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KM in his last interview reiterated that the deal is "fait accompli".I don't think if he wasn't pretty sure that the deal WILL happen would be so naive to say it again. I added some more believing that the deal will be announced sooner than later.
" Lack of ramping on this board " Most unlikely. If you scan the BB you will soon understand that postings here are scarce and hardly had an impact on the sp in the past. There are many possible reasons. For example
1. Investors from the early days of listing cashing in.
2.The results so far from scout drilling at Troulli not as good as anticipated
3.Problems with the enforcement of the option agreements with Bezant and/ or JLP
In general -and I am not saying this is happening here, -when you have 3 different companies involved in a project info can leak more easily.
Question answered by the RNS released since posting
https://www.lse.co.uk/ShareChat.asp?ShareTicker=BCN&share=Bacanora-Lithi&thread=207BAB49-9492-44FB-AB07-1E401A2649F1&reply=true
https://uk.advfn.com/stock-market/london/bacanora-lithium-BCN/share-news/SAND-GROVE-CAPITAL-Form-8-3-BCN-LN/86192278
30-Sep-21 18:30:00 67.568 350,000 Buy* 67.00 68.00 236.49k O
30-Sep-21 18:30:00 67.568 350,000 Buy* 67.00 68.00 236.49k O
30-Sep-21 18:30:00 67.568 350,000 Buy* 67.00 68.00 236.49k O
Who is the buyer? Are they buying to cover short position or somebody is confident that GFL will improve their offer Perhaps GFL is the buyer? How soon do they need to disclose it?
28% and then I think mentions 25% of $3M In any case our payment in shares will be maximum 28% of the $3M
The message bellow which i post circa 9.25 appeared on my screen for a minute or so and then disappeared
"My understanding was that SHs have until the 14th of Nov to accept/reject the offer and thus will not find themselves in a possible awkward situation before that date even if the offer is made unconditional."
My understanding was that SHs have until the 14th of Nov to accept/reject the offer and thus will not find themselves in a possible awkward situation before that date even if the offer is made unconditional.
1:38 53K at 67,74 and 1:51 50K at 67,71
Apologies missing text
So, the total consideration is script payment of the equivalent $3M
So, the total consideration is script payment of
" upon exercising the option within the 90-day period, the binding consideration terms are as follows:
· A$1m script payment in Castillo shares will become payable to the Vendor Group based on the 14-day WVAP calculated from the date of which the option agreement is announced to the ASX.
· Note, the Vendor Group will be subject to a 6-month voluntary escrow period for 50% of the shares and 12-months for the 50% balance from the date of settlement. In addition, both parties agree to sign off on a binding term sheet.
Incremental consideration terms are applicable if the following milestones are achieved:
· A$1m script payment in Castillo's shares to the Vendor Group based on the 14-day WVAP if two drill-holes produce assayed intercepts greater or equal to a true width of at least 10m @ 1.3% Li2O.
· Note, the two holes will be at least 100m apart, but not greater than 200m.
· A$1m script payment in Castillo's shares to the Vendor Group based on the 14-day WVAP if a JORC compliant total inferred resource of at least 7Mt @ 1.3% Li2O is modelled by SRK Consulting.
· In the event of commercial mining operations commencing, a 2% NSR will be payable to the nominees of the facilitator."
Hi tomcat-14 Do you think they are doing it for a small profit or .... there is more to it?
Hi,
Can you post the link please? I can't see it on my screen
If one accepts the offer and then there is a revised offer that shareholder will be entitled of the revised offer also
Is this correct or have I misunderstood it?
see page 45
" Revisions of the Offer
(a) Although no revision of the Offer is envisaged, if the Offer (in its original or any
previously revised form(s)) is revised (either in its terms and conditions or in the value or
nature of the consideration offered or otherwise) and such revision represents on the
date on which it is announced (on such basis as Teneo, acting as Ganfeng’s financial
adviser, may consider appropriate) an improvement or no diminution in the value of the
revised Offer compared with the consideration or terms previously offered or in the overall
value received and/or retained by a Bacanora Shareholder (under the Offer or otherwise),
the benefit of the revised Offer will, subject to paragraphs 4(c), 4(d) and 7 of this Part C,
be made available to any Bacanora Shareholder who has accepted the Offer in its
original or any previously revised form(s) and not validly withdrawn such acceptance in
accordance with paragraph 3 of this Part C (a “Previous Acceptor”). The acceptance of
the Offer by or on behalf of a Previous Acceptor in its original or any previously revised
form(s) shall, subject as provided in paragraphs 4(c), 4(d) and 7 of this Part C, be
treated as an acceptance of the Offer as so revised and shall also constitute the
irrevocable and separate appointment of Ganfeng and each of its directors as such
Previous Acceptor’s attorney and/or agent with authority......."
Just to clarify The Corporate Action I received was to vote for or against the GFL deal and not for the capital reduction
@tomacat
You convinced me. Voted default to the corporate action received