Bacanora Lithium PLC (LON:BCN) has revealed it is in discussions with a number of potential cornerstone investors as part of the process to secure full funding of US$460mln for the Sonora Lithium Project in Mexico in the second-quarter of 2019.
In a statement noting recent press speculation and a spike in its share price today, the AIM-listed lithium company said these discussions are ongoing and added that it will provide an update to the market as appropriate.
This was the group’s second ‘Statement Re. Share Price Movement” of the week, having stated on Tuesday that it was not aware of any corporate developments that supported gains in its stock.
Bacanora said then that it remains focused on completing its funding in the second quarter of this year, with a view to the commissioning of the chemical processing plant at its Sonora lithium project in Mexico and first production in the second half of 2021.
In late morning trading, Bacanora Lithium shares were 31.4% higher at 23p.