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Positive rns but nothing new contained re financing package, a bit of an anticlimax really IMO. Are they going to do a Sirius and start construction with the view to gathering more finance as it progresses or are they going to wait till all finance in place possibly missing the boom in 2022. It is not clear yet. As I said previously one hurdle at a time and then think about how to jump the next.
In time the sp will recover but it’s going to be a long road, probably time to load up and then forget for 6 to 9 months whilst it creeps up, or as I am doing just hold .
would not want to be out this over the weekend I have a feeling news is on its way on Monday. Same with Vast and Prem although they have missed a self announced signing this week it’s looking likely to be on Monday, the usual lemmings are selling presenting great buying opps on all 3 shares.
My first post on this board it seems like the delay has presented a great buying opportunity. Not got that many but when the rns lands it will be a sipp changer that’s for certain have just topped up again.
Wolfi thanks for the post however it seems like everybody and their auntie are sitting on some world beating amount of lithium as are BCN, but as we have learnt to our chagrin turning this resource into useable lithium is long and hard road. BCN are in a good place to be in production for 2020/21 but through circumstances that they seem incapable of controlling cannot get that production rolling. They seem to sit around waiting for one hurdle to be cleared before they think how are we going to get over the next hurdle. This is not good management. They should have had the outstanding finance sorted ready for the final Ganfeng sign off announced the two together and bingo off we go. Maybe I have made it look too simplistic and things are a lot harder out there. They may have it wrapped up and will release details next week who knows but we should know, information is key here meanwhile the sp keeps on drifting back to the median 25p.
On the hydrogen cell stuff I raised many thanks to all our learned friends who have posted on this it has been very educational to say the least.
I suggest you google hydrogen fuel cell cars and see what you come up with. Already 3 hfc cars in production and nearly all manufacturers looking at it as an option so autocar say anyway. Was not saying it will be immediate but the time will come when the greenies will examine both options and plum for hydrogen cell as the more environmentally friendly according to the evidence I have read, maybe it’s all wrong and you are right but hey ho I will not be around to see it.
Taly maybe semantics but of course it is potentially worth more but is it as it stands actually worth more NO not until the financing of construction is sorted. If they do not hurry up lithium could be surpassed by hydrogen cells and their quicker re-fuel time. Otherwise journeys of over 200 miles say become nigh impossible with lithium cell technology as it stands maybe just about tolerable in small countries such as uk but out of the question in big countries without overnight stays.
My only saving grace this week is smallish investments in Vast and Prem which allegedly are ready to blow this week, sorry to seem ramping but have followed tips from other posters on here to my advantage obviously DYOR.
Will wait till Monday on BCN see what they have to say, should be a lot and hopefully good news.
Spot on re clarity because currently lack of is driving the market in BCN.
However mr c I disagree with us not benefitting we will benefit but it seems that the benefit is now 2 years down the line unless there is some shock Zinnwald development.
What we have here is a great resource plus an experienced partner on board. OK the sp will drip down due to a lack of clarity on how the finance is going to be raised. However one thing is certain this project will get built and start generating profits later in 2020 possibly early 2021. We will have to either hold till then to get something out of this or take the hit and get out pronto. I personally am for holding but others may need to get out and use their money to generate quicker income.
The old adage buy on the rumour sell on the news has never been truer and has taught me a valuable lesson in investing.
The laid back approach of PS can be annoying but he has got us so far in this and Zinnwald so maybe the criticism of him is a bit unfair but it seems par for the course on most BBs .
What’s happening is it
1. Mm shakedown
2. Lack of funding certainty.
3. Dilution after 18th
4. Profit takers reducing the price
Or what ?
Thank goodness for Vast & Prem up 10% & 50% also on AIM otherwise could have been hari - kari time with BCN. Skimmed a little bit at 41p but will now wait for longeR term prospects which will come to those who are patient.
Quite a subdued response this morning to THE big news. I would have thought there would be more posts than 6 at 7.20 am maybe we are all too fatigued with the prolonged wait. Anyway onwards and upwards two more milestones to pass before this really is big. Completion of funding and then Zinnwald whatever we are doing with that. VAST & PREM both ready to blow too.
Let’s see 50p here today and I’ll be satisfied as a starting point. Mrs T-J will give me some peace now at last.
Cannot see any relevance here to BCN. My view expressed on 26th Sept still holds that Ganfeng are allowing the sp to walk down so that they can purchase the remainder of their 50% share at as low a price as possible. Cannot blame them would do the same myself. Also I would think they are doing side deals with automobile manufacturers in Mexico (of which there are plenty) to supply them direct rather than shipping back to China. Somebody must be building a battery factory in Mexico.
All this does not detract from this being a good thing and worth having a bit more patience awaiting the definite positive outcome. Imagine the loss of face and credibility for Ganfeng if this falls unless they can come up with a really credible reason why it did. Who would deal with them again.
Just a pity we did not have a plan b to force their hand.
Maybe Ganfeng are waiting to have the sp walk down whilst they release news of the 3rd acceptance c/w the deal to up their stake to 50% all done at 30 odd pence rather than an anticipated 50 to 60 plus taking one stage at a time.
Only thinking. Other opinions really welcome.
I agree mr c but imo this is a whopper deal for Ganfeng and if for whatever reason it fell through, knowing what we know now, others would jump straight in and snap it up probably at a better deal for BCN.
Ganfeng have a chance to buy in at 25p a share (25%) and for the other 25% possibly 50p a share as opposed to Hanwa 85p and us PIs. Of course their expertise and money would be good and they stand to make a lot of money whilst they will pay market rate for the product they will in effect be getting a 25% or even 50% discount over a 30 year mine life that’s a lot of beans as payback for their initial investment.
So in conclusion why wouldn’t they seal the deal, I am just surprised they have not snapped both BCNs arms off but maybe there is a touch of what they call inscrutability going on.
Correct island it is coming, as per my previous post we may have to wait until after the next Ganfeng board meeting which can be assumed to be next week. It was said that the final decision would be after the meeting which we all assumed was the one on the 28th last month. I think also the Sirius affair has given some people the jitters.
Maybe some want the quick bucks over at hur (interim tomorrow) or pmo (sale of Zama anytime soon) who knows.
Patience needed for a good result here and there will not be any already priced in stories from the market that’s for sure.
Still waiting for the news. Seems like an ideal opportunity to load up more bcn especially if these diddy sells bring the sp down sub 40. Will wait and see although timing is crucial, get it right just before deal announcement and it’s happy days.
My original idea was to cash out on the deal rise but there are so many additional catalysts on the horizon i.e. construction funding, increase to 35000 TPA, 50% buy in from Ganfeng, Zinwald et al. This share will rise slowly but surely to a doublebagger if not treble within the next 12 months. Certainly one for the portfolio. If you want high risk volatility in and out get over to the oil shares.
Maybe we have to wait until after this months Ganfeng board meeting it was on the 28th last month if I remember rightly.
It’s not the UK time that’s the driver it’s Beijing time that’s the one currently just after 4.30 pm.