Member Info for news

--------------NO OBJECTION----------
From the beginning of the 22.75% etc by Gan.
No objection to the off-take.
No objection to the next 50%.
Etc etc.
So, now objection? At this late stage? By BCN shareholders?
If they now object, they will have to take legal advice or vote and hope they win.
If they win, then it will mean that perhaps they need new partners?
Dont know, its up to them ie BCN shareholders and nothing to do with us REM*ers.
-----
BARKSY1- You asked me so I answered. Now over to you and your group.
---
Tomcat-14 - I think our conversation ends. No point in going to and fro - I have provided the answers.

Up to everyone to read up and check for themselves. DUE DILIGENCE ON EVERYONE*S PART IS NEEDED.

Here, it is merely just commenting and lots of views which is fine but in the end those views will be right or wrong a/c to one*s own SHARE POSITION/s.

RIGHT = PRIZE
WRONG = NO PRIZE
SAME IN LIFE ISNT IT?

Sun, 9 May 2021.

----------------------MONEY TALKS---------
One person, presumably a BCN shareholder has tweeted to big names in politics including the PM.
BCN shareholders will have to ask the British public for public funds if they want the gov to pay for the Sonora project to the very end ie scale up.

If activists in Mex or the people want Sonora or the govt, then the same BCN-GAN message is clear --COME UP WITH THE MONEY INTO HUNDREDS OF MILLIONS OR BILLIONS AND ONE CAN HAVE THE PROJECT BUT THEY ALSO POINTED OUT IN THE MEX ARTICLE THAT TECHNOLOGY FROM GAN IS ALSO OF INTEREST. THAT WAS THE DEFENCE AGAINST NATIONALISATION - that was my reading of the article and the info from the co.

Others may chose whatever view they want and take any action they want. If BCN shareholders SAY TAKE CLASS ACTION, then I am quite sure that AN OFFICIAL VALUATION REPORT HAS BEEN ALREADY DONE and if they dont win the case, then legal fees have to be paid.

IT IS NOW REALITY AND SHAREHOLDERS MUST NOW GRASP THE REALITY OF THE SITUATION and TAKE WHATEVER ACTION THEY WANT OR DESIRE.

But for me, the time has come to a point in which ITS THE GAN/CH OR ENGLISH OR MEX THAT WILL TAKE THE SONORA PROJECT FORWARD AND WHATEVER IT IS,
--------------------BIG MONEY WILL HAVE TO BE PUT FORWARD OR RAISED EVENTUALLY ETC----------

So, going on the chatter ON ALL THE FORUMS, ONE CONCLUDES THAT THE BOARD WAS OR MAY BE AWARE THAT THE SENTIMENT WAS ANTI-REM THEN [HISTORY] BUT VERY GOOD AND SUPPORTIVE OF WHATEVER THEIR BOARD DECIDED.

SO, TOMCAT-14, IF ONE CONTINUES TO VOTE ANY CO BOARD IN YEAR AFTER YEAR AND APPLAUD ON FORUMS HOW WELL AND GOOD THAT PEOPLE ARE GETTING ON WITH THE JOB, THEN THEY DO IMPLICITLY SUPPORT THE BOARD? Common to ALL COMPANIES.

Or 1 biggest supporter said that their head of team is quiet and gets on with the job whilst our REM etc..So, I take that to mean that EVERYTHING THEIR TEAM DOES IS OK AND IS PROVEN BY VOTING etc.

N O OBJECTION AT ANY POINT TO THEIR TEAM SO TODAY, THEIR TEAM HAVE TAKEN THE DECISION FOR THEM, IE BCN SHAREHOLDERS AND ACCEPTED?

Sorry, for caps, the page keeps freezing and I have to be quick so pardon typos.

So, I await to see what happens next.

EVERYONE HAS A VIEW AND THEY MUST ACT A/C TO THEIR OWN VIEWS.

Hope that clarifies matters. If dont agree, then take LEGAL ADVICE, FINANCIAL ADVICE ETC.

Sun, 9 May 2021.

--------------------FINAL CONCLUSION--------------
History will say that for REM plc, Mr Lenigas, Chairman and Founder then got the agreement for the off-take for Sonora Lithium. Wording and exact terminology I dont have at the moment. The pic Mr Lenigas showed at Tesla HQ was telling prior.

I posted on London South East REM not so long ago, an article by SEEKING ALPHA of the then TESLA REM-BCN DEAL and they were of the opinion that the TESLA NAME WOULD OPEN DOORS relating to FUNDING for the project at Sonora WHETHER OR NOT the deal finally eventuated. This is common knowledge.

