Member Info for johnpwh

Hintza
I like your posts, you come across as well researched and educated. I have seen your posts over on the BMN board, but I no longer post there as I found it an unusually toxic and unpleasant place. Your depth of understanding of BCN and BMN is, however, very helpful

This looks like an unexpected gift for a few of you to bail out. Take it

Sorry Dumbpunter I didn't deliberately get your name wrong, just one of my frequent typos

Gumbpunter
I think you are mistaken about the reaction to Bob here.
I find this board one of the most balanced, friendly and inclusive that I have participated in. Had Bob been a long term contributor, whether enthusiastically pro or moderately negative then no one would have been concerned.
But we have here someone who joined LSE apparently to do nothing but but deramp BCN regularly from his first post on day 1. Why? Look at his date of joining history and subsequent posting history . Many posts, usually long, every single day, apparently with the sole aim of condemning this company. None of us mind a poster cristising (check mine out on Arian AAU yesterday) but this isn't about that - it is a gut instinct that this person has an agenda. bit like meeting someone in the pub first time and thinking 'what's your game?'

Wasn't having a pop at you Divvy, or even really at AAU. I just find this company a disappointment now given its potential (and my perhaps OTT enthusiasm) couple of years back.
Now clearly there is no parallel universe in which we can see what would have happened if the Ozaltin deal had never occurred. But given the increase in POG in the intervening period, and the fact that Salinbas and Cyprus (and even Tavsan) are many years away from production, then I still question why such a huge sweetener was given for the new JV in the form of sacrificing the share in Red Rabbit. What does it say about Salinbas that a JV deal couldn't have been struck just on that asset?
Calculate the additional free cash flow given away that we would be receiving from the original JV right now. Such reliable cash flow could/should have funded a regular dividend rather than a Gee Whizz one off divi followed by nothing (as seems likely).
Going quiet again now because I know few on here like my views on the deal! Have a good day

LTH too. However I read these RNS with mixed feelings, questioning why the BOD gave away so much, so cheaply.

Dee will you calm down. Originally you said that the share price would by 20x once in production. Then you say that we can force Ganfeng to pay 500p as they wouldn't risk reputational damage. i like your enthusiasm but you have to start talking sense and back up your arguments if you want to be taken seriously.

For someone with little financial interest in this company he seems to be devoting a lot of time writing about it. I say he, may of course be like Bob in Black Adder so inn these enlightened times maybe I shouldn't jump to conclusions.
I've now filtered, think I've seen enough

Abbas I understand your point about Hanwa but what are you implying about M&G, given that any financial incentive given to M&G would also have to be given to all shareholders?
M&G are a very highly regulated UK Financial Services company. I do not believe that they would risk their position by entering into any underhand or undeclared deals.

sorry for the typo, foz not fiz! Yes, we've pretty much talked it through until we get any more meaningful RNSs

Agree on all of that Fiz
We wont get a vote until there is a bid, and that must be kicked off by GF by June 3rd unless there is agreement to extend that date? I also expect the larger shareholders have been contacted. Also had crossed my mind that maybe BCNs assets may be split with GF getting just Sonora and znwd staying in the rump of BCN. That would seem a way of maybe avoiding a deadlock with no one losing face?

Yes bluegrass, simply that. If Ganfeng are serious about this I don't think M&G will block the deal, they will simply look for a higher offer for their vote. If M&G are eventually persuaded to vote for than its hard to see the bid being defeated. Ganfeng want control

BCN the company not surviving as a (quioted) company, not the Sonora as a mine. I suppose there may be reason that they keep Bacanora as a 100% owned subsidiary but that isn't going to benefit us

Yes it will trade at a discount, but not as large as at present.
I think M&G is more likely to force a renegotiation (ie above 67.5p) as the price of their agreement rather than block the sale. That wouldn't be true of Hanwa, but their holding isn't large enough to make the difference.
If GF are really serious about this then, despite my intention to vote against, I don't see BCN surviving.

Exactly raxfactor. I have my account set for divi reinvestment. Just wondering if after divi/ share consolidation I will end up with the same number of shares as now - something tells me I wont!

I haven't those stats, but in a market as weak as this is/ is threatening to be at the moment I would have thought that the chance of the bid succeeding (at the current proposed price) increases. Any thoughts?

45 or 42? I thought you had sold out on 6th May wildtiger?

Bob
I have nothing against new posters. The opposite in fact because all new views are useful. Equally I have no problem with people with less enthusiasm than myself and the others here for BCN, such a view can prevent our rose coloured spectacles from obscuring the true situation.
The problem I have with your posts is that you have apparently literally just joined this LSE forum with the sole intention of casting doubt of this share. Now while spending your valuable time in such a way could mean you are a selfless human being trying to save us deluded souls, I personally doubt it. To join lse just to critisise BCN when you say you have only a nominal share holding is very odd behaviour, and I personally will not react further to your posts. If others do that is up to them, but personally I hope they don't encourage you

Foz, I'm sorry that I cant match your tally but I will be adding in excess of 200k to that

Hi perry
Independent director, for the purpose of the current situation, is specifically defined in the 6th May RNS.
I looked it up (search the text for 'Independent director') and from memory means the BOD excluding GF representative(s).
John