https://beta.companieshouse.gov.uk/company/10246575/filing-history Bacanora now domiciled in UK. Ready for next move. Release names of NDA's?? Release names of Asian partners?? Q1 2017 BFS!! GETTING BETTER DYOR
http://www.profitconfidential.com/s...c&utm_medium=twitter&utm_source=socialnetwork DYOR. But maybe follow Warren's advice . Bacanora, Remmy good stocks to watch
BCN now changed name to Bacanora Lithium and now domiciled in UK. Q1 2017 BFS due. Improving the resources all the time DYOR
http://www.teslarati.com/tesla-reportedly-fined-south-korean-supplier-1-million-breach-nda/ Now you can understand why leaks are not forthcoming about BCN and REM and TESLA deal Just wait. Imho this is going to space x when news is released and news of the NDA's
From the Times UK Opinion: No Opinion Price: 0.805 View Thread (4) .... Today 21:06 7 HOURS AGO by: Kate Burgess The town of Bacanora in Mexico has lent its name to two products with intoxicating potential. The first is moonshine made from wild agave plants that was legalised in 1990s and is now sold as Mezcal, a cousin to Tequila. The second is Aim-quoted Bacanora Minerals, which has heady plans to supply enough lithium to meet a 10th of global demand. Sample the FT’s top stories for a week You select the topic, we deliver the news. Select topic Enter email addressInvalid email Sign up By signing up you confirm that you have read and agree to the terms and conditions, cookie policy and privacy policy. Fans of the increasingly fashionable Mezcal say that, unlike other alcoholic drinks, it does not lead to hangovers and leaves drinkers with a happy buzz. Bacanora Minerals clearly hopes to do the same for its investors, unlike the other junior market explorers that have promised too much, too early, leaving shareholders with nothing but headaches. Bacanora’s shares have fared better than many since floating on Aim two years ago, boosted by the resilience of the lithium price, which has tripled since 2000 regardless of the commodity cycle. Now the miner has persuaded blue-chip investment groups such as BlackRock that it has a real chance of graduating from exploration to commercial production within three years. Rare Earth Minerals, chaired until last year by the colourful David Lenigas of “Gatwick Gusher” fame, is still the miner’s biggest backer with about 15 per cent of the shares and a claim on the some of the mines. But BlackRock and M&G now own 17 per cent between them. Lithium is the mining industry’s current tipple of choice. The light, volatile, silver-white element, sometimes known as “white petroleum”, is used in products ranging from ceramics and glass to lubricants and drugs. But more important is its ability to store energy. Already, about 40 per cent of the 180,000-plus tonnes of lithium consumed a year is used to power phones and laptops as well as electric cars and wind farms. By 2025, when demand is expected to be nearer 350,000 tonnes a year, well over half the lithium produced will go to the renewable energy industry. Tesla Motors, the US carmaker building a battery plant in Nevada, is expected to be turning out about half a million electric dodgems by 2018. That factory alone could absorb the world’s entire lithium ion production, according to some estimates. Who knows where demand will be in 2030, when soothsayers reckon the market in electric cars will have quintupled to about $24bn? Or in 30 years, when the likes of Germany hope to be entirely reliant on renewable energy sources. Lithium is found in small concentrations across the world, from Australia and Afghanistan to America. But almost all the battery-grade lithium carbonate is mined in the remote salt flats of the Atacama Desert on the borders of Chile, Argentina and Bolivia. That is where three of the four companies that control close to 90 per cent of the world’s output operate. Extracting the mineral from salt pans by evaporation is painstakingly slow, however. That was the opportunity that Colin Orr-Ewing, who founded, funded and chaired Bacanora until his unexpected death last month, spotted a decade or so ago when he alighted on the lithium-bearing clay deposits in Mexico. He reckoned Bacanora could extract lithium carbonate faster and in a more politically stable and friendly area with access to Asia, where 95 per cent of the world’s lithium batteries are produced. Now, after years testing the process, Peter Secker, Bacanora’s Australian chief executive, is confident Bacanora will start production in 2019 and be churning out 35,000 tonnes of the silver stuff by 2022. And it will do so at a cost of about $2,700 a tonne. That is low for the industry and substantially below the $6,000-plus that a tonne of lithium carbonate currently fetches. Even if prices fall, the company can maintain those margins, says Mr Secker. Still, the company has a lot to do. For a start, the full feasibility studies have yet to be completed. They are due next year. It then needs to secure offtake agreements with users and finalise project financing — estimated at about $240m for the first phase — to build the processing facility. Aside from the uncertainty surrounding the 10 per cent stake owned by Mr Orr-Ewing, Bacanora will have to raise more debt and issue new shares. Not even the most intoxicated analyst thinks the group will be earning anything before 2023.