So, REM offered for BCN at £1 and the board REJECTED the offer outright saying it under valued the co. So, end of that.

However, on the forums of BCN, oh my, the noise and the objection was something to behold.
So, one does not know if it was put to the BCN shareholders whether they would accept or not? However, even if it had been put to shareholders, the noise against REM and the team may have not eventuated.

ONE IS AWARE TOMCAT-14, THAT DIRECTORS ETC COME UP FOR ELECTION AND AT AGMS ETC, ONE CAN VOICE SHAREHOLDER WISHES. OR SHAREHOLDERS CAN ORGANISE THEMSELVES VIA % [5% AS A GROUP] TO OPPOSE OR SUPPORT ETC. One big holder of REM said he has organised such a campaign before per what I read on the main forum. So, when the BOARD REJECTED the offer, NO SHAREHOLDER OF BCN OBJECTED from what I read on the forums. So, in a sense, THERE WAS NO SUPPORT JUST FROM FORUMS OF A LONDON LISTED CO TAKING OVER SONORA.

So, come the time, the GANFENG STEPPED IN.

NOW, THERE IS OBJECTION.

BCN TOLD MEXICAN PRESS WHAT IS THE NEXT STEP AND FOR GANFENG THE JV PARTNER ie THE SUMS INVOLVED IE INTO THE HUNDREDS OF MILLIONS AND B I L L I O N S[ PLURAL]. Read the article - its public info. I brought the subject up but NO ONE KNEW ANYTHING AS IT WAS NEW INFO.

------WHOEVER OBJECTS NOW IE SHAREHOLDERS OF BCN, MEX GOVT, ACTIVISTS ETC---------
THEY ALL HAVE BEEN TOLD SUBTLY BY THAT MEXICAN ARTICLE [KINDLY LOOK IT UP AS IT IS UP TO EVERYONE TO KEEP ABREST OF EVENTS ETC AND DO DUE DILIGENCE] THAT WHOEVER NOW WANTS TO OBJECT OR REJECT THEY HAVE TO:

1] COME UP WITH THE NEXT STAGES OF THE SONORA DEVELOPMENT CAPITAL ETC OR OFFTAKE REPLACEMENT FOR GANFENG, THEY ARE WELCOME TO SONORA. That is what I read from what was said in reply to nationalisation. So, far, after the TAKEOVER OFFER [POSSIBLE] BY GANFENG FOR 100% OF BCN, I NOTE THERE IS NOT ONE SOUND FROM THE MEX GOVT OR THEIR ACTIVISTS ETC.

Well, if an INSTITUTIONS IS ASKED TO STEP IN, THEY TOO WILL HAVE TO BECOME THE WHITE KNIGHT AND COME UP WITH THE FUNDS IE HUGE CAPEX ETC FOR THE NEXT STAGES AND SEE THE PROJECT TO THE VERY END AS IT SCALES UP + TECH [ALSO QUOTED IN THE MEX ARTICLE].

So, that is what is now on the plate.

CORE LITHIUM- I HAVE POSTED OR TWEETED THAT CORE LITHIUM ON ASX, OZ HAS OBTAINED FUNDS FROM INTERNATIONAL INSTITUTIONS and so they can find the funds. Core Lithium is the NEXT DOOR OR N

LAST POINT
Barksy1- we cannot speak for BCN shareholders. They supported their team and their team has taken a decision for the co.

We support our team ie Mr David Lenigas, Chairman of REM plc then and now Cadence Minerals under Kiran Mozaria, CEO.

I was told I was naive - history shows NOT so now and proven by now the grumbles - cant turn back history.

Sun, 9 May 2021.

Part 2

THE POTENTIAL ACQUIRER may or may not have a VALUATION REPORT FROM THE INVESTMENT BANK [TIER 1] at this time for REM Mexico Ltd 30% JV or if it is done OR already done, is there A SPLIT VALUATION for MEXALIT OR MEGALIT?

Acquirers do not necessarily TAKE OVER CO*s unless it is critical - beans counters and all that.

Tier 1 investment co*s are the big boys and therefore it would be hard or harder for Cadence to be able to counter the valuation report.

IF AN OFFER IS MADE [BIG IF, SAY], THEN IT IS UP TO REM MEXICO LTD OR CADENCE TO SAY YES OR NOT OR IT UNDERVALUES THE 30% JV.

