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Bacanora Lithium to see its stake in Zinnwald Lithium diluted

Zinnwald Lithium is buying the half of Deutsche Lithium it does not already own for €1.5mln in cash and around 50mln in shares

Bacanora Lithium Ltd -

Bacanora Lithium PLC (LON:BCN) said its stake in Zinnwald Lithium will slide to 35.5% from 44.2% as a result of Zinnwald’s buy-out of Deutsche Lithium.

Zinnwald is buying the 50% of Deutsche Lithium it does not already own. Bacanora will retain its right to appoint one director to the board of Zinnwald following the buy-out of Deutsche Lithium.

Meanwhile, Bacanora has updated on activities at the Sonora Lithium Project in Mexico where site works for bulk earthworks, civil engineering, and pouring foundations have been rescheduled to the fourth quarter of this year, in the light of current lock-down and travel restrictions in the area.

Quick facts: Bacanora Lithium Ltd

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Price: 67.9 GBX

Market Cap: £260.83 m

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