Peter Secker, Bacanora Lithium PLC’s chief executive (LON:BCN) explains why M&G taking its stake in the company up to 19.9% is so important to the lithium miner.
“It means almost half of our equity is now held by two strong, sophisticated investors,” he told Proactive’s Andrew Scott.
Chinese lithium giant Ganfeng took a 29.9% stake earlier in the year and fund manager M&G wanted to rebuild its position after being diluted by that transaction, he said.
People are also beginning to understand where we are going said Secker.
“We want to be a fully integrated downstream company, not just a concentrate producer.
“Now with the support of Ganfeng and M&G we are gaining momentum.”