There has been quite a bit of volume the last few days, I'll...

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Limitless

96 Posts.

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22/08/19

14:43

Post #: 40099090
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Originally posted by Schmucky: ↑

Not entirely relevant but worth considering for anyone unfamiliar with the approvals required. This at least shows that there isn't a blanket ban on grant of approvals and appears the timeframe provided appears reasonable. Would be nice for the board to advise which approvals are still outstanding.

Bacanora Lithium (BCN) Update on Strategic Investment by Ganfeng Lithium.

"As announced on 28 June 2019, the Agreements have been submitted to the relevant authorities in China for approval and completion.The first of the approvals from the PRC Ministry of Commerce (MOFCOM) was received by Ganfeng at the end of July 2019, and Bacanora has now been informed that the second approval has been processed by NDRC (National Development and Reform Commission) and received by Ganfeng. It is anticipated that the final approval from SAFE (State Administration of Foreign Exchange) will be received following a Ganfeng board meeting to be held in the coming weeks. Bacanora will provide further updates once final approval is received."

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There has been quite a bit of volume the last few days, I'll admit that. But for every seller there is a buyer, and buyers have been happy to take up close to a $1M in stock. Parcels have been large too. Even if it is delayed, we've been granted a good faith loan of $2M to continue BAU, exploration efforts etc. With the Cobalt price set to continue to improve off the back of Ivanhoe's shut down and demand increasing, fundementals are only set to improve. IMO. Goodluck.

Last edited by Limitless: 22/08/19

NZC Price at posting: 30.0¢ Sentiment: Buy Disclosure: Held
3 Upvote

2 Great analysis

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