Bacanora Lithium PLC - developer of Sonora lithium project in Mexico - Proposed capital reduction has been approved by the High Court, as well as RK Mine Finance Bermuda 3 Ltd under the terms of Bacanora's USD150 million senior debt facility.
At the Sonora project, earthworks surveys and geotechnical testwork are ongoing in the plant site area where surface vegetation and topsoil were removed. In addition, company has acquired an additional 500 hectares of land at the eastern end of the plant site location.
As a result of the Covid travel restrictions, earthworks engineering that had been rescheduled will now start in December, with civil and concrete works scheduled for the first and second quarter of 2022.
Current stock price: 67.00 pence
Year-to-date change: up 4.7%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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