Member Info for jam2morrow

@bob - good work ! how does that cost compare with Thacker pass ?
I've put this link up on bcn board before, its old, COE's time, but they were running pilot here, no acid. Worth a watch https://www.youtube.com/watch?v=hkMN_Y9DGJ8
I take ur point about power and i assume roasting process will be a huge cost, and that Mexico is not immune to power cost rises. Ironic that Solaworld, the previous ZNWD owners didn't survive to have their day in the sun.
Maybe leaching with acid can save some money? maybe they need acid to produce a hydroxide instead of the originally intended carbonate ?
I think we're arguing about how many flies on a horses backside. It depends on what u want to believe and how u want to spin it.
Clay will have its day :o)

If GF make an improved offer then they must transfer it to the acceptors of the original offer. If they were to buy on the open market then that wouldn't constitute a new offer ? Who knows ? Messy

@bob - good spot. Looking back through the different presentations, the sonora clays have been touted by the company as an acid free process. If u read thru the process in your link acid isn't mentioned ; but then is included , as u spotted as an 'appendix'.
I remember reading Thacker pass would buy bulk sulphur and manufacture their own acid because they would use so much. The clays are different tho and the processes will be different to suit

Bob, the pilot plant in sonora has been producing carbonate for a long time, without using acid. 'Clay' is a very broad term and the types of soft rock at Thacker pass and Sonora may have very different properties

28.8%, but ur right, it does become a nonsense when they hold %ages of the component parts.
There is a mention in the offer document that GF are able to buy on open market
Hypothetical, but, say GF have 60% acceptance and Mexico gives approval. How much would sp rise if they try to buy up to 75% ? or would they approach ii's and do it off-book ?

Likewise @onlinechicken. Thats one deadline at 9th nov and now a new one for 23rd. Same letter, just changed the dates. I don't see the point in accepting while the offer is suspended. If i think i can see a better short term investment then i want to be able to sell up ( thought about Marks and Sparks the other week,but not brave enough!)

@EV bull - from the annual report rns 8th March, scroll a long way down to sonora project:
As previously reported to shareholders, Bacanora is challenging the validity of the previously reported 3% royalty over the MSB concessions within the Sonora Lithium Project, payable to the Orr-Ewing Estate, and is seeking a judgment of the Court in Alberta declaring such royalty invalid. The basis of Bacanora Minerals Ltd claim is that the royalty was originally granted based on a negligent or fraudulent misrepresentation by Mr. Orr-Ewing that he held a pre-existing royalty granted prior to the acquisition of the MSB concessions by Bacanora Minerals Ltd. The Company engaged in voluntary, independent mediation in early 2019, but was unable to reach an agreement with the Estate's advisers. The Estate applied for a Summary Trial of the action in December 2019. In February 2020, the Alberta Court decided to hear only the preliminary issue of whether the action is limitation barred.
Its just the MSB concessions that the 3% claim is on. The REM jvs came later,

https://www.youtube.com/watch?v=hkMN_Y9DGJ8
hopefully the link works ok. Should be interesting if u've not seen it.
Wonder what happened with the borates plans ? i haven't heard borates mentioned for years
Colin died in 2016. His wife Fleur died in 2015. Fleurs name is given to one of the Sonora licence areas

@EVBull -''The FECC is currently considering the matter and is in active discussions with both Ganfeng and Bacanora who are providing further information to the FECC. Ganfeng will provide an update.........''
You would assume KDNC have some involvement in said discussions. We can only guess. I can't see GF doing KDNC or the remaining BCN holders any favours tho

@inspectorG - lets assume the Mexican antitrust gives the go-ahead and then %age uptake for the offer goes between 50 - 75%. If Ganfeng then decides to go ahead, they distibute the ZNWD shares.
At this point, i'm thinking who wants to buy in ? Its a messy situation and would people want to invest in it ?
On the other hand, the people still holding have pretty sticky hands, and if they didn't want to sell at 67 then they won't want to sell for less?
My reasoning is sp stays flat at where we are, maybe drops a bit after the distribution.
All depends on GF, if they really want more than 75% then price seems to have to move upwards. My feeling is they are playing a long game and there will be no big sp rise short/medium term.
All IMO of course. How long for a mexican decision ? 2 weeks?.....2months?

@Bob - you'll have your work cut out muddying the waters on this board - stick with BCN, we're amateurs compared to this mob :)
I have bought a few here, but i think this price is now tied to the iron ore price. Difficult to see how the sonora JV's pan out; for what REM paid for them, KDNC will cleary see some uplift.
Worth remembering that the KDNC jv's are NOT handicapped by the COE estate %age.
Lots to think about

@Scotty - your shares are now placed into escrow because u have accepted the offer - u cannot trade them. There is nothing that u can receive, money or Znwd shares, because the offer has not become unconditional. It will become unconditional if the Mexican authorities approve the deal. At the moment the offer is suspended until/if this happens.
It is possible to take your shares out of escrow but it may not be straightforward and u will have to contact your broker about this.
If the Mexican authorities rubber stamp the deal u will get the 67.5p and ZNWD shares; if they don't, I assume u will get your shares back......messy ain't it !

nominee accounts had their acceptance deadlines earlier this week and would have relayed the info giving the % increase, IMO

So above 50% now and BCN still urging s/hs to accept the offer. They have not passed on the offer suspension info to the brokers tho and this needs to be clarified for everyones sake.
I wonder how much effect the KDNC jvs have on the Mexican antitrust decision ?

thursday is acceptance level update day. Seems to be optional whether its RNS'd since the suspension; but a lot of PIs with nominee accounts would have passed their brokers acceptance deadline this week, and may have voted:
Acceptance update ?

has happened a couple of times recently, but then back down again. I've topped up under 5 and prob will again. Volumes very low tho' and i suspect will flatten.

@andmillsy - I got some useful feedback from ii.
To paraphrase - they said they were trying to get an update from BCN and ''suspected'' there would be a timetable revision which they could then pass on to shareholders; but as yet they had no new info, and so, deadline still stood.
I think a lot of PI's may be pressured to accept because of the deadline. If the Mexican antitrust thing had passed i would have prob accepted but offer could be suspended for a long while and i don't want my shares in escrow for no reason; so i'll let the deadline go, and keep my fingers crossed

To be fair to the brokers, they're probably still working to the original timetable. I suppose its in BCN/GF interest not to notify them of the suspension

received a message from my broker (ii), that if I want to accept the offer, the i should do so before 23:59 tonight.
I've been in touch and explained that the offer timetable is in suspension and suggested that the deadline needs to be ammended. The corporate actions team are ''looking into it''.
I expect this message i received has been cc'd to all of their BCN holders.
Has anyone else had a deadline from their brokers?

must have been bought by two seperate parties, with each still being below 1% ? Otherwise, i think it's next day to notify.
I know for sure that neither one was me