LEADERSHIP

Bacanora president resigns

Lithium exploration and development company Bacanora Minerals’ (LN:BCN) president and director Martin Vidal has resigned from the company, effective November 30.

Staff reporter
Martin Vidal played a key role in the discovery and exploration of Bacanora’s lithium assets

Martin Vidal played a key role in the discovery and exploration of Bacanora’s lithium assets

Going forward, he will remain with the company on an advisory or consultancy basis.

Vidal became president on May 31, 2013, after serving as vice president of exploration in Mexico since January 2011. He played a key role in the first discovery and exploration of Bacanora's lithium assets.

No reason was given for the resignation, although SP Angel wondered in a note whether it was related to Vidal disagreeing with the board's challenge of the 3% gross overriding royalty held by the estate of late founder and former chairman Colin Orr-Ewing.

The bank also wondered why the announcement hadn't been issued on December 1.

"We conclude that all is not well with the board of Bacanora Minerals. We expect Bacanora will look to finance the construction of the Sonora project shortly after publication of the feasibility study," SP Angel said.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.