Member Info for news

Sat 21:37, 16 Mar 2019: "Common to all junior exploration co*s and some more advanced, any 1 project that be a co maker."

Today, McArthur RNS [Glencore offtake of $4billion over 10 yrs etc-see details].

KDNC owns some 10% of McArthur.

Share price of KDNC nearing close at 4:15pm, Thur 21 Mar 2019 [After RNS] at 0.33p to Sell and 0.37p to Buy
+213.64% at HL [Advertised price and NOT live price].

KDNC is London AIM Top No 1 riser today.

Lol Ob2

Start of journey - 0.04p then Remers.

@2:30pm, Thur 21 Mar 2019. Sell is 0.23p and Buy is 0.25p [Advertised and NOT live].
After KDNC RNS today re: McArthur.

Thur, 21 Mar 2019 after MacArthur RNS today from KDNC.
At HL, advertised price [NOT live] is 0.21p & 0.22p to Sell and Buy.

today, Thur 21 Mar 2019@2.15pm after the RNS re: McArthur Minerals. See post below.

at HL with the advertised price [not live] at 0.17p & 0.18p [Sell and Buy] after the KDNC RNS today re: McArthur Minerals. Posting on this forum as this is such a nice event.

"MMS signs 10 year iron ore off-take for the Lakes Giles iron ore project in Australia with Glencore International AG. The Agreement is currently valued at approximately US$4 bn in revenue." https://twitter.com/CadenceMinerals
1hr ago, Thur 21 Mar 2019 @2pm.

There was a question in the tweet: "What does that mean for shareholders?" by J.

@BigBiteNow @13:25, Thur 21 Mar 2019

Quote:
"At 94.5p a share in Dec 2017, was that fair value. Fair value is what the co can achieve and is willing to accept."
Per BigBiteNow

Comment:
When you quote 9.45p a share in 2017, I am assuming you are talking of share price as at Dec 2017?

What is the difference between market value & fair value?
Online: " Some people use mkt value and fair value as a same thing but there is a DIFFERENCE between these two terms. FAIR VALUE is the price at which ASSET is EXCHANGED between knowledgeable parties at arm*s length transaction. Mkt value is the price at which the asset is exchanged between parties in the market."

There ends the discussion on fair value and mkt value as defined online. With thanks.
The VSA target price for fully diluted share price at £1.15p is today [Re-iterate Buy] with the assumption as said.

Founder of REM [now KDNC] tweet: "This is a very big deal for McArthur Minerals with a big iron-ore offtake deal for its Australian iron ore assets. Just announced. The market might not get the significance of McArthur*s assets but the big guys do." 35 mins ago, 21 Mar 2019

https://twitter.com/DavidLenigas/status/1108713820653043712

RNS at 12:43, Thur, 21 Mar 2019

At a quick glance:

"A Glencore agreement -$4 billion revenue in 1st 10 yrs. Commercial terms for approx 4m tonnes."

If ever it is worked out at 7-10 averages, then it could be open to a non "fair value" event. If one telephones the FCA, as the GKP did, the 1st thing they ask is or rather was: What does the broker report say?

Certainly, I am quite sure many will voice the broker report of today from VSA of "fair value" and assumption of 60p as said?

Endion at 12:45, Thur 21 Mar 2019: "£1.15 target was FULLY DILUTED including an assumption placing of 170m shares at 60p."

Thank you. Recommended.

Comment: Very clear now ie FULLY DILUTED ie the target price taking into account dilution "including an assumption of 170m shares" placing at 60p. It now appears to sound more reasonable which appears to be "fair value" at 60p as calculated by an FCA licenced VSA Capital [London investment bank] in their note today of : Reiterate Buy, Target price £1.15. Thur 21 Mar 2019

Endion at 12:45, Thur 21 Mar 2019: "£1.15 target was FULLY DILUTED including an assumption placing of 170m shares at 60p."

Thank you. Recommended.

