Other Investment

In October 2020, Bacanora has sold its 50% shareholding in Deutsche Lithium GmbH ("DL" or "Deutsche Lithium") to Zinnwald Lithium plc (formerly Erris Resources plc), in exchange for 44.3% of Zinnwald Lithium plc and a net profit royalty of 2%. The royalty agreement provides that the royalty will be paid to Bacanora for an initial 40-year term and Zinnwald Lithium plc has the right to extinguish the agreement by paying Bacanora a one-off payment of €2m.