Member Info for MikG

Only on AIM could the future financing situation be considered a issue hanging over the company. Would someone be able to name me a project in the real world that is 100% financed from the outset, with the operators sat on years worth of cash from the very beginning? It just does not happen. There would be a huge opportunity cost to sitting on all those funds, and realistically funding comes in at the different junctures of the project.

I would also hazard a guess that references to the support of the existing shareholders has a lot to do with Ganfeng's position as one of the worlds largest lithium producers, and givens the activist role they are taking with their investment and bringing the resource to production, they are likely to want to support the later raises given the sunk costs they will have incurred on the project, that we can already see materializing. Bar outright saying that, which Secker can't, how more clear can that be? We are reading an RNS of the project being brought to life by Ganfeng and their expertise, know they will be running the show, yet somehow expect them not to plug trivial financing gaps as they arise down the line?

In no way comparable to Blackrock et al, who are pure fiinanciers, and made no commitment to the company bar purchase of the company's equity. Sorry, but chalk and cheese and a poor comparison IMO.

@ Antharry - your right. Endless buying and still it goes down. Also imagine the carnage if the deal didn't complete? We're a mess getting the biggest name in the business onboard.. imagine if that fell through and we didn't have the funding/competency/expertise that Ganfeng have brought. Either way, this was going down regardless IMO as this level clearly suits the setup of one/multiple MMs books.

@mrC - completely echo that. Little enthusiasm and a decent bout of genuine seeming positivity would go a long way! Along with actually buying (not just cheap freebie options for share price failure) some stock on the open market!!

I always find the Secker debates interesting..

Most of what is levied against him is his somewhat stuttery public demeanour, apparent lack of confidence in public speaking, and having less charisma than some of the more fragrant characters "working" (on) the AIM market. Whilst I agree with all of those, had I invested earlier in the summer in the 50/60s, or even a couple years ago in excess of a quid per share, the Company has achieved everything I would have hoped for between then and now.

Tie ups with the biggest names in the industry, proving up the monster resource at Sonora and substantial in its own right offering at Zin, and getting the right partner with the background and experience to maximize Sonora. As the face of the company he takes the flak for the company being at the lowest its ever been in the past five years during 2019, and given the progress on the above fronts, understandably so.

But, as a point of discussion, what more can he do? Any AIM CEOs that overegg expectations, often fall flat on their face in a pump and dump manner. Personally, I cannot fathom why the BOD don't buy shares (there can't be a closed period now the deal is finalised) and I think more could be done on PR. I'm not overly impressed with the social media account for example re-hashing months old articles after seeing them on a bulletin board - that doesn't constitute strong PR. Anyone else any ideas?

I'm genuinely at a loss as to why this is trading at such a paltry market cap, and cannot see a future funding gap down the line (now having partners of the ilk that BCN have) being a legitimate reason for such a depressed price.

Lithium ETF now 19% off its recent lows, and breaking out. How IIs aren't coming here and scooping us this price is genuinely defying belief for me too.

That's complete tosh. Mining operations are conducted daily all over the globe in jurisdictions 20x more dangerous than Sonoara. The only cartel causing an issue here is the Ganfeng BoD :)

No, I think its an accurate report. It's just old and from a relatively obscure source, so it seems strange they post it within 24 hours of it being posted on these boards. I sincerely hope that if they are reading posts, they take note of some of the very valid concerns and points raised by bruised and battered shareholders.

Quite strange they share that today, an article dating back to August after I posted it on this forum yesterday. At least we know they are reading these forums..so therefore

DIRECTORS BUY SOME SHARES & MANAGE THE SHARE PRICE PLEASE! WE SHOULD NOT BE NEAR LOWS BASED ON THE NEWSFLOW TO DATE!

Disgusting market that only moves where it suits the people marking it. Has no semblance of rationale for half the moving going on. Its not making a market, its facilitating them to make money from the market.

Would be funny if it wasn't the same thing every day, every session. Drop it big on nothing, then claw back some of that drop with buying the rest of the day. By end of session, lose a little more and keep chipping away at the share price, despite overwhelming buys. Tiresome pattern of shareholder value erosion.

What do you see happening at 25? We think the world's leading lithium producers is holding off on investment in what's touted as the world's largest lithium mine over a penny (in a stock that trades at just £50m mcap)???

https://www.mining-technology.com/features/top-ten-biggest-lithium-mines/

HT, you've answered your own question. Bent market, laden with unscrupulous market makers and brokers all scrapping for every retail PI £ that hasn't been removed from or decimated on the market. Always a market for the few at the expense of the many, and worse so nowadays given the deteriorating amount of cash sloshing around and the increasing competition for it. Look at the market maker who always drives this down and presses the ask lower and lower.

