For thousands of other reports visit RSC's Mineral Intellingence Map
Bacanora Minerals Ltd.
Summary
| Project: | Sonora | |
|---|---|---|
| Deposit: | Sonora | |
| Location: | Mexico | |
| Commodities: | Lithium-Potassium | |
| Date: | 12/13/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 13-12-2017: Bacanora Minerals Ltd. announces a Feasibility Study report for its Sonora deposit at the Sonora project. Feasibility study results and updated resources and reserves at Sonora. BACANORA MINERALS LTD. ("Bacanora" or the "Company") (TSX-V: BCN | |
| Resources: | (Reserve, P+P): 243Mt @ 3480ppm Li, 1.45% K at project | |
| CP/QP: | [Resources]: Martin Pittuck (SRK Consulting (UK) Ltd.) | |
| ABSTRACT: | BACANORA MINERALS LTD. ("Bacanora" or the "Company") (TSX-V: BCN and AIM: BCN), the Canadian and London listed lithium company, is pleased to announce that the results of the Feasibility Study ("FS") for the Sonora Lithium Project1 in Mexico ("Sonora" or "the Project") confirm the positive economics and favourable operating costs of a 35,000 tonnes per annum ("tpa") battery grade Li2CO3 operation. The FS estimates a pre-tax project Net Present Value ("NPV") of US$1.253 billion at an 8% discount rate and an Internal Rate of Return ("IRR") of 26.1%, and Life of Mine ("LOM") operating costs of US$3,910/t of lithium carbonate ("Li2CO3"). Peter Secker, CEO of Bacanora, commented, "The FS confirms the Company's long held view that Sonora has the potential to become a significant supplier of battery grade lithium to growing industries, such as electric vehicles and energy storage, and at the same time to generate positive value for shareholders. The numbers speak for themselves: a US$1.25 billion Pre-Tax NPV, a 26% IRR and, at a US$3,910/t operating cost, a favourable position on the global industry cost curve, which puts Sonora on a par with the lower cost brine operations." "Thanks to the work we carried out in parallel with the FS, notably the securing of a long term offtake agreement and strategic partnership with leading Japanese trading house Hanwa, the issuance of an environmental permit, and the acquisition of surface rights, we are in a position to commence the development phase of Sonora. Our objective is to transform Bacanora into the next significant producer of lithium carbonate and in Sonora we have the asset that we expect to enable us to do so. Bacanora is entering a new and exciting stage in its development and I look forward to providing further updates on our progress in due course." | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report