IF CADENCE SAYS IT UNDERVALUES THE SONORA 30% JV AND REJECTS, SAY FOR EXAMPLE, THE ACQUIRER CAN WALK AWAY AND ALL THE IMPLICATIONS OF ALL THAT IS OBVIOUS.

SO, IT IS NOW DOWN TO HOW MUCH, IF ANY?

I SEE MANY CALS DONE BY FOLKS BUT THE IMPORTANT FIGURE IS WHAT IS THE ACQUIRER*S INVESTMENT BANK [TIER 1] STATE FOR VALUATION?

I am pretty sure Kiran Mozaria , CEO of KDNC is cognisant of the position KDNC is in. Why? Mr Lenigas TWEETED ON THE DAY OF THE TAKEOVER [POSSIBLE] OF BCN AND I NOTICED HE @CADENCE MINERALS.

I think Ivybush or your group should give Kiran Mozaria a call and see what he says. Yes, he cannot comment if it is price sensitive but if one knows how to ask, then the ANSWER OR NON-ANSWER IS TELLING.

I am thinking more deeply today and I have not arrived at the FINAL ANSWER YET but I am getting there.

It all hingers on whether the acquirer LEGALLY AND OPERATIONALLY NEEDS TO TAKE OVER MEGALIT OR MEGALIT AT THIS POINT IN TIME OR DO THEY DECIDE ONCE IT IS COMPLETELY CLEARED BY THEIR GOVT AND WHETHER THE
OFFER IS FIRM ON 6.6.21 ETC?
Sun, 9.5.21

Barksy1,
First of all, it is important for CADENCE MINERALS that David Lenigas*s legacy of EMH shares is a SAVING GRACE. Why? If not for these mark-to-mark EMH shares which CAN BE SOLD at any time in stages and can REALISE £££ OTHERWISE Cadence will be in a much weaker position. If you look at many small AIM co*s that are in talks, they have to raise money to make sure that their balance sheet or cash position is not at a point where they are on the "vulnerable" side ie cash strapped.

I have seen one major [in the lower tier] in mining takeover a co BUT ON ALMOST THE LAST DAY WHEREIN THE BOND HOLDERS ARE ABOUT TO SHUT THE CO DOWN IF THEY DONT PAY. I am afraid that is reality in business. Hence, why if any of us are in the cut and thrust of business, I am not sure many will survive ?

How did all this happen? First of all, BCN rejected REM*s £1 offer and put out a RNS from recall that it UNDERVALUES THE BUSINESS. Unfortunately, REM could NOT offer more. Why? Probably, REM took a valuation report and that was the MAX. Fast forward, we see many broker reports on BCN and they are around this £1 mark or £1.2.

When Genfeng offered for BCN, well, the RNS from recall said that the board will recommend the offer as and when their govt approves it and provided of course there is a formal offer if at all on 6 June 2021.

So, all the reasons I cited in my earlier posts as to HOW TO PREVENT A TAKEOVER has been posted and this is FROM ACADEMIC info ie strategies for fending off a takeover. However, in this case it does not apply to BCN. However, it applies to the BCN holders [some] who are not happy. Things have moved forward - In the USA, they take legal class action but again this is general info.

WELL,IF BCN FELL OR FALLS TO THE ACQUIRER, IT IS THE SHAREHOLDERS OF BCN WHO DECIDED IT. WHY? THEY REJECTED THE REM OFFER. Probably, only Mr Lenigas knows all the ins and outs of Sonora and its worth ie VALUE-IN-SITU and may have got value from Sonora, NO 1 RANKED IN THE WORLD. The latest Mexican report said SONORA IS THE NO 1 MINE [LITHIUM] IN THE WORLD and they cited Mining Tech.

So, that is the position.

THE QUESTION BARKSY1 IS:
DOES GANFENG NEED TO TAKEOVER MEXALIT TO MAKE THINGS EASIER AS IN CORPORATE MATTERS, LEGALS ETC? Cadence or rather REM MEXICO LTD is the minority partner [JV] here holding 30%.

IF THE ANSWER IS YES DEPENDING ON WHO IS ASKING, THEN WHEN DOES THEY NEED TO TAKE IT OVER OR OFFER FOR IT?

AND FOR HOW MUCH? WHAT VALUATION HAS THEIR INVESTMENT BANK [TIER 1] PUT ON MEXILIT [or Megalit]? Megalist may not be of much significance at this point given what Cadence themselves said on the website.

Oooh, I can just imagine now IF ever, there is an offer? The noise ?

Cadence holds EMH shares and has a mkt value of X. Cadence mkt cap is Y and the market has given an allowance over this.

