REM increases strategic holding in Bacanora

RNS Number : 9710G

Rare Earth Minerals PLC

13 May 2014

 



13 May 2014

Rare Earth Minerals Plc.

("Rare Earth Minerals", "REM" or "the Company")

REM increases strategic holding in Bacanora Minerals to 9.4%

Rare Earth Minerals (AIM: REM) announces that it has now increased its shareholding in its joint venture partner in the Sonora Lithium Project in Mexico, Bacanora Minerals Limited ("Bacanora"), to 9.4% from the previously reported 8.6% through further on-market purchases totalling £165,000

This interest, when aggregated with REM's 30% direct interest in the Fleur- El Sauz Lithium Joint Venture and the 10% direct interest in the 94,000 hectare Megalit Joint Venture, results in a total economic interest in Fleur- El Sauz of approximately 36.6% and a total economic interest in Megalit of approximately 18.5%.

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For further information please contact: 

Rare Earth Minerals plc                                                                   [phone]

David Lenigas

Kiran Morzaria

WH Ireland Limited (NOMAD & Joint Broker)                               [phone]

James Joyce

Nick Field

Hume Capital plc (Joint Broker)                                                     [phone]

Guy Peters

Jon Belliss

Square1 Consulting                                                                         [phone]

David Bick                                                                                          

Mark Longson

 

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