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I have just posted a new article from Reuters dated 24 Mar 2021: "Mexico eyes bigger role in lithium industry: sees speculation in mining concessions."

As I said Mexico wants to be big/bigger in lithium and has made mention of the Bolivian situation re: lithium.

GANFENG IS MENTIONED IN THE ABOVE ARTICLE RE: INCREASED STAKE FROM 22.5% TO 50% IN SONORA.

REM HAS 30% SO AS SAID APPEARS TO BE OF VALUE AS ITS A CONCESSION? SONORA IS RANKED NO 1 IN THE WORLD FOR LITHIUM. SO, NOT SURPRISED THAT IT IS OF IMPORT?
JUST AS BOLIVIA IS OF IMPORT IN THE REUTERS ARTICLE WHICH ALSO TALKS OF MEXICO?

Now sure what the Mexican govt is going to do as it said it would NOT affect granted concessions but is now said to be analysing so one has to WAIT TO SEE WHAT COMES NEXT???

DYOR. PLEASE DO DUE DILIGENCE AND CHECK.

Thur, 25 Mar 2021.

NEWS JUST OUT:

"Mexico eyes bigger role in lithium industry, sees SPECULATION in mining concessions."- Reuters, 19 hrs ago, Thur, 25 Mar 2021.

"Too many mining concessions had been handed out before he took power at the END OF 2018.

"Asked about his views about mining co*s selling stakes in lithium projects in Mexico even as his govt PUT A STOP TO NEW CONCESSIONS."

"The question made particular note of an announcement in Nov that the Chinese co, Gangfeng would INCREASE its stake in BACANORA MINERALS S O N O R A project in Mexico FROM 22.5% to 50%."

"We are analyzing the possibility of having a BIGGER PARTICIPATION IN THE EXPLOITATION OF LITHIUM, Lopez told reporters, noting too many mining concession had been handed out before he took power at the end of 2018."

"Bolivia*s Arce said his govt was restrting talks with Germany over developing the LITHIUM industry and noted it could be useful to explore working with OTHER countries as well. Bolivia*s Arce said the OUSTING of his former ally, Eva Morales was to GAIN CONTROL OF BOLIVIAN LITHIUM RESERVES."

----------
My comment:
I did say to read about Bolivia AS WELL. The Germans had an agreement with Bolivia to develop lithium etc which results in lit etc but looks like that is being resolved now.

For MEXICO, the above is a NEW DEVELOPMENT.

Given on REM - REM OWNS 30% OF SONORA MEXALIT, the greater part which gives 50 years of mine life but the other parts making a total of 250 potential mine life [250yrs minus 19 years for BCN-Ganfeng Ventana and minus 50% in the 2nd part of Sonora]. With Ganfeng owning 50% of Sonora now that is 35% 35%=70% vs REM*s 30% [kindly check all the links etc]. REM is named as the BCN JV, not Cadence Minerals as the agreement was drawn in the name of REM-BCN re: Mexalit [El Sauz, El Sauz 1 and Fleur, greater Sonora]. Ventana was owned 100% by BCN at Sonora and which forms 88% of mine feed. Now, Ganfeng owns more of Ventara -see REM .

Please check and do due diligence. Just news.
DYOR.

Thur, 25 Mar 2021.
As said SONORA IS RANKED NO 1 IN THE WORLD FOR LITHIUM [ref: Mining Tech]

Lithium has been in HIGH GLOBAL DEMAND..."

Ref: "Midas share tips: REM well placed to benefit from big demand for lithium."-18 Oct 2014[Mail Online].

"Owns 1/3 of a lithium project in Mexico which has already discovered 3.3Mt ...EQUIVALENT to 10% of CURRENT ANNUAL SUPPLY.."

"Shares 1p, Mkt Cap £57m."

"Costs hard rock £2,800 per ton brine £1k and REM*s cost £1k or below cheaper than most rivals. Lithium selling for £4,4k"

----
Ref: "Small cap ideas: Bacanora Minerals offers ground level entry to EV switchover."-Mail Online, 21 Dec 2020

"VSA Capital: BCN HAS A LOWER DIRECT INTEREST IN SONORA....shareholders....

Ganfeng-Top 3 in the world with $17bn mkt cap.

BCN also owns Zinnwald in Germany [lithium] with Erris.- Mine life of Zinnwald is 30 YEARS with a value of $428 MILLION IN A STUDY."

----
ZINNWALD - 30 yrs mine life $428m value put in a study.

