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Discussion in 'Penny Stocks' started by Firemansam, Apr 9, 2016.
AND EVEN BETTER
EMH UP from 8p to 35p in 4 Months
AND EVEN BETTER
Well done REMMY on great investments and more to come.
nice and thanks to keep us update...
I'd recommend anyone investing in lithium to google and read Tony Seba. His presentations on disruptive technologies are fascinating and give a great insight into just how fast all our lives are going to change. The two slides that show the complete change between horse power and internal combustion in 13 years are a real eye opener for all watching the new power revolution. The 13yrs comes from a yoy growth of 42%... double every two years... once market penetration hits 1% and growth hits 42%... it's an unstoppable snowball... fuelled by zero margin cost comparisons to existing old soon to be redundant technology... i.e. making the change saves you money... this one saves the world answer
NOW, WHERE IS THE HORSE, ALL THIS HAPPENED IN 13 YEARS. WE ARE GOING THROUGH THE SAME REVOLUTION OS DISRUPTIVE TECHNOLOGY WITH ELECTRIC VEHICLES REPLACING INTERNAL COMBUSTION ENGINES. FOUND THE HORSE????? THERE IS ONE. FAR LEFT CENTRE AGAINST THE PAVEMENT (SIDEWALK)
I just saw this ... maybe you already know
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Watch LSE.Co.UK REM Monday morning.
Plenty in Sonora AND Cinovec. REMMY invested in both areas. DYOR
Well, things are hotting up. Go and read LSE. Co. UK REM board. Hostile takeover insinuations re BCN. BCN refuse, lots more to come this is getting exciting.
Sorry bit posted but busy again with personal matters, but you don't want to be out of this one, that's for sure, IMHO. Dyor
THIS ISN'T GO TO STOP HERE. WHO IS IN THE BACKGROUND, TESLA???
The Board of Bacanora ('Bacanora' or 'the Company'), the Toronto and London listed (TSX-V: BCN and AIM: BCN) company focused on developing the Sonora Project ('Sonora' or 'the Project') in Mexico into a world class lithium carbonate operation, announces that it has received an unsolicited non-binding indicative proposal ('the Proposal') from Rare Earth Minerals plc ('REM'), an AIM listed investment vehicle with a 19.8% holding in the Company. The Proposal envisages an all-share merger of Bacanora and REM with REM acting as the acquiring entity (via a reverse takeover) and issuing newly issued REM shares to Bacanora's shareholders. The merger exchange ratio proposed by REM is between 135 and 141 REM shares for each outstanding Bacanora share ('the Proposed Offer'). The Board of Bacanora strongly rejects the Proposal believing it significantly undervalues the Company and jeopardises Sonora's development path to production.
Below, the Board summarises its view of the potential business combination and its rationale for rejecting the Proposed Offer:
· The midpoint of the Proposed Offer range represents a premium of only 13.1% to the Bacanora closing share price of 88.50 pence per share on 29 September 2016 (being the last trading date prior to this announcement);
· On a relative six month volume weighted average share price basis, the midpoint of the Proposed Offer range represents a discount of 0.7% as at 29 September 2016 (being the last trading date prior to this announcement);
o The Board notes that on 20 September 2016, REM acquired 4.5 million ordinary shares from a large existing shareholder in cash at a price of 100p per share; in contrast the Proposed Offer envisages the settlement to be satisfied wholly through the issue of new shares in REM
· The Proposed Offer would result in dilution to the near term and life of mine cash flow for Bacanora's existing non-REM shareholders given that 83.6% of the Sonora plant feed is expected to originate from Bacanora's 100% owned La Ventana concession over the current 21 year life of mine, as stated in the Preliminary Feasibility Study ('PFS') announced on 3 March 2016;
· Bacanora's team has already delivered on key milestones at Sonora as it focuses on delivering the world's next major lithium mine, having:
o Defined a high grade, large scale resource;
o Produced battery grade lithium carbonate at its wholly owned pilot plant which is now running continuously;
o Completed the PFS which demonstrates the attractive economics of Sonora and remains on track to deliver a fully funded BFS in Q1 2017; and
o Introduced two well-known institutional shareholders to the register which signifies the attractiveness of Sonora and the market's confidence in the Board and management team to deliver on the Project;
· The Bacanora team continues to work towards delivering critical near-term milestones that are expected to be highly value-accretive to Bacanora.
