Re: Bangchak
in response to
by
posted on
Nov 12, 2020 03:28PM
trades82: "Any sense of why?"
I don't have any idea either. Want to put this out there though:
Previously, Pavel pointed out that Ganfeng and Bangchak owned 30% of LAC shares. We don't know, but perhaps this could be probematic for LAC in getting final permits for Thacker Pass, since China is not allowed to own strategic resources in the US (or maybe in this case greater than a specific % share?).
I believe both Ganfeng and Bangchak have offload agreements with LAC/Minera Exar regarding the Argentina resource, and it would stand to reason that they would like even more interest in that resource. Refer to the following Aug. 2019 press release:
Could it be that LAC worked out a deal with Ganfeng and Banchak for the outstanding interest in Cauchari-Olaroz and that part of the deal involved a commitment for Banchak (and maybe Ganfeng too) to sell off a certain percentage (or all) of their LAC shares? This would give LAC funds for developing Thacker pass, and would also remove problematic Chinese interest in that project.
I know this is totally speculative, but it's plausible, right? If I'm right, it may actually be good news that Banchak is currently selling LAC shares. B-O-M