Click here to read the article
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.