Who we are
Bacanora Minerals is an AIM and TSX listed company focused on developing the world’s next major lithium project in Mexico.
With the global lithium-ion battery market expected to soar from $17.5 billion to $70 billion by 2020, the demand for lithium is set to increase dramatically in the short to medium term. This is predominantly being driven by the automotive industry, although renewable battery storage technology will also play a significant part in this growth. To this end, the Company is rapidly commercialising the world class Sonora Lithium Project in Mexico which benefits from a large, scalable and high grade lithium resource with an NI 43-101 Measured plus Indicated Resource of over 5 million tonnes LCE. A Feasibility Study (‘FS’) has been completed, and results 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; 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').
Over CAD$20 million has been invested to date on exploration, studies and development of a lithium pilot plant near Hermosillo, which has produced high quality battery grade (>99.5%) lithium carbonate during ongoing testwork conducted over a 24 month period. This is a key differentiator and positions the Company favourably in comparison to its peers
Bacanora boasts a highly experienced Board and management team, led by CEO Peter Secker who has built and operated over 5 greenfields mining projects over the past 35 years.