Rare Earth Minerals PLC: Investment
September 18, 2013 (Source: Rare Earth Minerals PLC) — 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”).
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%.
– ends –
Get our daily investorintel update
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>