Bacanora Lithium Share Discussion Threads

[igbertsponk] 13/12/2017 07:10

Superb news. Zoom today

[ifthecapfits] 04/12/2017 11:01

Drifting a bit in the absence of any 'real' news. Any views on the directorate change?

[ifthecapfits] 28/11/2017 16:33

RNS Number : 6565X

Bacanora Minerals Ltd

28 November 2017

28 November 2017

Bacanora Minerals Ltd

('Bacanora' or the 'Company')

1(st) Quarter Financial Statements

Bacanora, the London and Canadian listed (AIM: BCN and TSX-V: BCN) lithium and borates company focused on Mexico, is pleased to announce its unaudited condensed consolidated financial statements for the three-month period ended 30 September 2017, together with the accompanying notes.

QUARTERLY HIGHLIGHTS

Operational

Sonora Lithium Project ('Sonora' or 'the Project') in Mexico

-- Environmental Impact Statement, ('Manifestacion de Impacto Ambiental' or MIA'), for the construction of an open- pit mine and a large-scale beneficiation processing facility at the Company's flagship Sonora lithium project approved by SEMARNAT, the Environment Ministry of Mexico

-- Access and surface rights secured at Sonora following signing of binding agreements to acquire the freehold to two parcels of land covering mineral resources contained within the La Ventana, Fleur and El Sauz areas which, following completion of the Feasibility Study, will provide the Company with unrestricted access to develop the Project and operate it for the initial life of mine

-- Feasibility study activities continue at Sonora:
o Metallurgical test work is ongoing at the SGS Laboratories in Perth and Ausenco Engineers is currently completing the flow sheet design and mass balance to finalise operating and capital cost estimates

o Mine planning and equipment selection for the open pit mining operation is being carried out by IMC Mining Consultants in Tucson

o Ongoing optimisation of the hydrometallurgical circuit utilising recycled Na(2) SO(4) as a sulphate source

o Local infrastructure, energy and natural gas supplies and consumable chemicals for the Project continue to be a focus as a result of the previously reported increases in operating and capital costs for natural gas and chemical reagents

o The FS report, scheduled for later in 2017, will also include an updated Mineral Resource Estimate ("MRE") and geological model by SRK Consulting (UK) Limited based on the infill drilling programme which was completed in Q3 2016

-- The Company continues to operate its large scale lithium carbonate pilot plant in Hermosillo, Mexico currently focusing on:

o production of battery grade lithium carbonate samples for distribution to potential customers in Asia

o optimising the metallurgical flow sheet and ongoing FS testwork

o operator training in preparation for the construction of the large scale plant

Zinnwald Lithium Project ('Zinnwald') Germany

-- Jointly controlled entity, Deutsche Lithium GmbH ("Deutsche Lithium"), granted 30 year mining licence covering 256.5 hectares of the Zinnwald project by the Saxony State Mining Authority

-- Recent testwork on Zinnwald concentrates has shown that a number of downstream lithium products can be produced from the Zinnwald ores, utilising chemicals and infrastructure available in the Dresden area

-- As part of the ongoing development of Zinnwald, a Feasibility Study ("FS") is underway to develop a strategy to demonstrate the economic viability of producing higher value downstream lithium products for the European battery and automotive sectors and is expected to be completed in mid-2019

-- A resource infill drilling programme to upgrade the existing resource model in accordance with National Instrument 43-101 - Standard of Disclosure for Mineral Projects ("NI 43-101") is ongoing

Four out of 15 planned infill drilling holes have been completed - the remaining holes are scheduled for completion by January 2018

-- Completion of collection of a 100 tonne bulk ore sample from the legacy mine at Zinnwald to provide samples for metallurgical testwork has been complete - on completion of the concentration testwork, hydrometallurgical testwork for downstream processing will be undertaken, focusing on the production of higher value lithium battery chemical products

Financial

-- Implementation of a restricted share unit plan along with the grant of an aggregate of 1,192,277 restricted share units thereunder to directors, officers and senior management members of the Company and its subsidiaries

o the restricted share units vest on the date that is three years from the date of the grant, being 19 September 2020

-- Granting of an aggregate of 2,227,410 options to acquire common shares in the capital of the Company at a price of GBP0.80 (approximately $1.32) pursuant to the Stock Option Plan of the Company to directors, officers and senior management members of the Company and its subsidiaries

o the options vest as to 1/3 on the date of grant and an additional 1/3 on each of the first and second anniversaries of the date of grant and are exercisable for a period of three (3) years

-- On 28 September 2017, 833,333 of the Company's warrants and 50,000 of the common share options were exercised at $0.45 and $0.25 respectively for aggregate gross proceeds of $387,500

Lithium property outlook

-- The Company's strategy is to position itself to satisfy ongoing strong growth for lithium carbonate in the fast growing sectors of electric vehicles and energy storage. The Company is fully financed with approximately US$24.0 million in the bank at the date of this MD&A and is therefore fully funded through to the initial development of Sonora and the start of the construction stages.

