Investors’ Chronicle, 17 Dec 2021, Bacanora deal gets Mexican backing

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Investor’s Chronicle quoted ShareSoc director Cliff Weight in an article about Bacanora.

ShareSoc has provided strong opposition to the deal: Cliff Weight from the group said it was incomprehensible why major shareholders like M&G would irrevocably support a deal that didn’t have a final offer stamp on it.

In another letter to the Bacanora board last month, ShareSoc asked the board to “negotiate a better offer”, given investors had kicked in $65m in a capital raise earlier this year and strong lithium prices meant the Sonora project’s net present value had climbed even in recent months. Bacanora’s share price climbed 8 per cent on the news, to 68p.