Member Info for nomadicinvestor

BCN and Secker are so under the radar. Can’t believe the macro economy factors that are driving ev and lithium, yet the company hardly does pr. Been next to no press since getting financing over the line. Really don’t understand. Might take the market a while to get excited, I guess money is a couple years away Yet and on aim there’s elsewhere to invest.

I wonder if BCN will move onto the main market? That was the plan when financing was agreed.

The sp swings on aim can cancel out any dividend quite easily. Odier have sold out at almost 100% profit after 6 months, with more or less a free carry on their remaining 60% of investment. That's great returns in the bag and they'll happily sit the rest to mature and return dividends. As with Slater, it was always going to happen.

What I find positive is the market easily absorbed 3% of the company being sold with only a minor set back to sp.

I’m not one that minds if things slip a week or two. However, I really hope, given the market sentiment towards the board, that they deliver on a March divi announcement.

Good to consolidate recent gains above the 10p mark.

Slater reduced their holding by around 1% - fully expected as that's 100% return on that money. As we rise the investors with large holdings will reduce risk profile and realise profits.

Agreed. There was a quadruple bottom at 40p, think it’s safe that it held and will progress from here. No rush for me, will be holding until production or takeover (not by Ganfeng).

The board will be waiting until transformational news before doing any interviews. By that, I mean maiden dividend. If the farm out is agreed then I’d expect another. I3e have a habit in the past of stacking news flow, can’t help but think they are doing similar here. Divi announced within two weeks, sp is doing well, we have been reassured of numbers - I’m happy to sit back and enjoy the steady rise.

Doubt anyone would take us over as the Canadian assets are too separate from North Sea. Could we’ll see an offer for Serenity if drill successful. Probably best thing for shareholders.

$460m plus another 75 to $125m for 20k bopd production in the North Sea (on mature fields passed the point of peak production). That is net from 20% and 30% interest in the two fields. If I3e can manage a free carry on 30% interest then we will do well if the drill bit is kind.

Apologies if I missed it, but has WH Ireland issued their updated broker note? The business model hasn't changed that much, would of expected it to be them just plugging the new metrics into their spreadsheet.

Looks like it. A nice £150k buy from Friday popped up at close. Placing is now done, it should only be upwards momentum from now on.

Likely a bit of both like most people, can't imagine he would of sold out completely. My saving grace at the time was buying a house in 2018 with i3e at 110p, meant I sold half my holding then from a 32p average. So in theory I've "made money" from i3e but still feels like a loss given where we were. Onward and upwards though. Good start today.

As others have said, this is really great news as it confirms Ganfeng are paying their 50% and all approved. Really quite an important step and while it was expected, nothing was guaranteed.

Since the admission of the enlarged capital on 30th October, the sp has almost doubled from 4p to 7.7p. I think it is fair to suggest we could see this trend line continue and have a sp around 15p in four months.

Just read rns again and Noel is of course Gas. But my point is the same, let’s try and target oil for drill work.

Tonyn - exactly my thoughts re PTAL. I3e shareholders need to understand the liquid / gas proportion here. Hopefully the board are working to bring on more oil in Noel like wells. Will make it a much more attractive investment. Although gas has its benefits as less prone to to collapsing.

With £20m net, got to look at £100m mcap or 14.5p. Serenity news probably not in near future if other parties are re-joining discussions. Once it lands, could see another 5p added. Will all depend on the drill bit then. Looking very positive in 2021.

£20m net income predicted for 2021 (mirabaud expected £12m fcf). Current mcap is only £40m. Canadian assets typically valued at 5 times net income (250% immediate upside).

Surprised not seen a tick up in sp but guess some might be waiting until the t’s are crossed and Ganfeng have approval from the Chinese government. Usually a couple months.

I do think the board have undersold existing shareholders. They’ve taken out the potential multiples but still think BCN is a solid, if not really exciting investment. I’m hopeful the board take us over on to the main market as was planned. Not heard much about it though.

I thought the negotiations were "with the lawyers"? Would suggest reasonably advanced in Dec. Cost and timing are definitely big terms to agree!

Any farm out will be positive, agree that the project happening is the most important thing. We are not in a great position given our mcap and the results at Liberator. We need this development more than the partner will. However, rise in oil should provide a solid backdrop to get the deal over the line.

Have a feeling the ducks are being lined up and once news starts to drop then i3e will be in full swing.

I am reading a lot of references to Sonora's NPV lately and questions on the value/ sp that can be expected over the coming years. One thing to consider is that NPV is really only used to determine value of un-built projects and you would typically expect a mine to be valued at NPV by construction completing.

In Sonora's case, the NPV does not represent real value as the Feasibility Study only included an initial 19 years project mine life. We all know Sonora has the capacity for hundreds of years. In comparison Lithium America's Thacker Pass has a NPV of three times Sonora, with a little under double the capacity (60k vs 35k at Sonora). Lithium America's used an initial 46 year life of mine. My point being, Sonora's NPV in reality could easily double simply by adjusting the Feasibility Study's initial life of mine. Don't get too bogged down with 50% of $1.25b is only £450m.