RE: Bacanora delists on 26 Jan 2022 at 7am.22 Jan 2022 21:49
Barksy1 on the main forum is asking if Ganfeng will take SONORA private?
From what I have read, BACANORA LITHIUM on the London Stock Exchange will BE DELISTED ON 26 JAN 2022 AT 7AM.
Gangfeng will then LIST BACANORA AS A PRIVATE CO.
None of the article state where this private co will be listed ie LONDON, USA etc or Mexico.
However, from what I know, REM Mexico that holds the Great Sonora JV deal plus a bit of the Stage 1 appears to be NOT ABLE to go on in this form?
Why? From what I know, the SONORA LICENCE [lithium] SHOULD BE HELD IN 1 CO and
Bacanora and REM Mexico Ltd appears to be incompatible as a CORPORATE STRUCTURE.
For example, REM Mexico [Cadence] may agree to have a SHARE IN THE NEW PRIVATE CO that Gangfeng will incorporate but what are the terms:
[1] Could it be that the whole deal is re-calibrated ie NPV etc and then REM Mexico Ltd will have new shares in Ganfeng's new SONORA PRIVATE CO?
[2] Could it be that Ganfeng will offer REM Mexico Ltd to BUY IT OUT and for what price?
Kiran Mozaria said that if offered a reasonable price, then of course?
[3] Kiran Mozaria also said that if they are allowed to develop Sonora, then ? of course?.
Can Cadence take on Amapa, perhaps coming Litchfield/Picasso and Sonora?
One will have to wait and see for so many NEWS due soon?
[4] Or will Cadence be o.k with converting their REM Mexico Ltd to NSR?
So, many TYPES OF CORPORATE STRUCTURES that one cannot tell given one is NOT PRIVY
to any approaches or friendly hints from Ganfeng.
Certainly, like Solgold and Cornerstone, it was messy corporate wise with 2 co's owing 1 ENSA CASCABEL LICENCE. Hence why Solgold tried to take over Cornerstone.
So, have to wait and hope Kiran Mozaria will inform as soon as able.
Sorry, hurrying off , so not editing for errors.
News, Sat 22 Jan 2022.