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2/27/18

Bacanora (BCN.v), NextView and Lithium X (LIX.v)

Your humble scribe's attention is caught by this news release from Bacanora Minerals (BCN.v) this evening, in which this company dedicated to lithium states that it has failed to receive the C$53.5m approx promised to it by NextView Capital. The deal, first announced in mid-December 2017, was supposed to have closed at the end of January. When it didn't BCN announced that it was giving NextView more time and stated among other things that... "...both parties remain committed to proceeding with the Placing."

But now it looks like NextView couldn't come up with the cash. Time's up. Deal's off. No soup for you. Now, does that remind you of anything? Well...
  • Lithium X (LIX.v) is a lithium junior
  • In mid-December it received a buyout offer from a company called NextView Capital, ticket price C$265m.
  • Yes, that's the same NextView Capital, why did you ask?
  • The deal was supposed to have closed a couple of weeks ago, but then on February 14th LIX.v announced that NextView needed more time. To quote that NR, "NextView has advised the Company that it is seeking alternative funding from a commercial lender in order to obtain the required funds on the most competitive terms available and that the proposed facility with the commercial lender is currently anticipated to be established and funded shortly but has been delayed by, and until after, the Chinese New Year holiday."

But hey, I'm sure everything will be all right. Y'know, just get the Chinese New Year out the way and the cheque will be winging its way over. Right?