.

Ganfeng chinese approval expected by 28th June. Which will be followed by an RNS by BCN hopefully outlining a bit more.
Suspect clarity will be after once Ganfeng have had their several month assessment on how to reduce capital costs and time.

Zinnwald acquisition of further 50% extended out to Feb 2020. However that will all be sorted as part of spin off.

As per earlier posts I bought in early today while I did some further due diligence and research as thought it may have continued to rally ajeadof vote (wrong I was). After reading some more I am happy, even though I bought in high 6's grrrrr.
Half yearly report clearly shows they are confident and are already working to progress the asset. 'Northbay and Gunsynd are currently in discussions with a third party to raise money for the Subco to progress further work on the Madagascar licence. We maintain our belief that this asset has great potential. This change in strategy will hopefully see that realised. Advancing this project is now a priority for Gunsynd'.
Decent cash in bank following UKOG sale of interest and share disposal, plus other assets with value not miles from current mcap. So comfortable the additional oyster assets are not very baked into the price yet despite the rise. Well done to those in early and riding free (swines!!). :)
With our assets and if we get 30% approved even on lower end you could argue this should be 2 - 4 times higher on approval alone approx 2-4 million conservatively. Conservatively as I am sure uncertainty will attribute a lower value initially.
In terms of approval. Obviously never any guarantees, but I do believe most PIs wont bother. The other significant holders circa 20% or just over will vote in our favour and Oyster have been encouraging support. Having looked at the resolutions I think its in their favour as dealing with the debt allows them to execute their plan to change name to ZTR and do a stock consolidation. Its basically gets the weight off there back as they service the debt. Ultimately with no cash to advance the project themselves, and nov to april being rainy/cyclone season in madagascar, they would be fecked if they keep the asset themselves anyway.
Overall I am more comfortable now. Gun are financially solvent, the approval of transfer of assets doesn't seem baked in and I think it has a good chance to do really well short term.
Apologies for the essay, just thought may as well post.
One last thing....I read in an oyster rns that the presidential decrees were provided to oyster, which mentions grant of an extension of the current exploration phase of the 4 zones in block 1101 to July 2019. Anyone know about any progress to extend or agree that grant?
Bottom line though is all that can be sorted if approved. Gun will probably have to strategise and formalise approvals and any funding initially anyway. With work commencing after cyclone season 2020. If the transfer of asset is approved it should add a nice chunk to the value here. I will be happy with 150-200% accounting for a lower initial value of the asset on initial approval. Fingers crossed. Thoughts welcome.

Thanks. Link doesnt seem to work? Any chance can repost

From what I could see madchatter I couldnt or didnt find that oyster had any other assets. However like you say if they do, voting for this could be a bonus. My guess is they just wont bother.

Mentioned that earlier spike. Doesn't sound like its eyeguy so assumed it was an imposter and mentioned it on here.

I agree. The shareholders in oyster are already suspended out. No matter which way it goes it wont make a blind bit of difference to their outcome the company are a goner. Most PIs wont vote. We defo have 20% in the bag. What I cant find is what the rules of voting on tsx are. I looked in the rsxcompany manual.....minefield.
Assuming the approval is obtained then 30% of the asset level is worth way more than the gun market cap currently. ven ith the funding uncertainties etc. un have a mcap.of just over 2 million.
Still, on a calculated risk basis its a good risk reward. I do however wish I hadn't gone all in first thing!

Yeah bzm was a love hate for me. Loved it first time as did well. Second time I invested the same day they announced and ceased trading lol. I agree with you eyeguy, its just what happens when/if the remainder 70-80% dont vote? So lets assume thee PIs accept their fate is what it is and do nothing. Do you know on tsx the rules. In effect they dont vote so they are excluded and it requires 'x' % of shareholders that do vote in favour and its job done?

Sly smile re question if a specific customer had shown interest in fluoride. I am looking forward to the grand unveiling of all of this. Wish I was in his head!!

Its the 75-80% remainder shareholders I am nervous about. Im in now come what may. Assuming the other 75-80% are PIs as I cant find any other IIs I assume the nominee will vote for the main part? As unlikely all share holders will cast individual votes... Thoughts?

Well done eyeguy. Unfortunately I think I bought the shares off penny lol. So I managed to achieve a nice paper loss so far. Its a bit of a risk re approval. Suppose its a 50% drop vs a potential 300% rise. Just wish I was more measured in buying this morning.

True MadChatter that was my initial thinking. Either way they are in a bad place really. I couldnt see that OY hadany other assets anyway? It seemed that what would be transferred to us is all they have. Well, I am in now to be fair so will have to see the outcome. GL.

Cheers. I read an earlier one. So free float PI's hold just under 80%. Pretty sure we will vote our 5% approval lol. I think its worth the risk for the upside, but I am a little uncertain on the chances of the approval. Basically seems like OY shareholders would be saying yeah here have our shirts. Although, I havent had much time to do detailed research. I can see OY are self suspended in March so they are all pretty stuck now anyway.

I bought in early today, probably impatiently and got a little spiked at high 6's, but the mca was and still is low for the asset if approval is obtained.
Anyone have any level view on the approval? I see OY stock was suspended in March. I cant find much on their shareholders and their website says 'under construction' lol.
Some have mentioned it wont be approved on here, some mention its a done deal. Any objective info is appreciated.
Also eyeguy, is someone copying your name on advfn? The tone of their comments of a mr eyeguy on there seemed opposite to your twitter and posts here.
Thanks in advance.

Totally agree Nomadic. Zinnwald is where I expected it, and also just confirms gow HUGE Sonora is. BCN cant stay this cheap forever so if not today then value realisation will happen at some point soon IMO.

Our two projects have a combined, independently estimated NPV of more than US$1.7 billion, a level that far outstrips our current £36 million market capitalisation as of 4 June 2019. We are confident this valuation gap will soon close. I look forward to providing further updates on our progress during this exciting time for the Company.Just madness. Surely its now time to start to reflect this in the mcap value of the company. Even without funding this should be higher. However that is also significantly improved and they are already in discussion re Zinnwald.