Cadence Minerals Plc #KDNC - Bacanora Lithium #BCN Lithium market update - forecast increase in demand to meet ramp up in EV production, up 800% by 2030, expects industry shift & dramatic lift in specialist materials & metals output.. Bacanora CEO Peter Secker commented: “The entire team at Bacanora and our partners continue to work as best as we can during this pandemic. We remain fully focussed on progressing the final parts of the detailed design work for our flagship Sonora Lithium Project, located in Mexico. Bacanora also boasts a strong cash position and benefits from the support of its cornerstone shareholders, who are globally significant players in the electric vehicle industry. The Company’s strategy remains the same and with the goal to deliver first product to its off-take partners in early 2023, importantly coinciding with the expected significant growth in EV demand.” Cadence CEO Kiran Morzaria commented: “Our thoughts are with the Bacanora team as they work through the Covid-19 pandemic. We note Bacanora’s update on the Sonora development timetable, and in particular the Lithium market in general, detailing the forecast increase in demand to meet the ramp-up in EV production.”
Bacanora Lithium plc, a lithium exploration and development company, provides an update on activities at its Sonora Lithium Project in Mexico in light of the ongoing Covid-19 pandemic.. Significant attention has been focused on the completion of the Project engineering work, however this has been affected by delays experienced in Asia and North America.
RNS Number: 1235 N Bacanora Lithium PLC 18 May 2020 18 May 2020. Bacanora Lithium plc, a lithium exploration and development company, is pleased to announce that the Company's Annual General Meeting will be held at The Clubhouse, 8 St James's Square, London SW1Y 4 JU, at 11 am on 11 June 2020.. The Board takes its responsibility to safeguard the health of its...
RNS Number: 1607 L Bacanora Lithium PLC 28 April 2020. A second and final Price Monitoring Extension has been activated in this security. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 1600 L Bacanora Lithium PLC 28 April 2020. The auction call period has been extended in this security by 5 minutes. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
Bacanora Lithium Plc #BCN announced that Mr. Graeme Purdy has been appointed as an independent Non-Executive Director of the company with immediate effect.
Bacanora Lithium (#BCN LN) 23.25p, Mkt Cap £51.8m – Non-executive director appointment Bacanora Lithium has reported the appointment of Graeme Purdy as a non-executive director with immediate effect. Mr. Purdy is a chartered Chemical Engineer ʺwith over 25 years of global experience in the resources and battery industriesʺ who is currently ʺChief Executive Officer of Ilika Plc (AIM: IKA) ("Ilika"), a solid-state lithium battery technology developerʺ. Bacanora points to Mr. Purdy’s ʺearlier international career with Shell, where he managed the design, construction and commissioning of large process engineering projects in remote locations, including Latin America.ʺ Welcoming the appointment, Bacanora Lithium’s Chairman, Mark Hohnen, said that ʺHe 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 Mexicoʺ. Expressing his appreciation of the appointment, Graeme Purdy said that ʺI 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 Corporationʺ.
Bacanora Lithium (#BCN LN) We note the appointment by Bacanora Lithium (BCN LN) of Graeme Purdy as a non-executive Director to the board with immediate effect. Mr Purdy is currently CEO of Ilika PLc (IKA LN), a solid-state lithium battery technology developer. As well as wide experience within the downstream end of the battery supply chain Mr Purdy has experience from a period at Shell in the construction and commissioning of large-scale projects in remote locations. Therefore with experience of the battery industry, UK capital markets and execution of large industrial projects we believe it is an appointment which will strengthen the board at an important time. The shares in BCN have recovered 24% from lows although it is not clear whether this has been supported by the broader recovery in equities or the restart of Chinese manufacturing, however, given the relative importance of China to annual lithium demand the restart of Chinese industry should mean the impact on demand for lithium carbonate and similar products is normalising faster than other metal and minerals markets.
RNS Number: 1077 K Bacanora Lithium PLC 20 April 2020 20 April 2020. 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.
RNS Number: 2165 J Bacanora Lithium PLC 08 April 2020. The auction call period has been extended in this security by 5 minutes. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 5520 H Bacanora Lithium PLC 25 March 2020. A second and final Price Monitoring Extension has been activated in this security. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 5510 H Bacanora Lithium PLC 25 March 2020. The auction call period has been extended in this security by 5 minutes. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 4110 H Bacanora Lithium PLC 24 March 2020. A second and final Price Monitoring Extension has been activated in this security. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 4093 H Bacanora Lithium PLC 24 March 2020. The auction call period has been extended in this security by 5 minutes. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