So, a 250 year mine life potentially for SONORA RANKED NO 1 IN THE WORLD - one can do some simple maths although the jurisdiction is better in Germany being in the EU. Zinnwald has a seperate listing in London.

----
REM HAD A 20% STAKE IN BCN AND 20% IN EMH, Europe*s largest lithium deposit in Czech Republic, EU. The 20% stake in BCN is no longer current but the EMH stake is still 10% per last reporting [EMH had a recent mkt cap of some £175m or so.]

Thur, 25 Mar 2021.

contd

otherwise SONORA would NOT EXIST as co*s in Canada could NOT raise capital at the time [historical ]. Hence, how David Lenigas took a shell and renamed it REM plc starting with a £1m *s info of £95m]. Most bought in at 0.9p or 1p.

REM - SONORA
So, effectively, BCN-GANFENG NOW OWN 70% [35% 35% EQUALLY via 50% stake in Sonora by Ganfeng?].

OPERATOR HAS TO HAVE 66.5% per Observer842 with thanks and link.

*******SO, IT WILL NOW BE OPERATOR, SONORA 66.5% ---VERSUS ---- REM AT 30%.******

How BCN and Ganfeng will settle the operatorship status will be subject to more news and that is not within REM *s business or remit.

----------WOW! REM IS NOW 30% VS 66.5% OPERATOR.------------
------REM HAS OVERNIGHT BECOME THE JV PARTNER WITH THE OPERATOR-----
---REM STAKE OF 30% IS NOW ALMOST EQUAL TO BCN 35% STAKE [for now]------
---REM HAS GONE FROM 30% VS BCN 70% PREVIOUSLY, a smaller player to a SIGNIFICANT PLAYER--------

BCN has a share price of <45p, MKt Cap £145m.
REM-KDNC @18p has a mkt cap of <£24m. I have not checked today so just approx.
B
Well done to Mr David Lenigas, Founder and Chairman of REM plc who put shareholders in this enviable position by way of his CONTRACT BNC- REM. The word REM is marked in the map for the 50 years part of the next SONORA shaded part.

I cannot provide any warranty and hence up to each one to do due diligence and research & checking. This is only for discussion only.

News,
Thur 25 Mar 2021.
Thanks to Barksy1 [REM*er from days of old] and Observer842 [old-timer in REM] and me on this open discussion. Pity Ivybush did not take up my invitation to chat here with any input.
This discussion is open to all as on KDNC.pl, I did say that info about Sonora was on this forum which is appropriate as REM IS NAMED IN THE SONORA AGREEMENT - MAP AND NOT KDNC.
REM was later named KDNC after Mr Lenigas was no longer Chairman.
DYOR.

[35% BCN, 35% GANFENG TO DECIDE CONTROLLING % BY WHATEVER WAY in terms of further corporate moves]

---------SONORA LITHIUM, MEXICO - NO 1 RANKED GLOBALLY -----
[ref: Mining Technology of 10 Largest]

BACANORA - GANFENG
Ganfeng paid 25p to take a 29.9% stake in Bacanora.

Also, Ganfeng took a 22.5% DIRECT STAKE in Sonora that in Nov increased to 50% exercise option of £21.9m.
[Ref: "Bacanora Lithium gets big boost as Ganfeng ups stake in Sonora."-Proactive Investors, 17 Nov 2020.
--------
REM used to own 20% of Bacanora stock - the Canadian rules were that any holder of a 20% stake can make a TAKEOVER offer. Indeed, that did happen and BCN said that REM offer £1 which they rejected.

In the UK, the takeover rules are DIFFERENT is it needs 29%+ for a takeover. So, hence, Ganfeng has 29.9% [NO FURTHER DETAILS given as sometimes there is more detail about the 29%+ threshold].

-----
GANFENG -50% OWNERSHIP OF SONORA with BCN.
So, what Observer842 said is correct.

Mexilit SA de C.V [El Sauz & Fleur] that used to be 70% OWNED BY BACANORA [BCN] & 30% REM will now turn into 35% BCN, 35% GANFENG [by virtue of the new 50% ownership by Ganfeng of the SONORA CONCESSION etc ITSELF] & 30% REM [the original co].

OPERATORSHIP OF SONORA
Per Observer842, the detailed fine print is that the OPERATOR of Sonora Mexalit has to HOLD A 66.5% SHARE NOT THE USUAL 51% [1% more than 50%] as is the norm.

