LONDON (Alliance News) - Rare Earth Minerals PLC Thursday said it has increased its stake in fellow London-listed Bacanora Minerals Ltd to 14.37% from 13.3%, through further market purchases of GBP547,860.
This is the third time Rare Earth has increased its stake in Bacanora in February, raising its interest to 13.3% only on Monday.
Rare Earth has also requested a meeting with shareholders of Bacanora to propose that its chairman, David Lenigas, is appointed to the board of Bacanora.
Rare Earth shares were up 2.5% to 0.923 pence per share, whilst Bacanora shares jumped 18% to 1.25 pence per share.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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