Comment: Very clear now ie FULLY DILUTED ie the target price taking into account dilution "including an assumption of 170m shares" placing at 60p. It now appears to sound more reasonable which appears to be "fair value" at 60p as calculated by an FCA licenced VSA Capital [London investment bank] in their note today of : Reiterate Buy, Target price £1.15. Thur 21 Mar 2019

Share price of BCN 22.8p [mid] & Mkt Cap £30m mark [+-]- Thur 21 Mar 2019
VSA Capital-Reiteration Buy at £1.15p target price, 21 Mar 2019. [Dec 2018 Target Price:£1.15p]

Mention as per this thread by Endion of future placing at 60p by broker [?].

I would love it given that it could be Solgold again. If the placing were to be say, 22.8p or a bit less, there could be ? since it may not be "fair value" especially given VSA Capital attributed a value of £38m for Zinnwald, Germany [JV50%] and the target price is £1.15p.

So, if the broker has assigned a future placing price of 60p [I have not seen this yet as I do not have the full report], then it could be deemed as "fair value."

That also may mean that any cornerstone investors would also have to bear that in mind ie 60p although it is norm that they will also call for their own independent valuation + what is in the technical report ie NPV $1.2 billion etc?
This may be a bearing on any complex funding etc or private placement etc.

That way, no one could say that the co*s shares were not at "fair value" as calculated by a FCA licenced broker.?
As investors, "fair value" could be the transparent price.

DYOR. Please check.

Per Endion 12:19, Thur 21 Mar 2019: " I noticed that the broker has set a future placing price at 60p in the recent coverage. Any reason they would set that there or informed guess."

Comment:
It is norm that if a broker has set a price, then it may or could be considered "fair value."
This is especially given the target price of £1.15 [VSA Capital note re-iterated buy today at £1.15p] and the value of Zinnwald at £38m as per their said note plus Sonora NPV of some $1.2billion etc and the usual metrics of working it out?

VSA Capital appears to be FCA licenced as it is an London investment bank. However, please check with them. DYOR. I did not see the full note ie the 60p as mentioned above.

There is a very marked difference,technically between:

"Authorised" and "Issued".

So, even though a resolution was for 500m Authorised last year, it does not mean "Issued."
Does it not mean, authorised to issue as per norm?

Definition online: "Authorised are the no of shares a corporation is LEGALLY allowed to issue."

@8:24am: "Strategy & Operational Update."

Quote from the above GGP RNS:

"Paterson region represents one of the most exciting regions globally for the potential discovery of TIER 1 gold copper deposits as demonstrated by the recent exploration results at Havieron [Greatland Gold/Newcrest] and Winu [Rio Tinto]."

A historical perspective?

REM Greenland-Next/Near to Kvanjfeld World Class Rare Earth project, Greenland.

"Greenland Minerals signs tripartite MOU for Kvanjfeld Participation Agreement."-Proactive Investors, 7 Mar 2019

["Advancing towards development"]

Comment:
On topic industry news. Cadence [new name for REM] said on their website www.cadenceminerals.com that they are watching Greenland Minerals for development/s of Kvanjfeld etc in Greenland.

https://www.proactiveinvestors.co.uk/columns/vsa-capital-market-movers-30741/vsa-capital-market-movers---bacanora-lithium-30741.html

"We attribute a VALUE of £38m using a peer based EV/resource implying 10p/sh."

"BCN is planning to produce a flouride product at Zinnwald, which is one of the most valuable lithium products with recent pricing indicated at around US$22,000 and could be used by the local German chemical industry."

"...With this technical selling now indicated to be complete we expect stronger support for the stock. However, the Fundamentals of the stock remains unchanged with SONORA remaining a highly attractive a s s e t which is DEEPLY UNDERVALUED, in our view."

"We re-iterate our Buy recommendation at £1.15p/sh target price."

"Please click here for our Initiation note." [This was the note quoted last night from Dec 2018]

Comment:
This morning*s note is entitiled: "VSA Capital Market Movers" on BCN -"VSA Capital Ltd is a London based investment bank providing corporate finance and corporate broking services to co*s operating in the natural..."
[From Proactive Investors UK preamble]

By the way, VSA Capital would appear to be FCA l i c e n s e d to carry out calculations.

Please check as copying from note taking.