Business
REM increases its holding in Bacanora Minerals Ltd
REM increases its holding in Bacanora Minerals Ltd.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 3902X Rare Earth Minerals PLC 10 January 2014 \n \n\n10 January 2014 \n \nRare Earth Minerals plc\n \n(\"Rare Earth Minerals\", \"REM\" or \"the Company\")\n \nREM increases its holding in Bacanora Minerals Ltd.\n \nRare Earth Minerals (AIM: REM) announces that it has increased its shareholding in Bacanora Minerals Limited (\"Bacanora\") to 3.17% of their issued shares through further market purchases totalling approximately £172,000.\nBacanora is a TSX-V listed company exploring for and developing industrial mineral resources in Mexico with a primary focus on Lithium and Borates. 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 3.17% in the issued share capital of Bacanora acquired at a cost of approximately £591,000. 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 32.2%.\n \n- Ends -\n \nFor further information please contact: \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 &...