OTCPK:BCLMF - Post Discussion
Post by
howestreetbull on Nov 03, 2017 8:33am
StockwaDiamond & Specialty Minerals Summary for Nov. 2, 2017
Stockwatch Diamond & Specialty Minerals Summary for Nov. 2, 2017 2017-11-02 21:19 ET - Market Summary by Will Purcell Peter Secker's Bacanora Minerals Ltd. ( $BCN ), up five cents to $1.49 on 33,000 shares, has secured access and surface rights to its Sonora lithium project in the Sonora region of Mexico. (Explorers hold the subsurface rights and can explore for minerals; they start worrying about surface rights when they think they have a mine.) Mr. Secker, CEO, called the acquisition of parcels of land hosting its La Ventana, Fleur and El Sauz deposits "another major milestone" toward developing a big lithium mine. Bacanora's next milestone, a feasibility study, is also drawing near: Mr. Secker says that the study should be complete late this year. Sonora cleared prefeasibility in the spring of 2016, based on a reserve of 130 million tonnes averaging 1.6 per cent lithium carbonate equivalent. The plan called for a mine to produce 17,500 tonnes of battery-grade lithium carbonate per year, increasing to 35,000 tonnes per year after the third year. The capital cost was $240-millon (U.S.) to reach production and another $177-million (U.S.) to expand the mine. The study projected Sonora with a discounted net present value of $542-million (U.S.) after taxes.
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