Bacanora Lithium Share Discussion Threads

[johncasey] 08/5/2021 09:52

uk govt to block bcn takeover...latest....might fall alot monday

[1sjh] 08/5/2021 09:44

Why would u sell hear the deal is they will buy your shares at 67p then delist.. They have to get approval from Chinese government but that should be straightforward.. Directors are recommending this deal.. maybe there is some risk that the mexico government got involved but the US, Canada, mexico trade deal seems to prevent government interference from free markets.. 16% or close to on the risk of no deal seems like a hold to me.. Would u really mind no deal and have these shares going into a fully productive mine? Got to be worth multiples by then surely anyway..

[cleverinvester] 07/5/2021 18:51

Looking for more near the 67p before I could consider selling.Then again to, who knows another offer could come in...

[farrugia] 07/5/2021 12:04

Anyone wants to offload? I've put an order for 20k at 57. Come on before i change my mind!

[trickydicky1] 07/5/2021 09:55

Going above 29.99% triggers Rule 2.7 I think? And SAFE unlikely to allow cash to be spent like that/ NDRC approvals required. Compulsory bid not the way they’ll want to go.

[jaf111] 07/5/2021 09:48

Not clear why Gangfeng are not buying in the market at well below the bid price.....I don't think the rules prevent that???

[igbertsponk] 07/5/2021 09:20

I suspect Gangfeng will happily sell the Zinnwald stake to pay for the BCN takeover. Save them the EU heartache.

[goodgrief] 07/5/2021 09:12

Ptolemy, the EU is too distracted by vaccines and fish to notice!

[jarega85] 07/5/2021 09:05

MKA next best thing!

[spawny100] 07/5/2021 09:05

Sold out here as looks a done deal and not much happening for months. Split profits between EMH and THS.

[ptolemy] 07/5/2021 08:17

I think the under-reported story is that by acquiring Bacanora the Chinese will acquire a 44% stake in Zinnwald. That's a strategic asset in the heartland of the European automotive industry. I can't see that going down too well with the EU.

[mark1000] 07/5/2021 07:36

Interesting question were the big institutional investors approached before yesterdays provisional offer. Pretty stupid if no conversations and yesterdays approach was a pure suck it and see.Lets hope the Institutions will support it only if the bid price is increased. Could we see other bidders?

[w1ndjammer] 07/5/2021 07:34

This is the next step.... 3rd June



In accordance with Rule 2.6(a) of the Code, by not later than 5.00 p.m. on 3 June 2021, Ganfeng must either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Panel on Takeovers and Mergers in accordance with Rule 2.6(c) of the Code.

[nilla159] 07/5/2021 07:33

Have just bought two lots of 50,000 which have not shown in the trades list(yet).

[husbod] 07/5/2021 07:28

Unbelievably the Chinese have until the end of the year to make a firm offer so it's tempting to bail out and go elsewhere. Opportunity lost etc

[w1ndjammer] 07/5/2021 07:25

is anyone buying for the last 15% still on offer?

lucky for me i jacked up my position just a few days back,

thinking of buying more.....

unless there is anything worth flipping the lot into?

WJ.

[gepetto100] 07/5/2021 07:15

Mhin - of course Bacanora still have a stake in ZInnwald

[gepetto100] 07/5/2021 07:13

Main - there is indeed li in Cornwall but some way off any ipo

[mhin2] 06/5/2021 22:35

I think Tesla are quite happy to buy from Ganfeng...perhaps Tesla might want to buy from Duncan-Smith!

[igbertsponk] 06/5/2021 21:15

I've notified Elon, so expect Tesla to bid tomorrow.

[mhin2] 06/5/2021 21:10

the Chinese do want to control strategic materials, the EU/US want supply security..I am afraid an activist government with a clear industrial policy, vision of the future and deep pockets is going to steal the show...Its a Mexican asset...I am sure the Mexicans will not want to upset the Chinese. Seems like a done deal....at least the Europeans have the Zinwald deposit....I think there might be some battery grade lithium in Cornwall!

[igbertsponk] 06/5/2021 20:42

I note that the Hanwa appointee director is one of the so-called Independent Directors and guess this means that Hanwa are part of the deal.... another whiff of stinkiness.

[igbertsponk] 06/5/2021 20:34

Reflecting….
This is totally opportunistic from Ganfeng and strikes me as just a land grab before anyone else bids for the assets. They know that everybody is trying to secure all the lithium and copper assets and have zapped in to corner this one.
Despite not even have completed the previous deal to go to 28.88%!
Who are these independent directors who’ve agreed this all of a sudden? And having a long stop of end of the year is crazy.

To answer my own question.... "Bacanora Independent Directors - all the directors of Bacanora other than Xiaoshen Wang" (the Gangfeng appointee).
So why are the CEO and Chairman so keen to suddenly sell out of the project they've stuck their last few years into? Must be on a goodly promise!

Stinks, a lot. Not that I'm suggesting that a Chinese company would be anything but whiter than white....

[husbod] 06/5/2021 18:29

Independent directors indeed. Love to know what persuaded them to recommend such a low ball offer. Market reaction is interesting though - clearly it does not expect a bidding war but neither does it expect the deal to go through any time soon otherwise the share price would be around the offer price.Not sure whether to sell and go elsewhere or to hang on to see what happens. Probably do a bit of both depending on what happens over the next couple of days.

[laserdisc] 06/5/2021 18:25

I paid more than the offer and held for many years thought m&g paid more than the offer on table will vote against