Good evening,
I'm normally a more frequent writer, but I've been modelling for an art course for the past week and it's limited my time significantly. Consequently, quickly discuss Bacanora Minerals' latest update
Bacanora Minerals' Update (Expansion Plans for Sonora Lithium Project):
Pretty much, I'm just extracting the most important words and phrases from the 01/10/2014 RNS, so that we can summarise it a bit quicker and cut to the chase with any further speculation:
- "it will commence a significant drilling and exploration program in early November"
- "upgrade resource estimated from the indicated to measured resource category"
- "the Company will begin trenching on the Buenavista area of the Megalit concession to provide bulk clay samples for metallurgical testing"
- "the Company has also begun testing for the recovery of lithium hydroxide"
- "The Company is actively working with a number of potential off-take customers for its potential lithium compound production."
In terms of analysis, there's not actually that much to say, apart from "watch this space". This RNS implies that news-flow regarding drilling results will only be a month or two around the corner and news regarding possible off-take partners could be released sooner than this.
On another note, I'm also impressed by the lock-in agreements that Bacanora Minerals are putting on their warrant exercisers, which is an illustration of savvy directors - see the 10/10/2014 RNS.
I'm awaiting more funds to purchase more here and I'll probably be looking to increase my exposure to proven resource mineral companies in these more unsettled markets.
Cheers,
The Masked AIM Trader
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