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Bacanora appoints Strauss to board

Tuesday, October 18, 2016 11:05
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Dual-listed lithium project developer Bacanora Minerals Ltd. (LON:BCN, CVE:BCN) shares rose nearly 7% on Tuesday after the company appointed Jamie Strauss as a non-executive director.

Bacanora is currently working towards completion of a Feasibility Study at its Sonora Lithium Project in Mexico (Sonora), in tandem with advancing offtake discussions with potential Asian and other international partners as part of a wider project finance strategy.

Having raised in excess of $1bn in recent years for natural resource projects spanning the globe, Strauss’ proven ability to engage with institutions in North America, Australia and Europe to secure funding will be highly valuable to Bacanora in this process.

Strauss is the founding partner of Strauss Partners Ltd. He has worked as a stockbroker in the City of London for over 25 years, specialising in the natural resources sector for nearly 20 of these. He was previously Managing Director of UK Equity product at BMO Capital Markets, prior to which he was a director of Hargreave Hale Ltd. where he founded, developed and then sold a Mining institutional sales and research department. Jamie started his career in 1986 at Strauss Turnbull (subsequently bought by Societe Generale). Jamie has experience in sales, research, transaction structuring, IPOs and syndication. He is a Non-Executive director of Altius Minerals and Gold Standard Ventures. He was on the board of Extorre Gold Mines until its successful sale to Yamana in 2012. He is also a trustee of The Julian Baring Scholarship Fund.

“Sonora has already proved itself to be attractive to institutional investors and we believe that Jamie will be invaluable in helping us to strengthen our relationships with additional investors of this kind as we look ahead to the next stages of developing our lithium carbonate operation in Mexico,” said Bacanora interim Non-Executive Chairman James Leahy.

“Given his background and network, we view his decision to join the Board as an endorsement of our vision to capitalise on the attractive economics presented by developing a 35,000 tonne per annum lithium carbonate operation with mine life of over 20 years. We believe his experience will blend well with the operational experience we boast from our management team,” he added.

Bacanora’s Canadian shares were 6.7% higher at C$1.44 on Tuesday.

Story by ProactiveInvestors


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