Member Info for johnpwh

I have read several times on here about the UK Governments apparent decision to ban new petrol/diesel new car sales from 2030. I would point out that, although positive, such a decision by the UK is not likely trigger a re-rating. If it is reflected worldwide then yes, but we are minnows in the grand scheme of things.
We shouldn't get carried away or we will make bad decisions

My problem is that I usually spot the dots with relative ease, but I don't necessarily join them in the right order!

I have no idea, but I think there is a pressure these days for adequate non-exec members on the BODs to satisfy the regulators. And if you are going to employ a non-exec you may as well do one with relevant experience!

Over 2 weeks later its still quiet!

That is true Chris, though hopefully that should not be too expensive. Potential fundraising is one of the worries here, leading to dilution and/or loans. Nightmare scenario is running out of money just before fruition without being able to fundraise, but doesn't seem likely - especially if we get a recovery in Lithium prices which must surely happen.
Anyway, SP a bit soft at the end and didn't quite make the 40p. Lets hope we can break above 40 and hold tomorrow.
Had quite a good day today with Bacanora, Aston Martin & BP!

Just an interested observer. The consolidation was 5:1 plus it was originally quoted in euros, so 'gutted' need not be quite so gutted in comparing 0.09 in 2011 with 90p+ today.
I like to keep everyone happy

Good luck with your holding Libero. Its good to have new people who can bring their own research and original thoughts to the board

Nice SP movements so far today. Wonder if its just PI buying after we all mulled things over a the weekend, or the start of a real re rating following last weeks news. Guess its just wait and see so GLA

sorry, that was rubbish. To 50% x £1.2bn = £0.6bn

Not sure of your figures. Is £1.2 bn the NPV of Sonora or as you say BCN? If of Sonora then BCN have reduced from 77.75% to 50% so in exchange for cash have in that sense they have reduced their share of the NPV from 0.775 x 1.2bn to 50/77.75 x 1.2bn, so from 0 .933bn to 0.7717 bn. I don't think you can just look at it like that, there is a bigger picture.

Think you two should go and get a room! :)

Hi Mr C
Had a little read round this afternoon on EMH. Don't feel that comfortable at the moment but I would stress I haven't more than scraped the surface. Seems an EU quango now has 51% of the main (only?) resource for a cut price Euro 29m ( I may have the number wrong), a figure which they reduced from well over 30 million in the due diligence period. What I really don't like is that there seems to be a clause that they can walk away from the deal and get all but a quarter of a million euros refunded - which you would assume would only occur if things are going pear shaped and will really leave EMH in the brown stuff as they would need to find the dosh. That's quite a guarantee to negotiate, acquire a controlling interest with a get out clause! Not sure I need 2 Lithium miners in my life, I'll choose BCN (which with my track record will almost certainly mean EMH is the one to go for!)

Indeed. One thing holding me back is that BCN has just negotiated a long period of hairpin bends not knowing if something nasty is round the corner. Now we are out of that, strategy clear, ownership sorted (unless there is a bid) and the road ahead is straight. Very straight, very long with production forecast in 2023 - and we all know these timelines slip. So what other than Lithium price (hopefully upwards not down) will drive the price in the interim?
I saw the news yesterday of an Australian spodumine miner going into receivership (we know their costs are very high) and of course the UK Government announcing the reduction of the date banning new petrol/diesel car sales from 2040 to 2030. Should help.

Hi Bampster
I don't tend to leave orders, feels uncontrolled unless you put a limit on. And being a cynic I feel that if you put a limit on you magically seem to get exactly that price, not one more in your favour!
With low price dealing systems like iWeb (who I use at the moment) frequently its worthwhile to do a series of small deals rather than one big one - especially useful if you cant get a quote for the total quantity you want. That way you get the deal done and out of the way - also, at least with AIM shares, I often see a better price when buying or selling small lots which
compensates for the multiple commission charges (only £5 per deal on iWeb). Worth looking at.

Mr C
EMH was not a share on my radar (how I hate expressions like that!) and maybe I have missed the boat there. Congratulations on your investment there, pleased for you.

Monday could be interesting, after a weekend with the market closed and people having the time to reach their own conclusions about yesterdays RNS. If the SP was to drop (and I am not suggesting it should or that I am expecting it to) then I will probably top up. I have a core holding and occasionally do the odd trade, this week I bought some on Tuesday and sold them yesterday at just over 36 just after the RNS was published. Paid for my groceries until the end of the current lockdown!

Well, another week passes and still going sideways at the bottom of the curve.
Maybe next week......or the week after.....or........

Yes 'r', as I mentioned before Ganfeng has 2 investments in Sonara. 'Direct' 50 % and 'indirect' (through their c. 25% of 50% via the shareholding in BCN). They have influence not only through the direct investment (I assume that gives them significant voting rights there) but also by having representation of at least one board member on BCNs BOD (think its their vice president).
If BCN needs more equity funds that may occur through a rights issue in which we are all invited to participate or a more targeted placing to certain shareholders (Ganfeng and M&G perhaps). If Ganfeng were to increase their S/H under such an issue they would probably have to get an exemption from making a full bid for BCN. Either way implies dilution for us (unless we take up any rights offered, for which we will of course have to pay out).
Ganfeng are going to want good value here, make no mistake. They are a bigger business than BCN, they aren't daft, they know they are in a strong position. But arguably BCN would go nowhere fast without them, making slow progress until eventually running out of money without repetitive placings or expensive debt. We've all seen this pitfalls of this type of project, and if companies are not careful its not their shareholders who reap the benefits. Ask any Sirius shareholder.......

Yes, echo the thanks for information about the partial ownership by KDNS of some of the assets

Sjb
Thank you for the figures
John