Member Info for observer842

Hello @news. Trust me, @Dallas is one of the good guys who is only trying to help out with everybody's understanding of the history of REM and KDNC. I'm certain he means well. He's got a very good memory, and has helped me on many an occasion!

Interestingly the AIM admission document I shared with you states how much money we had to spend to acquire the JV's.

Page 242 onwards:
https://www.bacanoralithium.com/pdfs/Companys-AIM-admission-document.pdf

Thanks for sharing this 45 minute podcast @Fingers. It's an essential listen IMHO:

"Lithium and the Global Battery Arms Race with Simon Moores" (24 MARCH 2021)
https://hcinsider.global/lithium-and-the-global-battery-arms-race/
===[
Globally, we have begun the transformation to the lithium-ion Economy. Mega battery factories are growing exponentially. The problem is lithium supply. Mining is constrained by available ores and multiyear start up times. Chemical processing and cathode production is technically challenging, environmentally impactful, and concentrated in China. EV manufacturers are buying all the Lithium supply they can on decade-long contracts. Lithium demand is forecast to outstrip supply by double in 2040 – even with the most optimistic forecasts. What does this mean for producers, commodity traders, financiers, governments and OEMs? How can the world tackle the problem of lithium. Simon Moores, CEO of Benchmark Minerals, the foremost independent pricing agency for Lithium walks us through the lithium supply chain and its consequences.
]===

Also available at: https://www.youtube.com/watch?v=mbl9Px1S1e8

Hello @news. Since you seem interested in Sonora at the moment you might be interested in reading the 20 page document titled "3 Mar 2021 - Memorandum and Articles of Association" at:

"SONORA LITHIUM LTD"
https://find-and-update.company-information.service.gov.uk/company/11349694/filing-history

The only thing I can remember of note was that BCN and Ganfeng own different classes of shares in the company. @tomcat and I had a bit of a discussion on the reasons why. If I recall correctly it could be to enable the scenario where Ganfeng are willing to fund Sonora expansion plans in the absence of BCN being willing or able to. Just speculation of course!

Ob.

As I said @mmm, you do your own research, and you take your own gambles:

"On today's Vox Markets Podcast: Cadence Minerals Amapa Progres, Versarien Mask Update and Glen Goodman on Crypto" (10 Feb)
https://audioboom.com/posts/7796495-on-today-s-vox-markets-podcast-cadence-minerals-amapa-progres-versarien-mask-update-and-glen-go
===[
So hopefully [...] from once the movement of shipment of material starts [...] close or around that time we'll get the settlement agreement
]===

Hopefully!

Indeed @jimb2. LoL. Unlikely, but it's hard to emphasise just how monumental shipping the first load is to all involved, and especially if the deal with the banks concludes at the same time. I've done my research, I've weighed up the odds, and I'm now fully loaded. If I'm wrong, then fine, you learn from your mistakes. If I'm right, then $$$$ :-))))

Ob.

Hello @news. Some good posts from you today. I thought I'd better clarify that the 66.6% is only related to certain matters, in others I presume it will be the usual 50%:

Page 243 and 244 of the admission document:
https://www.bacanoralithium.com/pdfs/Companys-AIM-admission-document.pdf
===[
shareholder approval (from the holders of 2/3 of the issued shares) is required in certain circumstances including on the issue or grant of rights in shares, borrowing, granting security, sale or disposal of any of the REM JV1 Concessions;
]===

I also thought I'd clarify that the 8.8Mt LCE is the JORC Resource contained in the Mexilit concessions, and is where the 250 life of mine arises (8,800 / 35 = 251). The 50 years refers to the JORC defined Mineral Reserve of 1,666kt LCE (1,666 / 35 = 47.6)

As far as I am aware there has been no JORC resource or significant exploration in the Megalit areas (the large unshaded area on the presentation)

I hope you find the above information informative. For links, see my posts from last night.

Ob.

@EV_Bull. As I have noted previously the information at:

https://serveporto.com.br/atuacao/macapa-ap/

is dated - now demonstrably so. Perhaps they don't know it isn't being updated? Send them an email?

https://serveporto.com.br/contato/

Indeed @EV_Bull. And it would not be classed as insider trading as the information is in the public domain, just not widely published!

Casting my mind back to U's first ship, if I recall correctly we weren't told who it was for until after it had docked, which resulted in a frenzy of speculation and speculative buying leading up to the reveal, and the fallback afterwards... I wonder if we'll see similar price action this time round? Perhaps tomorrow? Assuming we don't get an RNS today or first thing tomorrow morning!? :-) If no RNS then I certainly wouldn't want to be out of this share over the weekend if the schedule to dock on Saturday remains unchanged! ;-)

I don't think so. Zhangzhou is a different location, to the south of China.

How does £1m sound if our share price hits a pound and you are brave enough not to have sold a penny until then?! LoL.

Regardless of whether we own the 20% or not at the time!

If I wanted the maiden voyage to go smoothly I'd pull out all the stops! It'll be a big deal for the local community and in the local press if this is it.

@tomcat (or @MLQ). Do you happen to know if U have ever sailed to Zhangzhou?

Thanks @mr.james, I did wonder that, but looking at all other dredging events for this port there is never any overlap. Perhaps this time is different. Or they've got the dredging dates wrong...

Interesting @tomcat! Either it's meant to be a secret; What I have is provisional; Or they simply don't know. I'm beginning to edge towards the first, but any are possible. Which also means I'm also edging towards staying quiet and encouraging everyone else to wipe their minds of anything they may or may not have heard. You ain't heard nothin' from me. ;-)

http://www.docasdesantana.com.br/index.php/operacional/programacao-de-navios

Interesting that they've got the dredging until the 1st, and that is also when OS leave. How is that possible? Maybe we are missing something...?

Indeed @Tradecraft. Fingers crossed for the big one! ;-)

I'm sure you know this, but I believe BCN refer to REM in their corporate presentation because they are referring to one of our 100% owned subsidiaries: "REM Mexico Limited". Page 53:

https://www.cadenceminerals.com/wp-content/uploads/2020/06/Cadence-Minerals-AR-2019-FINAL.pdf

Either that, or they don't want their shareholders looking KDNC up and buying here instead if they perceive there to be more upside in the event of expansion plans ;-)

Ob.

Page 243 and 244 of the admission document is what I was thinking of:

https://www.bacanoralithium.com/pdfs/Companys-AIM-admission-document.pdf
===[
shareholder approval (from the holders of 2/3 of the issued shares) is required in certain circumstances including on the issue or grant of rights in shares, borrowing, granting security, sale or disposal of any of the REM JV1 Concessions;
]===

May not be what you were after, but I had it in mind as I was wondering whether if REM and Ganfeng joined forces we could force a sale of BCN's 35%. Answer is probably no, but Ganfeng and BCN could probably force a sale of our 30% for the right price under drag-along and tag-along rights.

For what's it's worth I remember reading somewhere that majority is defined as 66.66% for this project. Meaning that REM and another can't gang up as that would only be 65% (30% +35%)