March 2019 11:39
* Mine operator Bacanora Lithium surges as much as
40 pct to 24.5 pence
* Stock on track for best single-day gain since listing in July 2014* Co says it remains focused on securing full $460 mln funding for its Sonora Lithium Project in Mexico in Q2 2019...* BCNB says it is in ongoing talks with a number of potential cornerstone investors as part of the fundraising process* Bacanora said earlier this month that it owned 10 lithium concessions in Sonora and was focused on securing funding this year to start production in 2021* Separately, Southern Copper Corp , one of the world's biggest copper producers, said https://www.reuters.com/article/us-peru-southern-copper/southern-copper-eyes-lithium-project-in-mexico-ceo-idUSKCN1QU36X it is considering an investment in a lithium project in Mexico that has also attracted interest from a Chinese firm* It could not be confirmed if the Southern Copper is investing in Sonora project
(RM:
Mozax, this is a good post,
RE: Asset
Hangseng - at 25p our MCap is only £33M.
Take out the £15M in cash values Mexico (100% owned) & Germany (50% owned) at £18M.
Sonara alone has a NAV of $1.25Billion.
The funding unlocks the asset & The Market has been told that we are having a good old chat with some very big hitters.
The Omani Wealth fund is also involved having already plopped in $50M.
No Opinion
This Reuters and ft attracting alot of investors, there simply isn't enough liquidity, tommrrow we should be in 40s, and mind you this rise is nothing it's just going back up