Bacanora, a Lithium carbonate producer in development stage
Bacanora Minerals is a lithium exploration and development company that describes itself as a “company focused on becoming a large scale producer of battery grade lithium carbonate”.
As reported in April 2017 by the Financial Times, Bacanora has agreed a long-term supply agreement with Japan’s Hanwa Corporation that will see the Tokyo-based trader buy up to 100 per cent of the company’s processed output from its planned mine in Mexico.
Earlier this month Bacanora announced that its jointly controlled entity, Deutsche Lithium GmbH has been granted a mining licence covering 256.5 hectares of its Zinnwald Lithium Project which is located in southern Saxony, Germany, close to the key German automotive and downstream lithium chemical industries, 4-Traders reported.
How to invest in Bacanora Minerals
The excellent development perspectives for the lithium carbonate producer are perfectly reflected in the weekly price chart for the ticker BCRMF. The stock price as been entrapped in a long term pennant from which it is ready to breakout.
The impatient investor can buy at market price but the systematic trader may prefer to wait for a break of the previous resistance level above $1.52.
Bacanora will now enter into our virtual portfolio at today’s (Nov. 28th) opening price.