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REM proposed a takeover of BCN [Sonora Lithium Mexico] for 88.5p. Today, BCN*s share price is around the 17.5p mark awaiting funding news. A recent broker target price is £1.15.

In a takeover, the documents would have to be detailed and no doubt financial outcomes would be one of the subject matters the big holders would want to know. I believe that REM did not buy a lot of BCN shares at £1. I remember the Founder of REM buying BCN shares in Canada [only listed in Canada then] at very low prices. It is norm that takeover prices are worked by the M & A people. Therefore, I doubt it could be raised further given that M & A always work out fair value.

It is obvious that funding is 1 key metric to production.

BCN per the overview article first approached investors in Asia etc. Recently, BCN appointed Citi to locate funding.
There is yet no news on lithium funding eg at Nemaska.

So, one can see that there is a differential between funding and awaiting funding?

In the case of the high profile Bald Hill, Tribeca Natural Resource Fund of Australia extended a $40m facility. Bald Hill is in Western Australia, ranked No 2 for mining jurisdiction in the world. Perhaps, why KDNC is next door. In earlier times, I doubt that it would be so easy to pick up Australian lithium assets. Bald Hill*s lithium has no mica etc [see post on REM] so that is another plus. Tribeca tends to lend to Australian projects.

I checked MMS where KDNC owns 10%- quite good progress and folks in Canada are talking about it on their forum. Breaking off for a few minutes for tea, so not editing.

Sonora Lithium - pricing is subject to negotiation and this may be one area that needs to be cleared. There is no spot or futures for lithium pricing. So, in a BFS, there may be 3 scenarios. However, how does the 3 scenario prices stick when the prices are subject to negotiation. This is perhaps where lenders are somewhat unsure? That*s the idea I got from reading the article/s on lithium.

Sonora JV- It is preferred that one co owns the w h o l e licence. I have just seen one example where a minority JV partner is to be bought out via an ALL share deal. However, that would have to wait until BCN*s funding is clarified so that KDNC would obtain fair value post funding if that can be achieved? I believe this is not that unusual. That will also apply to Yangibana?

Observer842-

The article on Sonora [overview] said that it would be No3 and that it would last 300yrs. However, the latest BCN presentation said their own 100% licence would last 20 yrs and the rest eg JV 50 yrs. So how does the 300 yrs come about. Someone on KDNC said that the JV does not come into play until 6 yrs from now.

I will type my post as I go along otherwise it will be too long. Thanks.

Observer842. I will start typing. Bear with me.

observer842 - could we chat via posting on the other LSE KDNC forum on NEX? Thanks. It might be boring for others.

John Treacy: Non-Executive Director of Abal Group plc. https://www.abal.com/directors
[Simon Charles, Chairman & John Treacy, Non-Executive Director -Abal Group plc]
-Awaiting CEO & CFO?

Since Connor1969 has posted about Mr Treacy*s other shell on this thread, it may be also worth mentioning another Treacy shell issued an RNS today, Wed 6 Mar 2019. It was to raise a small sum and a potential RTO whilst winding down the legacy business? Please check details.

So, it appears that all 3 Treacy shells including Abal Group plc have news flow.

Wed, 6 Mar 2019

on NEX. Link: https://www.nexexchange.com/member?securityid=17818

Not long to go before the announcement of the International Tribunal outcome on the CHL Annulment case.

Wed, 6 Mar 2019
Recommended post that informed us of the above earlier.

Since REM-KDNC^s PICASSO lithium asset is NEAR the high profile Bald Hill Lithium mine, Western Australia, maybe the Proactive Investors Australia interview with their CEO may offer arm-chair insights?

Link: https://www.youtube.com/watch?v=4SnlO7Dk2rg dated 15 Jan 2019 [Off-takes etc]

On-topic for industry news of REM-KDNC*s neighbour.

Tues, 5 Mar 2019

Lithium Technologies Pty Ltd & Lithium Supplies Pty Ltd - the vendors of 3 Australian lithium assets sold to REM-KDNC per RNS of 4 Mar 2019 are listed on Bloomberg as:

"Sector: Financials"
"Industry:Asset Management"
"Sub-Industry:Investment companies."

Note: It is on open file and free to read as it comes up on search. Please check. Question answered.

