Bacanora Lithium Share Discussion Threads

[outsizeclothes.com] 12/5/2021 18:05

Bought 20k for the wife's ISA @ 56.4
At 67 next Feb that's 25% p.a. return.

[trainsailing] 12/5/2021 09:52

Peaky traders you must be really desperate. How much money have you lost on SYME so far?

[rimau1] 12/5/2021 08:24

More for me at 55.8 this morning. I have limit orders set all the way back down. Given my strong conviction i should back it up by continuing to buy!

[steeplejack] 11/5/2021 17:54

Yes,i agree with your thoughts,I think a counter bid unlikely,not only because of Ganfeng’s stranglehold of a near 30% holding but because of how matey the BCN management are with Ganfeng.A purchaser pays what he has to in order to secure a deal,paying a ‘fair’ price has nothing to do with it,we all love a bargain.M&G might push for a few more coppers.They might of been sounded out pre the recent RNS but actually,a lot of institutions balk at being ‘taken over the fence’ pre sensitive announcements because it effectively ties their hands.If a formal offer of 67p emerges,then the MMs will probably make something round 60p ish.They know how impatient people will be to move on.They’re playing that card now.

[return_of_the_apeman] 11/5/2021 15:44

Would have thought a formal offer by the 3rd would take this to 65p straight away imo

We shall see

[r65767] 11/5/2021 13:24

You don't really need to buy the whole company. Some institution or fund just needs to buy enough to block the takeover and look forward to a much higher share price in the future.

That is someone looking for 120p in the future plus dividends.

[outsizeclothes.com] 11/5/2021 12:52

There's going to be no counter offer unless someone believes that Gangfeng will sell their 17 / 29% shares and their half of Sonora.
They might do, but highly unlikely as they know the potential.
So at 56p to buy, existing and potential shareholders are looking at a 9 month target of getting 67.
The Board & Gangfeng will have sounded out institutions. The formal offer will be made by June 3rd, and we will then probably see 58-60p, followed by a penny a month climb to 67.

[rimau1] 11/5/2021 08:22

Farrugia - My point was more around that a competing offer is extremely unlikely due to Gangfengs existing ownership and significant control (Sonora 50%, and project manager). To your point the key is that the board of directors are recommending the offer, they usually have an informed view on stakeholders appetite to sell before going on record as approving the offer and also remember we had a placing at 45p so those shares are 50% up. Its all just my opinion.

[farrugia] 11/5/2021 07:09

rimau with your reasoning Gangfeng will have to pay out more or they risk minority shareholders not approving the 75%

[igbertsponk] 10/5/2021 15:31

It has to announce that it intends to MAKE the offer. But then has ages to come up with the dosh. And no rush to do it.
And look at the time they usually take to get the $$$ out of China.
They have the cheek to pretend they own 29% of the company when they still haven't paid for it and actually own 17.41%.

[coldjoe] 10/5/2021 15:23

after reading the potential offer couple of times I'm still not sure about the timetable. Does GF need to come up with formal offer until the 3rd of June unless they ask for extension? These two paragraphs seems to contradict each other:

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.

and

It is expected to take up to eight months for the Outbound Direct Investment Pre-Condition to be satisfied, such that in the event that each Pre-Condition has been satisfied (or alternatively waived if capable of waiver), the Agreed Form 2.7 Announcement should be made prior to 31 December 2021.

is any1 here any wiser?

[dplewis1] 10/5/2021 10:28

I remember laughing at KDNC selling their shares at a quid.. oh how I laugh now..

[johncasey] 10/5/2021 09:17

peanut money..not worth the effort selling

[geraldus] 10/5/2021 09:05

A profit is a profit.Always worked fine for me.

[beeks of arabia] 10/5/2021 09:01

You have to love those who tell us they have sold up and moved in to X.

[geraldus] 10/5/2021 08:59

Strange price reaction to a bid.Must admit,moved some into HEIQ.Direct EV beneficiary with potential battery advancements in the pipeline.Gla.

[husbod] 10/5/2021 08:49

Very true - can't blame the Chinese. The fault lies entirely with our board who seemed to have rolled over at the first offer. Parachute David Frost in and we might benefit from someone who can play hardball.

[cleverinvester] 10/5/2021 08:41

Just sold up and gone to Zinnwald . Seems like the logical thing to do as I believe they are next ....

[linton5] 10/5/2021 08:40

Well they ain’t want to buy it overvalued that’s just human nature I’m a 57yo fifer and wee kin moan Laudie

[husbod] 10/5/2021 08:37

I'm of a certain age where moaning comes naturally. I'll moan at anything me but I'll particularly moan at the sale of a company at an undervalue and really really moan when that sale is to the Chinese.

[johncasey] 10/5/2021 08:35

board are getting backhanders...obvious