REM increases strategic holding in Bacanora

RNS Number : 3548G

Rare Earth Minerals PLC

03 March 2015

 

3 March 2015

Rare Earth Minerals Plc.

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

REM increases strategic holding in Bacanora Minerals to 15.02%

Rare Earth Minerals (AIM: REM) announces that it has now increased its shareholding in Bacanora Minerals Limited ("Bacanora"), from 14.48% to 15.02% through further market purchases totalling £334,564.

This interest, when aggregated with REM's 30% direct interest in Megalit S.A de CV (the company holding the Buenavista, Megalit and San Gabriel concessions) and the 30% direct interest in Mexalit S.A de CV (the company holding El Sauz, El Sauz 1, El Sauz 2, Fleur and Fleur 1 concessions), results in a total economic interest in each of these companies of 40.51%.

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For further information please contact: 

Rare Earth Minerals plc                                                                              [phone]

David Lenigas

Kiran Morzaria

WH Ireland Limited (NOMAD & Broker)                                                    [phone]

James Joyce

Mark Leonard

Square1 Consulting

David Bick, Mark Longson                                                                              [phone]

 

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