Bacanora Lithium remains in active talks with Oman fund to finalise $65M offtake agreement for Sonora
Source - SMW
Bacanora Lithium said it remained in active discussions with the sovereign wealth fund of the Sultanate of Oman, to conclude the proposed US$65M offtake agreement for the miner's flagship Sonora Lithium Project in Mexico.
This followed the expiry of the original strategic investment agreement with the State General Reserve Fund of Oman, the sovereign wealth fund of the Sultanate of Oman, announced on 16 July 2018, which was conditional and had reached the end of its term, the company said.
The company remained focused on completing the funding package in Q2 2019 with a view to commissioning a chemical processing plant and commencing first production at Sonora in H2 2021.
At 9:47am: (LON:BCN) Bacanora Minerals Ltd Ord Npv di share price was -2.25p at 19.5p