JOHANNESBURG (miningweekly.com) – UK-based mining investment firm Cadence Minerals is in negotiations to sell its interest in Aim- and TSX-V-listed lithium developer Bacanora Minerals, the company announced on Monday.
Cadence said that during the course of discussions with institutional investors about the potential sale of its 16.06% interest in Bacanora, a single strategic investor group had taken an interest in buying a “material portion” of its stake in that company.
Cadence added that discussions had been positive and that it hoped to complete a partial sale over the coming weeks.
Bacanora is developing the Sonora lithium project, in Mexico, and also owns a borate project in that country. In Germany, Bacanora has a 50% interest in the Zinnwald lithium project.
Edited by: Mariaan Webb
Creamer Media Senior Deputy Editor Online
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