-- The pricing of lithium carbonate in China remained strong in August 2017, with reported sales by major producers in the region of US$14,000/t and spot sales around US$19,400/t (source: With this in mind, the Company will update the pricing assumptions in its FS and expects to announce the updated long term pricing forecast for lithium carbonate for the FS prior to the FS being released.

For further information, please contact:

[cyfalafwr] 18/11/2017 20:00

Its not all about EV's

[hiddendepths] 09/11/2017 16:57

Yes, all-time high. This stock has been strangely subdued as other lithium companies with worse assets and similar market cap have multi-bagged. Now breaking out, stale bulls apparently all cleared out and plenty of blue sky ahead.

[igbertsponk] 09/11/2017 15:03

Sonora mine can produce 35k tons a year of lithium. Current world production 200k tons.
This company should be worth a multiple of its current value.

[ifthecapfits] 09/11/2017 15:00

All time high?

[acropolis1728] 09/11/2017 14:52

Every other sharp if not vertical up has pretty sharp if not vertical down....

[ih_524216] 09/11/2017 14:42

This looks pretty strong!

[andrbea] 09/11/2017 14:41

have seen the question to them by email

[igbertsponk] 09/11/2017 14:27

Ask the CEO yourself!
Mining Capital Conference on Thursday 30th November.

London's largest one-day mining investor conference
Gives you direct access to meet directors from some of the fastest-growing mining companies
This Mining Capital conference will let you meet directors from: Rambler Metals & Mining (LON:RMM), Bacanora Minerals (LON:BCN), Brixton Metals (CVE:BBB), Universal Coal (ASX:UNV), Vast Resources (LON:VAST), Anglesey Mining (LON:AYM), Excelsior Mining (TSE:MIN), Coro Mining (TSE:COP) & BlackIron (TSE:BKI). Tim Simpkin, fund manager at Greenstone Capital will also be presenting.
Champagne reception with canapés and catered lunch
Taking place in the heart of London City - The Brewery, 52 Chiswell Street, London, EC1Y 4SD.

[igbertsponk] 09/11/2017 08:44

Not likely when they've already agreed to sell their lithium to the Japanese company. More likely a big mining group will take them out when production is closer - a year or so.

[richsawko] 09/11/2017 08:27

Sorry for two posts computer playing up

[richsawko] 09/11/2017 08:25

Does anyone think that a big battery manufacturer may buy this company out to have exclusive rights to the Lithium?

[richsawko] 09/11/2017 08:24

Does anyone think that one of the big manufacturers of lithium batteries may buy this company out?

[acropolis1728] 08/11/2017 14:39

Presumably the spike was because someone knew this was happening today.

Bacanora CEO Peter Secker said, "The issue of the mining licence is a key milestone for Zinnwald where various workstreams for the Feasibility Study are well advanced. In Zinnwald and Sonora, Bacanora has, in our view, two world class assets, which have the potential to provide significant supplies of lithium products to the strategically important European and Asian lithium markets.

Will b interesting to see if it can avoid retracing back down to the 80s again.

[steeplejack] 08/11/2017 13:15

Which is a good sign!

[ifthecapfits] 08/11/2017 11:44

...and surprising how quiet this board is....

[ifthecapfits] 08/11/2017 09:26

I'm liking this......

[uapatel] 08/11/2017 07:18

Yes beergut definitely coming together now. Good to see some upward momentum on the share price

[beergut] 08/11/2017 07:09

More good news out this morningAll slowly coming together

[pugugly] 07/11/2017 09:15

Canaccord increased target to 130p
Also tipped by by David Kempton on Nov 06, 2017 at 13:28

"UK quoted Bacanora looks a good opportunity, but, as ever, don’t bet the farm on a mining stock, still two years from production, but of such a scale that high quality lithium could be produced for 180 years. "