SONORA MEXALIT
The shaded part which has studies etc done is for 50 YEARS vs 19 years for the 1ST VENTANA PRODUCTION [88% lies in Ventana that BCN used to own 100% but now cut down to 50% as above]. SONORA HAS A POTENTIAL MINE LIFE OF 250 YEARS so both the shaded part [50 yr mine life] and unshaded part of Maxilit forms THE LARGER AND BIGGER MINE LIFE POTENTIALLY [ 250 years minus 19 years minus 50 years = 181 years].

BY WAY OF COMPARISION, THACKER PASS, NEVADA, USA OWNED BY LITHIUM AMERICAS HAS A TOTAL MINE LIFE OF 46 YEARS - THACKER IS RANKED NO 2 IN THE WORLD. Lithium Americas owns Thacker Pass 100% and has a mkt cap of some $2billion+ with 2 projects ie Cauhari in Argentine and Thacker Pass. Ganfeng has just paid $16m to gain the extra 1% to bring its stake in Cauhari, Argentine to 51% [assume ownership if norm as normally 51% has operatorship?].

WHAT HAPPENS TO THE GREATER SONORA LANDS - MEXALIT?
Since it is specifically written that operatorship has to be 66.5%, that means that ONLY BCN & GANFENG [35% + 35% = 70%] can become the OPERATOR as this meets the threshold of 66.5%.

BCN cannot get together with REM to form the OPERATOR [35% + 30% = 65%, SHORT of 66.5%].

Can BCN and Ganfeng become EQUAL OPERATORS? They can but usually there is only 1 operator and joint operatorship is not the norm per my own personal experience only? So, if Ganfeng UPS their stake FURTHER in SONORA PROJECT DIRECTLY FROM 50%, then it is possible that they have a slight % edge over BCN. This is outside the scope of REM as shareholders are only interested in REM plc under David Lenigas as Founder and Chairman who brought in this project

--------MR COLIN BIRD, EXECUTIVE CHAIRMAN, XTR RACECOURSE--------

Mr Bird*s other co, MKT CAP £354.63 MILLION has today announced that £6.6-TAX PROFIT has jumped 4 FOLD for the 6 mths ie from £6.6m to £24.4m with South Africa and Zambia evolving.
The co is also ramping up production WITH A 1ST COPPER CONCENTRATOR.

So, Mr Bird knows a thing or two about COPPER and PGM*s.

XTR*s RACECOURSE IS DOMINANT IN COPPER.

Leosayer posted last night about ENTERING NEW PORPH East to West @1,500m, so there is MORE to come. Mr Bird mentioned FOOTROT, Bushrangers which is just below Racecourse and that is also under the AA licence area. AA had drilled Footrot and work also done by Tooday so more to come also on that in terms of tonnage etc given Mr Bird has made reference early on and of more recent interviews.

DYOR.
Thur, 25 Mar 2021.

Part 2

It may be of interest that even for Cadia-Ridgeway, there were results SUCH AS "NC371 in Nov 1995 of 118m @0. 10 % cu COPPER. This is from Discovery of the Cadia-Ridgeway by 3 authors who were the original geos who discovered the deposit.

Likewise, BODA also had 0.10% cu copper from recall - I posted the detailed DRILLRESULTS of mid 2020 and Nov 2020 from Hartleys and Edison broker report.

So, given the GEOLOGY and the fluid flow is the same time period as CADIA-RIDGEWAY, Australia*s LARGEST deposit, how can one say that XTR*s Racecourse would have to be different and mimic say ZAMBIA*S grades?

So, ALL Lachlan Fold, NSW, Australia grades have come in that way and can be checked, one example is the Edison and Hartley broker reports of May and Dec 2020 which gives all the detailed results. Even then, there were lots of holes in the lower quartiles. FACT: BODA IS NOT GOING TO BE THROWN AWAY. Reason? PORPHYRIES PER MR BIRD AND STANDARD TEXT IS HUGE OR HIGH TONNAGE BUT LOWER OR LOW GRADES.

RACECOURSE SCOPING STUDY
0.2% cu copper CUT OFF = ECONOMIC @ US$7,500

0.15% cu copper CUT OFF=ECONOMIC @US$10,000

Copper is currently US$9,000+

All FACTUAL and open for checking & due diligence.

Thur, 25 Mar 2021.

Ella10

With the greatest of respect, the Hole 1 assay notification was NOT LATE nor delayed in any way.
John Cornford, Mining Analyst, Master Investors said in one of his articles that it would take ONE MONTH. I marked the DATE out but I did NOT post the date on this forum. That is because in the past, such information is not always welcomed.

Once the assays are at hand on the date, it cannot be released there and then. The TECHNICAL TEAM must look at the lab results and match them against the XRF in DETAIL. Greatland Gold said so ie that it must be REVIEWED BY THE TECHNICAL TEAM 1st.