From what Bannor said of what Kiran Mozaria said, Cadence or REM may have an idea of the value of their JV.

However, WI

P.S.

It is my understanding from corporate take-overs [empirical etc] that the maths involved is not Ganfeng potential takeover for Bacanora is X price and therefore subject to plus and minus the other asset/s etc, Cadence Minerals therefore will get X price.

My understanding is that Kiran Mozaria, CEO of Cadence Minerals may have taken a valuation for their 30% JV in MEXILIT SA C.V AND MEGALIT, the latter of which has NO 43-101 etc per their website details- Or rather David Lenigas when I talk of past.

However, from all known M & A*s, a VALUATION REPORT is commissioned as norm.

Therefore, MEXILIT SA C.V is of more interest than MEGALIT [no 43-101 etc -see Cadence*s details on their website per the link I gave today].

As one is aware, in M & A*s [mergers and acquisitions], co*s use INVESTMENTS BANKS to provide services like legals, strategy etc. For example Solgold hired Citi etc in the USA and another investment bank in Canada to do strategy etc.

So, as and when and a BIG IF, Ganfeng is interested AT SOME POINT [when? or if], then they
will probably have a VALUATION REPORT to back it up as norm?

Cadence Minerals may or may not AGREE and may provide a counter report.

As one knows, the acquirer may not agree to the counter report and therefore Cadence could seek a counter 3rd party if some other co is interested to be a JV partner of Ganfeng.
However, it has to be remembered that 30% will be a MINORITY PARTNER and for any MAJOR LITHIUM CO, THEY MAY OR MAY NOT BE INTERESTED.

So, lets wait and see. DYOR. That* s my view and everyone is free to do their own sums but what is important is WHAT WILL ACTUALLY EVENTUATE IN REAL £££ AS A POSSIBLE OR POTENTIAL OFFER OR IF ANY AT ALL?

Oh, and its WHEN THAT IS IMPORTANT ie WHEN DOES THE ACQUIRER NEED MEXALIT AND MEGALIT? Lots more to think about on this point. ITS ABOUT THE LEGAL POSITION and that needs MORE THINKING and DEEPER LEGAL INSIGHT as norm?

tomcat-14

Of course, we all know that Ganfeng is our new JV partner [CAVEAT: IF THE DEAL DOES GO THROUGH IE THEY DO MAKE A FIRM OFFER ON 6 JUNE 2021 AND IF THEIR GOVT PASSES IT] and per your words: "they will own 70% of the alloted shares of mexilit and megalit"

That is clear from onset: Bacanora owns 70% of Mexalit and Megalit and therefore if Ganfeng takes over Bacanora 100%, they will OWN 100% of everything Bacanora owns INCLUDING 70% JV OF MEXALIT AND MEGALIT with Cadence Minerals holding 30% via REM MEXICO LTD.

Should Kiran Morzaria , CEO of Cadence Minerals be TALKING TO GANFENG per your post as to determine per your words "the ASPIRATIONS ARE FOR THE FUTURE JV*S."

I do NOT think that it is proper for Mr Mozaria to approach Ganfeng given it should be GANFENG APPROACHING CADENCE MINERALS IF THEY ARE INTERESTED AND MORE CRUCIALLY I F
they need MEXILIT AT THIS POINT AS WITH BACANORA?

For Cadence Minerals shareholders, it is now OF GREAT INTEREST IF GANFENG HAS OR HAS NOT APPROACHED CADENCE MINERALS ON AN INFORMAL BASIS YET?

Lastly, as for your comments on "GANFENG*S ASPIRATIONS", they or rather BACANORA HAS ALREADY SPOKEN TO MEXICAN PRESS ON THE MATTER AND I BROUGHT THIS UP ON THIS FORUM but Observer842 was not able to provide any clarity but went on to talk with links to old info. The info provided by Bacanora AS I SAID WAS NOT KNOWN. SO, THE INFO IS ALREADY KNOWN TO THE MEXICANS.

At some point, what matters is; IF GANFENG DO APPROACH CADENCE MINERALS, WILL THEY WANT TO SELL TO THEM [EITHER ON ITS OWN SEPARATELY OR TOGETHER ie Mexalit or Megalit]
OR WILL ANOTHER PARTY BE INTERESTED ie they want to JV with Ganfeng?

Dont worry, all will be made clear at some point in time.

He who gets the right picture as I said, will get the prize ie REALITY WILL BE REFLECTED IN THE REAL PRICE OF CADENCE MINERALS SHARES not forecasts etc.

Sun, 9 May 2021

Sun, 9 May 2021.

