Member Info for KLUCK17

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

@ Impecunious
Thankyou

Who do you think is buying? PIs or perhaps a company related to the new chairman?

EV your input on this BB is much appreciated and I agree that the potential is there & that's why I keep adding. However, I believe that when we try to estimate the value of KDNC, for now, we should leave out of the equation our assets in Sonora as GFL may or may not presents us with an offer. I wish they do. It's because of Sonora that many LTH, including myself, are trapped in this share.

John,
The most important clause IMO is that by accepting the offer you automatically and irrevocably accept amongst others the blocking of your balance. Apparently, Tomcat is correct in his analysis.

Thank you for the clarification

tomcat -14 Are you sure they are allowed to do that? -don't they need to treat all shareholders the same? Do you know of a similar case?

Hi John,
No, it's the deadline for accepting /declining the offer. In the original corporate action received the deadline was 10/9/2021 but that action was annulled on 8/9/2021 and was replaced same day by a new one that incorporated the news of the capital reduction.

17/9/2021

https://www.bacanoralithium.com/investor-relations/ganfeng/
Under the chapter capital reduction, one can find the timetable up to the court hearing that will be held to confirm the reduction of capital. (19/10/2021). My guess is that if the offer is accepted the whole matter will be finalised before the end of Nov.

Good morning, all
The offer document simply gives 2 options and you must choose one (1 & default. ) By ticking 1 you accept the offer 67.5p and ZNWD shares If you want to reject the offer you tick "default" The deadline is the 10th of September
"Please TICK (v) your preferred option as indicated at page two (2) of the attachment:
¨ Option 001

¨ Option 002 – Default
Please reply at your earliest convenience before 14:30 on 10/09/2021. "

Today I received an email from my Brokers requesting me to advise them by not later than 10/9/ 2021 whether I accept the GFL offer. Has anybody else received similar notice? Does this deadline mean that the deal may be concluded sooner rather than later? The notice does not provide a date when the monies will be credited and ZWND shares exchanged.
"Credit / Debit Indicator Credit Payment Date Unknown Date
Value Date Unknown "

I think it does see RNS 20/11/17
https://polaris.brighterir.com/public/bacanora_lithium/news/rns/story/w068jpw

"The Royalty
The basis of the Company's claim is that the Royalty was originally granted based on the misrepresentation of Colin Orr-Ewing that he held a pre-existing royalty granted prior to the acquisition of the lithium properties by the Company. The Board of Directors of Bacanora has completed a review of the historical background and concluded that no such pre-existing royalty existed and accordingly there was no basis for the grant of the royalty by the Company. Further updates on the progress of the claim will be provided to the market as and when it is appropriate to do so."

@TrekMadone.Totally agreed.