Hanwa has taken a 10% stake in Bacanora through a private placement of 12.3 million shares at 82.5p, worth 10.2 million (US$13.2 million).
It also has the option to acquire a further 9.
Investors were unenthused as Japanese battery chemicals trader Hanwa Co confirmed it would buy up to 100% of the lithium carbonate produced from Bacanora Minerals’ (LN:BCN) planned Sonora project in Mexico.
Hanwa has taken a 10% stake in Bacanora through a private placement of 12.3 million shares at 82.5p, worth 10.2 million (US$13.2 million).
It also has the option to acquire a further 9.