18 September 2013
Rare Earth Minerals plc
(the "Company" or "REM")
Investment
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").
Investments
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%.
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For further information please contact:
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Rare Earth Minerals plc |
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David Lenigas |
+44 (0) 207 440 0647 |
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WH Ireland Limited |
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James Joyce |
+44 (0) 207 220 1666 |
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Nick Field |
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Pelham Bell Pottinger |
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James MacFarlane |
+44 (0) 207 861 3864 |
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Marcin Zydowicz |
This information is provided by RNS