Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Bacanora Minerals well cashed-up to complete feasibility study

Thursday, October 27, 2016 0:13
% of readers think this story is Fact. Add your two cents.

It’s been busy 12 months for Bacanora Minerals Ltd (LON:BCN), as chief executive Peter Secker has outlined in commentary attached to financial results for the year to 30 June.

“Bacanora continues to transition from an exploration company into a lithium development company,” he says.

There’s been board changes, new funding, a takeover offer – rejected – new resource drilling, preliminary marketing of battery-grade lithium from the Sonora project in Mexico, and a full-blown pre-feasibility study which put a 29% internal rate of return on the project and a net present value of US$776 mln.

A feasibility study is now underway, and the company has enough money in the bank to pay for that, for initial project development and for the start of construction.

“The feasibility study for the development of a two stage, 35,000 tonne per annum lithium carbonate producer is now underway and operations at the Hermosillo pilot plant have produced battery grade material for trials in the Asian market,” said Secker.

As at the end of June, the company had cash nearly US$29 mln.

The company also re-stated its regret at the passing of chairman Colin Orr-Ewing earlier in the year.

Story by ProactiveInvestors


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global

Top Alternative



Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.