Investment

RNS Number : 2751O

Rare Earth Minerals PLC

18 September 2013

 



18 September 2013

Rare Earth Minerals plc

(the "Company" or "REM")

Investment

Rare Earth Minerals plc (AIM: REM) the rare earth minerals and metals projects investment company is pleased to announce that it has made a further market investment totalling $0.05 million in Bacanora Minerals Limited ("Bacanora").

Investments

Bacanora is a TSX-V listed company exploring for and developing industrial mineral resources in Mexico with a primary focus on Borates and Lithium.  It is the joint venture partner of REM in the Fleur-El Sauz Lithium project (the "Joint Venture").  REM now has an interest of approximately 0.90% in the issued share capital of Bacanora, acquired at a cost of $0.25 million.  This interest, when aggregated with REM's 30% direct interest in the Joint Venture, results in a total economic interest in the Joint Venture of approximately 30.63%.

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For further information please contact:

Rare Earth Minerals plc
David Lenigas	[phone]
WH Ireland Limited
James Joyce	[phone]
Nick Field
Pelham Bell Pottinger
James MacFarlane	[phone]
Marcin Zydowicz

 

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