Member Info for mrcautious

If the deal doesnt go thro - yes I think it will re-rate below 50p but in the medium term (apart from day traders) who cares. The 67p offer has provided a valuation view moving forward, and we are moving towards a time when this resource is going to be fought over -- that is assuming the BOD will actually start doing their jobs !!!!!!!

If I hadnt seen the last line of your post I was going to go nuclear !
But yes the Ganfeng offer price makes no sense !

Good find here, it confirms what I have been saying, ie economic warfare by the chinese

I cant see getting 'chinese approval' for such a good deal would be anything more than a formality, unless they have gauged that other shareholders will not be able to veto and want to get it even cheaper !

I can see you are a fantastic trader XTW and yes there is not much downside to buying now whether the deal happens or not but you are only looking at it as a short term punt I'm sure, not as an investment most have researched for years !

I hold approx £40k and will vote against...

30% ownership doesn't necessarily make the company a puppet unless you have a very weak board and CEO. But more simply put this is an engineered and aggressive takeover bid which is just plain wrong on any level and shows the type of game the chinese play. I will wager (with hindsight) the large shareholding by a chinese organisation has put some people off investing in BCN hence the stolid share performance.
I have direct experience of the chinese in business as I worked for one of the large global telecoms manufacturers and had the pleasure of watching how Huawei priced all of the competition out of the market in the UK and elsewhere in the unsuspecting world !

Trouble is if M&G are FOR this deal we have probably had it !

Totally agree with this post !! People berated Trump saying he was a ****** for going on about China - but they are waging economic war against the west and this debacle is just that latest skirmish -- WE HAVE TO ACT TOGETHER TO STOP THIS

Clutching and straws comes to mind here ! But yes I hope it will be contested but the depressing thing is that secker and his crew seem to be making acceptance overtures !

I also have some shares at around 100% profit which under normal circumstances would be okay, but the overriding point here is we - ie other LTH's are being screwed over. We entered this investment for a far greater profit that this. If you have as you say been fortunate to buy some at very low entry points, then great. But this should have easily exceeded £1. The resource and the mine life is worth billions not a couple of hundred millions. If this deal goes through me and others will not feel that this ride has been very worthwhile. And as I have already said for the BOD to think this deal is okay is suspicious bordering on fraudulent !

I would hope so ! Me for one...

How is this possible in the case of M&G ? I understand that share could be held in the name of an agent so if we are saying that M&G is the agent I get it -- but I'm not sure this is legal under stock market rules - ie getting a much larger controlling holding without declaring it.

I was one of the ones that said this and unfortunately it has been proved right again, the chines will screw over any western company given the opportunity and i seems we have a board that are facilitating this !

This is the same Lenigas that said it was "the saudi arabia of lithium" ! Now he apperars to be rubber stamping this rubbish deal also !!!! Someone is getting their palms greased here I wager !

Ganfeng are a major shareholder but to suggest they already have control isnt logical. They are businessmen and we have to assume our BOD are also businessmen (even given their track record) and will negotiate a better deal, rather than skip off into the sunset with a small bag of swag ! This company has been under marketed and isnt well known to many outside a dedicated band of investers and Ganfeng are taking advantage of this, assuming it is an accident which I doubt.

I think this is reportable fraud !!!

I think this is dead right. After all these years the fact that secker is about to champion this deal stinks and he must be benefiting in some way - and yes I do think as someone else has said the SP has been managed..

Bampster - I am in a very similar situation to yourself and an identical frame of mind. If this deal goes ahead this will be one of the most abysmal AIM investments I have seen. We have sat and watched the non-performance for years and now we have a board who want a fire-sale, If I had never heard of BCN I could have done far better in a whole number of the OEICs I have invested in elsewhere in my portfolio -- it will have been a waste of time really unless you are one of the 15% brigade...

If secker recommends this deal I would suspect that some brown paper envelopes were involved !