By Jocelyn Aspa
Bacanora Minerals received an unsolicited non-binding indicative proposal from Rare Earth Minerals, which it rejected.
Bacanora Minerals (TSXV:BCN) has provided an update on activities being undertaken as part of its definitive feasibility study for the Sonora lithium project.
As quoted in the press release:
The FS is focussed on at delivering the most economically robust development strategy for an initial 17,500 tonne per annum (“tpa”) of lithium
On Monday, French oil and gas producer Total announced that it had signed an agreement to acquire Saft, a leading lithium-ion battery maker, for 950 million euros. This marks Total’s second foray into the clean energy space, as the company acquired a controlling share of SunPower, a leading US solar
Two of Tesla Motors’ key executives are leaving the company ahead of the release of Tesla’s Model 3. The company saw its share price drop four percent on the news on Tuesday, and was trading around $222.75 as of 2:42 p.m. EST.
Highlights include an after-tax NPV of US$542 million at an 8-percent discount rate, and an after-tax IRR of 25 percent.
In its interim results for the six months ended December 31 2015, Bacanora Minerals (TSXV:BCN,LSE:BCN) stated that it is planning to move directly to a definitive feasibility study once its prefeasibility study is complete for its Sonora lithium project in Mexico.
Rare Earth Minerals Plc (LSE:REM) has raised gross proceeds of GBP3.55 million, or US$4.93 million in a placement to US institutional investors. Proceeds will be used to fund additional acquisitions in the lithium sector.
Antioquia Gold was the top-gaining stock for the week, followed by Goldsource Mines, Bacanora Minerals, Terraco Gold and Pacific Booker Minerals.
Alix Resources (TSXV:AIX) has discovered a lithium-bearing, clay-rich showing at its Electra project in Mexico. Electra is located adjacent to the Sonora lithium project, owned by Bacanora Minerals (TSXV:BCN) and Rare Earth Minerals Plc (LSE:REM).
Representatives from Nemaska Lithium, Western Lithium, Avalon Rare Metals and Lithium X comment on the lithium outlook for 2016.