When I have more time, I may trawl through all the filings to find out the
INCORPORATION STATUS of Mexalit & Megalit, although the latter appears to be far less important at this point given what Cadence Minerals themselves said on their website re: Sonora lithium porject.

At some point, it will be made clear.

Its a pity that IVYBUSH is no longer posting otherwise, Ivy may have asked Kiran Mozaria, CEO of Cadence Minerals plc this or related to this as I understand that Ivybush asked many questions at the KDNC AGM.

Sun, 9 May 2021

tomcat-14
LoL
All these boxes to explain is not what I posted.
All accountants-co sec would have studied company structures 101.
I gave a link to UK Companies House wherein Sonora Lithium Ltd is listed.
The Mexilit & Megalit SA co*s are NOT UK listed but Mexico listed presumably and I have not yet managed to get the info yet.

Ganfeng may NOT want to buy MEGALIT [per Cadence themselves, it has "not been assessed in sufficient detail to provide a 43-101"]. No one knows UNTIL they make a move and that is IF or when if any.

I think from a commercial view: THE DISCUSSION CENTRES ON WHETHER GANFENG NEEDS TO BUY MEGALIT OR /AND MEXILIT AT THIS POINT AS L E G A L L Y CRITICAL to the SONORA LITHIUM ASSET A T T H I S POINT.

On the main KDNC site, tomcat-14, you talk of "HIDDEN VALUE" - it is "REALISIBLE VALUE" that is what is of IMPORTANCE TO EVERYONE.

Ganfeng - the maths has been done about BCN cash in hand, mark-to-mark Zinwald share/s but what was left out was CAPEX already raised by BCN which represents indirectly and loosely the mkt cap?

As for REM MEXICO LTD, MR LENIGAS SAID IT CAN BE SOLD SEPARATELY?

I am sure GANFENG HAS TALKED TO KIRAN MORZARIA, CEO OF CADENCE MINERALS AT SOME TIME OR OTHER as in the normal course of business.

The BCN takeover will take time and 6 June 2021, one will learn if the offer is made firm etc [technically] and then Ganfeng has to wait for their govt clearance which some reports say 8 mths waiting.

So, one has to see but in the meantime, one can take out the pens to do some sums.

Perhaps I will broach the subject with Mr Lenigas on Twitter openly [open tweet]?

I think he is the only one who knows the legal structure?

Sun, 9 May 2021

---------------------@tomcat-14 @9:09, Sat 8 May 2021-----
SONORA LITHIUM LTD
Registered at Companies House, UK
Link: https://find-and-update.company-information.service.gov.uk/company/

At the bottom of page:
"NATURE OF BUSINESS [SIC]
64209
ACTIVITY OF O T H E R HOLDING CO*S NOT ELSEWHERE CLASSIFIED."
----
MEXILIT SA CV [MEXILIT]
MEGALIT SA DE C.V [MEGALIT]
REM MEXICO LTD HAS A 30% INTEREST IN THE 2 ABOVE WHILST BCN HAS 70%

Link: https://www.cadenceminerals.com/projects/sonora-lithium-project/
--------
With the take-over of Bacanora Lithium Ltd by Ganfeng via an RNS in the last few days [possible], the ownership of the SONORA LITHIUM PROJECT becomes important to know.

RE: SONORA LITHIUM LTD [SLL] - PER YOUR POST YOU SAID THAT CADENCE MINERALS [OR RATHER REM MEXICO LTD , THE ORIGINAL SIGNATORY TO THE JV AGREEMENT WITH BCN] IS NOT PART OF SONORA LITHIUM LTD.

It is possible that Sonora Lithium Ltd holds MEXILIT SA C.V [MELIXIT] AND MEGALIT
AS AN A S S O C I A T E CO OR SUBSIDIARY as norm?

@tomcat14- You your self mention that BACANORA LITHIUM [BCN] HOLDS THE ASSET MEANING SONORA AT "HOLDINGS CO LEVEL."

If, either MEXALIT OR MEGALIT ARE EITHER ASSOCIATE COMPANIES OR SUBSIDIARIES OR SUBSIDIARY AND ASSOCIATE CO, THEN BY LOGIC AND EXTENSION, REM MEXICO LTD [HELD BY CADENCE MINERALS] MAY BE IN FACT P A R T OF THE SUBSIDIARY OR ASSOCIATE CO OF THE SONORA LITHIUM LTD [SLL]??

It is now important to know and open for discussion.

