Rare Earth Minerals PLC: Completion of Increased Interest In Joint Venture
November 7, 2013 (Source: Rare Earth Minerals PLC) — Rare Earth Minerals PLC (AIM: REM) is pleased to announce that further to the announcement of 5 September 2013, the Company has now received formal notification that it officially owns 30% of the shares of MEXILIT SA de CV (“MEXILIT”), the local Mexican company that holds the El Sauz, El Sauz 1, El Sauz 2, Fleur and Fleur 1 Concessions which form part of the overall Sonora Lithium Project in northern Mexico. The acreage held by MEXILIT totals 5,325 hectares.
As previously announced, REM continues to have a first right of refusal, under the agreement with Bacanora, to negotiate terms to further increase its interest in the Project to 49.9%.
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