Good PFS update, however the placement is a bit fishy. We had no need for capital yet. Even if we did, why them and not existing holders? They have no particular use to us, it's not like Tesla initiating a position to get a director in, which I would understand.
RE: #@*$ING MASSIVE PROFITS !!!!!!!!!!!!!15 Jan 2022 05:02
Fantastic news. If only we had a mine or at least some reliable information about how/when we are going to get there exactly.
The CEO is basically MIA and he has no credibility left at this point - no timeline he ever talked about was kept as far as I remember. This mine should already be up and running for quite a while now according to the investor presentations at the time when I bought in. Looking at our competitors, I paid quite a high opportunity cost for my mistake. Only the fundamentals keep me here because they are so good that no amount of incompetence and mishaps justify a share price this low and a rerate must be coming at some point. Yet, I would prefer to continue with a different leadership team for optimal shareholder returns. Not advice, DYOR
Probably some disappointed KDNC holders moving some money over here. No news really, projects progressing fine, but it was a reality check for some dreaming/speculating about imminent Sonora JV sale or acceleration, etc. So many of those wanting more exposure to lithium will pivot to EMH.
Thanks EV and docmartin for the decent and constructive posts today. Sorry for the remaining posts by a few of us arguing about what we do or don't consider decent and constructive and how paranoia makes for a toxic board. I'll go back to ready-only to allow the usual posters to return to their bubbles.
That will save me time and save them the worry that I'll somehow implant in their minds that Gangfeng doesn't need to pay a high price for Sonora. Now, if it does, I'll be happy to be wrong and richer. If it doesn't, the gang of optimists can turn on KM about how he sold us down the river, same as BCN board. Hopefully if I remain silent, I won't mind trick Bannor into thinking that it was a good deal, which is obviously so important to Gangfeng that they recruit agents for board like this (that's next level stuff, might need to give me the contact of your dealer).
@Bannor, sorry for disturbing your bubble :) You could for example allow plurality on the board without labelling anyone calling out extreme optimism a deramper and asking them to divest. With this volume, that would do wonders to the share price :D
Ah, that should read "chat and fun" to paraphrase what you wrote earlier. Anyways, I'm serious and have no intention to start filtering people I disagree with. That's how I ensure I'm not in a bubble, and that I recognize when it's time to exit.
Well reasoned, thanks. I see a small contradiction about how it was BCN's best interest to keep the resource unproven but it's somehow a positive when it comes to negotiating with Gangfeng. I also held BCN, I don't think that deal was fair and square and I expect them to treat us no different. We cannot find our share of studies or the plant, and we need the money. We don't know a lot of contractual details. It's too early to put a value on that. In any case, I expect at least some of the fringe assets to bear fruit, the more the better. As you say and I said myself, I would hold on to DEV to change our risk profile and open up opportunities (provide revenue for exportation, investments). It'll do wonders to our share price in time, I'm sure of that.
Also, the witch-hunt. Seriously ridiculous. Like, implying that I don't have what I claim and that I manipulate because I don't fantasize and urge realism. It's the most toxic thing that can happen to a board. Btw, I don't filter anyone - not Booobla, not jimb2, not you. I just assign less face value to the content of posts
I would not put numbers close to or over £100M into EV's mouth for our Sonora JV. If memory serves me well, he discounts it to about 20-30M.
Anyways, not on the same page, it's fine. I shared my opinion that investors like me might pass on KDNC based on the chart and fun on this board and that this could be avoided with less creativity (well, fiction).
MBW, I thought I was clear about what "brought me out". It's the depressed share price despite of Amapa progress and EMH holding, and my concern that delusional cheerleading might be partially the cause. Take a look at EV - some good stuff from good sources, cautiously optimistic commentary. That is valuable and basis for discussion. Imagining Tesla gigafactories on a plot of land bought by a Chinese large cap miner - who btw pretty much robbed BCN holders - isn't. Calculating how much the minority share of an unproven resource might worth for the same Chinese large cap... with validations implying that they'll for some reason pretty much pre-pay the whole imaginary NPV share at today's prices is not what serious people do. Call me a deramper, I call myself a holder of over 500k shares with realistic expectations. We don't need fairy tales for this share price to explode, we need Amapa and EMH to deliver. "Fringe* assets are a bonus.
MBW, unfounded optimism isn't contribution either. Twohits and I and presumably others think that too much cheering hurts our credibility and our share price. I do look at discussion boards when I research a stock and I'm more likely to invest when I see thorough research and discussion based on facts. When it aligns with what I think based on the information I have, I'm more likely to think that I'm not making a mistake by initiating a position. It's a confirmation that my investor peers are serious people.