Rns12 Mar 2019 07:07
Statement re Share Price Movement
RNS Number : 5221S
Bacanora Lithium PLC
12 March 2019
Bacanora Lithium plc / Index: AIM / Epic: BCN / Sector: Natural Resources
12 March 2019
Bacanora Lithium plc ("Bacanora" or the "Company")
Statement re Share Price Movement
Bacanora Lithium plc (AIM: BCN), the London traded lithium company, notes its recent share price movement and confirms that there is no unpublished price sensitive information and that unsubstantiated social media speculation should be treated as such. Furthermore, the Company is not aware of any corporate developments that support such movement.
In line with previous announcements, the Company remains focused on completing its funding in Q2 2019 with a view to the commissioning of the chemical processing plant at its Sonora Lithium Project in Mexico and first production in H2 2021.
The Company will update the market with any new material information as appropriate.
**ENDS**
For further information, please contact:
Bacanora Lithium plc
Peter Secker, CEO
Janet Boyce, CFO
info@bacanoralithium.com
Cairn Financial Advisers LLP, Nomad
Sandy Jamieson / Liam Murray
+44 (0) 20 7213 0880
Citigroup Global Markets, Broker
Tom Reid / Patrick Evans / Matthew Kenney
+44 (0) 20 7986 4000
Canaccord Genuity, Broker
Martin Davison / James Asensio
+44 (0) 20 7523 8000
St Brides Partners, Financial PR Adviser
Frank Buhagiar / Gaby Jenner
+44 (0) 20 7236 1177
ABOUT BACANORA LITHIUM:
Bacanora owns ten mining concession areas covering approximately 100 thousand hectares in the northeast of Sonora State in Mexico. Seven of these ten mining concessions (the 'Sonora Lithium Project'1) were included in the Feasibility Study announced 12 December 2017. The Company, through drilling and exploration work to date, has established a Measured plus Indicated Mineral Resource estimate of over 5 Mt (comprising 1.9Mt of Measured Resources and 3.1Mt of Indicated Resources) of LCE2 and an additional Inferred Mineral Resource of 3.7 Mt of LCE. The Company's Feasibility Study has established Proven Mineral Reserves (in accordance with NI 43-101) of 1.67 Mt and Probable Mineral Reserves of 2.85 Mt LCE and confirmed the economics associated with becoming a 35,000 tpa lithium carbonate and 30,000 tpa SOP producer in Mexico. In addition to the Sonora Lithium Project, the Company also has a 50% interest in the Zinnwald Lithium Project and the Falkenhain Licence in southern Saxony, Germany. Each of the Zinnwald Lithium Project and the Falkenhain Licence are located in a granite hosted Sn/W/Li belt that has been mined historically for tin, tungsten and lithium at different times over the past 300 years. The strategic location of the Zinnwald Lithium Project and the Falkenhain Licence provides close geographical proximity to the German automotive and downstream lithium chemical industries.
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