Bacanora Lithium Share Discussion Threads

[dplewis1] 29/7/2021 10:04

What a mess

[adobbing] 29/7/2021 10:02

Extension to 26th August 😡

[carcosa] 28/7/2021 10:56

"...were supposed to have made a firm offer or confirm that their offer was withdrawn by the end of last month and that as they failed to do so they were granted an extension to the end of this month."

Technically you are right but practically you are incorrect. You are mistaking the requirements of the Takeover Code to what has been agreed and announced between Ganfeng and Bacanora as I alluded to in my #5358 post (which seemingly you did not read).

BCN, as a listed company, has to comply with the code but for all intents and purposes it is merely an administrative nuisance as I mentioned weeks ago.

[r65767] 28/7/2021 10:50

This proposed offer has capped the price.

Totally out of order

[igbertsponk] 28/7/2021 10:36

Takeout price should have had a ratchet penny a month increase in it for each month fo delay.

[husbod] 28/7/2021 09:46

Ps - are yuan insomniac or posting from the Far East?Hmm even my phone seems to have a Chinese component - I typed you and it came out as the Chinese currency. Spooky.

[husbod] 27/7/2021 22:26

This time last month I wondered which was more likely:1. A firm bid at the proposed price.2. A bid at a higher price 3. The withdrawal of the bid altogether.4. A request for another extension supported by our supine Board and granted by the authorities who seem to have forgotten that extensions should only be granted in exceptional circumstances.Answers on a postcard please.

[husbod] 08/7/2021 13:40

PS - the Newport Wafers takeover - see recent post - is now been looked at by BJ. Simply can't believe that it wasn't immediately looked at under the new law that is supposed to protect important industries. NW is apparently the biggest producer of semi conductors in the UK. If so we must have an extremely small presence in that vital market.

[husbod] 08/7/2021 13:33

Yep the other authorities ie the CCP have approved it. There's a surprise but it just shows how these strategically important Chinese companies are just tools of a very nasty state. Interesting article in this respect in the Telegraph on line today.Cheers Dee - so according to their normal practice the Takeover Panel should not agree any further extension but in practice they just roll over.

[return_of_the_apeman] 08/7/2021 10:09

Another pre-condition to formal offer met this morning

[dee12345] 05/7/2021 19:52

@husbod

I contacted The Takeover Panel, and in effect, extensions are only approved in extreme circumstances.

Whilst in theory they 'approve' it, in reality they rubber stamp it.

It's the board who are approving these extensions in the likely hope that we falter.

Campaign is still going strong, with a lot more to come.

These extensions are organising opportunities for us.

[husbod] 05/7/2021 07:29

Not just lithium We have a great little hi-tech outfit down the road - Newport Wafers a Semi conductors supplier - and guess who's looking at taking them out.Might time it so we don't notice them taking out Taiwan and their essential strategic supplies.And who's building the giga battery factory up in Sunderland alongside the Nissan plant. Ah yes a Chinese company.Their testicles are everywhere.

[farrugia] 04/7/2021 13:12

'According to Rystad Energy, the energy research firm, miners can cope with current demand for electric vehicles, but there will be a serious lithium supply deficit by 2027. Rystad thinks that the price of lithium could triple by the end of the decade unless new mines come on stream soon. That means that the cost of EVs will also rise. About 300,000 tonnes of lithium carbonate will be consumed by EV battery manufacturers this year. That will rise to 2.8 million tonnes by 2028. We therefore risk being held to ransom by a hostile state which controls the lithium supply. (Who could that possibly be?)'

[husbod] 01/7/2021 09:44

Which makes the offer even less attractive.And yes I did read the original RNS.

[husbod] 01/7/2021 09:42

And each months delay is month closer to production.

[igbertsponk] 01/7/2021 09:09

Who could have predicted another delay?
Suspect the tactic is delay and delay until everyone just wants their money and rolls over and accepts the bid. Company has enough dosh anyway so can just get on as if it's already a Ganfeng subsidiary.

[carcosa] 01/7/2021 09:05

Why is it" unacceptable"? They made it perfectly clear in the 6 May 2021 RNS it would take months. Did you read it? In fact I even re-stated it in post #5358 (19th May) and #5360.

[husbod] 01/7/2021 07:06

Surprise surprise.Completely unacceptable. Been investing for some 40 years and never known a company to announce a bid they're not in a position to activate.Another month of uncertainty.Time to contact the Takeover Panel and demand they refuse any further extension. Put up or shut up as they say.

[husbod] 30/6/2021 13:31

Something that may not have escaped Ganfeng's notice. Been up a while now in the People's Republic of China. Do we get to know their decision today or are they trying to negotiate a further deferment?Would have thought that if they were sticking to their indicative offer it would be a straightforward matter to confirm it.

[mark1000] 29/6/2021 14:45

Think there could be a share alternative so there is a choice cash or GANGFENG shares our institutional shareholders love a choice particularly if they can avoid a tax bill.

[greenvulcan] 29/6/2021 12:42

Official offer at 67.5p coming SimpleIMHO GLA LTH