Cadence Minerals said that Bacanora Minerals had announced that it had now filed the feasibility study for the Sonora lithium project in Mexico.
The results of the FS confirm the positive economics and favourable operating costs of a 35,000 tonnes per annum battery grade Li2CO3 operation.
The FS estimates a pre-tax project net present value of US$1.253bn at an 8% discount rate and an internal rate of return of 26.1%, and life of mine operating costs of US$3,910/t of lithium carbonate.
Cadence has an approximately 7% of Bacanora's equity and 30% of Mexalit and Megalit joint venture companies.
Mexalit is the owner of the El Sauz, El Sauz 1, El Sauz 2, Fleur and Fleur 1 mineral concessions, which forms part of the Sonora lithium project.
At 9:51am: (LON:KDNC) Cadence Minerals Plc share price was -0.01p at 0.32p