London-based Bacanora Lithium’s share price rose sharply on Tuesday, but the company said that it was not aware of a reason for the price movement.
Bacanora, which is developing the Sonora lithium project, in Mexico, said in a statement that there was no unpublished price sensitive information and that unsubstantiated social media speculation should be treated as such.
The company affirmed that it would complete its funding before the end of the month.
Bacanora aims to commission the chemical processing plant at its Sonora project and to start production in the second half of 2021.
The company’s stock rose to 14.75p a share on Tuesday – an 18% increase on the previous day’s closing price.