15th Oct 2015 16:09
LONDON (Alliance News) - Rare Earth Minerals PLC said Thursday that it has increased its share in the Cinovec deposit, a lithium project in the Czech Republic, to 11.87% through buying a further 2.07% holding, or 2 million shares, in European Metals Holding Ltd for GBP170,640.
European Metals owns 100% of the lithium project.
Separately the company announced that it has applied to be admitted to the ISDX Growth Market, although it reiterated that it will remain trading on AIM following its admission to ISDX. It expects this admission to take place on or around October 28.
"We are seeking admission to ISDX as a means of further increasing liquidity and trading options for our shareholders and creating an additional platform on which to promote the company's growth," said Executive Chairman David Lenigas in a statement.
Shares in Rare Earth closed down 1.7% at 0.949 pence Thursday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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