Bacanora Step Closer To Becoming Lithium Producer Following Placing Wed, 3rd Feb 2021 10:23 (Alliance News) - Bacanora Lithium PLC on Wednesday said it is well on its way to transitioning to a lithium producer from an exploration company as its capital requirements for its Sonora lithium project in Mexico are now met follwoing a successful placing and retail offer. The lithium explorer focused on Mexico said it successfully raised approximately USD65 million through the placing of shares as well as a retail offer. A total of 101.4 million shares were placed at 45 pence each, raising proceeds of about USD62 million, while an extra USD3 million was raised after retail and other investors subscribed for 5.6 million shares.