Bacanora Lithium PLC (LON:BCN) said on Friday that chief executive Peter Secker has been appointed as a main board director of the company with immediate effect.
Secker, who has been chief executive since May 2015, brings more than 35 years of experience in developing, constructing and operating mines.
WATCH: Bacanora Lithium advancing Sonora debt and equity financing
"As CEO of Bacanora, Peter has been instrumental in advancing our flagship Sonora lithium project to the point where its credentials to become a world class, low cost producer of battery grade lithium carbonate were recently confirmed by a Feasibility Study," said chairman Mark Hohnen in a statement on Friday.
"This demonstrated the project's robust economics including an net present value of US$1.25billion; an IRR of 26.1%; and life of mine gross operating costs of US$3,910/t Li2CO3, which are comparable to those of the low cost brine producers of South America."
Hohnen said the company remains focused on embarking on the construction phase at Sonora in the first half of 2018 and aims to commence production of high value lithium products in the first quarter of 2020.