Member Info for roger65

You could well be right. I really hope you are as this 10% drop from where the sp was before the 'good' news (final approval) landed is desperate.

Do you mean the Annual Report is now not going ahead on Monday? Or has it already been pushed back?
Ganfeng are going to be licking their lips watching the SP dive. I can see a Chinese tiger pouncing soon...

I've bought £30k worth of shares this morning in differing amounts. All are in red showing as sells. AIM silly buggers as per usual

Strangerstill - hope you are right but how do you know for sure Ganfeng are taking up 50% of the Sonora project? Nothing has been announced...yet. I do think that's likely but it's pure conjecture atm isn't it?

If Zinnwald could offer shares holders some positives then why on earth doesn't Secker at least keep us informed about BCN's plans on that front? Come on PS, throw us some crumbs here....

I think several of us posters have written about Ganfeng funding 50% of the project cost on the assumption that they will take up the option of increasing their stake in Sonora Lithium Ltd from 22.5% to 50%, not because we've added the initial investment of 22.5% in Sonora to the 29.99% Ganfeng now own of BCN. There is a precedent for Ganfeng doing this with another Lithium Company so I don't think it's too crazy to think they'll do the same with BCN.

I agree Degsie, PS doesn't say how much is needed. He doesn't say much at all. And I share your frustration Bampster. He says as little as he can possibly get away with and is a poor communicator. He does not promote the Company by imbuing investors with any confidence. That interview was embarrassingly short and lacking in detail for what was supposedly such a major milestone in the Bacanora story. He comes across as positively uncomfortable when being interviewed and, whilst not exactly sounding insincere, manages not to say anything with any real conviction. What can be done about it? Alas, nout I suspect. Regrettably I bought in too heavily here and my average is considerably higher than where the s/p is now languishing. I'll just have to sit it out and hope that you, Degsie, are right about the production timeline of 2021 rather than 2026. I might not be here by 2026! I still believe that Lithium is soon going to be in huge demand for the EV market globally and that this venture will come good one day. It's just painful to watch someone struggle so badly and I have a good deal of sympathy for someone stuck in a position they are clearly not suited to. Ganfeng will soon find a way to move PS on if they feel he's holding things back and I really can see Ganfeng attempting a Takeover one day. And why not, with the s/p never realising anything like its potential, they would get it for a song if they wait for another 6 months and we're still hovering about in the mid 30's.

Right, I'm off for a walk as I'm even depressing myself!

Anyone else worried by the s/p coming straight back down to earth after yesterday's surge? Has that 20% increase just disappeared into the pockets of traders?

The path to getting this project funded is opaque to say the least. I confess it rather took me by surprise when PS said he'll have to come back to existing shareholders even just to get the construction phase done. I thought $420m was needed to get to production. If Ganfeng will now account for half of that sum - and can hopefully reduce it owing to their expertise in this field- and BCN already has $180m + $22m to draw down then surely the shortfall can't be that huge? Or can it? Feeling a bit nervous now having waited so long for this positive news only to see it have such negligible impact on confidence.

..NOT unusual....

continuing the automotive analogy, I do hope this car is one using a lithium battery....
I would also love to know where this car is kept because if there is £10k cash knocking about in the glove compartment I'm sorely tempted to break into it and make up for some of the losses I've endured on this wretched share.

Not a thing

..any extra on HL. Seems to be in lock down. Is that the MMs playing games and holding s/p for their buddies to get in once news from this conference gets out?

Oh dear! I wasn't expecting a massive take up on this news as it's been on the cards for a while but I did think we'd be a little closer to 50p which is where the s/p was when this deal with Ganfeng was first announced at the end of June. Hmmm bit disappointing. Now need to raid my patience piggy bank...again

ii's won't step in yet. They will wait until the dust after the dilution on Oct 18th has settled and, almost certainly, also await PS announcing the final finance arrangements before really jumping in. This is an encouraging sign this morning that things are moving forward, albeit slowly, but we've got just a couple more months to wait until everyone boards this particular (lithium-battery-run) train and we can then sit back and enjoy the ride.

What time is the presentation?

I think PS was already on plan c when getting into bed with Ganfeng...
The s/p is currently so undervalued I really don't think Ganfeng would waste valuable time waiting for it to go down by just another few p. They could strike right now and still have a magnificent bargain. Sadly I just think it's Chinese bureaucracy allowing things down atm and, as I said in a preview post, the trickiest approval was going to be this final one ie where funds actually leave China.
Love the grass - milk proverb. I'm chewing this one over as I write...

Typo - 'slowing things down...'

I think PS was already on plan c when getting into bed with Ganfeng...
The s/p is currently so undervalued I really don't think Ganfeng would waste valuable time waiting for it to go down by just another few p. They could strike right now and still have a magnificent bargain. Sadly I just think it's Chinese bureaucracy allowing things down atm and, as I said in a preview post, the trickiest approval was going to be this final one ie where funds actually leave China.
Love the grass - milk proverb. I'm chewing this one over as I write...

Isn't this just their monthly earnings report? I confess I'm not able to analyse documents like this but I don't think I saw anything relevant to BCN, more's the pity. Would be delighted if someone has a different and more positive spin on this..
As several have already said, patience required here. Chinese are now in control of how and when this venture moves forward and there's nothing PS can do about it.