Share Name Share Symbol Market Type Share ISIN Share Description
Bacanora Lithium Plc LSE:BCN London Ordinary Share GB00BD20C246 ORDS 10P
  Price Change % Change Share Price Shares Traded Last Trade
  0.15 0.22% 67.25 329,433 08:00:02
Bid Price Offer Price High Price Low Price Open Price
67.00 67.50 67.25 67.15 67.25
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining -9.57 -4.04 222
Last Trade Time Trade Type Trade Size Trade Price Currency
12:07:12 O 1,200 67.15 GBX

Bacanora Lithium (BCN) Latest News (3)

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Bacanora Lithium Investors    Bacanora Lithium Takeover Rumours

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Date Time Title Posts
19/9/202122:43Bacanora Minerals5,533
20/1/202105:07Bytecoin Price Prediction 2021-
13/9/202014:40Bacanora Minerals to head back to 60p37
13/9/202014:39long term holder4

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Bacanora Lithium Daily Update: Bacanora Lithium Plc is listed in the Mining sector of the London Stock Exchange with ticker BCN. The last closing price for Bacanora Lithium was 67.10p.
Bacanora Lithium Plc has a 4 week average price of 55.25p and a 12 week average price of 55.25p.
The 1 year high share price is 68.50p while the 1 year low share price is currently 21.50p.
There are currently 330,811,568 shares in issue and the average daily traded volume is 4,383,366 shares. The market capitalisation of Bacanora Lithium Plc is £222,470,779.48.
adobbing: So to get the “in specie” Zinnwald, I have to wait for Gangfeng to cough up? I thought so long as I held BCN at the point it becomes unconditional, I could then sell the BCN and the Zinnwald in specie would show up eventually?
farrugia: Yes, that the problem - how long will you wait? I've been waiting for long enough to unlock value here. I'm looking for the kind of movements of Eurasia Mining not a limbo scenario. Without that opportunistic bid and self-serving directors BCN's stock price could have been higher by now than current. Now BCN is faced with a hard ceiling not to mention that there are possible regulatory headwinds (will the Mexican government approve the deal) and country-risks (Mexico being a high-risk country).
bountyhunter: The only thing missed is that the deal is dependent on the Mexican authorities approval - not yet received, hence the risk premium - i.e. the Mexicans could block it, which is why I prefer a direct investment in ZNWD, especially at the current price. Re the BCN deal execution risk see post 5507 here and the details from the RNS concerning the prerequisite Mexican authorities approvals detailed below. From the BCN RNS.. - as certain of Bacanora's assets are held in and by Mexican corporate entities, the Offer is conditional upon obtaining unconditional approval from the Mexican Federal Economic Competition Commission (the "FECC") (the "Mexican Antitrust Clearance") ...the Offer will not become or be declared unconditional unless the following Conditions (as amended if appropriate) have been satisfied or, where relevant, waived: Mexican competition clearance 2.1 either (a) the deemed unconditional approval of the Offer by the FECC, or (b) the issuance by the FECC of a resolution granting unconditional approval of the Offer So as the BCN deal is not without noteworthy execution risk, buying BCN now and assuming the cash + the ZNWD distribution is all but guaranteed is not necessarily a wise move - hence the current price of BCN shares as the Mexican Government could block the BCN takeover by Ganfeng. So as always the current market valuation takes all factors into account.
