Member Info for Versuvius2019

https://www.proactiveinvestors.co.uk/companies/news/940114/bacanora-signs-new-deal-with-ganfeng-lithium-with-production-at-sonora-slated-for-2023-940114.html

So Ganfeng now owns 50% of BCN holding company, Sonora Lithium?

Bacanora Lithium PLC (LON:BCN) said it has signed a new joint venture agreement with its cornerstone investor and offtake partner, Ganfeng Lithium Co Ltd.

Ganfeng recently exercised its option to take its stake in the holding company which owns Bacanora’s Sonoara lithium project in Mexico from 22.5% to 50%.

Completion of the joint venture remains conditional upon certain approvals and consents from authorities in the People's Republic of China.

Once Ganfeng has received approval from the relevant authorities in China and the holding company, SLL, has received £21.9mln of funds in payment from Ganfeng, completion will take place.

Bacanora will remain as the operator of the project, while Ganfeng will be responsible for leading the engineering, procurement and construction activities.

Ganfeng is continuing to integrate its flow sheet for the production of battery grade lithium into the final engineering design and remains on schedule to deliver its final engineering packages to Bacanora during the first half of this year.

"We are pleased that Ganfeng and Bacanora have agreed terms on the updated joint venture agreements and look forward to completion of Ganfeng's investment to own 50% of the Sonora Lithium project,” said Bacanora chief executive Peter Secker in a statement.

“Their investment further de-risks the project and reduces the equity demands on Bacanora's own shareholders to fund Phase 1 of the project. The Sonora lithium project is now well placed to be in production in 2023 and delivering battery-grade lithium products into the fast-growing energy storage market."

I remember having these discussions on the Greatland Gold board, after it had been taken over by Newmont in 2019. The share price is now 3000% higher, than it was then. I see in the RNS, Ganfeng will likely exercise their right to more shares at 45p, to own 29% of the company. Not sure this makes any difference to what the share price might be one year from now.

I should sell up then?

Secker said BCN is fully funded, and the board will now focus on improving shareholder value. It would not make sense for Ganfeng to dilute further. It would make more sense for Ganfeng to buy BCN out. With expected profits for 2020 at 1.07 billion yuan, or £192,813,019, a few million here or there is meaningless.

Anyone know the difference between ‘transfer to’ and ‘transfer from’ regarding BCN board members share transfers?

Secker: 336,250
Ainsworth: 3,012,547
Hodgkinson: 763,550

Taken from the LSE website regarding Peter Secker’s ownership of shares in BCN:

02-Oct-20 Transfer From Peter Secker 0.00. 336,250

03-Feb-21 11:38:13 47.7399 6,339 Sell* 3,026

This is my trade made with Hargreaves and Lansdown, wrongly marking as a ‘Sell of 6339’ shares. They were bought! How does LSE get this wrong so frequently?

I had 100,000 shares of Greatland Gold. Sold at approximately 90 pence as I was tired of the price flux. Now selling at 28p this prospective gold mining company has seen an increase in share value of 3011%. I am not missing out twice. Now own 10,000 shares.

The market isn’t totally blind, but it is very myopic.

My Grandfather is a long retired Professor of Physics, and it is perhaps because of him that I am invested here in IQE. For it is the joy of investing in what one doesn’t fully understand; as only those with a degree in quantum physics can only truly understand; yet with a sneaky suspicion that you have stuck gold.

As I stand in line to receive my Pfizer vaccine, which has been stored at -70, I wonder when British regulators will get there act together and authorise our much more practice Oxford Vaccine. It seems the Russians will get it before we do.

As I stand in line to receive my Pfizer Biontec vaccine, thawed out; as it has been from -70 Degrees Faranheit, and deliverable within three days, my thoughts are these. When will British regulators pull their finger out and authorise our own, British made vaccine?

I like the cut of this board's jib.

So, rather than watch a 50% loss on share price value I have joined the Barrick Gold band-waggon, to recover losses, and will wait for Bac share price to stabilise. Assuming news from Ganfeng end of month? On a Friday?

Yes, this was my thought. When will Newcrest give us thier full assay results? Mid August?

Passing 40p now, howdy folks!

So, doing a bit of research about Newcrest/Greatland joint venture; and very suprised to see Greatland mentioned in a Forbes article. No smoke without fire? That's a whole lot of smoke!

https://www.forbes.com/sites/greatspeculations/2019/03/14/gold-miners-are-finally-making-some-interesting-capital-investments/#3da3766e65a9

So, doing a bit of research in Newcrest/Greatland Hold deal; and very suprised to see Greenland mentions in a Forbes article. No smoke without fire? That's a whole lot of smoke!

https://www.forbes.com/sites/greatspeculations/2019/03/14/gold-miners-are-finally-making-some-interesting-capital-investments/#3da3766e65a9

She's gonna blow any minute now. I may only have 100.000 shares but it's quite enough for me and I intend to hold for the very long term.

On a warm summer's eve
On a train bound for nowhere
I met up with the gambler
We were both too tired to sleep
So we took turns a-starin'
Out the window at the darkness
The boredom overtook us,
And he began to speak
He said, "Son, I've made a life
Out of readin' people's faces
Knowin' what the cards were
By the way they held their eyes
So if you don't mind me sayin'
I can see you're out of aces
For a taste of your whiskey
I'll give you some advice"
So I handed him my bottle
And he drank down my last swallow
Then he bummed a cigarette
And asked me for a light
And the night got deathly quiet
And his faced lost all expression
He said, "If you're gonna play the game, boy
You gotta learn to play it right
You've got to know when to hold 'em
Know when to fold 'em
Know when to walk away
And know when to run
You never count your money
When you're sittin' at the table
There'll be time enough for countin'
When the dealin's done
Every gambler knows
That the secret to survivin'
Is knowin' what to throw away
And knowin' what to keep
'Cause every hand's a winner
And every hand's a loser
And the best that you can hope for is to die
in your sleep
And when he finished speakin'
He turned back toward the window
Crushed out his cigarette
And faded off to sleep
And somewhere in the darkness
The gambler he broke even
But in his final words
I found an ace that I could keep
You've got to know when to hold 'em
Know when to fold 'em
Know when to walk away
And know when to run
You never count your money
When you're sittin' at the table
There'll be time enough for countin'
When the dealin's done
You've got to know when to hold 'em (when to hold 'em)
Know when to fold 'em (when to fold 'em)
Know when to walk away
And know when to run
You never count your money
When you're sittin' at the table
There'll be time enough for countin'
When the dealin's done
You've got to know when to hold 'em
Know when to fold 'em
Know when to walk away
And know when to run
You never count your money
When you're sittin' at the table
There'll be time enough for countin'
When the dealin's done