Bacanora Lithium Share Discussion Threads

[rimau1] 29/6/2021 11:51

IMO my guess is that the bid will proceed at the current implied offer price but it will be delayed and probably only complete in Q3. The board already indicated a willingness to accept so why pay more.

[husbod] 29/6/2021 11:05

They could also of course drop the bid altogether.Or just plough ahead with the current offer.Would be interesting for everyone on this board to express an opinion on the most likely alternative.I'll go for an increased offer.

[husbod] 29/6/2021 10:58

Yes, it's going to be interesting. They will no doubt be aware of the strength of opposition to their low ball offer- communicated to them by the Board no doubt - so I will be surprised if they stick with the current figure. Seems more likely they will up the offer or look for a further extension. But who knows.

[rimau1] 29/6/2021 10:50

Our 35% holding in ZNWD is looking healthy!

[ptolemy] 28/6/2021 11:35

Re. M&G - makes sense. Bid extension period ends in a couple of days, so we should get some news.

[flyfisher] 25/6/2021 12:02

Ptolemy, you are not wrong, the institutional holdings i collated have increased by about 2.15m shares, whilst their total percentage has declined by about 1.7%.

I would guess this is due to M&G not participating in the placing, as their holding remains the same, but has declined in percentage terms.

[ptolemy] 24/6/2021 10:10

fly,

As you know it's laborious work to go through all the data. You mention Kilick as reducing. Whilst Kilick have reduced as a % they appear to have increased their absolute number of shares. Peel Hunt, Cannacord, Citi and Credit Agricole are also active. And we also need to look at 8.5 declarations as well as 8.3.

At the moment I stick with my comment that institutional holders are net buyers. If I'm wrong apologies.

[flyfisher] 24/6/2021 09:15

Ptolemy, Institutional holders seem to have been net sellers since the initial offer.

According to rule 8.3 declarations, M&g and Killick have reduced, whilst Credit Agricole has increased.

[mark1000] 24/6/2021 08:33

In view of the mail above may be there will be an offer of cash or a Gangfeng share alternative so the institutional investors can remain invested in lithium.

[ptolemy] 23/6/2021 11:33

BCN's 35% stake in Zinnewald has increased in value by more than 25% since the take-over approach (cob May 5). All the more reason Ganfeng will want it to go ahead.

[igbertsponk] 23/6/2021 09:20

How is it funded to production if the loan has just vanished?!

[apollocreed1] 23/6/2021 02:31

You can buy Ganfeng on the Frankfurt market (Ticker - 39EA) in Euros for about 11 Euros. Analysts' average price target is 14 euros.

[r65767] 22/6/2021 20:10

Its funded to production. Not 18 months


Very big difference to the value of the company.

Saying the first implies risk. The second is de risked.

[ptolemy] 22/6/2021 14:29

.wrong thread.

[ptolemy] 22/6/2021 13:45

Look at the many RNSs that have been published in the last few weeks. Institutional shareholders are buying small amounts almost daily.

So the institutions either think the bid will go through and are 'topping up', or they are accumulating small numbers of shares hoping to block a bid. But this is an inefficient and unreliable way to block a bid when the obvious way is they simply join ranks to vote against the offer. Blocking a bid probably means a share price fall, short-term so why buy more now? Ergo, odds are it will go through.

[farrugia] 22/6/2021 13:32

'With an aggregated cash balance of US$161 million as at 31 May 2021 (including cash of US$30 million in Sonora Lithium Ltd), the Company has sufficient funds to support the short-term funding requirements and the ongoing construction program for the next 18 months. '

well the offer has to be substantially better or we'll giving them the mine for practically free!!

[igbertsponk] 22/6/2021 13:14

Not good on the financing vanishing. Will mean the takeover more certain to succeed though.

[farrugia] 22/6/2021 12:57

i wonder if i can vote - i'm with Interactive Brokers

[ptolemy] 22/6/2021 12:40

RNS issued re Zinnewald.

[mark1000] 22/6/2021 11:26

Green Vulcan its close to a one way bet but of course it all depends on those large shareholders lets hope they are pragmatic and realistic.

[greenvulcan] 22/6/2021 10:39

SP waking up to the imminent formal offer of 67.5p (or more?)Easy 10-15% from hereAll my own musings GLA LTH

[mark1000] 22/6/2021 09:14

Does anyone know what was said above I must say the Chinese do not like to rush into anything are they still pondering a bid or having decided to make a bid playing for time?

[davidosh] 18/6/2021 13:25

Just to let you all know that Bacanora will be featured on the Mello Monday investor show in three days time....



Here is the full programme...

6pm Welcome and News
6.05 pm Company presentation with Ken Wotton of Gresham House and Manager of Strategic Equity Capital plc (SEC)
6.45 pm Alan Charlton interviews Nabil Lawandy, CEO of Spectra Systems (SPSY)
7.20 pm Company presentation…. Time Finance (TIME)
7.50 pm A mid year interview with Stephen English
8.30 pm ‘Deal or No Deal’ at Bacanora Minerals (BCN)
8.40 pm The MelloBASH