More MA activity in the lithium sector.
Bacanora Lithium brings in Chinese giant Ganfeng as partner at Sonora
Bacanora Lithium PLC (LON:BCN) has received a cash injection of £14.4mln from Ganfeng, the world’s largest lithium metal producer.
Ganfeng will invest at 25p per share for a 29.9% stake in Bacanora, but can also take a 22.5% direct stake in the Sonora lithium project in Mexico.
Taking up that option will cost Ganfeng a further £7.56mln with, if it chooses, the opportunity eventually to increase its stake in Sonora to 50%.
Lithium Related Media Articles, page-271
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