Last checked at 20 Apr 2020 07:00
20 April 2020
Bacanora Lithium plc
("Bacanora" or the "Company")
Appointment of Non-Executive Director
Bacanora Lithium plc (AIM: BCN), a lithium exploration and development company, is pleased to announce that Mr. Graeme Purdy has been appointed as an independent Non-Executive Director of the Company with immediate effect. Graeme is the Chief Executive Officer of Ilika Plc (AIM: IKA) ("Ilika"), a solid-state lithium battery technology developer. He is a hands-on manager with over 25 years of global experience in the resources and battery industries.
Under Graeme's leadership, Ilika has grown to be one of the few independent global companies specialising in the design and manufacture of solid-state lithium ion batteries. As a result, Graeme is a recognised thought leader in the industry speaking regularly at trade and investor events. Of additional relevance to Bacanora's current activities, is Graeme's experience from his earlier international career with Shell, where he managed the design, construction and commissioning of large process engineering projects in remote locations, including Latin America. Graeme holds a Master's degree in Chemical Engineering from Cambridge and an MBA from INSEAD business school in France. He is a Chartered Engineer, a Fellow of the Institute of Chemical Engineers and a Sainsbury Management Fellow.
Mark Hohnen, Chairman of Bacanora, commented:
"I am delighted that Graeme Purdy has agreed to join the board of Bacanora. He brings with him a wealth of engineering and technical expertise from the battery industry, as well as experience in the UK capital markets via Ilika Plc. This appointment strengthens Bacanora's board further as the Company embarks on the next phase of its development, as it looks to finance and build its flagship asset, the Sonora Lithium Project, in Mexico."
Commenting on his appointment, Graeme Purdy said:
"I am pleased to be joining Bacanora's board at this exciting time for the Company as it develops into a world class lithium producer. I have been impressed by Bacanora's achievements, particularly more recently with the arrival of Ganfeng Lithium, the world's largest lithium metals producer, as a major shareholder and offtake partner, in conjunction with the Company's existing offtake partner Hanwa Corporation. I look forward to being part of the board and lending my support and expertise to further the Company's growth and ambitions."
The following information is disclosed in respect of Mr Purdy (age 54) pursuant to Schedule 2(g) of the AIM Rules for Companies:
Current Directorships | Directorships and partnerships held in the past five years |
Ilika Technologies Ltd | None |
Ilika Plc |
|
Mr. Graeme Purdy does not hold any ordinary shares nor options over ordinary shares in the Company.
There is no further information which is required to be disclosed under Schedule Two, paragraph (g) of the AIM Rules for Companies in respect of Mr. Graeme Purdy.
** ENDS **
For further information please visit www.bacanoralithium.com or contact:
Bacanora Lithium plc Peter Secker, CEO Janet Blas, CFO
| info@bacanoralithium.com |
Cairn Financial Advisers LLP, Nomad Sandy Jamieson / Liam Murray
| +44 (0) 20 7213 0880 |
Citigroup Global Markets, Joint Broker Tom Reid / Patrick Evans / Matthew Kenney
| +44 (0) 20 7986 4000 |
Canaccord Genuity, Joint Broker James Asensio / Edward Montgomery
| +44 (0) 20 7523 8000 |
Tavistock, Financial PR Adviser Jos Simson / Emily Moss / Oliver Lamb | Bacanora@tavistock.co.uk +44 (0) 20 7920 3150 +44 (0) 77 8855 4035 |
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014
Notes to editors
Bacanora Lithium Plc is an AIM-listed (ticker 'BCN') lithium development and exploration company. The Company owns assets in Mexico and Germany. It is focused on building, in collaboration with its major shareholder and offtake partner, Ganfeng Lithium (the world's largest lithium metals producer), a 35,000 tonne per annum open pit lithium carbonate operation at its flagship asset, the Sonora Lithium Project in Mexico. The Sonora Lithium Project has 8.8 million tonnes of lithium carbonate (Li2CO3) equivalent resources, with an approximate 250 year resource life, as detailed in its December 2017 Feasibility Study.
Sonora Lithium Ltd ("SLL") is the operational holding company for the Sonora Lithium Project and owns 100% of the La Ventana concession. The La Ventana concession accounts for 88% of the mined ore feed in the Sonora Feasibility Study which covers the initial 19 years of the project mine life. SLL is owned 77.5% by Bacanora and 22.5% by Ganfeng Lithium Ltd. SLL also owns 70% of the El Sauz and Fleur concessions.
In addition, the Company has a 50% interest in the Zinnwald Lithium Project and the Falkenhain and Altenberg Licences in southern Saxony, Germany.
Important notice
The contents of this announcement have been prepared by and are the sole responsibility of Bacanora.