In the case of Solgold, the world renowned porphyry expert, Dr Steve Garwin [Chief Geo] has to review and in one case, the lab results were wrong and sent back to the lab to re-check.

So, all NORM and within the rules timeline for disclosure. There is what is known as TAKE DUE CARE even for lab results.

Steve4077@0 has given the UPPER HOLE 1 RESULTS and that has come in at 156m near surface at 0.5% plus a further 186m @0.4% in the same drill hole are great results for any co. Further 578m of the economic min in the same hold [0.26%]-great results, folks disp. ...

Stevemocal said yesterday: 1 HOLE DOES NOT MAKE A JORC. That*s FACT.

EDISON BROKER REPORT DEC 2020: BODA :700MT TO 2.24BT @ "UP TO 0. 3 5 G/T."
Boda CEO said in Jan 2021 RNS/ANN that he thinks the co is heading for Tier 1. Well, 700Mt to 2.24Billion Tonnes is certainly Tier 1 potential territory?

DIMENSIONS OF BODA: 1,000m STRIKE x 1,000m DEPTH x ? [previous 450m width]
DIMENSIONS OF RACECOURSE: 1,000m STRIKE X 1,000m DEPTH x 1,000m WIDTH [Bird]
with Jorc 71Mt 0.44% cu & 0.064g/t au with Hole 1 [under XTR] @0.33% cu eq.

So, if BODA is heading for Tier 1, is it any wonder Mr Colin Bird stated yesterday: "MOVING TOWARDS 2MT - M A D E T H E G R A D E." 24.3.21 Sharetalk Interview.

With thanks.

Thur, 25.3.21.

ANOTHER DL CO IN THE NEWS: AOU

A tweet: "This ASX stock to help BHP help Tesla.
Named is Vulcan Energy : +1, 638% [this is the Australian lithium co that has a lithium proj in German. Gina Rinehart and son are big stake holders. Yeah, she knows how to hedge iron O."

EMH is named also. - a DL pick.

Now, Auroch is making the news for nickel - a DL pick for KDNC.

Its all over Twitter among Aussies but I have not looked into it yet in detail.

https://twitter.com/PilbaraWolfee/status/1374540743079989249 19 hrs ago.

Wed, 24 .3.21.

Since so many people are talking about AOU for the nickel and maybe lithium, it could be they hit...? biggish? big? Will find out when I have more time. NICKEL IS A BATTERY METAL which Elon Musk is chasing after and that*s what he says he needs.

Oh, I cite the example of Solgold. Solg owns for example 85% of the licence and the other 15% is owned by the other co in Canada.

Solgold not so long ago made an offer to buy this 15% from the other co in exchange for shares. Why? Apparently, it is more difficult if there is a 15% holder but they chose NOT to give details but this is something generally known especially in property issues.

Ah, so.

Mr S also talked about 20,30 and 50kt from recall at the video interview, 3 wks ago but did NOT mention about the JV*s but he did say that the placing was done at 20% discount.

Foks are like in a spin as to why their co is lower than EMH, another REM investee co in terms of mkt cap.

Well, the market may be cognisant that the perceived mkt cap is to the % held, hence why Lithium Americas has a $2bn + valuation ie mkt cap and so have many other co*s that have no JV.

Just for discussion as to the merits and non-merits of JV*s etc and how it is difficult.

Now, there*s 3!!! LoL, even more complex now.

REM 30%.

When those folks that are asking find out they have 35% I am not sure what happens next?

Their blood pressure may go up.

Obs,

SNAP!!!

I was looking like ....to find out. BCN at £145m for 70% of SONORA, the most desired at NO 1 ranked or KDNC at 30% at £24m. That sounds like a A level paper question.

Exactly, I was doing the EXERCISE TO FIND OUT EXACTLY THIS.

I was chopping KDNC MKT CAP into tiny bits to find this out as to how far there is give or FREEBEE in the price.

Secker NEVER mentions REM in his video*s as if it does not exist at all ie Cruxinvestors video, 3 wks ago.

Yeah, if anyone want to do they have to do LOADS OF SUMS and how this is going to play out.

Will REM WIN ROUND 2?

REM lost ROUND 1 ie takeover?

Is there a slip and DL had the greater legals to draft the REM-BCN agreement?

Ah, one would like to see that agreement and take a magnifying glass to the SMALL LETTERS.

Yes, Obs.

If BCN liked us to bit, then yes. But thus far, REM has never passed their lips even at the Cruxinvestors video interview.

