Markets

Rare Earth Minerals' 333pc rise after name change puts Aim under fresh scrutiny
What's in a name? About 10m, according to investors in Aim-listed Rare Earth Minerals Plc, whose share price rose 66pc yesterday.

Rare Earth Minerals' new website can still be found at www.zestmusic.com By Rowena Mason, Energy Correspondent 6:00AM GMT 31 Dec 2010
18 Comments
The company, which does not yet own any rare earth minerals or licences to mine them, was a loss-making music business called Zest until eight days ago.

It has not revealed how it plans to acquire any of the minerals on which China has a near monopoly. Nor has it disclosed the countries where it is targeting acquisitions with just 630,000 of cash in the bank.

However, since it proposed the name change on November 12, its share price has more than quadrupled from 0.35p, valuing it at 3.1m, to 1.52p, valuing it at 13.5m.

The rise is likely to raise further questions about the London Stock Exchange's governance of the AIM market - three years on since Roel Campos, an SEC commissioner, described the junior market as a "like a casino".

It has been under renewed scrutiny since Desire Petroleum's wild share spikes earlier this month. A spokesman for AIM declined to comment on whether the regulatory team is looking into Rare Earth Minerals

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One broker said: "It is penny stock madness, a herd mentality, though I'm not sure what they're trying to cash in on. It is just like a type of dotcom boom situation."

At the height of the dotcom boom, a string of cash shells - companies with a stock market quote but no actual business - listed on AIM. The value collapsed when the bubble burst, prompting the LSE to change its rules.

TD Waterhouse, the retail broker, said Rare Earth Minerals was its most traded stock yesterday, with the most buy orders and fourth most sell orders. "It's the first time I've ever seen it appear in the top ten," a spokesman said.

More than 143m shares changed hands, despite no new publicly available information.

The only announcement the company has made recently has been the award of 98m share options to "directors, staff , consultants and advisors" at 0.5p, redeemable in ten years.

The company's shares also rose sharply in January, when it appointed David Lenigas, a veteran of the world of penny stocks, as a non-executive. He is one of only two board members at Rare Earth Minerals and disclosed he was a director of 94 other companies including Solo Oil, Vatulouka Gold Mines and LonZim.

Last year, a study by Manchester Business School found AIM companies were no more likely to fail than those on other markets. However, they had more chance of survival if older, bigger, had a greater free float and a reputable nominated advisor.

Rare Earth Minerals was unavailable for comment.

Nice post Gibby covers just about everything out there at the moment !!
Me I think its all down to Lenigas and Rowan, do you trust them ? I vote yes at this time.

Rare Earth inerals are a no brainer if you got em you'l make money but as of yet we have none, theres the question however, these boys have plenty of links to various mining outfits and do you reckon they will come up with a deal or two ?

If they do then this share rockets no problem, so back to my initial question do you trust them to come up with the deals, me yes for sure , all points to these guys coming u with the goods why else would they bother, they have plenty of other interests to keep them busy.

cheers shanks - trust lenigas & rowan - lol they are businessmen........ but if they make me cash let them get on with it - i am in another company linked to lenigas - otc - ortac - very good price right now - bit of history:

2/8/10

TEMPLAR MINERALS(0.92p)which has not exactly been a roaring success so far is now trying it's luck on ORTAC.David Lenigas is stepping down as a Director:-

Templar Minerals reverse takeover of Ortac Resources.
StockMarketWire.com
2/8/10

TEMPLAR MINERALS is to acquire Ortac Resources for 7.5 million.

The Company will assume responsibility for the discharge of Ortac's liability to Tournigan Energy under the Tournigan Share Purchase Agreement.

Furthermore, the Company will be responsible for ensuring that the outstanding payment obligation of US$1.9 million to Tournigan by Ortac is met and therefore the total effective consideration will be approximately 8.7m.

Ortac's principal asset is the Kremnica Gold Project and it also has 100 per cent ownership interests in seven other licences in the east of Slovakia.

The acquisition constitutes a reverse takeover and the Board intends to change the name of the company to Ortac Resources.

Ortac is a gem - but i am sure you have seen it already

i think rem will eventually come good - but i do place in the high risk category - hoping rem will drop some more before topping up - lots of opportunities about right now

gl

DJ Rare Earth Minerals PLC Acquisition of Interest in Canadian Properties

TIDMREM

RNS Number : 8634F

Rare Earth Minerals PLC

04 May 2011

Rare Earth minerals plc

Acquisition of Interest in Canadian Properties

Rare Earth Minerals (AIM: REM) is pleased to announce that it has entered into an agreement to acquire interests in 5 claims (No's S111889 to S111893) in Saskatchewan, Canada . The claims are situated in the Mudjatik domain, an area which has seen several periods of intensive exploration activity and hosts many interesting mineral showings. The claims consist of 3 separate groups totaling approximately 4,855 hectares in area. They are located in north central Saskatchewan and range from 5 to 16 kilometres west of a major highway and power facilities.

Under its agreement with the individual vendors of the interest ('the Cup Lake Syndicate'), Rare Earth Minerals may earn up to a 51% interest in the above mentioned properties after having paid a cash settlement of $50,000 USD and incurring exploration expenditures of at least $30,000 within 3 months. The Cup Lake Syndicate will act as the operator of an initial sampling program and will produce a report within 30 days of completion of this program. After review of this report, Rare Earth Minerals may elect to further participate in the development of these properties on a pro rata basis or alternatively, to not participate, in which case interest will be reduced to zero.

