Bacanora Lithium PLC Result of AGM (4314K)
December 13 2018 - 8:23AM
UK Regulatory
TIDMBCN
RNS Number : 4314K
Bacanora Lithium PLC
13 December 2018
Bacanora Lithium plc / Index: AIM / Epic: BCN / Sector: Natural
Resources
13 December 2018
Bacanora Lithium plc ("Bacanora" or the "Company")
Result of AGM
Bacanora Lithium plc (AIM: BCN), the London traded lithium
company, announces that at its annual general meeting held earlier
today, all resolutions were duly passed. A presentation of the AGM
Proxy results for each resolutions is available to view on the
Company's website here:
http://www.bacanoralithium.com/investor-relations/restricted-aim-rule-26/.
In addition, the investor presentation used at the meeting is
available to view here:
http://www.bacanoralithium.com/investor-relations/restricted-company-presentations/.
**ENDS**
For further information, please contact:
Bacanora Lithium plc Peter Secker, CEO info@bacanoralithium.com
Janet Boyce, CFO
Cairn Financial Advisers Sandy Jamieson / Liam +44 (0) 20 7213
LLP, Nomad Murray 0880
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Citigroup Global Markets, Tom Reid / Patrick Evans +44 (0) 20 7986
Broker / Matthew Kenney 4000
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Martin Davison / James +44 (0) 20 7523
Canaccord Genuity, Broker Asensio 8000
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St Brides Partners, Frank Buhagiar / Gaby +44 (0) 20 7236
Financial PR Adviser Jenner 1177
-------------------------- -------------------------
ABOUT BACANORA LITHIUM:
Bacanora owns ten mining concession areas covering approximately
100 thousand hectares in the northeast of Sonora State in Mexico.
Seven of these ten mining concessions (the 'Sonora Lithium
Project'(1) ) were included in the Feasibility Study announced 12
December 2017. The Company, through drilling and exploration work
to date, has established a Measured plus Indicated Mineral Resource
estimate of over 5 Mt (comprising 1.9Mt of Measured Resources and
3.1Mt of Indicated Resources) of LCE(2) and an additional Inferred
Mineral Resource of 3.7 Mt of LCE. The Company's Feasibility Study
has established Proven Mineral Reserves (in accordance with NI
43-101) of 1.67 Mt and Probable Mineral Reserves of 2.85 Mt LCE and
confirmed the economics associated with becoming a 35,000 tpa
lithium carbonate and 30,000 tpa SOP producer in Mexico. In
addition to the Sonora Lithium Project, the Company also has a 50%
interest in the Zinnwald Lithium Project and the Falkenhain Licence
in southern Saxony, Germany. Each of the Zinnwald Lithium Project
and the Falkenhain Licence are 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 and the Falkenhain Licence provides
close geographical proximity to the German automotive and
downstream lithium chemical industries.
1. The Sonora Lithium Project is comprised of the following
lithium properties: La Ventana lithium concession, which is 100
percent owned by Bacanora and El Sauz and Fleur concessions, which
are held by Mexilit S.A. de C.V. ('Mexilit') which is owned 70
percent by Bacanora and 30 percent by Cadence Minerals Plc.
2. LCE = lithium carbonate (Li(2) CO(3) ) equivalent; determined
by multiplying Li value in percent by 5.323 to get an equivalent
Li(2) CO(3) value in per cent. 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
RAGFFSFLDFASEEE
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December 13, 2018 09:23 ET (14:23 GMT)
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