Member Info for Matthew125

First signs that something isn't going right for Ganfeng and the BoD on this deal?

Still might be, just hold on to your shares..... They need the asset and that isn't going anywhere!

Chased ii up. Seems part of the problem is they can't get information from my prevoius broker EQi (god, they were rubbish). Fingers crossed that I get some joy in the coming weeks. Planning on trying my first claim (for 2020 and 2021) in Jan 2021.

Oh btw john, I'm not having a pop at you. Thanks for flagging. Been a bit of an irritating week (not just BCN! ;D) all around!

They have to be distributed to all share holders. If you hold shares in BCN you already own the shares in ZNWD through your ownership of BCN!

I saw the same message. Good that they clarified but it does show what a load of subversive nonsense this whole takeover scheme has been.

Don't worry Amtech, the next leg is about to start!

@john I agree, M&G have accepted although when I took away their shares I found that there were no other accpeted shares in the total, I better check that again. Of course it would have been nice if M&G had backed up as that 13.6% would have gone a long way to stopping any delisting. We wait to see what the other IIs do.

LOL. Yes I checked that before. Ok, they accepted. Big deal. Didn't you already sell?

@EV I understand where you are coming from. The change in wording is certainly to imply that M&G have accepted. However, I sense it could still be spin as the language doesn't appear definitive.
It makes no difference to me as I never thought that M&G wouldn't accept. What I find more interesting is how the share number change is only from including M&G shares, no others.
As I said, I'll be sitting tight until the end and recent events are making me more confident that Ganfeng won't be able to get this over the line.

@Dave and EV That is old news. If they get to 75% they will APPLY to delist. It doesn’t outline how long this process will take or how tradable your shares will be in the interim. Seems like more scare tactics from the BoD to create doubt.
What isn’t so clear to me, due to all these arbitrary cut-off dates (which are making less and less sense due to the suspension), is will shares still be bought by Ganfeng from those that sit tight until after these cut-off dates? If it is announced after the cut-off that Ganfeng have say 80-85%, it would be in their interest to keep buying to avoid the hassle of having minority shareholders.
As for the delisting, this has only happened to me once before. In that case the shares were moved from my ISA into my trading account (same broker). The book value should change to the value it comes out of the ISA at, so tax implications if you were to sell immediately should be minimum. If you can’t sell immediately due to liquidity, is this a problem? I bought for a LT investment, I bought for dividend income. Could this not still work out to be the case, even as a minority shareholder?
As I say the wording of all the RNSs and documentation of this scheme has been to create fear and doubt, to panic folks into selling. Even the over 75% under 90% outcome can be worked with (and may still make you rich!) and I suspect if this was the case more opinions would arise.
They are some unknowns here but once the BoD are gone things can only look up! ;) I’ll be holding until they get over 90% and I am forced to give my shares up.

I think they are buying because the deal may be raised plus there is almost no downside risk.

@john where did you see that M&G have accepted? The RNS just says the same about intend?-

...have until the below deadline...

@Bampster What was the deadline date you were given?

@Suffolk You are a step futher than me. I was told by my broker (ii) that they would send them to me and I am still waiting a month later. Great dividends on this stock but what a pain to claim back any of this withholding tax. I am guessing this is one of the reasons the stock still seems undervalued.

'stabilise back around $6000 p.tonne' .... Stabilise?! That would be very low price going forward, considering the increasing demand. Not that it couldn't be the next low, but also consider that more than half of the miners currently producing lithium, have production costs greater than $6000!

@hamsters I agree I think this might just an excuse to misdirect from the low take up, maybe a higher offer might be on the cards? Although, I still kind of hope that there is a bigger problem and the whole cr*ppy deal gets scuppered.

I actually think 9p could be an achievable short term target price! ;)

@mrcautious 'But it does seem to confirm M&G have accepted - which we were unsure of the other day. Im sure if they could they would slap all of us in the face !'

Where does it say that? Wording is the same as the last RNS. An intent is not acceptance.

'· a letter of intent from M&G Recovery Fund in respect of 52,528,941 Bacanora Shares (representing approximately 13.67 per cent. of the issued ordinary share capital of Bacanora).'

@johnpwh 'regarding acceptances, I think the nominees may be an influence here. I have just come off the phone to iWeb (HBOS) reminding them that they have still not issued a corporate action. They say it will be issued next week. Probably.'

I think you mentioned that you were going to take the deal. Are you now reconsidering that position? I think it is certainly worth holding off for as long as possible.

'Re vox watch the interview with the Rev Ceo. He tells you what is wrong with the industry and why this will win in it's market sector'

Yeah, that was a very good interview and was also the reason I started to look into the company. Started buying too early (a mistake I continue to do), but will be happy to but more here esp. if we keep getting price drops like today!