7 Sep 2016 15:31
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Don't have an account? Click here to register.Rare Earth Minerals increases stake in Bacanora Minerals by £4.5m
Tue, 20th Sep 2016 12:56
(ShareCast News) - Rare Earth Minerals, an investment company which focuses on lithium and rare element deposits, increased its stake in Bacanora Minerals to 19.8% with an 'on market' deal worth £4.5m.The AIM listed company agreed to buy a further 4.5m shares in the Mexican lithium miner for £4.5m, with payment due at the end of September.Rare Earth already held a 30% interest in two joint-ventures with Bacanora, Mexalit and Megalit, which held the latter company's concessions in the Sonora lithium project.Hence, due to the increased direct stake in Baconora it will now have an indirect interest of 19.8% in the La Ventana, La Ventana 1, and Megalit concessions.It will also have an increased total economic interest of 43.9% in Mexalit and its El Sauz, El Sauz 1 , el Sauz 2, Fleur and Fleur 2 concessions due to the increased Bacanora shares.The Buenavista and San Gabriel concessions, which are also held by Megalit and therefore Rare Earth has a 43.9% economic interest in Megalit.In early August, Rare Earth raised $15m through a loan note convertible into ordinary shares with $6.5m having been issued to date, with completion to be announced once all funds had been received, the company said in a statement.Bacanora was focused on concluding the Feasibility Study for the Sonora project in the first quarter of 2017.Shares in Rare Earth Minerals were down 1.27% to 0.78p at 1353 BST.
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6 Sep 2016 15:33
Rare Earth Minerals reports positive results from Czech lithium mine
(ShareCast News) - AIM-listed miner Rare Earth Minerals' company European Metal Holdings reported "positive" results from its Czech lithium mine, achieving a high grade interval at the first intercept. European Metal Holdings, in which Rare Earth owns a 16.4% stake, made two mineral intercepts at th
Read more3 Aug 2016 12:55
Rare Earth Minerals expecting lithium grants for Australia partner
(ShareCast News) - AIM-listed Rare Earth Minerals said Australia's Macarthur Minerals, in which it holds 15%, expected to be granted 13 out of the 20 lithium exploration licences it applied for. The company said it expected them to be granted by November/December 2016. It added that Macarthur had a
Read more21 Jul 2016 11:10
Rare Earth Minerals notes progress at Czech investment
(ShareCast News) - Rare Earth Minerals reported on Thursday that European Metals Holdings, in which it owns a 16.4% shareholding, has appointed Ausenco Services as the lead engineer to the pre-feasibility study of the Cinovec Lithium/Tim Project in the Czech Republic. The AIM-traded firm said the
Read more13 Jul 2016 16:31
Rare Earth Minerals investment enters new farm-in agreement
(ShareCast News) - Rare Earth Minerals reported on Wednesday that Macarthur Minerals, in which it owns a 15.5% shareholding, has entered into a new conditional farm-in agreement. The AIM-traded company said that Macarthur has agreed to enter into a conditional, binding memorandum of understanding fo
Read more8 Jul 2016 14:20
REM notes Macarthur Minerals expands lithium MOU
(ShareCast News) - Rare Earth Minerals said Macarthur Minerals is expanding its Memorandum of Understanding with Venturex Resources to include the lithium rights on the Whim Creek Project, Western Australia. Macarthur Minerals, in which REM holds a 15.5% interest, is an exploration and developmen
Read more7 Jul 2016 11:20
Rare Earth said its interest in Bacanora's Sonora lithium project is progressing
(ShareCast News) - Rare Earth Minerals reported that Bacanora Minerals' Sonora lithium project had made progress at "apace" ahead of its definitive feasibility study in early 2017. The company said they have an interest in the project as Rare Earth has a 15.5% holding in Bacanora. Bacanora said the
Read more22 Jun 2016 15:05