Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Exactly. GF hold all the winning cards The fact that their direct holding is 28.88% does not leave much room for a successful counter bid.
@Malik I hate it when people give advice like you do pretending to be good Christians but the only thing, they care it's to promote their own interests. Rest assured that we know exactly what to do with our money and we do not need your ramping advice.
The story gets better
https://www.wsj.com/articles/united-and-mesa-to-buy-electric-planes-for-short-trips-11626174001
Dee thank you for your tireless efforts. The board and GF are playing dirty. I hope -wishful thinking! ;)- a new suitor with deep pockets makes a better offer and spoil their game.
I instructed my broker to vote NO to rs 3,6,7,8&9. They confmirmed necessary done.
Indeed, you did addicknt. Hope you are doing well with your other invstments
once more same price for purchases/sales and equal volume....
Thank you for your posts Fozdog ,totally agreed. What I am not quite sure is if GL manage to go above 30% and it triggers a mandatory bid what is the higher price they need to offer? If is the highest market price of the last 12 months, then it will be 68p. Could they in theory and I repeat the word theory agree with an II to buy the circa 2% they need at or less then 68p. ?
Keep increasing. Buying for whom......? Could their holding be the catalyst for the TO?
It is strange but likely for the same reason they choose not to increase their holding to 19.9% or maintain their 10% stake. they also had the option to increase the off-take tonnage by up to 100% at Stage 2 production
see RNS 10/4/2017
"· Milestone Off-take Agreement for up to 100% of Li2CO3 produced at Sonora:
o Hanwa to purchase 70-100% of lithium carbonate produced during Stage 1
o Tonnage based contract for battery grade lithium carbonate at market pricing, with final pricing to be finalised prior to commencement of production
o Option to increase the off-take tonnage by up to 100% at Stage 2 production
· Company-level investment demonstrates Hanwa's commitment to Bacanora and represents the entry of a new long term, supportive investor to the register:
o Hanwa to acquire an initial 10% interest in Bacanora, raising approximately £10,175,000 (approximately C$16,896,000) in proceeds to the Company via the placement of 12,333,261 shares at a price of 82.5 pence (approximately C$1.37) per share (the "Placing")
o Hanwa is entitled to present a nominee for election to the board of directors of Bacanora and has a pre-emptive right to maintain its 10% equity interest
o Hanwa shall have an option to increase its equity interest in Bacanora to 19.9%.
· The Agreement provides a funding platform for the Project - Hanwa represents a cornerstone investor and will aid in the procurement of long term project debt funding
· Validates the quality of the battery grade (+99.5%) lithium carbonate product and Bacanora's production process
o Hanwa has received numerous samples of the Company's battery grade product and has distributed samples to a number of their customers"
For the benefit of those who are unfamiliar with the GIGANTIC lithium reserves at Sonora and may be influenced by a certain troll a glance at Bacanora's web site will help. See tables 2-4
https://www.bacanoralithium.com/projects/sonora-lithium/
PS It's also the cheapest to extract
According to RNS dated 28/5/20 Gl would deliver the EPC by end of Q 4 2020. To the best of my knowledge this has not been made public as yet. If this is so, was it purposefully delayed until the placing and the TO offer were completed in order to hide a more positive picture from investors?
"As a result of the return to work in China in late April 2020, the Ganfeng lithium test plant and project team resumed work on the Sonora flow sheet optimisation and process engineering. Whilst some weeks of engineering were lost, completion of the flow sheet engineering is still scheduled for Q3 2020 after which Ganfeng will provide Bacanora with an Engineering, Procurement and Construction ("EPC") style engineering proposal to produce downstream battery grade lithium products from Sonora. This timetable remains under regular review but is now scheduled for end of Q4 2020, subject to Ganfeng receiving all required equipment and engineering proposals from its equipment suppliers."
"Bacanora Independent Directors"
all the directors of Bacanora other than Xiaoshen Wang
RNS 6/5/2021 Appendix
Is really PS who call the shots or he is the muppet of Citigroup and Ganfeng?