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Investments

16th Sep 2013 07:21

RNS Number : 0435O
Rare Earth Minerals PLC
16 September 2013
 



16 September 2013

Rare Earth Minerals plc

(the "Company" or "REM")

 

Investments

 

Rare Earth Minerals plc (AIM: REM) the rare earth minerals and metals projects investment company is pleased to announce that it has made market investments totalling $0.52 million in Western Lithium USA Corporation ("Western Lithium") and 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 has an interest of approximately 0.2% in the issued share capital of Bacanora, acquired at a cost of $0.04 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 30.14%

 

Western Lithium is a TSX-V listed company whose principal project is the Kings Valley, Nevada lithium carbonate deposit. REM has an interest of approximately 1.7% in the issued share capital of Western Lithium, acquired at a cost of $0.48 million.

 

- ends -

 

For further information please contact:

 

Rare Earth Minerals plc

David Lenigas

+44 (0) 207 440 0647

WH Ireland Limited

James Joyce

+44 (0) 207 220 1666

Nick Field

Pelham Bell Pottinger

James MacFarlane

+44 (0) 207 861 3864

Marcin Zydowicz

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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