The Cup Lake deal is the first Rare Earth Minerals investment since the Company shareholders resolved on the 29(th) November 2010 to adopt a change in investing policy to acquire a diverse portfolio of direct and indirect interests in exploration and producing Rare Earth Minerals and/or Metals projects and assets.

The agreement is conditional, inter-alia, on REM being satisfied with the title to the claims and the parties have agreed to use best efforts to have a final agreement confirming a closing date by 15 June 2011.

Background of the area;

During the 1950's exploration of was concentrated only on the accessible and mapped areas of the time. The focus was solely for uranium and was met with some success as uraninite showings were identified in numerous instances. In the 1960's exploration surged again, this time prospecting centered around the search for base metals and much of the area was flown with geophysical surveys. Drilling was undertaken and some anomalous nickel assays were obtained in core assays.

It was during these periods of exploration for other minerals that the potential for rare earth elements ("REE") was revealed. Monazite and allanite bearing porphyry dykes and irregular masses up to 30 feet wide were discovered, both have the potential for hosting heavy rare earth elements. Occurrences such as these suggest there may be sufficient mineralization in the area to support complex pegmatites hosting many types of rare earths. Drill and assay results

I wonder exactly what expertise the Directors and hangers-on posess? If they were really tallented, wouldn't they be working in a senior position for one of the majors?

Or were they drifing about from student-sit-ins and led a hippy lifestyle... only to awaken + reappear just at the time minerals have become a traded commodity?

I think the company name should be ****poles.

- but no doubt many have made money out of other so-called investors.

The stock is all-but-back to the launch price.

Made a fortune at christmas with this stock. Did not have anything to do with minerals at that time. Were they not a record company.

Nice candle.



Camelot Trust Corporation Limited >17.3%

great day :-)))

htt the next rem lol!!

Sold a little bit of Coms today first thing to go into REM and REM went up..makes a change for me but both Coms, REM & CHA looking good!

Held up well...!

it has and up again today - maybe go into the .2 range today / tomorrow
lenigas has struck lithium which retails 5000 to 6000 / ton
gl

Yes, still looking good, I'm up x 3 on my initial (small) outlay and 50% up from a second purchase yesterday...onwards and upwards... I hope!

Well done sh.

More good news released this morning... now waiting on the estimates to be released within sereral weeks.... onwards and upwards!
Rare Earth minerals plc

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


Final Drill Results Mexico Lithium Project



Rare Earth Minerals (AIM: REM) has received final analytical results for drill core from its Fleur-El Sauz Lithium Project in northern Mexico. The results provide continued firm evidence that Fleur-El Sauz has potential to be part of a major high grade lithium discovery.



In addition to the assay results shown below, the Fleur - El Sauz deposits identified to date remain open on strike and at depth.



Highlights:



· REM intersects significant lithium values in both Upper Clay and Lower Clay Units in all drill holes of the first phase programme conducted at its Fleur - El Sauz Lithium Project.



· All ten diamond drill holes, ES-01 to ES-10, show a 4 kilometre strike length for the lithium clay units on the concessions.



· Intervals with significant lithium (greater than 1,000 ppm Li) average 18.27 metres and 27.62 metres in true thickness for the Upper and Lower Clay Units, respectively.



· Preparation of a maiden lithium resource estimate is now underway, with results from this study expected within the next several weeks.





David Lenigas, the Company's Chairman commented:



"REM is pleased to report that the final holes confirm the extension of mineralisation through the Fleur - El Sauz licences and increase the potential of outlining a new and substantial lithium deposit.



"The total known world resource of lithium metal is estimated to be only just over 30 million tonnes, with total world annual production expected to rise from the current 150,000 tonnes of Lithium Carbonate Equivalent ("LCE") to 300,000 tonnes by 2020. The majority of current world production is based on brine pumping from Salars in South America, and deposits in China and Australia.



"Lithium is an important metal in today's quest for energy and energy storage solutions, for example in the fast-growing electric car market. To be part of this discovery is a very exciting prospect for the Company. The substantial amount of lithium-bearing clays present also represents an interesting opportunity for supply to the oil industry since these clays are becoming increasingly necessary for HTHP drilling muds now being used in deep oil and gas wells and for fracking.



"We are very pleased with the lithium grades obtained to date and widths of intercepts of the clay units in the holes. These results continue to demonstrate the persistence of the lithium-bearing clay units onto the joint venture lands and highlight the potential for a significant lithium resource to be outlined. The results from drilling are consistent with the mineralisation in the adjoining La Ventana deposit to the north-west. REM's management expects to provide an initial resource estimate within the next several weeks."



"REM will have 14 days after receipt of the initial resource estimate from Bacanora Minerals Ltd. ("Bacanora") to give final notice to increase its holding from 10% to 30% of the Fleur-El Sauz Joint Venture, under existing agreements with Bacanora."

Highlights:

· REM intersects significant lithium values in both Upper Clay and Lower Clay Units in all drill holes of the first phase programme conducted at its Fleur - El Sauz Lithium Project.

· All ten diamond drill holes, ES-01 to ES-10, show a 4 kilometre strike length for the lithium clay units on the concessions.

· Intervals with significant lithium (greater than 1,000 ppm Li) average 18.27 metres and 27.62 metres in true thickness for the Upper and Lower Clay Units, respectively.

· Preparation of a maiden lithium resource estimate is now underway, with results from this study expected within the next several weeks.

SP reacting nicely this morning

SP still looking strong....

fantastic day

atb

On the cusp of a golden cross - although now quite a gap!

1.2B shares traded, fantastic rise. I've only looked at REM today so not in, but well done gibby, skyhigh and co.
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