Member Info for johnpwh

I hope that the bid breaks cover this week, if only so we can get on with it.
There can be no believable due diligence reason to be extending this process any further. Psychological games are being played to wear down the resistance of small shareholders (as ever in my (very) humble opinion).

Another week passes of sweet FA
Hang on, I said that last Friday

Beginning to regret being suckered back into this share. I was in this back in the George Ogilvie days and that didn't work out.
Not convinced this time will be any better

zzzzzzzzzz........
Wake me up when something happens

jimb2
And again
http://www.asianmetal.com/LithiumPrice/Lithium.html

Agree 'r', if for no other reason that since 6th May when (if I remember correctly) the potential bid was announced, both Lithium carbonate and hydroxide have risen in price on the commodities markets by c.15%

Jam
I think a retrace to 50p if GF publicly say they have decided against a deal is feasible. But i think that would be temporary drop given the strength in Lithium prices that is currently being shown - hopefully the latter will help defeat this bid at 67.5p, A rejected bid should lead to an upside in the absence of other news.

I'm not off. Just increasing grumpy.
There is upside here but fear the upside is 16%. That's not bad in a world of 1% deposit rates.
I note that lithium is starting to move up again making a) the bid more likely to be made b) this an even more underpriced

Good luck Andy. I really don't blame you.
Another week passes of sweet FA

Wise words Dee. Yes I agree that the change of Directors is unlikely. Indeed if successful it would in fact risk that, with a GF holding of 28.5%, we end up with a 'puppet' replacement board. I do however feel that if, and it is a big if, BCN remains in our hands in the long term then the current BOD need to be left in no doubt that their performance is considered by many to be woefully short of what was expected. Being vocal is the least we should do to try to ensure that their conduct in the future is more in line with what S/H want/expect.

Foz, Dee. I would definitely be in favour of removing this BOD and would pledge my shares to the cause. The same way as Parliament can hold a vote of no confidence then so should we as it obvious that many posters have no confidence left in Secker and his fellow directors

MWil
Thank you for posting the link. I see the interview respects GF, as indeed I do. The are playing a blinder. Its our board, in my opinion, who aren't

Foz
'The issue is we can't change anything till we have a formal bid or GF walk away'.
Don't think I have seen a truer statement written here. Everything hinges on this

Foz
I got what you meant, but none of us are happy with this. It will be interesting to see what happens if the bid arrives - will the SP discount it being successful in, say, 6 months time so maybe 62p-63p or will it plummet if GF back out of the bidding process? Me, I haven't got clue any more, all I know is that I think the SP would be higher if this possible bid had never occurred

Foz
Trouble is that when all the ducks are in the row they have only authority to pull the trigger at 67.5p. That is effectively agreed with their S/H and I assume the Chinese authorities. If that is then subsequently rejected, and hopefully they propose a higher figure, then we start the whole protracted process again. How many of us want to stick around for more months of delays?
I genuinely think this is a tactic to grind opposition down until target S/H think 'Ok we'll accept and FFS lets move on'

O dear. I'll wager that drivel was written by an unwilling work experience oik from the local Comp.

The final nail in the coffin. I always regard a Motley Idiot endorsement as final vindication of any thoughts I may have to sell a share. Think I may look for the exit 8am Monday

I'm fairly fed up with this now.
Can't see a counter bid is likely - what would the counter bidder gain? They would have to pay a massive price for BCN to get the required % age for success as the incumbent (I thought that was less libellous than just bent) board has overseen GF controlling 28.5%, which would be nailed on to vote against. That to gain control of 50% of the resource, whose output is already spoken for (for 10 years).
The SP today says it all.

Anyone familiar with my miserable mutterings will know that this extension is no surprise to me.
Although not a natural conspiracy theorist I am willing to believe there is one here. GF is delaying and are showing they are in no hurry to conclude this - in fact they have no excuse not to bid now with the necessary permissions from S/H and Chinese authorities and DD done so recently for other reasons. GF do not suffer from delays as the project will not be delayed by the procrastination, and there is no revenue implications with no production yet so they aren't losing a penny of profit. They gain by delayed financing and by long term holders (Foz, Mr C, who would likely oppose the deal) considering moving their shares on so making this very low ball offer more likely to succeed. And I don't think they could do it without a complicit BCN board who should by now be shouting from the rooftops about how unacceptable this conduct is.
If this bid gets defeated (sadly I'm not convinced that will happen) I would wholeheartedly support an attempt to replace Secker and the rest of the board - they are in my opinion discredited.

I certainly hope for a bid today Foz. As we have recorded before, DD cant be taking this long given GFs recent increase in interest in both BCN and the project itself