http://www.timeslive.co.za/sundaytimes/businesstimes/2016/09/11/Lithiums-intoxicating-future Bacanora mentioned
London-listed Bacanora Minerals (Aim: BCN) – full disclosure: I own a small stake in this stock – stumbled on what seems to be a world-class lithium clay deposit in the Sonora region of northern Mexico almost by accident. It bought the mining rights for a borate prospect (another niche compound) from Rio Tinto, only to discover that it was sitting on huge deposits of lithium-rich hectorite clay. With these sorts of deposits starting to become of commercial interest, it partnered up with another London-listed company, Rare Earth Minerals (Aim: REM), which has funded a programme of exploratory drilling that has unearthed billions of dollars’ worth of lithium in the hills of the Sonora region. Of course, the question is – can it recover the lithium cheaply enough? Over the years, Bacanora has developed a lab-based extraction method. The company chairman (and veteran of the junior mining sector) Colin Orr-Ewing has let it be known that the company’s unique methods of metal extraction is both environmentally sympathetic and can even beat brine extraction on costs. Rather than use nasty chemicals to extract the lithium, Orr-Ewing says the process is a relatively simple one involving roasting the clay, then leaching the lithium compounds out with water. Given environmental regulations in the car industry, such concerns could be a significant factor when choosing a supplier. The huge battery corporations require secure and scalable supply. Both Western Lithium and Bacanora say they can deliver. What they need is the money to put their laboratory-based models into full-scale production. Both are looking for partners who will fund construction of plant and facilities,in order to secure future supply. I have researched the lithium market, and it’s my view that both miners can get these deals done. Don’t get me wrong – these are still highly speculative investments. All junior miners and explorers must be considered punts. Remember, there’s no production yet, lots of things can go wrong, and these tips are for your speculative money only. But this is also an industry in a state of flux. So getting in early could be hugely profitable – just don’t bet the house on it. You might instead consider Rare Earth Minerals as a slightly more diversified play – it’s a holding firm investing in both rare-earth mineral projects and lithium (not technically a rare-earth), and has big stakes in both Bacanora and Western Lithium. Another company to keep an eye on is European Lithium – it’s not yet listed, but plans to raise £5m on Aim later this year to develop a project in Austria.
