Bacanora Lithium shifts attention to construction as financing completes

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  • Bacanora Lithium receives formal takeover offer from Ganfeng Int’l
  • Bacanora Lithium ‘fully financed and ready to develop the Sonora mine project’ following fundraise
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Quick facts: Bacanora Lithium Ltd

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Bacanora Lithium is an AIM listed company focused on building a 35,000 tonne per annum open pit battery grade lithium operation, in collaboration with its major shareholder and offtake partner, Ganfeng Lithium (the world’s largest lithium metals producer).

The mine, the Sonora Lithium Project in Mexico, is one of the world’s larger lithium resources and benefits from being both high grade and scalable.

25 Aug 2021

Bacanora Lithium PLC has agreed terms of its takeover by major shareholder Ganfeng International following approval for the deal by the authorities in China.

As flagged when the original approach was made in May, Ganfeng is offering 67.5p cash for each Bacanora share.

Shareholders will also get 0.236 shares in Europe-based lithium group Zinnwald, worth 6.1p currently, to take the total value of the offer to 73.6p.

Bacanora’s independent directors intend to recommend unanimously that shareholders accept the offer, said the statement.

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24 Aug 2021

Bacanora Lithium PLC () said a court in Alberta, Canada has issued a judgement in favour of the Estate of Colin Orr-Ewing regarding the validity of a lithium royalty over the Sonora project.

AIM-listed Bacanora is challenging the validity of a previously reported 3% royalty over the MSB concessions within the Sonora lithium project, payable to the Orr-Ewing Estate, and was seeking to have the royalty declared invalid.

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22 Jun 2021

Bacanora Lithium PLC () said its stake in Zinnwald Lithium will slide to 35.5% from 44.2% as a result of Zinnwald’s buy-out of Deutsche Lithium.

Zinnwald is buying the 50% of Deutsche Lithium it does not already own. Bacanora will retain its right to appoint one director to the board of Zinnwald following the buy-out of Deutsche Lithium.

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09 Feb 2021

Bacanora Lithium’s () Peter Secker catches up with Proactive London’s Katie Pilbeam about their latest US$65m financing with Ganfeng Lithium exercising its pre-emptive rights.

The chinese giant has increased its position to 28.8% meaning that it remains BCN’s largest shareholder.

Secker says the company is now ‘fully financed and ready to develop the Sonora mine project in Mexico.

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Bacanora Lithium ‘fully financed and ready to develop the Sonora mine…

Bacanora Lithium’s (LON:BCN) Peter Secker catches up with Proactive London’s Katie Pilbeam about their latest US$65m financing with Ganfeng Lithium exercising its pre-emptive rights.

The chinese giant has increased its position to 28.8% meaning that it remains BCN’s largest…

on 9/2/21

3 min read

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