Member Info for jam2morrow

@johnpwh - I thought we'd get one. 2 weeks ago they RNS'd suspension and said, i think,there will be no updates. Last Thur 3pm was update with, we think,M&G %age.......and my conclusion is......don't know!.....clear as mud
I was kind of anticipating an RNS saying GF had bought some themselves, but no dice. Maybe this Mexican standoff is becoming an issue, although I don't really understand why BCN, GF and KDNC is ok but GF and KDNC is not

If u vote to accept the deal then your shares will be held in escrow and you will not be able to trade them.
This is my understanding from the offer document.
This has to happen, when u think about it, because it stops the shares being counted twice,as in :
U vote for the deal, then u sell ur shares.....and then the buyer and new owner also votes for the deal ! etc etc

sp creeping up, not sure i trust that uncrossing trade tho
Acceptance level update tomorrow i think. Maybe showing over 50% ?

They're expecting to get more than 50% shares in total ?
If the buyers are GF :o)
Weiss have been buying steadily

You seem to be more informed than me, but if she paid for more than she received then whats the problem ? My reading is she was a regular payer to begin with and thats why SML gave her credit - which she never paid back

@Gorsuch - Brenda must have sold it on, surely. If it was stored without being paid for then its still SML's if its there ?
I think its long- gone but the legit users at the end of the chain would still be there and still require magnetite ?
What a mess !

My feeling is that Ganfeng will want to use this Lithium to supply the American market. Ford have a big assembly plant at Hermosillo, not far from the BCN pilot plant. It maybe that Mexico itself sees possibilities of battery manufacture using Lithium supplied by G/F. Theres a lot of unknowns but we do know that auto business in Mexico is big business. Whether the U.S or North America in general are early adopters of EV's remains to be seen, but it would not make any sense to export Lithium to China and then for Mexico to import batteries from China

worth a shot with takeover panel @Dee
''Not withstanding the suspension we still urge shareholders to notify their acceptance'' .....Why? It serves no purpose to s/h's to put their shares into escrow for longer than is necessary.
Do you or other posters know how ii's would hold their shares ? I'm guessing that ii shares would not be in nominee type accounts like PIs and therefore ,if they wanted to accept, then their %ages would be showing already.
So I conclude no ii's have accepted the offer as yet ......?

@ RB , yes, would agree pretty much. The Lithium price at the moment has climbed back to those previous highs and I suspect that is giving some ii's food for thought re their acceptance. Might be a spike as industries struggle to re-start after covid worries, but everything seems to be pointing at much increased demand.
The way this has been dragged out has worked against GF (and our BoD); if they had offered a straight 80p initially I think it would be done by now.
This Mexican anti-trust delay is an interesting development, maybe just red tape, maybe something deeper. My gut feeling is to guess sp drop on Mon; but as noted, we had a sp spike on Fri just before the RNS........Hmmmm

@Tomcat - Yes I agree the deal was poor when it was first endorsed by our BoD, and it gets poorer all the time it drags on with Li prices rising. I don't know the ins and outs of GF and what responsibilities they have to their s/hs but I would say if they want to make an improved offer (however its done) then they would have to go back to them; and to get it OK'd by Beijing.
This is becoming a bit of a mess. The ZNWD distribution over-complicates it. If they are serious about owning the company they should start buying in the open market. Maybe they're waiting to see if they get 50%

''our profits'' will be what the GF shareholders would have been expecting as there own, if they bought the company.
If I was GF shareholder and I was buying less of BCN; or if I was paying a higher offer for the 'original' BCN then I would still want a say. It would be the same difference wouldn't it @Tomcat ?

Updates...... ZNWD shares distribution on course....

agreed @ChameleonMan , but the prolem as I see it, is not so much Ganfeng as the BoD of our company.
If shareholders take responsibility and reject the offer, then we are left with a BoD in charge who seem to have no desire to continue the job.
I agree that the offer is poor but we need to think carefully about the path forward if the offer is rejected.
I've said it before, but if GF want to buy the company then why don't they start buying the shares? If it pegs them to a price, then so what? anything under 80p is a steal IMO.
Have to see how this pans out, but I don't think any nominee accounts have notified votes yet. It's the likes of M&G that will swing it, wonder if any discussions are happening behind the scenes?

As I recall with MTFB after their CRL , a meeting with FDA was requested, that took about 3mths, then nothing happened until the minutes from the meeting were received - another month ; then another meeting supplying data, wait for minutes.
It took about 6mths to find out, finally, that the drug could not go ahead.
This is different in that the problem seems to be technical/manufacturing. But NB there were issues (plural) to be addressed and the issues, as per RNS, were ''mainly'' technical and manufacturing.
Could do with an RNS to set out plan to re-submit but I suspect the first steps, as outlined above, will have to be taken and it will take time.
AIM is not a patient market

This is where the offer becomes a bit of a nonsense - if i accept now then my shares go to escrow - i can't trade them. There is a way to get them back out again but i bet its not easy. TBH the ZNWD shares doesn't make the offer that much more attractive because of the complications. If it was a straight 73p per share I think there would be more takers

@feverclucker - they wil still be entitled to ZNWD shares up until the offer goes unconditional (if it does) which is provisionally the 14th Nov.
They need to buy and accept offer in time to get.... About 7% upside from 67p to buy ?

Yes, more hope than expectation, but peeps were paying 67.5 last week. If it becomes unconditional then surely its safer ?
My issue, and I suspect other PI's, is that I would rather sell in the open market than wait for the ZNWD shares. If I accept now that means the open market option is unavailable.
The other thing is GF buying....they can....everything they buy up to about 72p saves them money

We should get an announcement tomorrow stating the level of acceptance so far .
I wonder, if it is 50% + , if the share price goes over 70p ?

@rodionx read thru the 'timelines' thread- it seems that it is possible to allocate negligible value to the company and so disposal is not necessary

if the market believes this is a 90% approval chance, then it should already be priced in, and a rise between 10 - 20 % to be expected ?
I've been bitten once by an FDA decision and so now I'm twice shy.....wouldn't surprise me if they asked for clarification/more data or similar.
I do think there is much more chance it will get full approval. Good luck all