The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
tomcat thank you for the info but can you elaborate as I find it hard to assimilate it?
EV Metals Group Plc 10,000,000 18.6%
Pm Ploutonic Metals Ltd. 6,422,007 12.0%
Harold Andrew Daniels 4,490,550 8.36%
Pierre Jules Richard 3,689,000 6.87%
Wentworth Ltd. (United Kingdom) 2,333,332 4.34%
Michael Stephen Johnson 1,990,001 3.71%
Stephen Catterson 1,000,000 1.86%
Martyn John Churchouse 850,000 1.58%
Harold Andrew Daniels is director of PM Ploutonic Metals ltd & thus he controls directly and indirectly 20,36% of CMRS share capital.
Weiss Asset Management LP: 14,409,142 s 3.75%
Sand Grove Capital : 8,281,500 2.16%
They are taking a long position. .....
John,
Thank you for your clarifications. Basically, we agree.
Best of luck
mrcautious I find it hard to believe that GFL made the offer without probing the Mexican authorities first.
Yes, john why do you think we will lose everything if the deal is withdrawn?
It seems M& G have accepted
as per RNS
"Notwithstanding the Timetable Suspension, in accordance with Rule 17 of the Code, Ganfeng is today providing an update on the level of acceptances received under the Offer. As at 4.00 p.m. on 27 October 2021, Ganfeng had received valid acceptances of the Offer in respect of a total of 53,652,640 Bacanora Shares representing approximately 14.0 per cent. of Bacanora's issued ordinary share capital, which Ganfeng may count towards the satisfaction of the Acceptance Condition. So far as Ganfeng is aware, none of these acceptances has been received from persons acting in concert with Ganfeng.
In addition, Ganfeng holds 110,933,697 Bacanora Shares, representing approximately 28.9 per cent. of Bacanora's issued ordinary share capital.
Accordingly, as at 4.00 p.m. on 27 October 2021, Ganfeng holds, or has received valid acceptances in respect of, a total of 164,586,337 Bacanora Shares (representing 42.8 per cent. in aggregate of Bacanora's issued ordinary share capital), which Ganfeng may count towards the satisfaction of the Acceptance Condition|"
I am invested here and certainly I want the share to fly. However, let's keep our feet on the ground. There are, many milestones before extraction begins and money start flowing into the coffins of CMRS and its shareholders: Analyse and standardise samples, environmental issues to satisfy and mining licences to be obtained, just to mention a few
With hindsight i wish I sold all my shares at the early days of the announcement of the TO. I reinvested a small portion I sold in another stock and I am doing very well but more importantly the prospects for further growth are good.
From the extract of the RNS quoted bellow one can infer that GFL are very confident that they will receive the Mexican authority's approval otherwise why urge investors to accept the offer the soonest? In any case, why investors would accept the offer now and render themselves unable to sell if circumstances change or simply, they change their minds and want to be out? Could the announcement be a way of avoiding the weekly reports of acceptance? ("The Panel has further confirmed to Ganfeng that Ganfeng's obligation under Rule 17.1(a)(i) of the Code (to make announcements on every seventh day following Day 21 setting out, among other matters, the number of Bacanora Shares for which acceptances of the Offer have been received) has been suspended until such time as the Mexican Antitrust Clearance Condition is satisfied or waived and the Offer timetable has been resumed.")
"2 Action to be taken
Notwithstanding the suspension of the Offer timetable referred to in this announcement, Bacanora Shareholders who have not yet accepted the Offer are urged to do so as soon as possible in accordance with the following procedures:
· if you hold your Bacanora Shares, or any of them, in certificated form (that is, not in CREST), you should complete and return a Form of Acceptance in relation to such certificated Bacanora Shares as soon as possible; and
· if you hold your Bacanora Shares, or any of them, in uncertificated form (that is, in CREST), you should ensure that an Electronic Acceptance is made by you or on your behalf, and that settlement occurs, in relation to such uncertificated Bacanora Shares as soon as possible."
@jam Totally agreed
@Johnpwh Your Q to tomcat is intriguing. Perhaps a lot of PIs that are in good profit will decide they had enough and move on. Thus, I believe the chances are that the sp will go down than up unless we have a "good" RNS.
@tomcat-14 you must be quite sure that GFL will improve their offer as you are still of the opinion "strong buy".
@mrcautious I am not so sure M&G have accepted. If they did why GFL still refer to a letter of intent?
Due tomorrow. Hope Tomcat is right and they surprise us with an improved offer by way of distribution of the money held in the reserve account.
Thus, with M&G shares they only need circa 8% to reach 51%
Do you know any other junior/explorer /miner to have income before the BFS or even the PFS for the mine has been prepared?
I find it amazing and hope our investment in AMAPA will turn out good and reward me for the 8 years I have been invested in REM/KDNC
https://investorintel.com/market-analysis/market-analysis-intel/china-pays-full-value-for-neo-lithium-the-bull-market-has-arrived/
We could be offered a much higher price if our bod did not mess it up. The problem started with their inability to secure a good financing deal. The first attempt they were offered 70p by investors and terminated the public offer saying that it was too little but 2 years later the sell off at 25p to GFL was ok.
Simon Moores tweeted today that lithium price may reach $40K Currently the price is according to his tweet:
"Lithium carbonate price today in China is $28k tonne high end, mid point $24k
This is the top end of what we experienced 4/5 years ago and there’s a long way to go before this price surge runs out of steam … i dont feel we are even half way thru yet"