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CEO: Bacanora Minerals developing into a “significant lithium producer”

Peter Secker, chief executive of Bacanora Minerals (LON:BCN, CVE:BCN) says the completion of the pre-feasibility study at its Sonora project is “another milestone and another step in the development of the project.”

The PFS estimated an internal rate of return of 29% (post-tax 25%) and an associated net present value US$776mln, (post-tax US$542mln).

“We are continuing to deliver good news and we think we are on the next stage of developing Bacanora into a significant lithium producer,” he says.

The next stage is to search for off take partners, with Secker’s preference for two large off takers on long term supply agreements.

Quick facts: Bacanora Lithium Ltd

Price: 21.25 GBX

AIM:BCN
Market: AIM
Market Cap: £47.38 m
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Bacanora CEO: Lithium becoming an everyday commodity

Peter Secker, chief executive of Bacanora Minerals Ltd's (LON:BCN, CVE:BCN) says the market for lithium could double over the next decade, in tandem with the rise of renewable energy. Lithium batteries store energy from renewable energy sources, such as solar and wind, and Secker says...

on 05/31/2016

2 min read