30 September 2016 Bacanora Minerals Ltd ('Bacanora' or the 'Company') Rebuttal of Proposed Merger The Board of Bacanora ('Bacanora' or 'the Company'), the Toronto and London listed (TSX-V: BCN and AIM: BCN) company focused on developing the Sonora Project ('Sonora' or 'the Project') in Mexico into a world class lithium carbonate operation, announces that it has received an unsolicited non-binding indicative proposal ('the Proposal') from Rare Earth Minerals plc ('REM'), an AIM listed investment vehicle with a 19.8% holding in the Company. The Proposal envisages an all-share merger of Bacanora and REM with REM acting as the acquiring entity (via a reverse takeover) and issuing newly issued REM shares to Bacanora's shareholders. The merger exchange ratio proposed by REM is between 135 and 141 REM shares for each outstanding Bacanora share ('the Proposed Offer'). The Board of Bacanora strongly rejects the Proposal believing it significantly undervalues the Company and jeopardises Sonora's development path to production. Below, the Board summarises its view of the potential business combination and its rationale for rejecting the Proposed Offer: · The midpoint of the Proposed Offer range represents a premium of only 13.1% to the Bacanora closing share price of 88.50 pence per share on 29 September 2016 (being the last trading date prior to this announcement); · On a relative six month volume weighted average share price basis, the midpoint of the Proposed Offer range represents a discount of 0.7% as at 29 September 2016 (being the last trading date prior to this announcement); o The Board notes that on 20 September 2016, REM acquired 4.5 million ordinary shares from a large existing shareholder in cash at a price of 100p per share; in contrast the Proposed Offer envisages the settlement to be satisfied wholly through the issue of new shares in REM · The Proposed Offer would result in dilution to the near term and life of mine cash flow for Bacanora's existing non-REM shareholders given that 83.6% of the Sonora plant feed is expected to originate from Bacanora's 100% owned La Ventana concession over the current 21 year life of mine, as stated in the Preliminary Feasibility Study ('PFS') announced on 3 March 2016; · Bacanora's team has already delivered on key milestones at Sonora as it focuses on delivering the world's next major lithium mine, having: o Defined a high grade, large scale resource; o Produced battery grade lithium carbonate at its wholly owned pilot plant which is now running continuously; o Completed the PFS which demonstrates the attractive economics of Sonora and remains on track to deliver a fully funded BFS in Q1 2017; and o Introduced two well-known institutional shareholders to the register which signifies the attractiveness of Sonora and the market's confidence in the Board and management team to deliver on the Project; · The Bacanora team continues to work towards delivering critical near-term milestones that are expected to be highly value-accretive to Bacanora. In addition, the Board believes that: · Bacanora's Board and management have substantial experience in arranging financing, developing and operating mining projects and have the necessary capabilities to deliver the Sonora project; · REM's portfolio of early stage projects, mostly in the form of non-controlling equity interests, is likely to dilute Bacanora's investment case and create a less transparent investment proposition; and · REM's limited financial resources are not likely to assist the Sonora Project's funding requirements. The Board also notes REM's vote against the proposed re-domicile of Bacanora to the UK, which is widely viewed to be in the best interest of all the Company's shareholders, at the General Meeting held on 28 September 2016. Bacanora interim Non-Executive Chairman James Leahy said, "The Proposed Offer is opportunistic and materially undervalues Sonora. The Bacanora team has made excellent progress in successfully de-risking and advancing Sonora, and at the same time has successfully raised capital from blue chip institutions, who are fully supportive of progress made to date and management's ability to deliver Sonora as the world's next major lithium mine. In our view, as well as undervaluing the Company, the Proposed Offer has the potential to impede the project's development going forward." Macquarie Capital (Europe) Limited is acting as Financial Adviser to Bacanora with respect to the proposal from REM. This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. For further information, please contact
http://www.lse.co.uk/share-regulato...adline=EMH_raises_3M_from_Largest_Shareholder The times they are a changin, REM sure Remmy is looking to takeover EMH and BCN and become the BIGGEST Lithium supplier world wide IMHO DYOR WATCH THIS SPACE
