Bacanora Lithium is an AIM listed company focused on generating shareholder value by identifying and investing in undeveloped lithium assets. The Company is achieving this through its investments in two key projects, the Sonora and Zinnwald Lithium Projects in Mexico and Germany respectively. To capitalise on the fast-growing lithium market, our main focus is to monetise the resources and reserves held in the Sonora Project, which benefits from a large, scalable and high-grade lithium resource with a Measured and Indicated Resource of over 5 million tonnes LCE. This will be initially achieved by developing phase 1 of the mine and processing plant. The Company aims to produce lithium carbonate for sale through offtake partners, with any additional production sold on the open market, in due course. The Company published the Sonora Feasibility Study (“SFS”) in January 2018 that showed a pre-tax NPV of US$1.25 billion, 26% IRR and an operating cost of around US$4,000 per tonne. Bacanora has 10 licences covering almost 100,000 hectares in Sonora, Mexico. Of these 10 licences, seven licences were covered by the SFS. The Company has been operating a Pilot Plant in Hermosillo, which has produced high quality battery-grade (>99.5%) lithium carbonate during ongoing test work conducted over the last four years. The Company also holds a 50% investment in Deutsche Lithium, which owns the Zinnwald Lithium Project (covering 256.5 ha and with a 30 year mining licence to 31 December 2047), the Falkenhain licence (covering 295.7 ha and with a 5 year exploration licence to 31 December 2022) and the Altenburg licence (covering 4,225.3 ha and with a 5 year exploration licence to 15 February 2024). The Company published the Zinnwald Feasibility Study (“ZFS”) in June 2019, that showed a pre-tax NPV of €428m and IRR of 27%.