Bacanora Lithium (BCN LN) 15.5p, Mkt Cap £34.6m – Sonora State reports first case of Covid19 infection Bacanora Lithium has reported that the Mexican State of Sonora, which hosts the company’s Sonora Lithium project has now confirmed the first case of Covid19 infection. Stressing the importance attached to the safety of its staff, the company confirms that its ʺadministrative staff, based in Hermosillo, are now working remotely. The pilot plant will continue to operate on day shift until the next batch of kiln and lithium samples are shipped to the USA and China, or until the Company is required to temporarily close its operations following a government directiveʺ. It also confirms that its UK staff and those working on the Zinnwald project in Germany are also working remotely. Commenting on the metallurgical test-work being undertaken by Ganfeng Lithium in China, the company says that Ganfeng ʺwas severely impacted by the travel restrictions imposed by the Chinese Government to slow the spread of Covid-19 during February and early March. Although these restrictions are now being lifted, the return to work has been slow. Ganfeng's main lithium processing plant at Xinyu is resuming operations and lithium production is building upʺ. Although ʺsome weeks of engineering have been lost, completion of engineering and equipment selection is now scheduled for Q3, 2020ʺ. Upon completion of the engineering, ʺGanfeng will provide Bacanora with an Engineering, Procurement and Construction ("EPC") style engineering proposal for the production of downstream battery grade lithium products from the Sonora lithium plant. This schedule remains under regular review in relation to the ongoing Covid-19 situationʺ. Using the services of the recently appointed GR Engineering Services, ʺand Ganfeng, Bacanora is updating its engineering and contracts schedules, with a goal of being able to complete financing for the Project and commence construction before the end of 2020ʺ. Conclusion: We imagine that Bacanora Lithium is not alone amongst mineral development companies in having its project development schedule disrupted by the impact of Covid19. In addition to the additional engineering and technical challenges posed by the virus, financing challenges will be exacerbated by the pandemic. #BCN
Bacanora Lithium Plc #BCN announced an update on activities at its Sonora Lithium Project in Mexico ("Sonora" or the "Project") following the outbreak of Covid-19. Whilst Covid-19 has affected Bacanora and its partners, the Company continues to progress all its workstreams, in particular the completion of the Project engineering work. The timetable for this engineering work has however been impacted by delays in Asia and North America due to the ongoing government restrictions. Completion is now scheduled for Q3, 2020. Nonetheless, Bacanora has a strong cash position of US$47 million and is well positioned to withstand the continued effects of Covid-19. Ganfeng Lithium ("Ganfeng"), like all Chinese companies, was severely impacted by the travel restrictions imposed by the Chinese Government to slow the spread of Covid-19 during February and early March. Although these restrictions are now being lifted, the return to work has been slow. Ganfeng's main lithium processing plant at Xinyu is resuming operations and lithium production is building up. As a result of this return to work, the Ganfeng test plant and project team have also resumed work on the Sonora flow sheet optimisation and process engineering. Whilst some weeks of engineering have been lost, completion of engineering and equipment selection is now scheduled for Q3, 2020. Subsequently, Ganfeng will provide Bacanora with an Engineering, Procurement and Construction ("EPC") style engineering proposal for the production of downstream battery grade lithium products from the Sonora lithium plant. This schedule remains under regular review in relation to the ongoing Covid-19 situation and shareholders will be updated regularly as the engineering process develops. In conjunction with GRES and Ganfeng, Bacanora is updating its engineering and contracts schedules, with a goal of being able to complete financing for the Project and commence construction before the end of 2020.
Bacanora Lithium #BCN Bacanora Lithium (BCN LN) has announced an update in relation to the Sonora project following the impact of the coronavirus. Given that BCN’s strategic partner, Ganfeng Lithium is primarily based in China the review process of project engineering has been delayed. As we had anticipated this delay now means that the review work is likely to be completed in Q3 2020, roughly a three month impact, however, with Ganfeng in line with many other industrial groups in China now resuming work and restarting factories this gives greater clarity to our estimate. Although in our estimates, which indicate production commencing mid-2022 we had built in up to six months of delays for unforeseen events on the development timetable we highlight that one of Ganfeng’s roles is to optimise the development schedule and we don’t rule out the possibility that some time could be regained that has been lost in the last quarter. Furthermore, with the support from Ganfeng, BCN has a strong cash position of US$47m and is well placed to continue advancing the Sonora project and BCN aims to commence construction before the end of calendar 2020. As a low cost, scalable project capable of delivering consistent high quality lithium products Sonora remains globally significant and we expect Ganfeng’s continued strong support. Although the impact to date has primarily been due to the closures in China, we do note that Sonora State has confirmed its first positive case and measures including closures of schools and non-essential businesses have been taken. The pilot plant has so far been able to continue operating and will complete its current batch of samples for shipment to the USA and China. BCN has appointed, GR Engineering Services, to assist with completion of the Front End Engineering Design (FEED). The group has experience of operating across a broad range of geographies and has offices in Hermosillo where the BCN pilot plant is located. GR ES will provide EPC services across the lithium processing facility helping to expedite the FEED process. We reiterate our Buy recommendation and 114p target price.
RNS Number: 1149 H Bacanora Lithium PLC 23 March 2020 23 March 2020. Sonora Lithium Project and Covid-19 Update. Nonetheless, Bacanora has a strong cash position of US $47 million and is well positioned to withstand the continued effects of Covid-19.
Bacanora Lithium
BCN.L
Bacanora Lithium
Bid
-
-
-
Ask
  • High
    -
  • OPEN
    -
  • VOL
    -
  • MKT CAP
    -m
  • LOW
    -
  • CLOSE
    -
  • AVG VOL
    -
  • SHARES IN ISSUE
    134.47M

Company Profile

Bacanora Lithium is an AIM listed company focused on developing the world’s next major lithium project in Mexico.

Classification

Market Indices-
Watchlist