ybhere
24 Aug 2017
Auroch Tisova Project Nearly overlooked this News today, re the Tisova Project. Looking good.Commenting, Kiran Morzaria, Chief Executive Officer of Cadence, said: "It is great to see such encouraging initial results from the Tisová project. The dump sampling has encountered economic grades of Cobalt, which along with the polymetallic nature of the mineralisation in the samples make for a highly prospective exploration target." "With Auroch scheduled to start drilling this September and initial geological interpretation work indicating an ore body of substantial tonnage, we look forward to the news flow and results over the coming months."YB
ybhere
24 Aug 2017
Re: BCN Sonora update Morning TP,Makes me wonder if the BCN RNS has been put out in an effort to influence the negotiations and settlement price. Perhaps they are not very keen on the proposed deal.I did however like the last para of the BCN RNS:- Other Lithium Market DevelopmentsIn addition to the continuing development of its own projects, Bacanora also takes note of other significant developments within the lithium industry that have the potential to have a positive impact on Bacanora's projects and future operations, including the following:· Volkswagen stating that 25% of their vehicle sales by 2025 will comprise electric vehicles, requiring in the order of 200GW of energy, equivalent to 30 Nevada size giga factories.[2]· Volvo announcing that it will move to total electric vehicle production by 2019.[3]· The launch of the Tesla Model 3.[4]· France and the UK stating that all vehicles will be zero emission by 2040.[5]· Lyft, a ride sharing company in the USA, stating that it expects to be providing 1 billion automated electric vehicle car rides per year by 2025.[6]· In China, domestic automakers only have 43 percent of market share in the world's largest auto market, but they have a 96 percent stranglehold on the EV market and it has been estimated that 49 of 103 new EV launches by 2020 will come out of China. In addition, it has also been reported that China is targeting to have 65 percent of the world's manufacturing capacity for lithium-ion batteries by 2021.[7]Regards,YB
theprior
24 Aug 2017
BCN Sonora update Infrastructure progressing, as is FS.Hope KDNC hasn't agreed sales terms before this came out, as this will certainly up the ante !I assume the individual stakes in the different projects remain the same despite shares in the main company being divested.TP
theprior
22 Aug 2017
Bloomberg on Lithium [link] read.BCN, et al need to get digging to take advantage....before someone invents an alternative.TP
Bluemogganer
21 Aug 2017
Re: The Re: 2xRNS's today This may make some Cadence shareholders decide to jettison some of their holding in favour of BCN - worth thinking about perhaps...
Average_Dave
21 Aug 2017
Re: The Re: 2xRNS's today from the RNS it looks like more than a few. Can't tell why the RNS had an upbeat tone though (operationally easier to deal with one buyer?) as the value for BCN would likely be at market rate since the share is traded on an exchange. Any profit from BCN sale would already be reflected in KDNC's price (assuming no premium to market paid).Agree with Blue, this is a real shame but there will be less debt (assuming they use it to pay off the debt) on the balance sheet (until the next round of funding?).
theprior
21 Aug 2017
Re: Sorry, Three (3) Re: 2xRNS's today McArthur
theprior
21 Aug 2017
The Re: 2xRNS's today Thanks Dave,So, maybe selling a few BCNs rather than issuing more shares ?Well, after all, that's what investment companies are about isn't it? Buying assets cheaply then selling for a profit later !But it's a shame this sale couldn't have been delayed till the BCN stake was worth a whole lot more.TP
Average_Dave
21 Aug 2017
Re: 2xRNS's today hmmm. Just looks like a regular convertible loan note. Given that the anniversary of 6th Aug has passed and the Note has not been converted (no RNS unless I missed something) it appears the debt has to be repaid. On the balance sheet it is classed as Current Liability (due within 1 year from the balance sheet date - in this case Dec 16).Perhaps we will find out at the AGM on the 29th?A_D
theprior
21 Aug 2017
Re: 2xRNS's today Note 12 to Financial Statement in 2016 Annual report is perhaps relevant to this conversation. But to say the loan is due this month perhaps over simplifies the situation.[link] those more familiar with this type of instrument could expand.TP
Bluemogganer
21 Aug 2017
Re: 2xRNS's today Sounds a possibility Prior but sad to sell the family jewels. Still, the SP is looking a tad healthier today.
theprior
21 Aug 2017
Re: 2xRNS's today Hi, all. This Courtesy of "PaulieFXR" on Twitter...."That's one way to settle the £10m of debt due this month"Just found it so unsure of exact context. Need a bit more research.TP
ybhere
21 Aug 2017
Re: 2xRNS's today Morning Blue,Anything would be pure guesswork. The 'Investor' is only interested in Bacanora. Bacanora has the two projects, the Mexican Sonora Project and the Zinwald Mine in Germany which is just across the border from the Cinovec mine.Zinwald and Cinovec are within close proximity to the new Daimler GigaFactory in Kamenz and the VW 'Transparent Glass' Car Factory in Dresden.We'll have to wait a couple of weeks to see who the interested Party is, but whoever the Investor is, they have seen and recognised the potential of Bacanora..YB.
Bluemogganer
21 Aug 2017
Re: 2xRNS's today Yes, I thought it strange to sell some BCN which is the company most likely to be first to show a return from production. I think the increase in SP is more due to the other RNS and find the BCN sale a little worrying -- is Cadence running out of cash? Any idea folks?
ybhere
21 Aug 2017
Re: 2xRNS's today Morning TP,The 'Cleansing Statement' very interesting.During the course of these discussions, Cadence Minerals was approached by a single strategic investor group interested in taking a material portion of the total stake owned by the Company. Accordingly, Cadence has currently ceased its dialogue with institutional investors and now hopes to complete a partial sale over coming weeks led by this single investor group.Wonder who the single strategic investor is. Hanwa indicated several months ago that it would take up to 100% of the Lithium mined at Sonora. Possibly, just possibly, Hanwa perhaps wants a bit more control. Pure guess of course. The SP up by 20% already. YB
