15 Mar 2017 11:00
Bacanora Minerals Ltd
('Bacanora' or the 'Company')
Transaction Notification
In accordance with Article 19 of the Market Abuse Regulations, the Company announces a purchase by a Person Discharging Managerial Responsibility ("PDMRs").
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 | |||||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||||||||||
a. | Name | Mark Hohnen | |||||||||
2 | Reason for notification |
| |||||||||
a. | Position/Status | Executive Director/Chairman | |||||||||
b. | Initial notification/ Amendment | Initial Notification | |||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
a. | Name | Bacanora Minerals Ltd | |||||||||
b. | LEI | ||||||||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||||||
a. | Description of the financial instrument, type of instrumentIdentification Code | Common Shares of no par value ISIN: CA05634Q1054 | |||||||||
b. | Nature of the transaction | Market purchase | |||||||||
c. | Price(s) and volume(s) | ||||||||||
Price(s) | Volume(s) | Date | |||||||||
82p | 45,000 | 13.03.17 | |||||||||
82p | 25,000 | 13.03.17 | |||||||||
83p | 25,000 | 13.03.17 | |||||||||
83p | 25,000 | 13.03.17 | |||||||||
| |||||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
120,000
82.42p | |||||||||
e. | Date of the transaction | 13 March 2017 | |||||||||
f. | Place of the transaction | London Stock Exchange (XLON) | |||||||||
For further information, please contact:
Bacanora Minerals Ltd. | Peter Secker, CEO | info@bacanoraminerals.com |
Cairn Financial Advisers LLP, Nomad | Sandy Jamieson/Liam Murray
| +44 (0) 20 7213 0880 |
Numis Securities Ltd, Broker | John Prior/James Black/Paul Gillam | +44 (0) 20 7260 1000 |
St Brides Partners, Financial PR Adviser | Frank Buhagiar/ Elisabeth Cowell | +44 (0) 20 7236 1177 |
ABOUT BACANORA:
Bacanora is a Canadian and London listed lithium exploration and development company (TSX-V: BCN and AIM: BCN). The Company is exploring for, and developing a pipeline of international lithium projects, with a primary focus on the Sonora Lithium Project. The Company's operations are based in Hermosillo in northern Mexico. The Company is led by a team with lithium expertise and proven mine development, construction and operations experience.
The Sonora Lithium Project, which consists of ten mining concession areas covering approximately 100 thousand hectares in the northeast of Sonora State. The Company, through drilling and exploration work to date, has established an Indicated Mineral Resource (in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101")) of 4.5 million tonnes (LCE ) and 2.7 million tonnes Inferred. A Pre-Feasibility Study completed in Q1 2016 demonstrated the economics associated with becoming a 35,000 tpa lithium carbonate and 50,000 tpa SOP producer in Mexico.
In addition to the Sonora Lithium Project, the Company also has a 50% interest in the Zinnwald Lithium Project in southern Saxony, Germany. The Zinnwald Lithium Project is 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 allows immediate access to the German automotive and downstream lithium chemical industries.