So, lets say that it may be a bit too hopeful.

Given 35%, 35% is stronger than 30% cos that extra 5% that either of them hold is still stronger in terms of %.

However, even if it was 35% + 30%=65% which as you say has another small clause that says majority 66.66% in this project.

Well, that is a real soup now? As said, of the legal type.

This will be just like the Amapa situ cos now can REM have a strong position as the 30% holder ie NOT AGREE. However, as said if they HAVE MINORITY RIGHTS, THEN IF AKIN TO CO LAW, ITS NOT A VERY STRONG ONE.

Hmm, one for the AGM question by whoever is interested?

Of course, DL would know cos he signed the agreement and knows if there are more...for REM benefit?

See, what I mean by never just jumping in WITHOUT fully getting EVERY bit of info and due diligence. This demonstrates it.

For the record, Mr C said I was naive re: DL.

How can I be naive. I have demonstrated that DL was in fact the clever one as related here today.

Also, the BCN presentation states: BCN - R E M.
So, it was REM under DL.

DL said he had it written in that they ie REM COULD DISPOSE OF THEIR 30% SEPERATELY WITHOUT ANY REFERENCE TO BCN. Hope so.

So, how is this going to play out? BCN cannot join up with 30% = 65% operator.

So, Gan takes over BCN [hypothesis], that will could mean 70% STAKE IN SONORA JV LANDS?

Even then, REM could object but maybe company law comes in as REM with 30% and the takeover co has 70%, then REM could be deem or looked at as the MINORITY HOLDER. In shares, that is the case of minority holders and the legals that pertains to it.

However, in this case, I am not sure about this aspect?

Have to check if I have time or think about it as minority holders have limited rights but to what extent in a commercial transaction of a deposit, I am not yet clear at the moment.

AH. YES, MORE AND MORE COMPLICATIONS OF THE LEGAL TYPE WHEN IT IS NOT 100% OWNED NOR IS IT 70-30% NOW.

LoL - wonder if X knows?

LoL

Trust a TINY CLAUSE IN SMALL LETTERS.

Majority is 66.66%!! A LEGAL OVERIDER WAS BUILT IN to supercede the normal 51%.

In the case of Cauhari, Gan has paid a whopping $16m just for that EXTRA 1% to Lithium Americas to earn 51%, not the old 50%.

Hmmm.

NEXT, LITCHFIELD.

A lithium property to XXXX for - Core wants to throw money ie buy from what I perceive of what they said of nearby ltihium having just raised $40m just like that with international institutions giving them telephone no*s.

What about that?

Again, another DESIRABLE LITHIUM POST-CODE THAT BELONGS TO THE NEW REM-KDNC?

How about that?

Mystery NOT SOLVED.

Are they are are they not into lithium? That was DL*s vision and he acted on it ie SONORA AND CINOVEC.

Wed, 24 Mar 2021.

Same here for me, Barksy1 - that*s our perception only.

Obs, I think the maths now works out to be 35% BCN, 35% GAN & 30% REM.

Now then, THERE IS NO OPERATOR here at 51% ie legal MAJORITY HOLDER.

Given BCN and Gan are seperate ENTITIES for legal reasons and otherwise [NO MERGER OF CO*S], that means that there is going to be a LEGAL PROBLEM.

NOTHING CAN PASS WITHOUT REM*S APPROVAL.

WITH THAT, IT ALSO MEANS THAT THE 2 IE BCN AND GAN DO NOT HAVE MAJORITY OPERATORSHIP.

If BCN merges with REM ie 35% + 30%= 65% then there is MAJORITY HOLDING OF OVER 50%. Only 51% MAJORITY CAN ONE BE THE OPERATOR.

LoL- NOW ITS STUCK.

Hence, why in property, any % SPLIT can cause problem, say giving son and daughter 30%, 30%, 30% and 10% to someone else. They*ll be in a fix once the % are like that. Hard to sell as there is no clear ownership and anyone one does not agree ie SIGN AGREEMENT = nothing gets done.

Well, what a situation now re: SONORA GREATER JV LANDS.

And so, the story of Sonora is told?

Hmm, now I know why they say that when there is something worth a kings ransom ie fortune, watch it.

Finito.!!!

I was looking for answers and praise God, I decided to perservere to ask questions. I am the kid in school that ask questions and NOT DIVE IN.

Now, the COIN HAS DROPPED.

Otherwise, I could have GOT BURNED to cinders.

God saved me as I had this unease over a lot of questions marks.

BARKSY1 - what can I say?