"Fraser Institute Annual Survey of MINING CO*S 2018 is now out. WESTERN AUSTRALIA ..We now RANK as the 2ND most attractive JURISDICTION in the W O R L D for mining." 7 hrs, Tues 5 Mar 2019

https://twitter.com/Artemis_ARV/status/1102768110388502528

Comment:
REM [new name KDNC] acquired 3 Australian lithium assets include PICASSO, NEAR High Profile Bald Hill Lithium mine, WESTERN AUSTRALIA.

On-topic. So, Picasso appears to be in a No2 world mining ranked jurisdiction.

"Australia - One of the LARGEST producers of lithium accounting for nearly HALF of WORLD SUPPLY.
Predicted to g r o w at 12% from 2017-2024, demand for the rare metal BOOMING."

4hrs ago, 5 Mar 2019

https://www.quarrymagazine.com/Article/9019/Wheel-loader-boosts-lithium-production-at-WA-mine
"Wheel loader boosts lithium production at WA Mine.-Quarry Magazine

Comment:
The news that REM [new name KDNC] is acquiring 3 Australian lithium assets is best looked at what is the position of Australia in terms of lithium producer world ranking.

This is a MAJOR change so for history, it is right to record the START of REM with Sonora [BCN] and now the potential for their own up to 100% projects in Australia [RNS 4 Mar 2019]

Tues, 5 Mar 2019.

On Twitter, someone tweeted me re: REM. Its too open on Twitter to reply. So, since it is about REM, I replied here.

I do not intend to post much longer as I am just completing the change in strategy of the co per today*s RNS.

It provides a historical perspective.

KDNC LITCHFIELD LITHIUM PROJECT, NT, AUSTRALIA today*s RNS, Mon 4 Mar 2019
NEXT DOOR to Core*s Finnis Lithium project.

"Core is proposing to develop ONE of AUSTRALIA*S HIGHEST GRADE lithium resources at the Grant*s deposit & highly prospective BP 33 deposit, both of which are integral components of the Finnis project.

...substantial infrastucture advantages, grid power, gas and rail within easy trucking distance by sealed road to Darwin port - Australia*s nearest port to Asia.

https://corelithium.com.au/finnis-lithium-project

Comment: Wah!

Picasso Lithium project NEAR High Profile Bald Hill Lithium mine - KDNC PLAYED A BLINDER!?

"Tawana gains $40million backing Alliance merger , BALD HILL MINE pickup."- Proactive Investors Australia [2018][Overview]

Quote:

"Ball Hill Lithium Western Australia is a DRAWCARD for Tribeca LENDERS. Low in magnesium, iron and mica, it is HIGHLY SOUGHT AFTER by lithium converters. Bald Hill LITHIUM will ultimately command its OWN PRICING."

https://twitter.com/LONDONAIMCAP/status/1102678098825355270

Tribeca Natural Resources Fund is a well known fund and is also an investors in DGR, Solg*s mother co.

From today*s RNS, Mon 4 Mar 2019, it appears that KDNC [old name REM] is morphing into an Australian exploration co: "Cadence Minerals acquires lithium mineralisation a s s e t s in Australia."

1)Picasso Lithium W.Australia NEAR High Profile Bald Hill Lithium Mine belonging to Alliance Minerals [A40:ASX] with a Mkt cap of A$248m @19c. "Alliance RAISED $40m to develop Bald Hill and lithium assets in the zone - that underlines the Opportunity & UPSIDE for Cadence."-Kieran Morzaria, CEO, KDNC [Cadence]

2)Litchfield Lithium project, near Darwin, N.T, Australia NEXT DOOR to Core*s [CXO:ASX] Finnis Lithium with a Jorc of 2.7m tonnes. CXO Mkt cap of A$40.27m @5.8c.

3)Alcoota, Alice Springs, NT, Australia - geo chem assays had returned 10.25 & 9.6% of lithium suggest a pegmatite zone...

KDNC [REM] INVESTMENTS:
4) MacArthur, Canada - Lake Giles Project, Western Australia. Mkt Cap C$16.77m @0.55c.
KDNC owns 10% of MacArthur. [Roughly = £1m to KDNC, Mark to Mkt]

5)Auroch [AOU:ASX] - South Australia*s Adelaide Geo syncline over 2% COPPER, 20.4%, 15.25%, 8.55% & 5.52% copper, 1 K M l o n g. Mkt Cap A$6.13m @0.061c.
KDNC owns 6.6%.