So, the question is whether Ganfeng now needs to buy MEXALIT [more importantly] and MEGALIT. The details are in the link I provided to Cadence Minerals website re: SONORA.

====
jimb2 is discussing Ganfeng- He may have missed Joe Lowry*s LATEST AS TO WHY GANFENG BOUGHT BACANORA.

News, Sun 9 May 2021.
For clarity, on KDNC, the ownership of Amapa is being discussed - again, something I also brought up.

OCEANA [Listed in Canada & Australia]
Fri, 7 May 2021
Share price: C$2.53
Mkt Cap: C$ 1. 7 8 BILLION
Source: Google Finance
====
"B2Gold reports strong Q1 2021 results."-Seeking Alpha, 4 May 2021

"The MASBATE MINES in the Philippines also had a strong start to the year with 1st Qtr 2021 gold production at 57,513 was above budget by 14%."

[3 operating mines]
https://www.seekingalpha.com/pr/18301844-b2gold-reports-strong-q-1-2021-results-quarterly-total-gold-production-of-2020644-oz-revenue-in-line-9-above

B2B Gold
Share price: C6.25
Listed in Canada & NYSE, USA
MKT CAP: $ 6. 5 4 BILLION
Source: Google Finance
---
Observation:
Both the above market caps show that when Mr Bird said in his latest inteview with Zak [GLR]
that "MANKAYAN: NO SHORTAGE OF SUITORS", the 2 co*s above does illustrate that there are
sizeable co*s in the Philippines. B2B Gold*s mkt cap at $6.54 BILLION does NOT appear to be a small co nor Oceana.

Typo: Mr Bird*s interview:
Should read 2030 [not 2020] wherein demand for copper will double.
2020 /2023 is the YEAR OF THE SMALL MINER.
2028/2032 Chairman where is the copper ie people will be asking of co chairman*s?

"COMPLETE TURNAROUND: PHILIPPINES DUTERTE LIFTS BAN ON NEW MINING PERMITS."-
Mongabay, 15 Apr 2021

https://news.mongabay.com/2021/04/complete-turnaround-philippines-duterte-lifts-ban-on-new-mining-permits/

"The ORDER is expected to EASE the entry of AT LEAST 291 EXISTING MINING APPLICATIONS."

Observation:
This is a lifting of a 9 year mortarium ie mining ban in the past , PRIOR to 15.4.21 when it was lifted. The Oceana case was one of the more high profile ones and the permit expired but today, it appears it is going to be RENEWED despite the mine permit had expired.
Anti-mining ...even set up blockages in the past. So, the FIRST DEVELOPMENT since the lifting via the Manila Times news today about the OCEANA PERMIT now discussed and going for signature /s to approve and the RE-OPENING of the big mine.

Oceana Gold Corp-Seeking Alpha, 3 May 2021
"Oceana Gold Corp: Worth a Bet on Didipio RE-OPENING."

"CEO Michael Holmes said in a conference call:
...restarting Didipio is a key catalyst for us. We expect that once FTAA renewal is finalized, the operation can contribute 120,000 ounces of GOLD and approximately 12,000 tons of COPPER
annually. At 1st quarile all sustaining-costs, DIDIPIO WILL BE A SIGNIFICANT SOURCE OF FREE CASH FLOW MOVING FORWARD."
https://seekingalpha.com/article/4423694/-oceanagold-corp-worth-bet-on-didipio-re-opening
---
Observation:
As Mr Colin Bird, Executive Chairman, BZT said the Philippines govt is going the sensible and realistic way kinda of thing. Well, this article was a few days ago and my post from the Manila Times is today, Sat 8 May 2021.

So, appears that Philippines is indeed moving on with mining etc since the lifting of the mining ban on 15 Apr 2021.

News just out from Philippines:

"Govt finalises FTAA RENEWAL for OCEANA GOLD."-The Manila Times, 8.5.21
Link: https://twitter.com/more_whit/status/1390964873886194944

"Oceana Gold Philippines [OGPI] 2 5 year FTAA became effective June 20, 1994 and its intial term EXPIRED on 29 June 2019, a yr AFTER it lodged its renewal application."

"An FTAA is a PERMIT....explore and extract minerals in the Philippines."

"The Mines GeoScience Bureau ...has concluded its discussions on Oceana*s renewal licence and that the new FTAA awaits the SIGNATURE of Secretary Roy Cimatu, Dept of Envirn & Natural Resources. After Cimatu*s signature, it will be forwarded to President Rodrigo Duterte for SIGNATURE."

