REM Increases Strategic Holding In Bacanora Minerals to 12%
September 25, 2014 (Source: Rare Earth Minerals PLC) — 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”), from 11.83% to 12% through further market purchases totalling £89,775.
This interest, when aggregated with REM’s 30% direct interest in the Fleur – El Sauz Lithium Joint Venture and the 30% direct interest in the Megalit Joint Venture, results in a total economic interest in each of these joint ventures of approximately 38.40%.
David Lenigas, The Company’s Chairman, commented:
“We have further increased our strategic holding in BCN, as we continue to see excellent value and returns to be made from the Sonora Lithium Project in Mexico.”
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