Share price of Bacanora Minerals Ltd (TSX-V: BCN), a lithium mining and exploration company, jumped over 17% during the last two consecutive trading sessions with significant number of shares exchanging hands. In the last trading session, BCN was among the top performers in the Canadian diversified metals & mining sector after climbing 31.9% and ended at its 52-week high of C$1.20 while recording huge volumes of 225,375 shares. During the last 5-trading sessions, BCN gained 73.9% with 5-day average trading volumes of 146,799 shares, while the stock accumulated over 41% in the past one month with 30-day average volumes of 80,982 shares. The stock has provided returns of over 200% year-to-date.
Last month, BCN announced that the brokered financing is expected complete in conjunction with its application for the admission of its common shares to trading on the AIM Market of the London Stock Exchange. The company intends to offer up to £4,750,000 of common shares at a price of 0.33p per share. Using a foreign exchange rate of £1.00 = C$1.834, the offering price per security will be approximately C$0.605 and the aggregate gross proceeds of securities offered is expected to be up to approximately C$8,708,334.
Company Description:
Bacanora Minerals Ltd (TSX-V: BCN) is an exploration-stage company mining company engaged in exploration for mineral deposits in Mexico. The company’s mineral properties include Tubutama Borate, Magdalena Borate and Sonora Lithium.
1-Year Stock Chart:
Source: Bloomberg
