Bacanora Lithium PLC - lithium owner explorer and majority owner of Sonora project, Mexico - Says Ganfeng Lithium Co Ltd exercises its pre-emptive right and boosts Bacanora stake. Ganfeng to subscribe for 53.3 million Bacanora shares at 45 pence each, USD31 million in total. "Completion of this investment from Ganfeng is conditional upon obtaining certain approvals and consents from authorities in the People's Republic of China," Bacanora adds. On completion, Ganfeng will hold just shy of a 29% stake.
Current stock price: 46.32 pence
Year-to-date change: down 28%
By Eric Cunha; ericcunha@alliancenews.com
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