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Half of our equity is now held by two strong, sophisticated investors says Bacanora's Secker

Peter Secker, Bacanora Lithium PLC’s chief executive (LON:BCN) explains why M&G taking its stake in the company up to 19.9% is so important to the lithium miner.

“It means almost half of our equity is now held by two strong, sophisticated investors,” he told Proactive’s Andrew Scott.

Chinese lithium giant Ganfeng took a 29.9% stake earlier in the year and fund manager M&G wanted to rebuild its position after being diluted by that transaction, he said.

People are also beginning to understand where we are going said Secker.

“We want to be a fully integrated downstream company, not just a concentrate producer.

“Now with the support of Ganfeng and M&G we are gaining momentum.”

Quick facts: Bacanora Lithium Ltd

Price: 31.85 GBX

AIM:BCN
Market: AIM
Market Cap: £71.02 m
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Bacanora Lithium - Proactive Mining Capital conference

Bacanora Lithium PLC's (LON:BCN) Peter Secker presents to investors at the Proactive Mining Capital conference in London. Fund manager M&G has recently taken its stake in Bacanora to just under 20% through a share placing at 25p. The US$10mln proceeds will support pre-construction...

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