RE: Morning All15 Mar 2019 08:25
"Sonora project in Mexico as it stated that Japanese battery metals trader Hanwa, SGRF, the sovereign wealth fund of the Sultanate of Oman, RK Mine Finance, Citigroup and Canaccord are working to assist in securing funding for a 35,000tpa lithium carbonate operation at the site.
Chief executive Peter Secker said: "For a junior resource company to have such a blue-chip roster of backers is a measure of the quality of the project, the favourable long-term fundamentals for the lithium market and the proven track record of the Bacanora team in terms of developing and delivering high quality lithium projects."
"The world needs lithium to power the electric vehicles we may one day all be driving and also to help store energy generated from renewable sources."
Meanwhile, its Zinnwald project in Germany will host a feasibility study in the second half of the year after the first production of lithium fluoride samples with over 99% purity from concentrates provided proof of concept that battery grade lithium products can be produced at the site.