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BCN Bacanora Lithium Plc

67.00
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Bacanora Lithium Plc LSE:BCN London Ordinary Share GB00BD20C246 ORDS 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 67.00 67.00 67.50 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Bacanora Lithium Share Discussion Threads

Showing 3776 to 3798 of 5925 messages
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DateSubjectAuthorDiscuss
07/9/2017
17:19
Well, sounds like it won't make the stock much more liquid? But, given the bad blood between BCN and Cadence, maybe now they're partially out BCN will be more motivated to actually move on and make progress which wil increase (their) share price Wjat do you think?
runthejoules
07/9/2017
15:47
Cadence Minerals Plc

("Cadence Minerals", "Cadence" or "the Company")

Cadence Minerals delivers a £2.7 million profit on the partial sale of its equity stake in Bacanora Minerals Ltd.

Cadence Minerals is pleased to announce that it has sold approximately 8.90 million shares representing 42% of its equity stake in Bacanora Minerals Ltd ("Bacanora") for gross proceeds of £6.23 million. Cadence purchased these shares between June 2013 and September 2014 for £3.56 million. The realised gross profit from this sale is £2.67 million, or a 75% realised a return on our equity investment.

As announced in the cleansing statement on the 21 August 2017, Cadence Minerals was approached by a single strategic investor who was interested in taking a material portion of the total equity stake owned by Cadence in Bacanora. Subsequent to this, and after further negotiations, management determined that Cadence should re-engage with institutional investors to complete the sale. As such Cadence has sold approximately 8.9 million shares to several institutional investors, and it has for the time being ceased discussions with the strategic investor.

Cadence Minerals continues to have great confidence in Bacanora Minerals and its management team, and we look forward to being a supportive shareholder and joint venture partner in the development of the Sonora Lithium Project. We continue to believe that the Sonora Lithium Project has the potential to be a significant producer of battery grade lithium carbonate and will form an important part of the global lithium compound supply chain in the coming years.

Nonetheless given that Cadence is an Investment company, Cadence has taken this decision to realise some of the profits from this investment for two principal reasons.

First, it is important of itself that we realise investment profits in a timely fashion for the benefit of the Company.

Second, this is also a strategic decision to redeploy some of the sale proceeds for reinvestment in other early stage mineral exploration companies where we can both hold larger stakes and add our considerable mining and financial management expertise to achieve returns of a similarly high level to those made on our Bacanora investment to date.

The board and its strategy have evolved significantly since the Company took a minority stake in Bacanora four years ago and it will be an increasingly stronger theme with our new investments that we take a more active role in the management of the companies we invest in.

In addition, we also will utilise the Companies now bolstered balance sheet to renegotiate the current debt facility which is redeemable during the current fiscal year.

The Sonora Lithium Project and Details of Cadence's ownership:

Subsequent to this disposal Cadence Minerals will hold 9.3% of the equity in Bacanora Minerals and 30% of Mexalit and Megalit joint venture companies. Mexalit is the owner of the El Sauz, El Sauz 1, El Sauz 2, Fleur and Fleur 1 mineral concessions. These concessions form part of the Sonora Lithium Project as assessed in the Pre-Feasibility Study ("PFS") published in April 2016 by Bacanora.

As of the date of publication of the PFS, The Sonora Lithium Project contained some 7.2 million tonnes of Lithium Carbonate Equivalent ("LCE") within the indicated and inferred mineral resource estimate categories sit on the of which of which 2.1 million tonnes of LCE were classified as probable mineral reserves. Of these mineral resources and reserves, 4.1 million tonnes of LCE total mineral resources and 1.7 million tonnes of LCE probable mineral reserves sit within mineral concessions owned by Mexalit.

Megalit does not form part of the Sonora Lithium Project as defined PFS and as yet has had no mineral resource estimate carried out on it.

The direct and indirect interests of Cadence in the Sonora Lithium Project and other mineral concessions in the Sonora province are as follows:

- La Ventana and La Ventana 1, which are 100 percent owned by Minera Sonora Borax S.A. de C.V.("MSB"), a wholly-owned subsidiary of Bacanora; Cadence, through its direct interest of 9.3% of Bacanora, has an indirect interest in these concessions of 9.3%.

