Member Info for roger65

Tks Wolfi for the super quick response. Ever considered working for BCN in their PR dept?

A brief update from PS to explain the delay wouldn't go amiss... Whilst it's good to see there is a level of confidence holding up the sp I don't think it would be wise for PS to take that for granted for very much longer without news...

Tks D1
BCN really need to get Ganfeng deal over the line then in order to put themselves in a position to become sole owners of Zwald. Hope this is the week things finally start to fall into place.

Anyone know what is happening on this front? Is any progress with Zinnwald dependent on BCN first finalising the deal with Ganfeng? Everything has gone so quiet from BCN that I don't feel particularly confident of what to expect or when. Final approval is pretty much a month overdue now, although I realise some of that was down to the Chinese holiday.
Certainly a relief to see a small rally in the sp towards the end of last week but it would be great to see it back up to nearer 45 by the time news (eventually) arrives and then spring on to 50+

Thank you Degsie. Reassuring to know it will get over the line, eventually.

Incredibly low volume again today. The pro's are clearly not expecting news any time soon. Darn it!

Same here. Bought £5k's worth and it's happily sitting in the list of trades - in RED! Get it sorted AIM please, this is misleading investors.

Oh dear, and how wrong I was! Apologies all for totally misleading post. Tks Derbyone.

Suspect no news until end of October now (no Ganfeng Board Meeting scheduled before then) but would be delighted to be wrong and have someone tell me it'll be sooner.

Imho the reason the s/p isn't on the rise is because we know once this final approval from SAFE arrives there will be a funding gap on the BCN side to get the project fully up and running. There are several ways this shortfall could be reduced, possibly even closed altogether, but BCN have chosen not to publicise their plans. Unfortunately PS mentioned the dreaded words "equity raise" in his latest interview and I guess few will find that an enticing prospect, especially if they're looking for quick gains.
Personally, I'm in for the long haul as the EV market is on the verge of a global explosion and it needs an awful lot of exactly what Bacanora and Ganfeng can deliver.

In Peter Secker's most recent interview (about 4weeks ago?) I think he said the final approval was expected in the next 'couple of weeks'. End of Oct means roughly 9 weeks. As someone else has remarked previously on this bb I wish he wouldn't announce wildly optimistic timelines that get us all excited only to cause subsequent disappointment and doubt. As someone else also pointed though, PS and BCN will have no influence whatsoever over Chinese authorities to speed things up. Just gotta sit tight. At least we now know from experience that if we endure another s/p dip, such as the one we saw in August, that it will all end up ok in the long run.
Deep breath... and... relax.

Totally agree T-jon. Timetable is exactly as stated so no cause for alarm. Patience required for just one more week.
As you rightly point out, this whole venture looks so positive that even if Ganfeng decided to withdraw another major player would jump at the chance to get involved (Southern Copper?) and probably at more advantageous rates to current bcn holders. Zinnwald still to be priced in, price of lithium highly likely to rise as demand soars due to EV market explosion, Sonora production now looking likely to exceed initial expectations, possibly double!! It's all good. If there is one fly in the ointment then it's just the possible shortfall in funding on the bcn side once the Ganfeng deal clears the final hurdle but even on this I feel confident. There are several ways to reduce the amount required and it can be done without the need for an equity raise. One week to go as the next Ganfeng Board Meeting is most likely going to be next Friday. In the mean time enjoy the Rugby World Cup....

I always thought this final approval might be the hardest/slowest to get over the line. It's the one that finally allows Ganfeng to send funds out of China and so will be subject to particular scrutiny. However, once it arrives - and I'm confident it will - Ganfeng will then have their BM (Wolfi: any idea when that might be pls?) and at which the matter of exercising their option to increase their stake in Sonora Lithium Ltd to 50% might well be pushed rather higher up on the agenda.

Patience and good luck to all for the short term gain here but keep in mind the long term will offer far more upturn than anything likely over the next week or so.

I agree. Crazy to sell now. I so nearly lost patience recently but had some (mostly) helpful and positive advice from various posters on this BB. After reflection I held firm and didn't sell. (I can afford to hold).
I'm hoping final approval arrives on Wednesday and that shortly after this Ganfeng will tell the world they are increasing their stake in sll to 50% & thus the amount they put into overall funding for the project. Hopefully that will mean their is no funding shortfall from BCN's side and PS will release a statement along the lines of 'There will be no need for an equity raise'. Even better is that we still have upturn from the Zinwald spin-off to look forward to. All looking good. Very good.

Apologies all for hitting the panic button yesterday. The last thing I want is to be responsible for harming anyone's interests (or wealth) here.

Thank you Derbyone for your input.

I don't and can't sell now because I'll lose too much. My average is well above where we are now. I hope tomorrow there will finally be a bit of a surge and then yes, I will sell.

No, seriously! I'm new to this. I'm a retired teacher and have a pension pot which I am terrified I'm about to lose through being really rather foolish and naive. I wanted/still want to believe all the positive things that I read on these boards - that's what has mostly drawn my attention to BCN in the first place.

I'm just scared and want to be reassured that I'm wrong. Very wrong.

That should have read 'no one is jumping back in'

Yes, but where have all those share holders gone? Even At this low level on one is jumping back in. Plus, on the matter of production things are also going backwards. It was only in May PS said in an interview production poss by the end of 2021. Ganfeng came on board and everyone was saying hooray, they're going to speed things up. Things definitely looking up. The next major Presentation I saw mentioned production by 2022/2023!

I'm in heavily here so am hoping and praying I am wrong on all fronts. Spectacularly so. AIM definitely not for me after this.

This won't get anywhere near £1. Period
1) Final Chinese approval needed. Yes, it probably will arrive soon but.... Ganfeng want the s/p back down to 25p so they can exercise their option to increase their stake in the holding company to 50% for, well, let's face it, peanuts.
2) There is still a funding gap and we have been given no clue from BCN as to how they intend to sort it out. Usual lack of communication and vision making investors of any description wary.
3) Still the legal issue of the late Chairman's estate making claim on a small but significant % of all profits ad infinitum. This issue has been pretty much swept under the carpet by BCN.
4) BCN is on AIM and no serious ii is going to touch this with the kind of money that can push s/p up to £1 until it switches to a more reliable platform. The numbers and outlook for BCN needed in order for the switch to even be considered are light years away.

I'm feeling glum today and I agree with you buzzly4 that confidence is low to say the least just now.