RE: Who knows6 Mar 2019 06:34
"Peter Secker, CEO, of Bacanora Lithium, commented: "The common thread linking Hanwa, the Japanese battery metals trader; SGRF, the sovereign wealth fund of the Sultanate of Oman; RK Mine Finance, the debt provider; Citigroup and Canaccord, the global investment banks, is that they have all joined with Bacanora to assist in securing the funding package for a 35,000tpa lithium carbonate operation at our Sonora project.
"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. The Sonora Lithium Project hosts a large, open-pit, scalable resource, with a US$1.25billion project NPV and operating costs among the lowest in the industry and we believe that Sonora is ideally placed to become a major supplier of battery grade lithium for many years to come and in the process generate substantial returns for investors.
"The second half of this year will not just see us look to finalise the funding package for Sonora, but also complete the Feasibility Study for Zinnwald, our second lithium project. Over the course of the last six months, we have announced a resource upgrade and the successful production of battery-grade samples of lithium fluoride from Zinnwald concentrates. In tandem with the Feasibility Study, we are evaluating the possibility of listing our German subsidiary later this year as part of our efforts to fund the development of a lithium fluoride operation at Zinnwald. This is an exciting period for the Company, as we look to advance our portfolio of projects and in the process take a major step towards transforming Bacanora into a producer of high value lithium products."
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