RNS Number : 4780B
Bacanora Minerals Ltd
10 January 2018
Bacanora Minerals Ltd
('Bacanora' or the 'Company')
Exercise of Options
Bacanora, the Canadian and London listed (TSX-V: BCN and AIM: BCN) lithium exploration and development company focused on Sonora, Mexico, announces that the Company has issued 1,000,000 new common shares in the Company ('the New Common Shares') pursuant to the exercise of options by Fernan Pty Ltd, a consultancy wholly owned by Mark Hohnen, Executive Chairman of Bacanora Minerals. The options are being exercised at a price of GBP£0.77 per share for a total consideration of £770,000. Following this exercise, Mr Hohnen's beneficial interest in the Company's shares stands at 2,514,951 (1.9% of the Company's issued share capital).
That is AIM for you. Prices will tend to spike and then drift down as interest fades until the next set of news. These are tucked away in my SIPP so i don't tend to trade those shares. The plus side is that i think we will be able to pick these up for around the 1.10 to 1.15 mark at some point in the next 3 months and i will add to my holding.
Is it really possible to short shares that have risen as steeply as this? Since it's obvious they always pull back for a breather, it seems a bit like handing out free money. The money of those of us who bought, presumably.
I've sold two thirds of mine in the last two days, but will keep the funds ready to put back in.....
Hi Mr Jinks,
If you are quite new to BCN have a look at their latest corporate presentation particularly slide 15.
3g of Lithium in your mobile
30g in your laptop
25-50Kgs in an EV
500Kgs per Mw of electrical grid storage.
Note that Tesla recently delivered a 100Mw battery system to South Australia. One system ate 50,000 Kgs of Lithium !
Who knows there may be a new technology (Graphene, Hydrogen fuel cells?) that makes Lithium redundant but I think Lithium demand will only grow for the next few years at least.
Interesting viewpoint but you can't just turn on a lithium mine. It can take a decade from initial analysys to actually getting product out of the ground and then there is a finite resource, albeit quite a common element.
Have a read https://www.bloomberg.com/graphics/2017-lithium-battery-future/
Hi Rakkyd, at present the demand for Lithium is high and likely to go higher as electric cars, micro grids etc require it for batteries.
IMHO and looking back on the dotcom bubble, the high demand and low supply will send prices sky high. As other suppliers catch up the demand/supply equation will change to oversupply and prices will slump.
I'll be happy to be proved wrong, but that's my twopennyworth of wisdom
Any useful insight behind that Shuggle? I presume you are basing that purely on the extent of the recent increases?
Do you not have a view on the company changing news prior to Christmas?
I said that the recent deal with the Chinese puts a floor on the share price at c.116p - but this would place no value on the fact that we are only 24m away from production and that the Feasilbility study is using very conservative forecasts for the price Lithium
Just came a bit late to the party. Bought some just now 149. Confident that there is still upside to this company.
I suspect that Lithium may be a bit of a bubble, but hope to get out at the right time
Bought these in June and been quietly watching, how far are these gonna go?
Tempted to just sit on shares and wait until production at least, before taking my investment out, nearly doubled at present. EVerything looking good here. Product sold before anything produced ticks a few boxes.
Could be because of KDNC's new strategy which (insofar as I understand it, which is probably not very much) seems to be to sell their existing assets when possible and put the proceeds into earn-in drilling programmes in unknown startups. Brave but risky, and investors are perhaps not yet convinced.
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