"Once signed by Duterte the new FTAA will allow OCEANA to RE-OPEN DIDIPIO operations WHICH IS ONE OF THE LARGEST GOLD AND COPPER MINES IN THE COUNTRY."

Even tho it was closed Oceana helped the people and they are looking forward to getting their jobs back. 80% of the workforce ie 620 people were laid off - exludes thousands of workers in different businesses and service sectors indirectly created by the advent of LARGE-SCALE MINING.

Oceana is a AUSTRALIAN-CANADIAN CO.

----Industry news SINCE LIFTING OF THE MINING BAN IN PHILS , 15 APR 2021.----

GANFENG IS TO TAKE OVER BACANORA [POSSIBLE], 6 MAY 2021 RNS
So, Ganfeng has now offered a possible takeover of Bacanora for the SONORA LITHIUM PROJECT.

So, the REM story ends as Sonora, ranked No 1 in the world could be coming to an end shortly IF the takeover goes through.

Now, to see if Ganfeng would ALSO TAKE OVER REM MEXICO LTD THAT HOLDS THE 30% SONORA JOINT VENTURE IN THE GREATER SONORA LANDS under Mexalit etc.

AND AT WHAT PRICE IF THEY WILL MAKE A BID FOR REM MEXICO LTD [now under the Cadence Minerals KDNC umbrella]?

I have looked at it and have now come to a point that I have a view based on the facts seen.

News, Sat, 8 May 2021.
DYOR.

SONORA LITHIUM
What Mr David Lenigas started at REM re: Sonora with BCN now appears nearing the end.
If Ganfeng does take over Sonora, then the No 1 Ranked lithium project would have been taken over for US$264 million. Per Mr Lenigas, Sonara has $100bn bucks worth of lithium from recall.
So US$264m for Bacanora is 0.37% of the Value-in-Situ. However, BCN has already paid for part of the initial stage capex whilst the acquirer paid an earlier sum for the 29% approx shares or more accurately 28%+.

So, that ends my time here as an original REM*er.

As for Amapa, this is a new project under the new CEO and it will be a long journey given shipping & recomissioning of the mine will take X years as advised by the KDNC RNS.
Then, the MINE OF LIFE will be 14 yrs - NO broker has yet produced the mine of life figures for the iron ore etc so any one interested will have to wait for that licensed note.

I am NOT part of the group that is external to these forums.

As such, I always take a balanced view and work on conservative figures as the most important is whether the FIGURES AND THESIS EVENTUATES. Otherwise, one could find oneself in a position that one did not anticipate etc.

The BCN holders want the institution to buy more of BCN to thwart the takeover but the tues [Institution/s] are cognisant that they would have to then be responsible or need to seek another TIER 1 PRODUCER, secure off-takes, funding for the next stage/s, tackle logistics,
secure customers like Tesla and hire expertise for the technology involved not excluding
clay lithium expertise. In short, they will be in fact taking over the CHARGE of Sonora and dealing with the Mex govt if needed. So, lots to consider and one has NOT seen any tutes doing this and one wonders if their boards will allow the fund mgr to do so without board aproval and sanction for undertaking further massive funds needed. NEEDS A BACKUP PLAN IF HOLDERS WANT TO TAKE SONORA INTO THEIR OWN HANDS and also to take in what happens if the plan falls and the acquirer ....

This is beyond the scope of this forum as one has to wait to see what happens next. However, with another potash mine, this was all played out and the hedge fund [UK} owned by an individual in the main was NOT able to undertake such a massive task and in the end, the project outcome is well known + the share price in the days before that.

Lots of empirical examples and the tutes are cognisant of REAL LIFE AND WHAT IT TAKES TO TAKE ON SUCH A PROJECT/S.

Ta Ta.
Sat, 8 May 2021.
Thank you for all those who were friendly and helpful in my time on REM plc.

Had more time to listen again to the Colin Bird interview with Zaks Trader Cafe, 7 May 2021:
Mr Bird, Executive Chairman:
1] 2020 -copper double [think he is talking about demand]
2] 2022, 2023 THE YEAR OF THE SMALL MINER
3] In 2028 and 2032, people will ask Chairman where is the copper ?
4]MANKAYAN
Enough is Enough - TERMINATED CONTRACT {our advice}.
TAKE IT BACK TO BEZANT.
NO SHORTAGE OF SUITORS.
GET VALUE.
Since taking it over, copper price DOUBLED.
Attraction to Mankayan, now DOUBLE ATTRACTION.
Things needed there.
Philippines realistic, sensible approach ? "
https://twitter.com/Roostoshi/status/1390361463903166478 [#GLR]
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Observation:
So, APPEARS THAT MANKAYAN MMIH CONTRACT HAS BEEN TERMINATED PER COUNSEL*S ADVICE AND TAKEN BACK INTO BEZANT!?

