Bacanora Lithium Share Discussion Threads

[flyfisher] 12/11/2021 07:50

So, just waiting for the FECC mexico approval, which may need an incentive payment.

[adobbing] 12/11/2021 07:16

Does this morning’s RNS mean they’ve got to 50%?
I see a figure of 56.6% mentioned;

“ Accordingly, as at 3.00 p.m. on 11 November 2021, Ganfeng holds, or has received valid acceptances in respect of, a total of 217,387,053 Bacanora Shares (representing 56.6 per cent. in aggregate of Bacanora's issued ordinary share capital), which Ganfeng may count towards the satisfaction of the Acceptance Condition.”

[adobbing] 08/11/2021 15:16

@godofserpents

This is what I thought, but was told otherwise on here.
So what you are saying is if they get 50% acceptance I would be eligible for the Zinnwald anyway.
I would rather sell in the market as past experience of one of these, is waiting forever for the cash after the deal completed.
I’d rather be out and gone long before that, particularly if I can get close to (or even above) the offer price.

[husbod] 08/11/2021 11:11

Good post tiglepiglet.Only those whose perspective is extremely short term, and who couldn't give a fig about the increasing CCP dominance of the market for metals essential to a decarbonised future would vote to accept.

[tigletpiglet] 08/11/2021 09:25

To eakin28 Oct '21 - 14:01 - 5553 of 5568

Clearly you're an amateur investor or just unwilling to take the letter as an input to your thought process. It's very childish to accept or reject based on your angry response to a letter. Grow up and think it through properly as an objective investor.

I got the same letter and it made me think about the merits of this offer. When I originally invested in #BCN I had a share price about 10x as much as the offer price in my analysis. I'd lost hope a bit as I thought it was a done deal because the board have supported it and committed to the deal.

Now I'm not so sure. I looked at the last two RNS and there was zero increase in acceptance of the offer. All Ganfeng did was add the M&G figure to the total where the just listed it as a letter of intent the previous week. Other than that zero incremental acceptance.

The exec board members stand to benefit from their options vesting early on the takeover yet have very little actual % holding in the company.

Ganfeng have massive take off agreements that need this 250+ year resource and are clearly making a strategic play as are many other Chinese companies. There's no way they will back out if their offer isn't accepted. Either they will increase it or continue as JV partner which will be a lot better, financially, for LT shareholders.

Having analysed all the inputs I can find, I've decided that they are not best representing my interests as a shareholder and I am going to REJECT this offer.

Just my thoughts, speculation and opinion and in no way financial advice.

GLA

[godofserpents] 07/11/2021 22:32

@adobbing If it is before the cut-off date, you just need to ring your broker up to withdraw your acceptance and then sell on the open market.

@steeplejack Ganfeng need 75% to delist. Over 50% we will get ZNWD shares. If they can't get over 75% I suspect some short term weakness but the Lithium is hot right now and this share has been lagging.

[godofserpents] 07/11/2021 22:22

@casa Likely yes. If Ganfeng get to 50% your shares will still be listed and tradable. Above 75% Ganfeng would apply to delist which would be riskier for ISA holders but I suspect offer would remain on the table as they really want 90%. Not sure how the cut off sits now with the Mexico government delaying things now. With an outside chance the deal could scuppered. I'm kind of hoping that the 75% level is not hit, as such I haven't accepted.

Just a side note. You don't have to accept to get the ZNWD shares. If Ganfeng get over 50% the shares will be given to all holders as a dividend and those will stay in your ISA/SIPP whatever happens around delisting.

The deal definitely greatly undervalues the asset and the share price has been held back with this hanging over it. If the deal doesn't go through, the price is likely to drop but I would suspect only short term as Ganfeng need this asset online to hit their targets even if it under a off-take as a JV.

[adobbing] 03/11/2021 21:22

I think you’re probably right, would get interesting if the price goes up much more though!

[adobbing] 03/11/2021 18:48

A theoretical question;

If I’ve already accepted through ii website, can I still change my mind and sell on the open market?

[bountyhunter] 03/11/2021 18:36

If/when declared unconditional you will have no realistic option other than to except the offer.

[casablanca44] 03/11/2021 18:32

Little help please.
If saying no to offer and Ganfeng acquire 50%, will investors still be able to accept offer before possible de-listing.
Once again AIM investors being shafted for what is a highly valuable asset,
Cheers.

[w1ndjammer] 02/11/2021 08:32

I also got a letter, however i sold all my stock in June, so where are
they getting names and addresses from, thought that practice was illegal.....

WJ.

[steeplejack] 01/11/2021 20:47

Ganfeng Lithium Co. has inked a contract with Tesla Inc. to supply the electric-car maker with battery products from 2022 to 2024.The Chinese lithium producer and its unit GFL International Co. will supply battery-grade lithium hydroxide products to Tesla, Ganfeng Lithium said Monday.Ganfeng Lithium didn't disclose details but referred to purchasing orders from Tesla for actual volumes and prices.It said that the contract is beneficial for strengthening its "long-term stable collaboration" with Tesla.

[fez77] 30/10/2021 17:04

About 3/4 years ago I had a significant holding (£10k plus) in ASA Resource Group plc. It got taken over and the offer for the shares was derisory. I decided not to accept the offer and to wait for the company (Chinese) taking over, to come begging me on their hands and knees to buy my shares for a premium. It never happened. I lost the lot! So I'm not risking the same scenario. I'm accepting the offer. Good luck to those holding out. I wish I could stand shoulder to shoulder with you!

[eakin] 29/10/2021 07:35

Its the tone of the letter that was all wrong...

[apollocreed1] 28/10/2021 19:51

I'm already on board with "THINKBIG", but they wrote to my mum and a friend who's account I manage because they raised £5k from donations to pay to send letters to all the shareholders on the register.
I bought in at 108p so this offer is a significant loss for me.

[pinchers] 28/10/2021 15:10

I got a letter this morning too saying they had 500 investers onboard for not accepting the offer. It doesn't say how many shares, or what percentage of the company they have, to try and stop this. Guess it's people who have lost with the current offer price.
Been through this process before with a company called ICS and shareholders managed to stop them from getting the 90% control. They company even did a 1 for 10 share dillution to try and cross the line after this, to dillute the shares further. Eventually after 7 years I got a letter saying they wanted to buy my shares for 3 times what I paid for them which I gladly did. Wouldn't want to go through that again, and think I was lucky.
I averaged down, so am in profit still, so I'm accepting the offer too.
Good luck to those that don't though, it will be a long drawn out affair.

[adobbing] 28/10/2021 14:22

So skimming the latest RNS from this afternoon.
Would I be correct in assuming that they now have 42.8% ?
So another 7.2% and it is unconditional?

[longshanks] 28/10/2021 09:36

I got an interesting notification from my broker yesterday. Apparently the distribution of ZNWD shares will only be to those shareholders that agree to the takeover before it going unconditional. Hardball tactics or desperation?I suspect this means I will get a few more than I thought.

[husbod] 25/10/2021 13:30

Maybe the UK and US governments have had a quiet word in their ear about the CCP cornering the lithium market. Who knows.

[flyfisher] 25/10/2021 09:05

Why would they want to ?
They seem to be trying to ensure that any developments are well funded and to avoid a land grab by speculative operators.

[husbod] 25/10/2021 08:36

And meanwhile we draw closer to production. Wonder what the chances are of the Mexican government stymieing the deal.

[igbertsponk] 07/10/2021 07:24

So that RNS is odd... seems no rush to accept the offer. Only one institution M&G given in so far. This could end in tears.