REM's CEO appointed to the board of Bacanora

RNS Number : 3504R

Rare Earth Minerals PLC

11 September 2014

 



11 September 2014

Rare Earth Minerals Plc.

("Rare Earth Minerals", "REM" or "the Company")

REM's CEO appointed to the board of Bacanora Minerals Ltd

Rare Earth Minerals (AIM: REM) reports that Bacanora Minerals Ltd ("Bacanora"), has today announced the appointment of Kiran Morzaria as a non-executive director of Bacanora with immediate effect. Kiran is the Chief Executive Officer of REM.

REM has an 11.90% shareholding in Bacanora, its 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 ("JV#1") and the 30% direct interest in the Megalit Joint Venture ("JV#2"), results in a total economic interest in the Fleur El-Sauz and Megalit Joint Ventures of approximately 38.3%. 

David Lenigas, the Company's Chairman commented:

"The appointment of Kiran, as REM's representative to the board of BCN, is an important step forward in REM's partnership with Bacanora on the overall Sonora Lithium Project in Mexico. Kiran's corporate experience, commercial knowledge and technical training, will provide a strong addition to the board of Bacanora as the Sonora Lithium Project progresses towards commercialisation."

- Ends -

For further information please contact: 

Rare Earth Minerals plc                                                                   [phone]

David Lenigas

Kiran Morzaria

WH Ireland Limited (NOMAD & Joint Broker)                               [phone]

James Joyce

Nick Field

Hume Capital plc (Joint Broker)                                                     [phone]

Guy Peters

Jon Belliss

Square1 Consulting

David Bick                                                                                           [phone]

Mark Longson

 

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