- 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, and when combined with Cadence's direct interest of 9.3% in Bacanora, has a total economic interest in Mexalit of 36.5%.

- Buenavista, San Gabriel and Megalit concessions, which are held by Megalit S.A. de C.V. ("Meglait"). Cadence has a 30% direct interest in Mexalit through its Joint Venture with Bacanora, and when combined with Cadence's direct interest of 9.3% in Bacanora, has a total economic interest in Mexalit of 36.5%.

Prior to publication, certain information contained within this announcement was deemed to constitute inside information for the purposes of Article 7 or EU Regulation 596/2014. Upon publication of this announcement, this information is now considered to be in the public domain.

beergut
07/9/2017
15:46
Absolutely and it looks like the buyer had the upper hand
rossowheels
07/9/2017
15:30
Not necessarily, as that price is intra-party and not a market trade. It may have been taken as a sign of strength by the market, but that doesn't really count for much either (any more than the low price being a sign of weakness). Intra-party share sale prices only really tell you where the negotiating power lay in a deal between two parties.
simonsaid1
07/9/2017
15:12
That's true although a sale at a premium would have seen BCN rise instead of the fall today IMO
rossowheels
07/9/2017
15:04
Shares are often sold at negotiated rates, that doesn't mean the market has to follow for some weird unwritten magic reason! Rather it suggests that Cadence needed cash and the buyer had some power in the negotiation. It's possible that they'll instantly dump the shares on the market and harm the BCN share price, but seems unlikely that a 'strategic investor' would go to all this trouble to accumulate for an immediate sale. Easier ways to make a living!
simonsaid1
07/9/2017
14:43
Correction 70p a share!!!
rossowheels
07/9/2017
14:42
Cadence just sold a large slug at 79p a share so that kind of indicates where this is heading?
rossowheels
07/9/2017
13:52
Oh lordy funkbum. Someone buy that dip, I'm skint and wish I'd never heard of lithium. You'd think there weren't going to be any cars or energy storage.
runthejoules
07/9/2017
13:35
Well I have a few more this AM.
ifthecapfits
07/9/2017
13:34
Big sale todayWho was the buyer?
beergut
07/9/2017
09:51
All Jaguars to be electric from 2020.....



Come on BCN - get that/those mines up and running.

ifthecapfits
05/9/2017
15:43
Oh I'm sorry - I didn't know the internet police operated on this thread!!

I will correct your honor ;)

ifthecapfits
05/9/2017
13:47
Time for a few more - for the bottom drawer.
ifthecapfits
03/9/2017
22:46
Closer than many to production.
qackers
02/9/2017
07:04
I suppose at some point the lithium boom might have an impact here. Maybe it'll start to move and just keep heading north.

Sigh!

hiddendepths
30/8/2017
09:44
Leaky? On a 2% increase? Lol I think this is just the market slowly switching on to the lithium sector and to Bacanora's excellent projects.
simonsaid1
30/8/2017
09:31
Now what is going on here? Leaky leaky?
runthejoules
24/8/2017
09:34
RTJ - I agree. But as a professional in the storage industry I would add that it is lithium based technologies that are becoming increasingly bankable and until that changes I will remain invested here. If other technologies can demonstrate that they are technically feasible and cost competitive, there is still a long journey to achieve fund acceptance.
melody9999
24/8/2017
08:00
My view is they need to hurry tfu before supercapacitors or hydrogen catch up. And what's the name of that technology to speed up drying the brines called again? I speak as a longterm far too patient holder.
runthejoules
24/8/2017
07:23
From the update, all looks to be proceeding to plan.

The bit about Solarworld is interesting. I guess that it is BCN's intention to acquire the reamining 50% assuming the FS looks ok. In the meantime if Solarworld is sold then I guess that agreement will novate across to the new owner. Not sure what happens if Solarworld are forced to close down ....could be a fire sale in which BCN negotiate better terms to secure the outstanding 50%?

Can't see any particular downside though to BCN which probably translates into BCN saying 'no material impact'.

Any views anyone?

melody9999
24/8/2017
07:16
There's the update. Timelines seem to have slipped a tad, but the end result will be very profitable.
igbertsponk
23/8/2017
12:55
Creeping up at a snails pace.
ifthecapfits
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