Ganfeng hitting new highs, Global Lithium ETF now (deservedly) touching distance of entering a new bull market.. 17% up off recent highs. BCN now 50% off recent highs. As I've said in the past, look at how bad this currently is - imagine the carnage if the deal didn't complete and we had negative news and no Ganfeng interest/funding/assistance? Bottom line is, on this market, valuation inefficiencies can last for as long as those who mark these markets want irrespective of fundamentals. This share was basically coming down to these prices irrespective of the deal outcome.

So while Ganfeng soar off and break out to new highs with its share price, this continues to be aimlessly crushed lower and lower. Other lithium stocks are soaring too. Doesn’t anyone see anything whiffy in all of this? Isn’t it a little odd that shareholders in BCN were better off before Ganfeng even got involved with us? Farce. Zero action, zero concern by BOD, shareholders suffering as per on AIM.

Appreciate that mate, and I have firm grasp of TA and render it mostly useless on AIM companies for the reasons I outlined below. If you think in anyway this has been a fair pay off for the level of risk taken, then we are just on a different page. And its the same story across a number of risk-based outcomes of late on AIM. All against a backdrop of positive Brexit, ATHs in broader markets etc so we cannot even blame the market climate.

Market makers & city spivs, through their own greed have just destroyed AIM as a "market". This is now effectively 25% up on the drill success and "transformational" find. Had it missed, what would it be - 75% down. There is no reward for risk in this market. It is a pumpers, spivs and directors plaything - fundamentals count for jack. This would be utterly in the gutter had it missed, and is now just 25% up as everyone scrambles to find more excuses to cover the fact that the market makers are just dropping this on fresh air. It is the same story everywhere not being pumped.. the default is just drop, drop, drop unless a pump or massive news gives a brief respite. Anyone wasting their money in this joke market where the default is dilution and value erosion needs their head examined, especially when you've got the main markets with people like Trump tripping over themselves to keep those higher.

Of course. This is being completely walked into the hands of Ganfeng. It seems you just can't win on AIM - get a giant major onboard (supposedly the holy grail for an AIM company to validate their resource), then they just end up exerting their power and influence to take the company for next to nothing. Couple with a very weak management with absolutely zero skin in the game, and you get no shareholder value concern or protection. DIsaster.

Positivity is fine, but it is somewhat naive IMO. If it were MM games what would be the point of halving the share price from the level it sat at pre the Ganfeng deal approval? M Can you begin to imagine where we would be had that deal not completed? This is the share price scenario most would have envisaged in the event of the deal falling through, not completing.

Said the exact same myself MrC just minutes ago. It’s exactly what’s happening. Recently issued options mean nothing as this bod have had ample free shares (struggling to see where they’ve physically parted with money for shares), and will have a vast remuneration package (Maine even taken on in roles for Ganfeng) in the event of sale. Or perhaps a role regarding Zin if that’s not sold off. Something fishy with this entire share price performance and the BOD response to it.

Look at the lifecycle of a Junior miner.. this is in the Development/Orphan phase having had the institutional investors enter the fray. It should be on a solid upward path, re-rating to fair value in the coming 1-2 years. As it stands, BCN has lost a quarter in the space of weeks from an already depressed valuation, and is in freefall.

Ganfeng will surely just scoop the lot and can't imagine given how shrewd they are that they want to pay more than the 25 they've already paid. It's completely in their hands should they choose to pick up the lot for a song.

What will they care.. they'll have had fantastic payoffs, a bunch of options to cash in, and their CV will read that they gt minnow explorer bought out by the world's largest..not too shabby all in all. Does anything you've seen of Secker or the team show they care.. are they buying anything on market as a "show of faith" in this lowball price? Have they bought any shares, or are they just granting themselves lots of options to reward the inept share price?

There is no way on earth this share should fundamentally be trading at less than 30 with everything it has. The disconnect is now so extreme that it stinks of another AIM PI screwjob.. I've seen it all and held through it all before.

Clearly being walked down. Most likely to allow Ganfeng a cheap takeover following on from their initial uptake at 25p. This is a disgrace, and is the only logical explanation to why this continues its collapse since securing the required funding, and how the BOD can be acting as inept as they are concerning the listing price and performance of the share price. Not exactly laden with shares, a lowball takeout will hardly affect them, though golden handshakes and takeover bonuses galore would likely be plentiful. All in my humble opinion; no deramp intended but this share price is speaking for itself.

Probably something along the lines of because its AIM, and most shares go down most of the time. Unless they are the pump de jour. Even when they announce transformational news like being the face of O2s 5G campaign, those gains are now virtually all but erased. And even with a shorter closing millions of shares & that sort of news, this has still continued to drip lower for months. Unbelievable stuff.