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Bacanora flags German lithium unit listing in 2019

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Bacanora flags German lithium unit listing in 2019

In prepared remarks for a Dec. 13 annual shareholder meeting, Bacanora Lithium PLC Chairman Mark Hohnen said the company is in talks with financial advisers over listing its Deutsche Lithium GmbH unit on "at least one public market in 2019."

Hohnen said the listing will follow a feasibility study for the Zinnwald lithium project in Germany scheduled for completion in the second quarter of 2019. The study is looking into producing higher-value downstream lithium products for the European battery and automotive sectors. Bacanora holds a 50% stake in Zinnwald through its Deutsche Lithium unit. It has an option to increase its stake in Zinnwald to 100%.

The chairman added that Bacanora's forecasts in October of lithium demand rising to 450,000 tonnes per annum by 2025 from 250,000 tonnes in 2018 now seem "on the conservative side."

"Currently, for instance, UBS is forecasting demand will hit 900,000 tpa by end of 2025, whilst Seeking Alpha believe demand could be more like 1.3 [million tonnes per annum] by 2025," Hohnen said.

In October, Bacanora announced an increase to measured, indicated and inferred resources at Zinnwald to 142,240 tonnes of contained lithium. The project has already produced lithium fluoride samples with over 99% purity from concentrates.