StockMarketWire.com - Bacanora Lithium reported narrower losses on lower costs and favourable foreign exchange movements and also achieved a number of key milestones during the year.

For the year ended 30 June, pre-tax losses narrowed to $11.1m from $12.8m.

The company reported a foreign exchange gain of $17,581 for the year, compared with a loss of $0.76m a year earlier.

'With the feasibility study completed for Zinnwald and the option to acquire the outstanding 50% interest in the project extended, we are advancing discussions with potential partners at the project level to take this project forward' the company said.

'The securing of the strategic investment from top tier lithium company Ganfeng Lithium, the advancement of the Sonora Project in Mexico to construction-ready status and the completion of a feasibility study for a high-value lithium operation at our Zinnwald Project in Germany, all are stand-out milestones achieved during the year under review,' it added.


At 9:41am: [LON:BCN] Bacanora Minerals Ltd Ord Npv di share price was 0p at 34p



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