Bacanora Lithium Share Discussion Threads

[pugugly] 19/7/2018 13:03

Very foolish (imo) to move from Candian listing to UK - Red flag (imo) against financial management - TSXV normally gives higher valuations for commodity stocks.

[steeplejack] 19/7/2018 12:44

It's very sobering.What's the point of a listing if the equity fund raising market is in a state of partial paralysis.Its not just going to be pertinent to BCN,there must be junior explorers aplenty who are very concerned at the decision to pull this placing.

[ifthecapfits] 19/7/2018 09:52

I suppose it can be seen as a positive in that they are not prepared to sell existing shareholders down the river - or is that too positive a spin?

[pugugly] 19/7/2018 07:55

No suckers caught -!!!!

I wonder at what level those who might have been interested were prepared to invest?

Looks as though I may have been wearing the rosse tinted glasses wen suggesting between 60p & 65p

Musk seems to have succeeded in sucking in masses of cash to lithium exploration and development and will now be squeezing the price of lithium DOWN DOWN AND DOWN. (IMO)

[temmujin] 19/7/2018 07:43

so how much has price of lithium gone down of late? too much of it about and technology for electric cars could change...very risky business

[pugugly] 17/7/2018 17:50

SS. Please you appear never to have worked in the city - Read between the lines - Pre-selected means we have a very long list of potential suckers and we will work down the list until we have filled. UHNWI's will (or should) be able to access throught their PIC's - OK private share holders not wanted as too expensive to have open offer or rights issue
Read the rns again there are 3 placing agents WH Ireland Limited, Ashanti Capital and Steubing AG not just Canaccord ringing around a few "selected" institutions.

[dplewis1] 17/7/2018 17:36

Just to add my two penneth I've worked on the primary side at an investment bank and have seen Asian outfits flake out like that before, so I don't think that was necessarily reflective of Bacanora. While the hunt for yield has driven down margins on project finance deals to around L+150/200 this is a junior miner so I don't think 8% was the worst deal, especially for a bilateral.

[simonsaid1] 17/7/2018 17:26

'Punting this wherever they can' - did you actually read the RNS? A single bookrunner, no public access and pre-selected institutions, with no prospectus issued. This is all clearly prearranged. They won't just take the lowest number that panic sells force the shares to.

[pugugly] 17/7/2018 17:16

SS- Please get real - The book runners will be punting this whereever they can and II's will be forcing the strike price down as far as they can - Have you ever worked in the City?

Declaration: Sold well above £1.25 and was looking for a re-entry point but avoiding at this stage.

The writing was on the wall when the Chinese pulled out and they were not able to raise their loan funding at a realistic interest rate.

[simonsaid1] 17/7/2018 16:46

Absolutely based on nothing 'pugugly'. This placing is a closed-book offering to specific invited investors. PI's have no special knowledge and are just defensively selling till they find out what the reality is. The company won't just choose the lowest number from the panic sell after the announcement and ship off half the company at that rate.

No idea what the point of your post actually was. How does trolling here make you money exactly?

[pugugly] 17/7/2018 16:30

Placing now looking more like 60p Quote at time of posting 65/66. Mr Market usually gets closer to the feal facts - leaks - leaks and more leaks - OK say between 60 & 65 but probably closer to 60p

[cyfalafwr] 17/7/2018 10:41

When you invest in companies like BCN you have to accept this, otherwise stick to blue chip companies. The option is owning a big chunk of a company going nowhere or a smaller chunk of a company going somewhere.

[steeplejack] 17/7/2018 10:05

Looks like a placing price of around 70p.A tad disappointing but in reality this fund raising is increasing the equity by around 50%,it's effectively like a 1 for 2.

[ifthecapfits] 16/7/2018 21:22

Daylight robbery if they do.

[bsg] 16/7/2018 19:03

50p with loads of warrants as sweeteners.

[alexios1201] 16/7/2018 17:25

50p placing?

[temmujin] 16/7/2018 16:25

been told 50p..gone short

[pugugly] 16/7/2018 15:52

Guesses as to placing price - To open the bidding suggest 70p - Nice round figure!
Might even be 60p - Just to keep headline of this thread honest but unlikely (imo)

[pugugly] 16/7/2018 15:36

Guesses as to placing price - To open the bidding suggest 70p - Nice round figure!

[cyfalafwr] 16/7/2018 15:29

The nature of the beast to move forward is always dilution

Footnote: Why the need to copy paste RNS into this thread when we can see it with a click of the mouse at the top of the page ?

[ifthecapfits] 16/7/2018 14:15

Thanks SJ!

Good that they are getting the thing built though.

[steeplejack] 16/7/2018 14:02

The book build process will determine the placing price.Institutions will be approached to signal their interest.

The placing price will be determined by the level of interest.The higher the interest the smaller the discount to the current share price.
Subsequently,existing holders will be offered stock at the determined placing price in an open offer.