Member Info for nomadicinvestor

Not surprised to see II's adding at these levels, below what they paid.

It's so clear that we are in one of those market issues where the stock isn't being valued where it should be. Toscana vote now only two weeks away, when that comes through it is likely news on either further acquisitions or Serenity (perhaps both but one will be excellent). I bought more at the lows, it's about topping up and waiting.

I dont see how people are annoyed at giving away Zinnwald. It attributed next to nothing in our sp and will require lots of fundraising. I'd much rather not be diluted by Zinnwald.

I have no doubt in my mind that Zinnwald is not strategic for Ganfeng (our strategic partner!). They have plenty lower cost hard rock plays in Australia. Zinnwald is much too small in comparison so why bother. This is a good deal as it focuses everyone on Sonora and that is 100% where the focus should be. Sonora can be as big as we want.

Still over 50% higher than two weeks ago, tomorrow will be interesting. Hopefully stablise the SP and go again. Consolidation is good.

It’s important to note that I3e management didn’t exactly fail, they picked up a good asset well priced during a mini turn down. Got financing, got appraisal and had I3e set to grow with a really sound strategy. Ultimately the oil just wasn’t as extensive as the surveys suggested - that’s oil in a nutshell. Until you drill you do not know. Majid and Graham aren’t the first and won’t be the last to fail at the drill bit. Granted the loan requirements pushed them to drill on the edge, but ultimately it wasn’t a commercial field regardless.

They’ve reassessed and have a new strategy and have so far executed it very well. Again, granted that previous shareholders with high averages are more or less wiped out. It’s a new investment case and if you back the strategy then there’s been more than enough chance to buy in. Personally I subscribed a chunk at 5p and topped up fairly large at 3.6p. Blue sky targets are unlikely now, but mid-term a solid 20-30p is very reasonable target.

Zinnwald is a decent asset in a good strategic location. Margins are very tight based on BCN's feasibility study and I've never been entirely impressed by Zinnwald and not surprised BCN have opted to focus on Sonora. The real difficulty Erris will face is getting financing to construct the mine itself. Exploration costs (£10/20m) will be found but hard rock is very expensive to mine and process. It is also in an expensive location for labour and business rates. Financial institutions are hesitant with small lithium companies and favour already producing assets. Things are turning and perhaps in a couple of years when looking for full Capex it will be available.

I suspect our new partners Ganfeng have enough hard rock exploration elsewhere (australia) and they did not see value in Zinnwald. Certainly the market didn't see value. Why bother with this distraction, that will have all the same issues and hurdles that Sonora has had, when in reality we are much much better focusing on Sonora and making it one of the worlds largest lithium producers. That's more than enough!

Hopefully Ferris do well with it and we'll get some value there, for BCN it's no longer part of the previous strategy to build mines close to production houses around the world. We're Mexican based with good access to markets.

Ganfeng have a habbit of bumping up production, don't be surprised to see the engineering report coming out with a stage 1 figure above the current 17.5k. My bet is 25k stage 1, 50k stage 2.

Hopefully some consolidation today, the last few weeks have been excellent. Need to let some traders move on.

Posted on Twitter I had a top up at 3.6p on Monday, had said I wouldn’t top up but it just seemed crazy low. Anything under the placing is low. Glad I did as it’s pulled my average down and that money is already in a nice profit. I’m well overweighted now I’m both BCN and i3E, but both look to show signs of recovery and a big few months ahead.

Short term can see I3e testing 5p and then hopefully Toscana vote is positive and then can build up to 10-12p (where I think current true value is without Serenity f/o).

12 wk high 42.70

I've done very well in Team17 also - they just keep progressing (indie games have a real cult following).

... also with lithium back in fashion and the world where we are, I would hope BCN go back to RK Finance and ask for some more debt. It's far better value for shareholders.

To be honest, a £70m mcap is fairly small for the resource and potential at Sonora (especially with Ganfeng as a partner). Lithium America's is valued at almost 2 billion. BCN will have engineering finalised Q4 and funding agreed Q1, with construction happening immediately after. Note most of the funding is already in place with 150m senior debt package and if Ganfeng can make the anticipated savings they promised then there is very little financing to find - Genfeng, Hanwa and M&G will follow through. All permits and licences are in place.

Looks like we are finally breaking out and long term downward from 2018. Up 17% now and plenty more to go. The higher this can get prior to funding being agreed the less dilution.

Had said to myself I wouldn't buy more here, but made another purchase this morning. 3.6p is way too undervalued on any metric, even if serenity farm out doesn't happen. Brining my average down and into over exposed territory here but I've been here before on shares. It is not unusual for the market to do something unusual - you have to take advantage. The board, while failing with Liberator, have always got deals done and that's the news we are waiting on now.

It's funny how a few 1 or 2k trades will take this down 3% in a day, yet five 500k (almost £100k) trades doesn't move the sp. Must

If we do farm out Serenity then there will be an instant valuation put on that asset. I’m assuming we will give up around 30-40% for a free carry through drilling. If the board are looking to return value to shareholders you can’t help but think selling Serenity after positive appraisal would be best.

It was a 'spike' actually to over 160p if I recall, but it also came of the back of some major investment by Next view Capital at 95p for 20% of BCN. It (somewhat illegally imo) didn't materialise even though it was signed and sealed.

I3e are now getting into insane territory. The placing was well backed at 5p, there was an acknowledgement by the board that 5p was massively underselling the company and the asset but it’s where the sp was. To find this down at 3.5p is madness really. What has to happen? An operational update must be key. Has anyone emailed the board?

Sonora and BCN have a very good chance of matching Lithium America’s valuation. Sonora is scalable with quick production turnaround and a massive deposit. We obviously are lagging way behind our actual valuation still because of the failed fundraising a couple years ago. Until it is through, the market won’t price in. Financing and Ganfeng’s confirmation that the process is sound will put us on the map. As a listed UK pure lithium play, BCN could easily find its way onto FTSE main and be valued in billions. It will be bought out before that though.

Been here a very very long time and finally seems we are on the cusp of a massive rerate. Interesting lithium America’s went from 1 up to 13 down to 3 and now at 20. It’s that Classic mining graph again, rising at construction phase.

Harel - what are you basing that on? (out of interest rather than sceptism).

It's a case of riding it out until a few things are confirmed. The operational update of canadian assets is key, we need to know how much oil is being produced and at what cost/ value. North sea has zero value in sp imo, any news on that front should see a major re-rate (note major now is something like 10-12p). The market is dragging this down, we need some good solid news that underpins the promises given on the Gain aquisition.