October 2016 Bacanora Minerals Ltd ("Bacanora" or the "Company") Operations Update Bacanora, the London and Canadian listed (AIM: BCN and TSX-V: BCN) lithium exploration and development company focused on Sonora, Mexico, is pleased to provide an update regarding the operational progress made at the Sonora Lithium Project in Mexico ('Sonora' or 'the Project'). A Feasibility Study ('FS') at the Project, led by its experienced lithium team, is on track to be delivered in late Q1 2017 in line with Bacanora's strategy to independently develop Sonora into a world class lithium carbonate operation, with previously announced attractive production economics. Recent Developments: · Successfully completed a 4,000 metre infill drilling programme focused on upgrading a portion of the current Mineral Resource from the Indicated to Measured category, in conjunction with geotechnical and hydrological drilling for the FS o Sonora currently has a large Indicated Resource currently comprised of 259 Mt averaging 3,200 ppm Li for 4.5 Mt of lithium carbonate equivalent ("LCE1") · SRK Exploration has started to update the resource model and an updated Resource is anticipated to be published in Q4 2016 sequential with the commencement of mine planning and open pit designs for the FS · Ongoing refinement and optimisation of the lithium carbonate flow sheet, developed at the pilot plant operations in Hermosillo, will continue over the next 18 months o Benefits Bacanora by ensuring that operator training programmes are maintained during the construction of the full scale plant, thereby minimizing potential delays during project commissioning · Battery grade lithium carbonate samples from the pilot plant have been distributed to Japan for preliminary appraisal and testing by potential end-users o Facilitates a positive dialogue between customers and Bacanora's technical team during the ongoing lithium carbonate flow sheet optimisation process o Continued strategic focus on the larger lithium carbonate supply chain in Asia, rather than the smaller lithium hydroxide market Bacanora CEO Peter Secker said, "The Sonora Lithium Project has demonstrated its potential to deliver high grade lithium carbonate to the market with operating costs which could position it very favorably in comparison to its peers. The team continues to prove that it has the lithium operations and mine development expertise to attain key milestones and incrementally build project and shareholder value, something recognised by the Company's institutional backing." "We have demonstrated our ability to produce battery grade lithium carbonate at our wholly-owned pilot plant in Hermosillo, Mexico and also confirmed that the deposit is both long life and scalable, positioning it to supply the rapidly growing market for lithium carbonate, at a comparatively low cost, for over 20 years. The continued growth of the electric vehicle, combined with the commercial developments being made in delivering large-scale renewable energy storage capacity makes the lithium carbonate market a compelling place to do business. Accordingly, our in-house operations, both current and future, are dedicated to ensuring that we secure the right development path to deliver the best possible product at the lowest possible price." This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. Footnotes: [1] LCE is the industry standard terminology for, and is equivalent to, Li2CO3. 1 ppm Li metal is equivalent to 5.32 ppm LCE / Li2CO3.. Use of LCE is to provide data comparable with industry reports and assumes complete conversion of lithium in clays with no recovery or process losses.
Aim-listed lithium developer Bacanora Minerals has agreed a long-term supply agreement with Japan’s Hanwa Corporation that will see the Tokyo-based trader buy up to 100 per cent of the company’s processed output from its planned mine in Mexico. Hanwa, a big steel trader with a growing lithium business, is expected to make an initial 10 per cent equity investment in Bacanora in coming weeks, adding to an investor base that already includes BlackRock that has a near 11 per cent stake in the company. Growing demand for lithium, which is used in batteries for electric cars, has boosted interest in mining developments as prices of the raw fuel have risen. Bacanora plans to complete a feasibility study on its Sonora lithium deposit in Mexico in mid-2017. It said that the capital expenditure bill for developing the deposit was expected to be at least $250m to be financed by a combination of debt, project financing and equity. That companies such as Hanwa are prepared to sign so-called offtake deals with developers long before production begins highlights how lithium has captured the mining and trading industries’ imagination. Prices of lithium carbonate, or the processed ore, have roughly doubled since 2015, according to analysts at investment bank Liberum. Some fear, however, that a speculative bubble could potentially form in the key battery material, with more small-cap miners turning their attention to deposits. Bacanora, which does not yet have any revenues, has attracted big-name backers on top of BlackRock and has a £91m market capitalisation. M&G Investments owns just under 8 per cent. Cadence Minerals, chaired until 2015 by the colourful David Lenigas of “Gatwick Gusher” fame, is still the mine developer’s biggest investor with about 19 per cent of the shares and a claim on the some of the licences. The company says the Sonora deposit could produce as much as 35,000 tonnes of lithium carbonate annually by between 2021 and 2022 or potentially more than 10 per cent of forecast world consumption. Under the strategic partnership with Hanwa, the Japanese company will help secure debt financing for Sonora, as well as taking between 70 to 100 per cent of the lithium carbonate from the mine if it reaches production. “This partnership with one of the world’s leading battery chemical traders is transformational for Bacanora,” said Mark Hohnen, Bacanora’s chairman. “It significantly reduces the overall risk profile of the project.” The deal for Hanwa to take a stake in the company should add more than £10m to Bacanora’s cash balances. The company also owns a 50 per cent stake in the Zinnwald lithium deposit in Germany, where a feasibility study is also expected to start this year.
