Bacanora Lithium PLC (LON:BCN) is continuing to make progress on all its workstreams, in spite of the coronavirus crisis.
A particular focus remains on the completion of the project engineering work. The timetable for this engineering work has, however, been impacted by delays in Asia and North America due to the ongoing government restrictions.
Bacanora’s partner Ganfeng was severely impacted by the travel restrictions imposed by the Chinese Government to slow the spread of Covid-19 during February and early March.
Although these restrictions are now being lifted, the return to work has been slow. Ganfeng's main lithium processing plant at Xinyu is resuming operations and lithium production is building up. As a result of this return to work, the Ganfeng test plant and project team have also resumed work on the Sonora flow sheet optimisation and process engineering.
Whilst some weeks of engineering have been lost, completion of engineering and equipment selection is now scheduled for the third quarter of 2020.
Bacanora has a strong cash position of US$47mln and is well positioned to withstand the continued effects of the coronavirus.