Member Info for tomcat-14

stated a few times from around 12:20... https://youtu.be/6HWR9olah78 ...

typo if you ask me... 15% discount on 15day vwap...

pre-emption rights on the 29.99% bcn holdings... so they will need to stand their 29.99% corner... to maintain their 29.99% holdings... for whatever part of the $25m + $65m gets placed to hanwa + sgrf... what’s the minimum funding sp ob...

gfl will have 22.5% of the project costs direct... and 29.99% of the 78.5% indirect project costs... that equates to 45% of the project funding... when they exercise the 27.5% option... that goes up to 65%... 50% direct... and 29.99% of the 50% indirect... if the deal with gfl closes... the project is effectively fully funded...
$420m - $150m - $25m - $65m = $180m (43%)... which is gfl’s 45% share of the funding...

i’m also considering the option that they may be farming in the operations to do both... the toll-mining... and toll-treatment... then sell the finished product as lico to the offtakers... as per the offtake agreements...

and keeping on your theme that the...
‘agreement beneficial/tolerable to all parties involved, including mexican tax payers’... you could step out a little further... with the previous post being the lithium plant owner... and the plant operator being...

operador lithium bacanora s.a de cv***...
***Held indirectly though Mineramex Limited and Bacanora Minerals Ltd...

name of subsidiary...
operador lithium bacanora s.a de cv***...
country of incorporation...
mexico...
shareholding on 31dec18...
100%...
nature of business...
mexican service organisation...

or maybe just the lithium processing side of the project...

bacanora chemco s.a de c.v.*...
*held indirectly through sonora lithium ltd...
https://beta.lse.co.uk/rns/BCN/bacanora-lithium-plc-interim-results-k8bao8susd9ad6i.html ...

name of subsidiary...
bacanora chemco s.a de c.v.*...
country of incorporation...
mexico...
shareholding on 31dec18...
100%...
nature of business...
lithium processing...

at 25p though... it’s a steal... be crazy for them not to snatch secker’s hand off...

i think i agree with that ob... once bitten hey... i’m also assuming that most of the ambiguity in secker’s pitch to the market... is due to restrictions imposed by ganfeng... on what he can and can’t say about the details of the deal... not too dissimilar to wesfarmers restriction on kidman... hence the need to read between the lines a bit...
no shop, no talk...
https://thewest.com.au/business/mining/wesfarmers-776m-kidman-resources-bid-to-go-to-vote-ng-b881208319z ...

add the £14.4m ganfeng placing for 57.6m shares... £349m / 192m shares... would re-rate the sp to an all time high of around £1.82... to be honest addicknt... i wouldn’t want to be short on this between now and the end of june...

total resource attributable to bcn... 7,341kt lce contained... less the 162kt sold to ganfeng @£46.64/t... would value bcn at £334.8m... for sonora alone...

dfs table 16.2.2 mine production schedule... % ore from la ventana... 88.05%...

giving a confirmed valuation of sonora @ £46.64/t contained lico...
(£7,563,649 / 818,631t x 88.05% x 22.5%)...

cheap at half the price...

you can’t compare this deal with the nextview fiasco... completely different situation... and this is ganfeng... the top tier global lithium producer... they clearly want into sonora... just as much as bcn want them in... agree that ganfeng are getting a fantastic deal... so i really can’t see them doing a nextview myself... the biggest risk to the deal imo... is a counter offer that would push the price higher than ganfeng would be willing to go...
quote... ‘we look forward to working closely with the bacanora team to realise sonora's potential and bring into production the world's first lithium clay project’... :-)

if they close this deal... won’t ganfeng be funding either 45% or 65% of the sonora project... depending on whether they take up their 50% jv option or not...

everyone... ??

bacanora lithium will be hosting a shareholder conference call on tuesday 21 may 2019 at 11am... the company plans to make available a recording of the call on its website shortly after... ???

as stated in the rns... the £14,400,091 capital raised via the private placement and the £7,563,649 via the project level investment would be used for the continued development and commercialisation of the sonora project...

no fuku... i trust my research...

gfl to acquire 22.5% of the lil $1.253bn npv8 project... $0.282bn npv8 for a cash payment of £7,563,649... is that what has upset the punters here...

msb as the direct asset owner... that ganfeng will want 22.5%/50% direct ownership of the asset at project level... once they take the 50% option... they also take control of the project... i still think msb shares in issue does or will mirror bcn’s shares in issue...