jlondon: ---Day after takeover offer by Ganfeng-- Mexican govt silent. Mexican press silent and the chatter etc. No sound on Twitter from these corners vs previous. Why? The Mexican govt has asked how they intend to tackle the manufacturing of the clay ie the chemical processes etc. The Chief Geologist of Mexico said that no one has yet produced "commercial quantitites" of lithium from clay. Also, the govt asked the co if they require the army to be in the factory. PS said no as they will have their own guards. Why? The Mexican govt fears that the ma fia will want to be in the mix for the lithium etc. So, there is what is commonly known as "execution risk" as norm in mining projects of a general nature but in this case, one of chemistry as well. Hence, during this period, no other co has come forth to offer for BCN prior to yesterday*s offer, 25 Aug 2021. ZNWD Malik on Twitter under ZNWD said that on the takeover completed the institutions will also be holders of ZNWD given BCN holders on the record date will get the former. I posted yesterday who the institutions are. Malik posted the names of some of the institutions on Twitter. TAKEOVER The original offer of 67.5p has now been lifted to 73.6p per the articles, the difference comes from the free Zinnwald shares. So, the history is complete. From recall, the broker target was around the £1 mark which was also the offer REM plc made but was rejected at the time. Whilst the NPV for Sonora is US$1.25bn [PRE-TAX], BCN no longer owns 100% of the project but only 50% and a bit less as part of the project also involves REM Mexico Ltd who signed the agreement then under DL. It is still registered in the name REM Mexico Ltd. Also, no more sound of nat by the Mex govt given they are aware of the above as said. All public info. I posted yesterday that the deal is worth US$393m on the FX rate yesterday although FT gave it in £. So, that is the past, present and of the future, only time will tell. DYOR. Currently, the share price to buy is 66.99p @2:50pm, Thur, 26 Aug 2021. Thur 26 Aug 2021.
jlondon: "China*s biggest lithium group secures deal for UK-listed Bacanora Lithium."-Financial Times, 25 Aug 2021 "Ganfeng said it has secured a letter from Bacanora*s 2nd largest shareholder, M & G which owns 14% of the co. Ganfeng which needs -------50%-----of shareholders to support the deal, already owns 29% of Bacanora." Premium rises to 63% with the additional shares in Zinnwald. Values BCN at £284.8 Million. == Comment: To read the full article, call up the title as above to check.On another BCN forum, it was posted: "but a majority of shareholders, regardless of how much they own, must also approve it." 7:05pm, 25 Aug 2021 post. Not sure how this came about as the poster thinks even buying "10 shares" would help? Today, exchange rate is £1=US$1.38. So £284.8m = US$393 million.
jlondon: BCN shareholders: Ganfeng 28.9% M & G 13.7% HL 5.3% Robeco Asset Mgm 4.24% Hanwa 3.21% HL Asset Mgm 2.76% Credit Agricole 2.11% Igneous Capital 1.81% Henderson Global Inv 1.8% Northern Trust Global Inv 1.67% Source: Market Screener, Wed 25 Aug 2021. == "Bacanora Lithium shares rise after agreeing to sweetened offer from Ganfeng."-Market Watch Ganfeng increased its offer to -----73.6p---- in cash & Zinnwald shares [cash 67.5p] +0.23589 Zinnwald shares for each BCN share. "Ganfeng has received commitments to ACCEPT the offer from the M & G recovery fund which controls around 13.7% BCN shares." Ganfeng first invested in BCN in 2019 and ----"currently OWNS 50% of the Sonora Lithium project in Mexico------operated by BCN." Comment: On another forum today, 25 Aug 2021, it was quoted that Sonora Lithium*s NPV is US$1.25 billion. This figure was from the 2018 Scoping Study which is PRE-TAX for 100% share. BCN no longer owns 100% of Sonora Lithium project as above?
jaf111: BCN price still rather cheap with ZNWD shares added in....
steeplejack: BCN shareholders will receive the shares which the company holds in Zinnwald.Ganfeng will receives shares in Zinnwald in respect of their holding in BCN.These are not new shares in Zinnwald.
lazygun: Heh, maybe bcn shareholders should buy loads of zinnwald, hope it drives up price of zinnwald, thereby hopefully increasing value of bcn’s stake in it, thus adding to bcn’s own nav..... so it makes for a stronger case for the bcn offer to be upped.... (entirely tongue in cheek of course).... L
dodger777: One concern here. If the offer is rejected the share price will drop back that’s expected..but won’t then Gangfeng, unless they decided to increase their offer, then sell up and move on ? That would seriously hammer the share price.
Bacanora Lithium share price data is direct from the London Stock Exchange
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