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Entrepreneurial Rare Earth Minerals (REM), headed by controversial Australian resources player David Lenigas, has spent £324,500 lifting its stake in fellow AIM counter Bacanora Minerals (BCN), as work speeds up at Bacanora’s Sonora lithium project in northern Mexico. Following Bacanora’s milestone agreement to supply Tesla Motors, US maker of electric vehicles, with lithium hydroxide for the batteries they need, the Sonora participants have mobilised a second rig to accelerate drilling the second nine holes of an 18-hole programme as part of a pre-feasibility study on the project, which should be completed in the first quarter of next year.
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