REM 30% STAKE IN SONORA LITHIUM, RANKED NO 1 IN THE WORLD.27 Mar 2021 12:14
***SONORA LITHIUM LTD [Bacanora & Ganfeng Revised JV]-26.2.21***
"As of 26 Feb 2021, Ganfeng completed its option to INCREASE its stake in SONORA LITHIUM LTD [SLL] from 22.5% TO 50%. On completion of the transaction, a revised JV agreement came into force whereby each party is responsible for their portion of project CAPEX."
https://seekingalpha.com/article/4416237-lithium-junior-mining-news-for-month-of-march-2021 22 hrs ago, Sat, 27 Mar 2021
---
***SONORA LITHIUM LTD [SLL]- Prior to the Revised JV as above.*****
"is the operational HOLDING co for SONORA Lithium Project and owns 100% of Ventana Concession -88% of mined ore feed Feasibility Study, 19 yrs."
"10 mining concessions areas covering 100,000 hectares in Sonora, Mexico. 7 of these mining concessions are included in SONORA Feasibility Study 2018."
https://www.bacanoralithium.com/projects/sonora-lithium/
<><>" Sonora Lithium Ltd ALSO OWNS 70% OF EL SAUZ & FLEUR which are held by Mexalit SA de CV." <><>
POST REVISED GANFENG & BCN JOINT VENTURE, 26 FEB 2021
The 70% of El Sauz & Fleur previously owned by Bacanora Lithium [BCN] has by extension of the revised JV means that BCN NO LONGER OWNS 70% but 35% and Ganfeng 35%. Why? Ganfeng now owns 50% of Sonora Lithium Ltd [SLL].
---EFFECTIVELY, REM OWNS 30% OF MEXALIT, SONORA-----
BCN OWNS 35% OF MEXAILIT, SONORA
GANFENG OWNS 35% OF MEXALIT, SONORA
[Stage 1 production Sonora Lithium, Mexico is forecast to start production 2023 with Ganfeng -BCN JV at VENTANA, Sonora - 88% of mine feed, 19 yrs].
========REM OWNS 30%, SONORA [not Ventana 88%]==========
REM plc is used as that is in the original agreement with DL Chairman signing the agreement for REM. In Bacanora*s presentation, the map [50 years shaded part of Mexalit + unshaded part] lists BCN-REM. So, that is official . Per Observer842, REM*s 30% stake is held still currently by REM MEXICO?
--***SONORA LITHIUM, MEXICO : RANKED NO 1 IN THE WORLD--****
"243.8Mt." BCN*s presentation said 250 years of potential mine life.
BCN Mkt Cap £138m @42p. KDNC [New name for REM], Mkt Cap £28m @19p.
No 2 ranked: Thacker Pass, USA
46 yr mine life
Owned 100% by Lithium Americas, Mkt Cap: $2bn+ [also owns Cauhari JV 49%]
https://www.mining-technology.com/features/top-ten-lithium-mines/ 30.8.2019
---
Why post the above? Folks can say, we knew all this? Folks may not have realised that post revised SLL JV BCN-Ganfeng, 50% 50%, it means that GANFENG ALSO OWN 50% OF SLL, THE HOLDING CO FOR ALSO MEXALIT and therefore BCN*s holding of previous 70% as above is NOW 35%.
HENCE, REM*s [renamed Cadence Minerals, KDNC] 30% vs 35% BCN & 35 % GANFENG [previous 70% BCN].
SONORA LITHIUM IS NOW IN THE NEWS IN MEXICO [not just Ventana].
-Folks now know its is the LARGEST lithium in the world.
Head of State, Mexico talking about Mexican lithium and SONORA lithium mentioned in the news on 25.3.21 [Reuters].
Posting to add to Ivybush*s post below abou