Member Info for jimb2

Ganfeng EGM link from tomcast-14 on the BCN board:

https://www1.hkexnews.hk/listedco/listconews/sehk/2019/0814/ltn20190814003.pdf

see item 12 in the table:

As not more than two-third (2/3) of the votes held by the Shareholders and proxies who attended the
EGM were cast in favour of the resolution, the resolution was not passed as a special resolution.

For:
65.1593%
Against:
34.8407%

Not as bad as I thought, worth reading the pv magazine article again and with the voting so close it paints a very different picture:

https://www.pv-magazine.com/2019/08/14/ganfeng-lithiums-hong-kong-based-shareholders-rebel/

You could very easily believe that 65% of holders voted against whereas it now looks like those holding 65% of Ganfeng voted on the issue of H shares of those voting 65.1593% were in favour just short of the 66%+ required and in fact just 34.8407% voted against.

Of course, the outcome is still a no vote but not a 'Rebellion' by any means.

Well if this was a Brexit vote we wouldn't be in such a mess now!

agree with that tomcat-14,

and yes, your post on the Ganfeng H shares shows it was very tight:

As not more than two-third (2/3) of the votes held by the Shareholders and proxies who attended the
EGM were cast in favour of the resolution, the resolution was not passed as a special resolution.

For:
65.1593%
Against:
34.8407%

Not as bad as I thought, worth reading the pv magazine article again and with the voting so close it paints a very different pictue:

https://www.pv-magazine.com/2019/08/14/ganfeng-lithiums-hong-kong-based-shareholders-rebel/

You could very easily believe that 65% of holders voted against whereas it now looks like those holding 65% of Ganfeng voted on the issue of H shares of those voting 65.1593% were in favour just short of the 66%+ required and in fact just 34.8407% voted against.

Of course, the outcome is still a no vote but not a 'Rebellion' by any means.

Well if this was a Brexit vote we wouldn't be in such a mess now!

rock, brine or clay?

https://seekingalpha.com/article/4286259-lithium-spodumene-producers-trouble?dr=1

Spodumene is looking very risky, I feel better about clay and producing battery-grade at the source .

https://seekingalpha.com/article/4286259-lithium-spodumene-producers-trouble?dr=1

No mention of the bottleneck in processing in this article.

Pilbara Minerals June suggesting their reduced output was conversion processing capacity:

While underlying demand for battery-ready lithium chemicals remains strong, delays in the construction, commissioning and build-out of the Company’s offtake customer chemical conversion capacity in China has resulted in June quarter sales of spodumene concentrate being constrained.

I just hope Ganfeng see Sonora producing the end product being less risk than Brine or Spodumene.

Good to see some response to 'potential bad news' for one of our partners (BCN) but maybe the bubble has burst with Ganfengs plans to be number one: DYOR but this is a worry to me!

https://www.lithiumamericas.com/_resources/news/nr_20190813.pdf

Subsequent to the quarter end, Ganfeng has advanced $57 million of the $160 million Project
Investment to Minera Exar to fund ongoing development activities on the Caucharí-Olaroz project.
**The Company agreed to Ganfeng’s request that the closing date for the Project Investment occur
in the second half of August 2019.** The funds advanced by Ganfeng to date, and any additional
funds advanced by Ganfeng prior to closing, will be applied against Ganfeng’s subscription
obligation on closing

Still, I'm hoping that Senora is more appealing to Ganfeng and investment goes ahead__ trade wars n'all

Doh!!

https://www.pv-magazine.com/2019/08/14/ganfeng-lithiums-hong-kong-based-shareholders-rebel/

I do hope this doesn't stall the BCN deal or any potential JV development we are so close!

https://www.pv-magazine.com/2019/08/14/ganfeng-lithiums-hong-kong-based-shareholders-rebel/

Not great timing?

Just a reminder of how the EV is more than a mode of transport and to quote Tony Seba (crystal ball) a computer on wheels:

https://cleantechnica.com/2019/08/13/jaguar-i-pace-sales-have-crashed-dealer-inventory-exceeds-6-month-supply/

