LONDON (Alliance News) – Rare Earth Minierals PLC Monday said Bacanora Mineral Limited, its joint venture partner in the Fleur-El Sauz Lithium Project in northern Mexico, has requested a trading halt of its shares on the Canadian Exchange.
Bacanora is an explorer and developer of industrials minerals in Mexico with a primary focus on borates and lithium.
Last month, Rare Earth said it had completed the first hole of a scheduled 24 hole diamond drilling test at Fleur Lithium. It also made an investment totalling USD450,000 in the company, as it looks to gain exposure to Baconora’s La Ventana Lithium Project in Mexico.
Rare Earth did not say why Baconora has made the request.
Rare Earth shares were trading at 0.742 pence Monday afternoon, up 0.022 pence or 3.1%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