In addition, the Board believes that:
· Bacanora's Board and management have substantial experience in arranging financing, developing and operating mining projects and have the necessary capabilities to deliver the Sonora project;
· REM's portfolio of early stage projects, mostly in the form of non-controlling equity interests, is likely to dilute Bacanora's investment case and create a less transparent investment proposition; and
· REM's limited financial resources are not likely to assist the Sonora Project's funding requirements.
The Board also notes REM's vote against the proposed re-domicile of Bacanora to the UK, which is widely viewed to be in the best interest of all the Company's shareholders, at the General Meeting held on 28 September 2016.
Bacanora interim Non-Executive Chairman James Leahy said, "The Proposed Offer is opportunistic and materially undervalues Sonora. The Bacanora team has made excellent progress in successfully de-risking and advancing Sonora, and at the same time has successfully raised capital from blue chip institutions, who are fully supportive of progress made to date and management's ability to deliver Sonora as the world's next major lithium mine. In our view, as well as undervaluing the Company, the Proposed Offer has the potential to impede the project's development going forward."
Macquarie Capital (Europe) Limited is acting as Financial Adviser to Bacanora with respect to the proposal from REM.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
The times they are a changin, REM sure Remmy is looking to takeover EMH and BCN and become the BIGGEST Lithium supplier world wide IMHO DYOR
WATCH THIS SPACE
Well after all this time, we have returned and are giving a live presentation on Deutche Bank (link above in 50 minutes) register and login and listen and ask questions.
Oh Happy New Year by the way and sorry for the absence
One of REMMY's (now Cadence Minerals PLC- KDNCY ON OTC market) investments. OFFTAKE Agreement for 70-100% of production. Fantastic news.
Aim-listed lithium developer Bacanora Minerals has agreed a long-term supply agreement with Japan’s Hanwa Corporation that will see the Tokyo-based trader buy up to 100 per cent of the company’s processed output from its planned mine in Mexico.
Hanwa, a big steel trader with a growing lithium business, is expected to make an initial 10 per cent equity investment in Bacanora in coming weeks, adding to an investor base that already includes BlackRock that has a near 11 per cent stake in the company.
Growing demand for lithium, which is used in batteries for electric cars, has boosted interest in mining developments as prices of the raw fuel have risen.
Bacanora plans to complete a feasibility study on its Sonora lithium deposit in Mexico in mid-2017. It said that the capital expenditure bill for developing the deposit was expected to be at least $250m to be financed by a combination of debt, project financing and equity.
That companies such as Hanwa are prepared to sign so-called offtake deals with developers long before production begins highlights how lithium has captured the mining and trading industries’ imagination.
Prices of lithium carbonate, or the processed ore, have roughly doubled since 2015, according to analysts at investment bank Liberum. Some fear, however, that a speculative bubble could potentially form in the key battery material, with more small-cap miners turning their attention to deposits.
Bacanora, which does not yet have any revenues, has attracted big-name backers on top of BlackRock and has a £91m market capitalisation. M&G Investments owns just under 8 per cent.
Cadence Minerals, chaired until 2015 by the colourful David Lenigas of “Gatwick Gusher” fame, is still the mine developer’s biggest investor with about 19 per cent of the shares and a claim on the some of the licences.
The company says the Sonora deposit could produce as much as 35,000 tonnes of lithium carbonate annually by between 2021 and 2022 or potentially more than 10 per cent of forecast world consumption.
Under the strategic partnership with Hanwa, the Japanese company will help secure debt financing for Sonora, as well as taking between 70 to 100 per cent of the lithium carbonate from the mine if it reaches production.
“This partnership with one of the world’s leading battery chemical traders is transformational for Bacanora,” said Mark Hohnen, Bacanora’s chairman. “It significantly reduces the overall risk profile of the project.”
The deal for Hanwa to take a stake in the company should add more than £10m to Bacanora’s cash balances.
The company also owns a 50 per cent stake in the Zinnwald lithium deposit in Germany, where a feasibility study is also expected to start this year.
Hello Firemansam where are you? still with REMMY?
I came to England but I didn't see you