I stand corrected, had noted down wrong at the time. Majid does indeed say "we want to be in a position declare dividend in January and pay shortly thereafter". Which is disappointing as you would hope they would learn from past mistakes and not over promise/ under deliver. He should have just said Q1. Stating exact timings is never good. Also saying "we want" to the market is never useful, it's not about when you want to, it is about when you can.
I’ve posted many times that today is not a deadline. Majid stated “end of January or shortly there after”.
If Ganfeng had any interest they would not of let BCN sell it off. Secker has already said BCN won't participate in any funding for Zinnwald so expects us to own a much lower percent in future. BCN is Sonora, as simple as that.
Malik - there is no way Ganfeng have any interest in Zinnwald.
Bluegrass - my opinion is Zinnwald holds no strategic place for Gangeng or the lithium world at large. Yes, it can have a small role in European lithium supply but the reality is most batteries are made in China. Ganfeng and others have an abundance of hard rock deposits in Australasia that are up and running, with proven infrastructure and can produce at low cost (low in terms of hard rock of course, which is much higher than clay or brine). Zinnwald is not that large or strategic and served only as a distraction. Smallish hard rock plays are not massively interesting. Was the correct decision to off load and focus on making Sonora one of the largest mines in the world. I'd much rather additional funding/ capex was put towards increasing Sonora to 50 or 75k tonne rather than seeing it go to make Zinnwald which is only planned at 7k tonne carbonate equivalent.
In short, Zinnwald isn't required for Ganfeng's strategy and it suits BCN.
Deano1978 - the orphan phase is what a typical miner goes through when reality sets in after the initial hype and interest of a discovery. Different feasibility studies through to licensing and financing takes time (usually years) and the sp usually lags. There's also a large amount of cost incurred which creates dilution. I've learned from this in the past. Haven't always practiced what I preach as stayed in BCN through this phase even when I said I wouldn't. With HE1 I have a simple strategy which is accumulate now, hold for discovery and then sell. Probably after or just before the last drill, depending on the first two. Bag the profit and move on.
Agree with sentiment on board. I’ll be here for the drilling and deposit confirmation then be out (At hopefully a much higher sp). I believe if drilling successful and company does decent pr, we could see 20-25p. Not wanting to hang around for the orphan phase, seen too many mining shares drag through it.
It’s difficult to understand how over the last two trading days there has been £1m in buys reported after hours yet the sp is the same. That’s a hefty order getting filled by no ordinary investor.
Over £550k trades going through from yesterday.
The divi announcement through RNS channels only states in Q1 and through the presentations Majid said "hope to be announced in Jan, or shortly thereafter". So w/c 8th Feb is my target, after that I will consider the news late.
Posted this over on KDNC board, thought I would copy here to see if anyone else can shed light (similar to a question I raised last week)...
I read through BCN's admission document last night (how fun) and the detail is there for the joint venture agreement or the "REM agreement 1 and REM agreement 2". It does appear there is a clause, that if Mexalit (BCN 70% KDNC 30%) makes a call for money from shareholders and neither BCN or KDNC pay their way, they will forfeit an appropriate amount of ownership. Perhaps BCN is hoping KDNC do not pay their full way. From what I understand, nothing is being spoken of with regarding the current funding but we know the site and license for Stage 1 is in 100% BCN and Ganfeng's territory. So will it be the Stage 2 construction budget KDNC will need to contribute towards? I would like to get answers from the BCN or KDNC board on the exact nature of the relationship. It has a very material effect to both companies. It can not simply be KDNC have a free carry through construction but pay a production fee (as suggested on these boards).
Does anyone know best place to contact? I've sent emails to BCN before without response and asking for fairly unassuming information.
I read through BCN's admission document last night (how fun) and the detail is there for the joint venture agreement or the "REM agreement 1 and REM agreement 2". It does appear there is a clause, that if Mexalit (BCN 70% KDNC 30%) makes a call for money from shareholders and neither BCN or KDNC pay their way, they will forfeit an appropriate amount of ownership based on how little is paid. Perhaps BCN is hoping KDNC do not pay their full way. From what I understand, nothing is being spoken of with regarding the current funding but we know the site and license for Stage 1 is in 100% BCN and Ganfeng's territory. So will it be the Stage 2 construction budget KDNC will need to contribute towards? I would like to get answers from the BCN or KDNC board on the exact nature of the relationship. It has a very material effect to both companies.
Not wanting to complain as we have a a slow steady rise from October and quite a sharp rise over the last two weeks. BUT I do find intraday pricing here odd, almost without fail it peaks midday before cooling off in the afternoon. It means each morning is started by recovering the previous days lost gains. Again, sp is heading in the right direction so no real issue (other than I think we should be above 10p now) but consistent repeating patterns in pricing always catch my eye. It’s been happening for months here.
For anyone wondering if BCN will be valued at a billion pound anytime, you just have to look at Ganfeng. They have a mcap of 150 billion and they see Sonora as a world class asset that has a key strategic role in their company. I’m sure that will see Sonora account for more than 1% of their value.
Thanks for the reply Bannor, that sort of arrangement would make sense. I agree, it must be in everyone's interest to agree a buyout of the outstanding 30%. No doubt happen prior to mining that licence in stage 02.
I'm a BCN holder (was once in REM) and trying to figure out KDNC's current relationship to Sonora. I know the history but I don't see how KDNC can retain their full % without contributing to the cost of the Stage 01 mine construction? Surely Peter Secker didn't sign away a free carry on 30%. As far as I am aware KDNC are not part of the current ongoing funding mix. Is it only when Mexilit is developed/mined that KDNC will have to contribute? I feel like neither board is being transparent on the relationship.
I would hope i3e keep 50% of Serenity and a free carry on the first drilling program. Probably more likely to receive a small sum upfront (£10m?), keep 30% and a free carry for 3 - 4 wells. Upfront money could be used very well in Canada so perhaps a favourable option for the board.
I said the exact same thing before Christmas and it shot up on the same day!
Noticed the sp has hit the 65p mark six times in the last week. Historically that was the floor and interesting it will take a little push to break through.
If the company is about to pay out a substantial sum in form of a dividend, it is only fair the staff receive the shares they were promised as part of the deal. There is no additional shares or dilutionby this. Totally normal procedure and positive sign things are being tied up at company level.