Member Info for tomcat-14

i think the timeframe for holdings rns’s has now well and truly passed... and only 2 cornerstone investors / significant shareholders came forward with notifiable holdings... the rest... must be short...

i quite liked the answer to the last question... bit of a cliffhanger wasn’t it... batteries mexico ford...

just noticed that our 52week high/low has now been corrected to the consolidation... just need those graphs to follow suit and get in line...
48.5p high 22mar19... 7.35p low 09oct19... today’s close 7.75p 03dec19...

hanwa had conditional pre-emptive rights to maintain their current % holdings... and a conditional seat on the board... i’m not aware there were and conditions attached to their option to increase their holdings to 19.9%... or that the option would lapse... most likely the option is attached to the offtake agreement... as long as the offtake remains in place... they have the option...

there’s only really 3working weeks left in 2019... finishing on 20th december... back after the hols 6th january... with christmas and new year’s day on wednesday... the last week and a bit of the year are pretty much disrupted...

mitigating then managing the risks...

my understanding is that kdnc/indosino are initially focusing on the reinstatement of the railway concessions and finalising negotiations with the secured bank creditors... which triggers the 1st stage investment...
on the completion of these two remaining preconditions $2.5 million (already deposited by cadence as part of the investment agreement with indosino) will be released from the judicial account to pay historic employee and small trade creditors... these conditions being fulfilled pba will own 99.9% of the amapá project... and at that point kdnc will own 20% of pba...

yep... looks quite promising... amapa start shipping the ore stockpiles by christmas... whilst kdnc/indosino secure all operational and environmental licenses... expected in the first or second quarter of 2020... a very interesting few months ahead of us...

i do like simple math... :)

out of interest... what exactly do you guys think is currently preventing ‘amapa’ from commencing shipments from the ore stockpiles by end of dec19... under the protection status of the jrp... approved on the 29 august 2019...
https://www.lse.co.uk/rns/KDNC/cadence-minerals-plc-approval-of-judicial-restructuring-plan-amapa-omqcte36gtcervm.html ...

thanks ob... i was looking at it from a slightly different angle... based on %’s of the main equity fund raise now secured...
i think i’ve got it to 90%...
leaving bcn now looking for new investors in the market for about 10% of the total fund raise... which could just as easily disappear if ganfeng achieve the necessary value engineering savings to offset that shortfall...

ganfeng (29.99% - 25.83%) + 29.99% = 34.15%...
hanwa (19.9% - 5.53%) + 19.9% = 34.27%...
m&g (19.9% - 19.9%) + 19.9% = 19.9%...
total 88.32%... rounded up with the €8m set aside for retail pi’s (1.68%)... 90%...

looks like capital have gone... last seen... https://polaris.brighterir.com/public/bacanora_lithium/news/rns/story/x8jq9ew/export ...

this one... https://twitter.com/bacanoral/status/1200013506252333056?s=21 ...

nice new updated presentation...
https://www.bacanoralithium.com/cms/wp-content/uploads/2019/11/BCN-Presentation-Q4-27.11.19-FINAL.pdf ...

price: 31.75... is that the breakout you were looking for wolfi...

just 4 years later and you can pick these up for a song... lucky barstewards...

do you remember that sequence of events mrj...
bcn/rem sign up to a supply agreement with tesla at the end august 2015... https://polaris.brighterir.com/public/bacanora_lithium/news/rns/story/ryq5vkw/export ...
then m&g buy in for 8.69% of bcn at 77p mid november... https://polaris.brighterir.com/public/bacanora_lithium/news/rns/story/w9del4x/export ...

i get ganfeng at 25.83%... and hanwa now at 5.53%... currently... igneous/d&a and/or capital might want to follow m&g’s lead to establish their position... this side of the agm... every vote counts...

hence why my post began with...
‘assuming this is where they want to be...
ganfeng 29.99%...
hanwa 19.9%...
m&g 19.9%... ’
i think it would be foolish to assume otherwise...

you asked... ‘tc... i'm not sure i follow your logic... how has 70% of the equity funding been secured?’...

if they each held those %’s now... which only m&g does... then when equity funding is raised... say $100m... to retain those % holdings after the equity fund raise... they would each need to provide...
ganfeng $29.99m...
hanwa $19.9m...
m&g $19.9m...
total $70m funding to the project... which is 70% of the $100m raised...
that’s the easy part of the math...
ganfeng and hanwa don’t now currently hold 29.99% / 19.9%... and will need to recover their % reduced by today’s placing too... which i’ll leave to ob to perform that bit... ;)

read the post...
‘assuming this is where they want to be...
ganfeng 29.99%...
hanwa 19.9%...
m&g 19.9%... ’