'Part of the problem is the I-Pace is a darn nice car but it is not the computer on wheels that a Tesla is. According to all reports'
~~~~~~~~
Tesla is just simply years ahead. I do wonder how the car industry has failed to react in time and do recall about two years back JLR advertising the recruitment of 1,000 electronics and software engineers.

I'm with Tony Seba on the convergence of technology being a deciding factor.

https://www.smmt.co.uk/2019/08/new-car-market-declines-in-july-but-pure-ev-registrations-almost-triple/

Looks like the inner city restrictions have made an impact on the hybrids with full battery increasing just short of x3 over last July and 70% up YTD.

I would say the majority of diesel and petrol hybrids MHEV's have been taken up with private hire and black cabs taxis based on the last six or seven I have used being hybrid.

Still, BEV's are winning on numbers with plug-in hybrids dropping near on 50%.

It's the J curve!

https://www.autonews.com/suppliers/lithium-industry-buildup-outracing-ev-boom

“As the EV industry evolves, battery requirements are changing to address greater safety needs, range specifications, and energy density,” Martinez de Olcoz wrote in a report. The difference, he said, "has raised questions about the ability of lithium producers to keep up with the fast-changing demand profile.”
Lithium stocks will remain volatile, but producers who can adapt faster to the changing needs of their customers are likely to win in the race to dominate the market, de Olcoz said.

Are they beginning to understand that not all lithium projects can deliver battery-grade lithium?

Disruption everyday news:

BP and China's Didi Chuxing (DiDi) today announced they have agreed to form a new joint venture to build electric vehicle (EV) charging infrastructure in China, the world's largest market for electric vehicles. The new joint venture plans to develop a network of EV charging hubs across the country.

Sincere apologies mccarefree, I obviously misunderstood your intentions,

I for one have less to post about because of the supporting evidence that disruption in transport and energy is well underway and is becoming mainline news, EV's are impacting all major car manufacturers and storage projects are now being planned and implemented in hundreds of megawatts and even gigawatts we are way past the point of such things being a vision of the future, it's all happening now!

maccarefree,

such a negative post!

Wednesday 16:46

"Sorry this is all a bit negative but you often query why and where previously frequent posters have gone, so that's my two penn'rth. I really hope that all LTHs get a slice of their hard-earned back but the thrill of being in here has deserted me for now!
GLA"

And your recent posting history (across three shares)

Member Info for mccarefree
Posts
(Last 30 Days)
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Oh well DYOR_!

Okay not mentioned a couple of weeks - Tony Seba 2016

https://youtu.be/hMg6_ShLleQ?t=552

Peaky blinder ;-)

Wow and efficiencies in installation X10 faster.

https://www.tesla.com/en_GB/megapack

Not forgetting 1 Mwh = half a tonne of LCE

Also worth a mention:

https://www.energy-storage.news/news/teslas-solar-losses-offset-by-battery-storage-as-company-installs-50000-pow

In stark contrast, Tesla reported that its Powerwall and Powerpack deployments increased by 81% in the second quarter of 2019, achieving a record 415MWh. This comes after being capacity constrained at Gigafactory 1 through 2018 and a complete stop in production allocation of energy storage products to meet EV Model 3 demand. Tesla noted that its Powerwall product, primarily for residential applications had cumulative installs that had surpassed 50,000 site locations in the reporting quarter.

Shame a shortage of batteries held things back ;-)

Is Ganfeng obliged to release the decision during BCN trading hours ?

Under the program, China’s capital will offer up to 73,800 yuan ($10,727) per vehicle if a taxi operator buys EVs to replace gasoline vehicles that have been scrapped since 2018 or will be scrapped by 2020, the Beijing city government said on its website.

https://www.autonews.com/china/beijing-offers-subsidies-encourage-taxi-operators-use-evs
Eligible EVs must have a minimum range of 300 kilometers (186 miles) and their manufacturers must provide a warranty of eight years or mileage of 600,000 km for EV batteries.

The subsidy program, which took effect July 16, will remain through 2020.

I would hope other governments do similar and eventually spread company fleet cars through other incentives!

Stick that into your spreadsheet Morgan Stanley.

But on another subject:
https://www.reuters.com/article/us-usa-rareearths-trump/trump-tells-pentagon-to-find-better-sources-of-rare-earth-magnet-idUSKCN1UH2L4

Trump tells Pentagon to find better sources of rare earth magnet
~~~~~~~~~~~~~
The Pentagon has already asked miners to describe plans to develop U.S. rare earths mines and processing facilities by the end of July.

Just observing FrankieH, all the little bits of news supporting the disruption in transport and energy is now becoming everyday mainline news.

So slightly off subject a tad (Nikola Tesla) a short 3 part very informative videos on him.

Did you know Edison was competing with Tesla to have DC supply and even electrocuted dogs and cats in front of the public with AC current to deter its use, Tesla demonstrated AC to be safe by passing AC current through his body to power a light bulb, the company eventually siding with Tesla and distributing AC electricity was Westinghouse and at one point they were struggling financially to such an extent that they asked Tesla to reduce his royalty fees, Tesla tore up his contract with them freeing them from paying him royalties as he considered their recognition of his work with AC as reward enough.

That gesture is claimed to have cost him $300 billion!
https://youtu.be/Iie8U5rngwA?t=521

Three-part series part 1:

https://youtu.be/cDxi6ozDwhc

Yes, I will probably make a point of seeing The current war, electrifying!

There are five El Nogalito's listed in Mexico within Google maps, this one is Sonora and has a lithium deposit, it's circa 240Km from Bacanora

https://rocktechlithium.com/el-nogalito-sonora-mexico/