Bacanora Lithium Plc is an AIM-listed (ticker ‘BCN’) lithium development company. The Company is focused on building, in collaboration with its major shareholder and offtake partner, Ganfeng Lithium (the world’s largest lithium metals producer), a 35,000 tonne per annum open pit lithium carbonate operation at its flagship asset, the Sonora Lithium Project in Mexico. The Sonora Lithium Project has 8.8 million tonnes of lithium carbonate (Li2CO3) equivalent resources, with an approximate 250-year resource life, as detailed in its December 2017 Feasibility Study.
Sonora Lithium Ltd (“SLL”) is the operational holding company for the Sonora Lithium Project and owns 100% of the La Ventana concession. The La Ventana concession accounts for 88% of the mined ore feed in the Sonora Feasibility Study which covers the initial 19 years of the project mine life. On completion of this option exercise, SLL will be owned 50% by Bacanora and 50% by Ganfeng Lithium Co., Ltd. SLL also owns 70% of the El Sauz and Fleur concessions.
Mark Hohnen (Chairman)
Experience in the Japanese, Chinese and Korean markets. Director of Pensana Rare Earths Plc, the ASX and LSE listed rare earth metals explorer. Formerly NE Chair of BOSS Resources Ltd & Dir of Salt Lake Potash Ltd.
Peter Secker (CEO)
35 yrs resources experience. CEO of several PLC’s in Canada, UK and Australia. He is Bacanora appointee to the Board of Zinnwald Lithium Plc.
NED’s: Eileen Carr, James Strauss, Dr Andres Antonius, Junichi Tomono, Wang Xiaoshen, Graeme Purdy
Commencement of early site works at Sonora Lithium Project Bacanora Lithium plc (AIM: BCN), a lithium development company, is pleased …
Bacanora Lithium plc (AIM: BCN), a lithium development company, announces the successful placing of new ordinary shares of £0.10 each …
Bacanora Lithium plc (AIM:BCN), a lithium development company, is pleased to announce a retail offer for subscription via PrimaryBid of …
Proposed fundraise of approximately US$60 million to fully-fund the construction of Stage 1 of the Sonora Lithium Project in Mexico …
Ganfeng signs new Joint Venture Agreement following the exercise of its option to increase investment in Sonora Lithium Ltd (“SLL”) …
| P&L | 31 Dec 2019 US$~000 | 31 June 2018 US$~000 |
|---|---|---|
| Revenue | - | - |
| General Administration | (2,763) | (7,041) |
| Operating Loss | (3,173) | (7,988) |
| Loss After Tax | (4,946) | (11.054) |
| Balance Sheet | 31 Dec 2019 US$~000 | 31 June 2018 US$~000 |
|---|---|---|
| Cash & Cash Equivalents | 48,904 | 14,764 |
| Property Plant & Equipment | 30,444 | 29,806 |
| Borrowings | (24,052) | (21,622) |
| Total Assets | 91,205 | 57,039 |
Directors
Other
Mining.com (Feb 2021): “Lithium price in China surges 40% to 18-month high”
Lithium prices are soaring in China on the back of heavy demand for lithium iron phosphate (LFP) batteries, a new report by battery supply chain research and price reporting agency Benchmark Mineral Intelligence shows.
“Global sales of electric vehicles (EVs) have slowly been taking off in recent years. While there were only around 17,000 electric cars on the world’s roads in 2010, this had swelled to more than 10m last year. Further momentum is likely to come as governments get more serious about tackling climate change. As they look to decarbonise road transportation, there has been a policy shift away from internal combustion engine (ICE) vehicles towards encouraging people to switch to EVs…”
“…lithium-based batteries seem certain to be a major part of the solution and companies producing the metal such as Bacanora Lithium stand to be major beneficiaries. The AIM-listed group is developing the Sonora deposit in Mexico and it reckons it is one of the most prospective lithium projects around anywhere.”
VSA Capital (Feb 2020)
“We have been convinced since our site visit to Sonora in late 2018 that BCN would be successful in securing project funding despite the challenges the company faced at the time. Now comes the execution phase and we are confident that the management team with its extensive experience of lithium mining and processing combined with that of industry leader Ganfeng will be able to successfully bring Sonora into production in 2023.”
