Rare Earth Minerals Ups Holding in Bacanora Minerals

Rare Earth Minerals (LSE:REM) reported that it has increased its shareholding in Bacanora Minerals (TSXV:BCN) to 12 percent, up from 11.83 percent previously. Bacanora is REM’s joint venture partner in the Sonora Lithium Project in Mexico.

This interest, when aggregated with REM’s 30% direct interest in the Fleur – El Sauz Lithium Joint Venture and the 30% direct interest in the Megalit Joint Venture, results in a total economic interest in each of these joint ventures of approximately 38.40%.

Rare Earth Minerals chairman, David Lenigas, said:

We have further increased our strategic holding in BCN, as we continue to see excellent value and returns to be made from the Sonora Lithium Project in Mexico.

Click here to read the Rare Earth Minerals (LSE:REM) press release