BACANORA MINERALS LTD. the AIM and TSX Venture Exchange listed lithium and borates company focussed on Mexico, announces that Colin Orr-Ewing is stepping down as Non-Executive Chairman of the Company due to personal reasons. Mr. Orr-Ewing will remain on the Board as a Non-Executive Director.
We have strived to ensure that our share owners enjoy the full benefit of higher gold, silver and copper prices. We have not sold any royalties or metal streams and we do not hedge our precious metal sales. I am pleased with our progress of building a strong balance sheet, which will allow us to fund the future development of our Gold Bar mine and El Gallo Silver mine with reduced financing requirements, stated Rob McEwen, Chairman and Chief Owner.
Proceeds of the Offering are intended to be used for the continued advancement of the Tepal Gold/Copper Project and for general corporate purposes.
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