Member Info for mick88

IB, I was brought up in a traditional coal and shale oil mining community in Scotland. Every village in the area had what we called 'bings' or waste heaps, and every community was built on the employment from these mines. One of these 'coal pits' as we called them, was still operational and the largest employer in the area until Maggie came along. Sadly all gone now. I moved from the area a few decades ago, and at that time the bings were in the process of being removed with the waste getting recycled into many different usages. Now when I go back home the area has been unrecognizable transformed. The bings have been replaced by forested hills and walks with picnic areas and seating. And in fact one of these original bing sites, the Five Sisters has, I think, been designated as site of industrial national heritage. The transformation in the area is amazing, and is evidence of what can be done post industrial usage. SAV would do well to investigate and use as examples such places as West Lothian in Scotland to further their project.

Excellent summary fozD.....we've been skinned by GF, facilitated by an inept BOD. To loose this on the finishing line (fully funded project), and for others to lift the prize is sickening. It does not inspire confidence in the role of Directors in developing businesses. Who's best interests are the working for?

John, their package would not be long in mounting up. When you consider their options as previously highlighted, their shares (most likely made up from free bonus' or cheap options) and whatever fantastic redundancy / job offer package they receive from GF (of course all above board). It is not difficulty to see why they would recommend acceptance.

Seems to indicate that Secker is in for a windfall of £163k and Hohnen £129k (pls correct me if I'm reading this wrong). And that is just the options to be exercised, this does not include existing share profit or deals negotiated with GF. Handy to know when considering how to vote on the potential upcoming TO bid.

HoH I had an identical worded response when I emailed my displeasure.

fozD you are no doubt correct - nobbob (BB) knows the facts fine well;
This is clay, not hard rock, this is open cast (cheapest form of mining). The finished product will be shipped direct from Mexico to battery plants most likely in the western hemisphere (North America / Europe), which is a lot cheaper than transporting spod or part finished salts to China then the West.
Alterior motives - YES

Would be surprised if the West allow the control of another big Lithium project to head East?

lol antL....wont be getting rid of anything, I'm long with everything. The problem I've got is being ousted without a choice (Bacanora, Nemaska, Lithium X Energy)... :-[

Good link starF, any idea when this was released? Great 3mth, 6mth, 12mth Goals and I quote 'the projects have been de-risked' by the EU

Thanks fozD, really the point I'm making is don't accept the scraps, we paid for the meal.

This is the third time in six years I have went thro' similar scenarios (not counting NMX), and although I will profit quite nicely out of this, that's not the point. Does the little guy ever still have a stake when these 'wanabes' get into production? I don't know as it has yet to happen to me. My investments are mostly SIPPs, so obviously long term, which does not seem to be compatible with junior miners (who incidentally are desperate for my money to get started).

and before we know it, we are ousted instead of the BOD's. Everyone should write to Bacanora requesting a Special Meeting with the intention of replacing disloyal Directors i.e. only 5% shareholdings required to call a meeting

100% FozD, the only surefire remedy is to cut out the cancer at source. Replace the 'head and tail waggers' with people who will properly represent all shareholders.

UK LAW;

Who can Call a Shareholders’ Meeting?

The board of directors has the power to call general meetings and the majority of general meetings will be called by the directors (S302 of the Companies Act 2006).

The members also have the ability to demand a general meeting. Section 303 of the Companies Act 2006 requires the directors to call a general meeting once the company has received requests from members representing 5% of the paid up share capital those entitled to vote at general meetings of the company.

Under S304, the directors must call a general meeting within 21 days of receiving such a valid request and provide for the general meeting to be held on a date not more than 28 days after the date of the notice of the meeting.

If the directors do not call a meeting as required to do so, under S304, the members who requested the meeting, or any of them representing more than one half of the total voting rights of all of them, may themselves call a general meeting.

The Companies Act 2006 also gives the court the ability to order a meeting and where a resigning auditor has given a statement of the circumstances connected with his resignation, that auditor is also entitled to call on the directors of the company to convene a general meeting for the purposes of receiving and considering an explanation of those circumstances.

If like me you are not happy with the offer, act now. Special shareholder meeting I would have thought is in order, and if that means to oust the board, so be it.

Starf, that's excellent news about the RRP as I'm sure I read somewhere that EMH (Cinovec) were also intending to apply for EU funding via the same route. Obviously the RRP is the preferred funding vehicle, possibly because a large proportion of these funds are via grants and long term low interest loans.

Thanks ChamM, it looks like a good start in public relations, I was particularly impressed with the letters to the locals.

AtD - Covid is a virus with many variants, just as LI is a mineral resource with many clothes. Cut to the chase, do you not mean I 'clearly don't understand the difference' in economies..... ;-)

No its not AtD, NZ had the top best in the barrel CEO, and we have the dregs lying (pun is relevant) in the bottom.

Yip nomadI.....IMO it is the lack of information and transparency on Engineering details from Gangfeng that is holding investors back. When this milestone is reached, and there is a program of construction, the SP will really take off.

Well articulated GuitarS, I am a supporter of the EV revolution, and in this particular project, but not at any cost. IMO the team at SAV are on the right track to gain local, national and international support.