BEZANT NOW OWNS 100% OF MANKAYAN IF I HEARD MR BIRD CORRECTLY?
From MMIH*s Linkedin, one is aware of the work-in-progress there per the heading.
Please check as I can provide NO WARRANTY.

So, kindly listen and check again but it now sounds like THE MANKAYAN ASSET IS BACK and that due to the copper price DOUBLING from when Mr Bird took it over, it has now DOUBLE ATTRACTION FOR HIM as he said. The Value-in-Situ PROVES what he said.

So, there*s ONLY the LICENCE RENEWAL NOW on 11 Nov 2021 and given Phils lifting of the mining ban on 15 Apr 2021, Mining Journal wrote on it as "MINERS TOAST PHILIPPINES LIFTING OF MINING BAN." and that Aussie miners keen to get in to Philippines for mining as posted on Twitter under #bzt.

Yesterday, Goldman Sachs said "The COPPER MKT AS IT STANDS IS NOT PREPARED FOR THIS DEMAND environment - FEW MAJOR MINES in development & NONE ON THE SCALE TO MEET FORECASTS..." [Source: "Copper price hits new record high as Chile gives bulls another reason to cheer."-Mining.com 7.5.21

Also, in the article, it said that Trafigua, Goldman and B of A thinks the copper price will extend whilst Glencore*s CEO said new mines need $15,000 copper. I note that the copper price is US$10,500 from reading Mr Bird*s other co*s.

Sat, 8 May 2021.

CO-OPERATION
So, from my last post, one can SEE that a co-operative spirit with goodwill can produce a FRUITFUL DISCUSSION that can lead to the RIGHT OUTCOME.

Case in point-the POSSIBLE TAKEOVER BCN RNS OF 7, MAY 2021 BY GANFENG OF SONORA LITHIUM.

I will leave it there.

Oh, may I also add that with the noise and going by some empirical actions seen, there is NO guarantee that X will NOT .....[Caveat]

Sat, 8 May 2021.

After posting I checked up on the 88% MINE ORE FEED. Too late to post but I got the info from Bacanora Lithium .

"Sonora Lithium Ltd [SLL] is owned by 77.5% by Bacanora & 22.5% by GANFENG.
SLL own 70% of El Sauz & Fleur concessions held by MEXILIT."
https://www.bacanoralithium.com/projects/sonora-lithium/
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With the increased Ganfeng stake, Bacanora owns 50% of SONORA LITHIUM LTD & 50% Ganfeng.
POINT OF DISCUSSION: WHO IS GOING TO BE THE OPERATOR OF THE SONORA LITHIUM PROJECT GIVEN 50-50%? Yes, there can be joint operatorship but usually that is not the ideal.
NOW ANSWERED: THE CLUE AS TO WHO IS GOING TO BE THE OPERATOR IS NOW ANSWERED VIA THE POSSIBLE T A K E -O V E R BY GANFENG OF BACANORA LITHIUM ON FRI, 7 MAY 2021.

--------------COMMERCIAL QUESTION NOW ANSWERED VIA THE TAKEOVER-------------
So, ahead of the curve, a very paying outcome relating to asking the question on this forum.
Hence, as I said, there is NO NEED A FRUITFUL DISCUSSION leads to a FRUITFUL OUTCOME.

----------------REM MEXICO LTD 30% STAKE IN THE GREATER SONORA LANDS MEXALIT-------
So, with NOT in SLL, DOES GANFENG NEED TO BUY KDNC*S 30% JV STAKE HELD BY KDNC VIA REM MEXICO LTD? WHEN DO THEY NEED TO BUY IT? DO THEY NEED TO BUY IT?
WILL THEY BUY IT?

-----------POSSIBLE TAKEOVER OF BACANORA BY GANFENG-------------
I note that the Sonora capex initial stage is over.
Sonora is being cleared via the pics.
The Mex govt via their press have been told that Sonora *s investment needs will be $400m and X$ [will check again] and given no sound from the govt , then came the takeover offer?
So, very biz orientated move?

BCN POSTERS DONT WANT A TAKEOVER
They may have to LOCATE A FABULOUSLY RICH WHITE KNIGHT who can write out big cheques or can raise the NEXT FEW $$ [will check the exact amounts that the co told Mexican press and govt].

So, RIGHT QUESTION -RIGHT PRIZE