Bacanora Minerals Ltd Transaction Notification (5500Z)

TIDMBCN

RNS Number : 5500Z

Bacanora Minerals Ltd

15 March 2017

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/                     Initial Notification 
       Amendment 
----  ----------------------------  ----------  ----------------------------------- 
 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                               Common Shares of no par value 
        of the financial 
        instrument, 
        type of instrument                        ISIN: CA05634Q1054 
 
        Identification 
        Code 
----  ----------------------------  ----------  ----------------------------------- 
 b.    Nature of                                 Market purchase 
        the transaction 
----  ----------------------------  ----------  ----------------------------------- 
 
 c.    Price(s) and                   Price(s)   Volume(s)         Date 
        volume(s) 
----  ----------------------------   ---------  ----------------  -------------- 
                                      82p        45,000            13.03.17 
                                     ---------  ----------------  -------------- 
                                      82p        25,000            13.03.17 
                                     ---------  ----------------  -------------- 
                                      83p        25,000            13.03.17 
                                     ---------  ----------------  -------------- 
                                      83p        25,000            13.03.17 
                                     ---------  ----------------  -------------- 
 
       Aggregated 
        information 
 
        - Aggregated 
        Volume                                     120,000 
 
 d.     - Price                                    82.42p 
----  ----------------------------  ----------  ----------------------------------- 
 e.    Date of the                               13 March 2017 
        transaction 
----  ----------------------------  ----------  ----------------------------------- 
 f.    Place of the                              London Stock Exchange (XLON) 
        transaction 
----  ----------------------------  ----------  ----------------------------------- 
 
 

For further information, please contact:

 
 Bacanora Minerals      Peter Secker, CEO            [e-mail] 
  Ltd. 
---------------------  ---------------------------  -------------------------- 
 Cairn Financial 
  Advisers LLP,         Sandy Jamieson/Liam                         +44 (0) 20 
  Nomad                  Murray                                      7213 0880 
---------------------  ---------------------------  -------------------------- 
 Numis Securities 
  Ltd,                  John Prior/James                            +44 (0) 20 
  Broker                 Black/Paul Gillam                           7260 1000 
---------------------  ---------------------------  -------------------------- 
 St Brides Partners, 
  Financial PR          Frank Buhagiar/ Elisabeth                   +44 (0) 20 
  Adviser                Cowell                                      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.

This information is provided by RNS

The company news service from the London Stock Exchange

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March 15, 2017 07:00 ET (11:00 GMT)