6) Yangibana 30% JV with Hastings Metals Technology - Rare Earth project, Australia
Hasting*s Mkt Cap: A$108.9m @14c.

WESTERN JURISDICTION
1) Licence NEXT TO Kvanjfeld, World Class rare earth project, Greenland belonging to Greenland Minerals Ltd on ASX.

LEGACY INVESTMENTS:
1) KDNC has a 4.89% stake in Bacanora plc [LON:BCN], Mkt Cap £24m @18p - Sonora World Class Lithium, Mexico
+JV. [RNS 1.3.19]

2)KDNC has a 19.1% stake in European Metals Holding [LON:EMH] Mkt Cap £25.6m @17.5p [RNS 28.1.19]

So, roughly if say at 25% total stake in BCN & EMH @£50m comes to approx £7.5m [Mark to Mkt on the open mkt]

KDNC*s Mkt Cap today, Mon 4 Mar 2019 was £7.85m @0.1p.
So, the BCN, EMH stake = £7.5m and MMS [MacArthur] £1 appox = £8.5m without taking into a/c Auroch.

Comment:
Australia is a lithium exporting country and the mkt cap and funding metrics is advantageous [see K. Morzaria*s comment in today*s RNS re: Picasso and Bald Hill as above].

Australia is also a Tier 1 jurisdiction.

News, Mon 4.3.19
DYOR.IMHO

The RNS today re: Australian lithium news as above appears to be a Strategic Change since the rejection of REM*s takeover offer of 88.5p for Bacanora [Sonora]. The lithium assets can be owned UP TO 100% and as the CEO said today in the BBR Media interview, KDNC*s destiny is in its control [para phrased so please check].

So, in the days to come, one will await further developments. On Twitter, I have posted more on Bald Hill and the shortness of time from drilling, PEA and development of mine plus the metallurgy is simple processing etc.

CEO*s BBR Interview on the 3 acquisition assets in Australia and own destiny.
https://twitter.com/CadenceMinerals/status/1102501033283063808 [Ref: RNS, Mon 4 Mar 2019]

Comment:
Could not have come sooner with KDNC at 0.102p on Fri, 1 Mar 2019 with a mkt cap of £8.44m
[52 wk low 0.10p & high 0.28p]. Shares in Issue 7.8b.

Shares are up 4.88% on today*s RNS as above, Mon 4 Mar 2019

What appears to be the start of a new beginning for Cadence Minerals [KDNC] via up to 100% participation in 3 lithium prospects in Australia [2 in NT and one near Bald Hill]. Australia is a Tier 1 jurisdiction.

This move sets it apart from investments in other co*s eg BCN, EMH etc of which REM had no total control over?

The original initial prospect at Sonora Lithium Mexico culminated in a takeover proposal at 88.5p but it was rejected by BCN.

So, this move into Australia is akin to REM 2 original days?

So, appears to be a new beginning of REM/Cadence Australia with its potential own destiny?

Mon 4 Mar 2019.

REM, now renamed KCNC tweeted this morning: Mon 4 Mar 2019: RNS-
"Acquisition of lithium assets in Australia in region with proven lithium mining and supportive mining infrastructure."
Link: https://twitter.com/CadenceMinerals/status/1102469273174323200

Highlights::
Acquisition of 3 prospects in Australia namely:
1)Picasso near Alliance Mineral Assets [ASX:AGX] h i g h profile BALD HILL in Western Australia [50-50% merger with delisted Tawana Resources Resources and raised $40m to develop the asset base. Bald Hill is producing a spod concentrate and has a JORC...resource of 26.5Mt @0.96%, probable reserve ore at 11.3Mt@1.01% Li20.

2)Litchfield project, near Darwin NT-See details.

3)Alcoota, NE of Alice Springs, NT- " "

Comment:
Background of REM: The Founder first invested in Sonora Lithium in Mexico via BCN. REM then went on to takeover BCN at 88.5p but it was rejected [details in recent posts]. REM had both direct and a JV to Sonora & BCN.

The 2nd investment was in EMH, Europe*s largest lithium project in Czech Republic, again a 20% stake [+-] in the Czech Republic.

Both of these investments are awaiting both a funding and funding to come+ other events as per RNS.

