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The BCM holding used to be 9% but it is no longer mentioned> I think it was quietly sold off. I did ask Management but got no response. However they do own 30% of the mexalit project which is not quite the same and difflcult to value. I copied this from the website.
Quote
La Ventana and La Ventana 1 concessions, which are 100 per cent. owned by Minera Sonora Borax S.A. de C.V.(“MSB”), a wholly-owned subsidiary of Bacanora; Cadence Minerals, Cadence has no interest in these concessions.
El Sauz, El Sauz 1, El Sauz 2, Fleur and Fleur 1 concessions, which are held by Mexilit S.A. de C.V. (“Mexilit”). Cadence has a 30% direct interest in Mexalit through its Joint Venture with Bacanora. Unquote
One of my David Lenigas stocks has finally taken off. I have been buying all the way down the lowest being 5p so my average is 9p . My other DL stocks are BCN and UKOG. If UKOG go into orbit with a Turkey strike, I'm cashing in and buying a seaside property !
Sold these at 9p eons ago as I thought the management were dragging their feet. For instance there was an International Maritime conference on cleans fuels but Quadrise were not there. I asked them why not and they replied that it was too early. ?
Perhaps with the IMO breathing down shipowners necks its time to go back in. ?
I think you may be a bit light on Yangibana. This is a joint venture with Hastings Technology metals and is part of their major asset base. Hastings cap stands at A$217m and Cadence has a 30% interest in most of their projects.
Mullins 58 I too have an AIM portfolio and have enjoyed some major recoveries of late, . KDNC BCN, Wishbone and EMH, The only stock gumming up the works is UKOG and I am hoping that will change soon. I have averaged down and now hold several million at 0.29. It wont take much to put a smile on my face.
They did. I remember it very well. Somebody posted on here that "that make s the company worth £214 m which is ridiculous. I'm out" Should have followed suite. It doesnt show in the charts because it was very short lived.
AP I have been in UKOG since David Lenigas went on TV talking about the Gatwick gusher. I was a relatively big holder when they hit 14 p. Pound signs started flitting through my eyeballs and I lost the plot. Didn't sell and to my eternal shame I didn't sell my grandchlldren's holdings Junior Isa's holding either. Fortunately for them most of their funds are invested in proven unit trusts such as Fundsmith equity and Polar cap showing 92% and 162% profits respectively. I believe that if the original reason for investing still holds good and I believe it does, then you should keep buying on the lows. My UKOG average is 0.39 which I think is doable with some positive news. I may go in again to bring the average down even further but I would like to see some evidence of progress.
We have known about this for some time and we were willing the shares over 16p to get this out of the way. The SP drop is knee jerk and when the jerks understand it we will be back on course. It maybe that as someone has picked up nearly 9m shares at 12p there are fears that they will take their profits but would you ? . Another buying opportunity but as my average is less than 3p i'll stick. DYOR
Some of what has been said is true. I worked with the founder of AIM and his company made obscene amounts of money. A junior typist on £6k pa was given a £17k bonus and her father was so suspicious he marched into their offices and demanded to know what she had to do for that sort of money? It meant that at 16 she was earning twice what her father was. One of my friends became a millionaire several times over at the age of 25? All done on the back of PI's
I sold two thirds of my holding in REM many years ago and bought Bacanora EMH then Hastings technical and Macarthur Mins whilst they have all risen KDNC has not ? Do we have to wait for an income stream to see the light of day? Luckily I have been buying all the way down and my average is 9p . could 2021 be our year? I hope so.
The last time I looked KDNC had a holding of 30% of Hastings technical metals. Their market cap is A$217m £65m KDNC share worth £37M against a KDNC Market cap of £21m Add in all the other investments, Bacanora, European metals Amapa ? It makes no sense?
Warren Buffett made most of his money buying when everybody else was selling. On that basis i have dived in again and now my average is down to 0.35. 2021 will be the year for all my LTH stocks. BCN, KDNC, UKOG, EMH, UJO. Already enjoying healthy profits on three. Three out of five ain't bad. DYOR.