Member Info for KLUCK17

In my view you should compare total initial cost to production and not one part of the plant. Also LAC uses $12k for the price of li vs BCN $11K

See the link provided by Newboy https://global.handelsblatt.com/companies/miners-scour-german-mountains-for-lithium-910464

" He wants the banks to co-finance the projected �120 million ($149 million) investment in the new mine to be dug here at a depth of up to 300 meters. It�s due to go into operation in 2021. Under the plan, chemicals company BASF will refine the lithium at its plant in Schwarzheide, Brandenburg." Talk of finance before the DFS is published. They must be quite sure of the results. Zinnwald goes to operation in 2021 just one year after Sonora

In my opinion both custodian/nominee holders and Bacanora are responsible for this situation. The former for not taking action before the deadline set by Bacanora the 18th or the 19th of March and the latter for requiring this action in the first place and if the deadline was missed the need of a letter of transmittal. Why did they not convert the shares bought originally through CREST automatically to Bacanora Lithium shares? .

addicknt I have my doubts that you may sell before the re registration of the shares. The old shares have been delisted and the new ones are not in the account as yet.

That's what I suspected. They failed to take action and needed to send a Letter of transmittal. (see my post Friday 11.27) Though I am here for the long term I like to have my shares available for immediate sale. I hope we get the shares before a possible announcement of a rights issue.

Apparently they failed to take action prior to the deadline and now they need to send a letter of transmittal which will take a while.

As at 22/3/2018 their holding was 10.04% 13,456,784 (RNS 22/3/18) As per todays RNS 10.03% 13,456,784 previous position 10.20% Date on which the threshold was crossed or reachedvi: 26/03/2018 Confusing..

Re previous re- domicile attempt( 2016) After some digging I managed to retrieve a reply I received from BCN on 3/8/2016 concerning the need for a letter of transmittal "Thank you for your email and your request. If you bought your shares in London and are quoted on AIM, can you please tell us if you have used CREST or DLS, then you do not need to sign the letter of transmittal. The shares will be automatically transferred across over night on the Crest system on the night before readmission on the 17th August. Everyone else will need to sign the letter of transmittal." Battuya Corporate Manager

@adv11 what I make of this is that if your shares were purchased through CREST no action is needed.

Good morning I think this time they did their homework and everything will be fine. I bought all my shares through CREST and so I thought I need NOT send any transfer instructions or letter of transmittal. what is your understanding?

�Additional information The company has announced the re-commencement of the process to re-domicile from Canada to the UK, to be effected by way of a plan of arrangement in Canada, with existing shares to be exchanged for shares in a new UK holding company, Bacanora lithium plc. Di holders will need to submit the instructions by 19mar18 in order to receive new ordinary shares in Bacanora lithium on or about 21mar18. Clients who send an instruction prior to their stated deadline are not required to complete the letter of transmittal. Failure to lodge letter of transmittal: The below applies to shareholders who wish to dissent on the offer in the event that any Bacanora Canada shareholders fail to lodge the letter of transmittal in accordance with the instructions set out in the plan of arrangement and the circular (non-claiming shareholder). They will not be eligible to receive their Bacanora UK shares until such time as the letter of transmittal duly completed is so lodged. In the meantime, the Bacanora UK shares to which they would otherwise be entitled (unclaimed Bacanora UK shares) will be held on trust by computershare trustees (jersey) limited (the trustee) pursuant to a trust to be created on or before admission pursuant to a trust deed. Under the terms of the trust deed the trustee will hold the unclaimed Bacanora UK shares on trust for the company until such time as the non-claiming shareholder lodge the letter of transmittal duly completed. Non-claiming shareholders should be aware that under the articles: In the event that a non-claiming shareholder does not lodge a letter of transmittal duly completed within 3 years of admission any entitlement of that non claiming shareholder to his unclaimed Bacanora UK shares shall lapse, and such unclaimed Bacanora UK shares shall be transferred by the trustee to the company a non-claiming shareholder shall have no right to any dividends which are declared in respect of the unclaimed Bacanora UK shares at any time prior to the date on which they lodge a letter of transmittal, and under the terms of the deed the trustee shall have the right to waive its rights to receive any dividends which may be so declared.� Am I correct to think that the above applies to shareholders who bought their shares from Canada and that those who purchased them through CREST London are not required to take any action regarding the re-domicile? Your replies will be appreciated.

Thank you for the link.

@addicknt Could you please provide the link/poster to PS statements on financing as I cant trace it thanks

Hanwa must have more than 10% to be eligible for new share issues. "Pursuant to a shareholder rights agreement dated 7 April 2017 between Hanwa (1) and Bacanora Canada (2), which is stated to be for an indefinite period of time Bacanora Canada has agreed that:  for as long as Hanwa holds more than 10% holding in Bacanora Canada, Bacanora Canada must give notice to Hanwa in the event of a further offering of new Bacanora Canada Shares or convertible securities in Bacanora Canada in order to allow Hanwa to participate on a pre-emptive pro rata basis in order to avoid dilution of its interest;  Hanwa has the right to have a representative appointed to the Board immediately and for as long as it holds at least 10% of the issued Bacanora Canada Shares, and Bacanora Canada has the obligation to propose one 80 "Hanwa nominee" to be elected (or re-elected) at each AGM of Bacanora Canada;  the right to have an appointed representative on the board shall expire in the event that Hanwa ceases to hold 10% of the issued share capital of Bacanora Canada for any continuous period of 6 months or more. It is anticipated that the rights and obligations of Bacanora Canada under the shareholder rights agreement will be novated to the Company with effect from, and conditional on, Admission. " Apparently similar terms and conditions for Next View

So far they managed to raised funds by new share issues without diluting the share price. Lets hope that this trend will continue with the new issue for financing.

for battery minerals https://www.reuters.com/article/bmw-commodities/bmw-close-to-10-year-supply-deal-for-battery-minerals-faz-idUSL8N1PZ5FI

I believe point 4 is the most likely scenario in case of a takeover Why bother change the name of our Zinnwald assets if a full TO is on the cards?

Good morning TC Do you have info of what is the proposed new name & why do you think they decided to change the name of Zinnwald lithium? Do you believe that Zinwald will be part of the package in case of a deal or that BCN wiil sell only Mexico. Well that's what I believed so far.

its lithium An interesting article. by Andy Home dd 7/02/2018 The author writes amongst others that: "It may not feel like it to the owner of shares in a lithium junior, but the lithium bull market is marching remorselessly onwards, with prices outside of China still playing catch-up. " https://www.reuters.com/article/lithium-supply-ahome/column-why-tesla-is-turning-to-chile-for-its-lithium-andy-home-idUSL8N1PX4G1 Enjoy the reading