Today*s KDNC*s RNS [old name REM] relating to the 3 Australian lithium projects which they can take up to 100% in stages [see details in the RNS] means a NEW BEGINNING for REM in a TIER 1 JURISDICTION.

It appears that the Founder*s [D.Lenigas] signature ie to be as close as possible to a discovery/mine lives on? Eg in ARV, Armada is next to Havieron [GGP] in Western Australia wherein DL was Chairman ETC.

So, it appears to be a new beginning for REM ie the co may be able participate up to 100% [staged] in the 3 lithium Australian projects which is a STRATEGIC CHANGE and no longer dependent on others ?

This concludes the original beginning and what appears to be a new beginning for REM, now KDNC [Cadence Minerals]?

Mon 4 Mar 2019.
News
No need to post further under this thread. The history is complete and the start of KDNC [old name REM] in Australia as per RNS today.

I have just finished looking at some articles:

1)"Bacanora secures $150m financing from Red Kite for lithium project."-Financial Times, 5 July 2018
Cannacord said the co will still require a further $300m funding. Numis also said so and that "uncertainties remain."

2)VSA note [40pgs] dated 13.12.18 saying that the share price of BCN is down 76% year to date as "weak lithium sentiment has driven lithium equities lower globally & BCN*s performance compounded by the pulled financing."
The share price quoted in the VSA note was at 26p. Current BCN price on Fri, 1 Mar 2019 was 18.75p with a market cap of £25m. VSA T/P £.1.15 at the time.

3)Bacanora [BCN] RNS: Interim results 13 Feb 2019. Per Secker, CEO: "Lithium pricing ..under significant pressure in the calender year 2018 with concerns about a COOLING Chinese mkt and NEW SUPPLIES COMING ONLINE."

Secker goes on to say that the Sultanate of Oman,RK Mine, Hanwa, Cannacord & Citi are working on the funding [para phrased so please check the exact wording."

He also added: "The 2ND HALF of this year will not just see us look to FINALISING the FUNDING package for Sonora."

Holding RNS: 13.12.18-Blackrock of the USA reduced their holding from 9.96% to less than 5%.
Cadence [KDNC] have also reduced their holding via 2 BCN Holding RNS.

Comment:
The said VSA said note stated funding H1 2019. So the BCN Interim RNS is the more updated

As I said, I have NO view as I posted what was history.
It is obvious that the funding is subject to an ACTUAL AGREEMENT per the above Interim Results RNS as this is factual.

I have today posted the FT article online and the 40 page VSA note if anyone wants to have a look at the overview.

So, what I posted as a historical account is BACKED up by the FT article [Cannacord & Numis comments], VSA note and straight from the horse*s mouth ie Seckers.

As I said, it is widely known and the reason for the share price action of BCN which does reflect on KDNC since they hold a direct interest via BCN shares + Sonora JV.

Sun 3 Mar 2019.

We have now heard from almost everyone:
1)Jimb2 - Should be shipping by now [para phrased on REM]
2)Ivybush- big holder and ex-stockbroker [?] from his posts-Bought too early etc & BCN comments.
3)Addicknt-Ex financial services from his post- his mistake that mkt has a short term funding outlook ie loans for lithium.
4)Barksy1-Positive outlook as in life as per MrB.
5)Bannor-Hoping for Ford/VW to take Sonora/JV out for a "couple of billions."
6)Tomcat-14-"Impossible to say for sure now. It couldnt have been this bad for both co*s could it?" [REM]
7)Observer842-USGS Update 2019
8)News- Nothing to say at this time as analysis not completed [data starting to come in]. Only posting history for Mr T lebon on Twitter who bought at 1p area and attended the AGM/party [dont know about this as never attended nor joined any group/s]. So, the above are the comments of the various people. I believe Bannor said he was in at the 0.9p area although he was also in at 0.04p?

We may hear from the rest in the coming days. However absent will be pension pot, torchy from the very, very early days just after DL reversed in and re-named it REM [Rare Earth Minerals plc]. Oh, and Mr Isdeer.

Makes for interesting reading and for Mr T lebon re: answers and consensus of opinion [summary] from Twit who tweeted to me and another REM poster. I was just caught in something that I had no knowledge of ie AGM*s etc in London as I have never attended.

Sun, 3 Mar 2019
If there are any errors, please just correct as I can*t post all the full posts ie too long so it has been para-phrased and my perception of what they said.