Brief: Bacanora Minerals Says $90 Mln Investment By State General Reserve Fund Of Oman, Hanwa

Hanwa

16/07/2018 13:44

July 16 (Reuters) - Bacanora Minerals Ltd  BCNB.L :
    * INVESTMENTS BY SGRF OF OMAN & HANWA
    * BACANORA LITHIUM AGREED INVESTMENTS BY STATE GENERAL
RESERVE
FUND OF OMAN AND HANWA
    * INVESTMENTS COMPRISE $65 MILLION FROM SGRF, $25 MILLION
FROM
HANWA FOR DEVELOPMENT OF AN INITIAL 17,500 TPA LITHIUM CARBONATE
OPERATION
    * INVESTMENTS CONDITIONAL ON FULL US$460 MILLION
CONSTRUCTION
FUNDING REQUIRED FOR SONORA PROJECT BEING IN PLACE
    * BACANORA MINERALS LTD -BACANORA LITHIUM SAYS INVESTMENTS
BY
STATE GENERAL RESERVE FUND OF OMAN AND HANWA FOR A COMBINED
TOTAL OF US$90M
    * BACANORA AND SGRF HAVE ALSO ENTERED INTO AN OFF-TAKE
AGREEMENT
SUBJECT TO SAME CONDITIONALITY AS SIA
    * BACANORA SAYS OFF-TAKE OPTION TO BUY UP TO 10,000 TPA OF
LITHIUM
CARBONATE PRODUCED AT SONORA PROJECT PREDOMINANTLY DURING STAGE
2 FOR A PERIOD OF 10 YRS

Source text for Eikon:  ID:nRSP7685Ua 
Further company coverage:  BCNB.L 

 ((Reuters.Briefs@thomsonreuters.com;))