Business
Completion of Increased Interest In Joint Venture
Completion of Increased Interest In Joint Venture.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 4481S Rare Earth Minerals PLC 07 November 2013 \n \n\n7 November 2013\n \nRARE EARTH MINERALS PLC\n \n(\"Rare Earth Minerals\", \"REM\" or \"the Company\")\n \nCompletion of Increased Interest In Joint Venture \n \nRare 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.\n \nAs 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%.\n \n \n- Ends -\n \nFor further information please contact:\n \nRare Earth Minerals plc +44 (0) 207 440 0647\nDavid Lenigas\nKiran Morzaria\n \nWH Ireland Limited (NOMAD & Joint Broker) +44 (0) 20 7220 1666 \nJames Joyce\nNick Field \n \nXCAP Securities plc (Joint Broker) +44 (0) 207 101 7070\nGuy Peters\nJon Belliss\n \nSquare1 Consulting\nDavid Bick +44 (0) 207 929 5599\nMark Longson\n \n \n\nThis informatio...