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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.

Western Lithium Demonstration Plant

Western Lithium's Demonstration Plant to Show Lithium Extraction From Its Nevada Deposit

Rare Earth Mineral Plc (AIM: REM) is pleased to announce that Western Lithium USA Corporation ("Western Lithium"), in which REM holds an approximate 2.2% interest, has announced that its lithium carbonate demonstration plant is expected to be operation in the fourth quarter of 2014.

The purpose of the demonstration plant is to produce lithium carbonate and byproduct samples on pilot scale equipment for strategic investors and potential off-take partners to witness, and to complete a Feasibility Study showing the commercial viability of the project using Western Lithium's patented technology, in order to attract engineering and construction capital.

Based on its NI 43-101 Prefeasibility Study, the Project is forecast to have a comparably low first-quartile cost structure against new and incumbent lithium producers, and to generate a pre-tax net present value of US$552 million at a discount rate of 8% (see SEDAR filing dated January 27, 2012).

The Western Lithium news release is shown in full below.

David Lenigas, the Company's Chairman commented:

""REM is pleased with its investment in Western Lithium and the significant progress that Western Lithium have made over the past few months.

Their Kings Valley Project has many similarities to REM's Sonora Lithium Project and their technical expertise on clay lithium deposits all goes well for the potential future viability of Mexico.

We are expecting updates on the completed Stage 3 drilling on Fleur and El Sauz in Mexico and the new drilling programme on the Megalit JV drilling soon."

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Drilling to Commence on Yangibana Rare Earth Prospect, Western Australia

Test Results from El Cajon Deposit, Sonora, Mexico

Update on the Sonora Lithium Project, Mexico

Highlights:

· Drilling and Exploration:

o El Sauz - Fleur Joint Venture:

§ Stage 3 drill program was recently completed on the El Sauz - Fleur concessions; and

§ Mapping and prospecting have discovered new clay exposures on the Fleur concession.
o Megalit Joint Venture:

§ Diamond drilling has commenced on the Penasco lithium clay prospect on the Megalit concession;

§ Mapping and prospecting have discovered new clay exposures on the Megalit concession; and

§ Trenching of lithium clay surface showings on the Buenavista concession will be initiated shortly as a part of the exploration programme on Megalit.



· Engineering and Pilot Plant:

§ After achieving lithium carbonate product with over 99.5% purity, engineering design work has been commissioned to scope and design a lithium carbonate plant with the capacity of 35,000 - 50,000 tones per year of lithium carbonate;

§ Pilot plant continues to produce lithium carbonate samples for potential buyers; and

§ Test work on the clay units from La Ventana and Sauz-Fleur areas was conducted in order to determine suitability for use in drilling mud.

REM increases strategic holding in Bacanora Minerals to 8.59%

Rare Earth Minerals (AIM: REM) announces that it has now increased its shareholding in its joint venture partner in the Sonora Lithium Project in Mexico, Bacanora Minerals Limited ("Bacanora"), to 8.59% from the previously reported 6.06% through further on-market purchases totalling £532,000.

This interest, when aggregated with REM's 30% direct interest in the Fleur- El Sauz Lithium Joint Venture and the 10% direct interest in the 94,000 hectare Megalit Joint Venture, results in a total economic interest in Fleur- El Sauz of approximately 36% and a total economic interest in Megalit of approximately 17.7%.

REM adding more shares to their pile.


Rare Earth Minerals (AIM: REM) announces that it has now increased its shareholding in its joint venture partner in the Sonora Lithium Project in Mexico, Bacanora Minerals Limited ("Bacanora"), to 9.4% from the previously reported 8.6% through further on-market purchases totalling £165,000

This interest, when aggregated with REM's 30% direct interest in the Fleur- El Sauz Lithium Joint Venture and the 10% direct interest in the 94,000 hectare Megalit Joint Venture, results in a total economic interest in Fleur- El Sauz of approximately 36.6% and a total economic interest in Megalit of approximately 18.5%.

Bacanora shares have been rising steadily over the last few days, that's more than can be said of REM!

up 14% today.

Increase in holding in Bacanora Minerals to 10.18%

REM increases strategic holding in Bacanora Minerals to 10.18%


Rare Earth Minerals (AIM: REM) announces that it has now increased its shareholding in its joint venture partner in the Sonora Lithium Project in Mexico, Bacanora Minerals Limited ("Bacanora"), to 10.18% from the previously reported 9.4% through further on-market purchases totalling £203,000.

This interest, when aggregated with REM's 30% direct interest in the Fleur- El Sauz Lithium Joint Venture and the 10% direct interest in the 94,000 hectare Megalit Joint Venture, results in a total economic interest in Fleur- El Sauz of approximately 37.12% and a total economic interest in Megalit of approximately 19.16%.

David Lenigas, The Company's Chairman, commented:

"We continue to steadily increase our strategic shareholding in Bacanora Minerals, as we seek to increase REM's exposure to the Sonora Lithium Project in Mexico.

The 10% shareholding is an important threshold in Canada, where Bacanora is listed, and as such REM will now be required to file and release an Early Warning Report on Bacanora's Canada Exchange."

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REM Fully Closes YAGM Equity Swap.

Rare Earth Minerals (AIM: REM) is pleased to announce that it has completed the full Equity Swap Agreement with YA Global Master SPV, Ltd. ("YAGM"), which has now provided a total of £3,017,495 in cash funding from the 17 June 2013 until yesterday without issuing any further equity in the Company.

David Lenigas, the Company's Chairman commented:

"This YAGM Equity Swap has proved very successful for REM, having provided more than tenfold the original £300,000 funding envisaged and enabled REM to farm-in to the exciting Sonora Lithium Project in Mexico and pay for an extensive exploration and assessment programme, which continues today."


YAGM Equity Swap:

On the 17 June 2013, REM announced that it had entered into a £300,000 Placing Agreement and separately a £150,000 Equity Swap Agreement with YAGM. Under the Equity Swap Agreement, REM was to receive an additional £12,500 per month for a 12 month period from September 2013, or more per month dependent on the future price performance of the Company's ordinary shares ("Shares"). Under the 17 June Agreement, YAGM could elect to accelerate the payments due to REM under certain circumstances.


The recent share price performance of REM has led to accelerated payments under the Equity Swap Agreement, resulting in the complete closing of the Equity Swap. REM's total cash payments resulting from the Equity Swap now total £3,017,495.

- Ends -

Up 15% today.

finally pushing higher.

Update on Yangibana Rare Earth Prospect, Western Australia

Rare Earth Mineral Plc (AIM: REM) is pleased to announce that Hasting Rare Metals Limited ("Hastings"), the operators of the Yangibana rare earth elements joint venture, have now drilled the first 29 reverse circulation (RC) drill holes at REM's 30% owned Yangibana North prospect in Western Australia.

The planned programme involves drilling on nine sections spaced at 50m along the main outcrop of the Yangibana North prospect. Up to five holes will be drilled on each section. Approximately 350m of drilling is required on each of the nine sections, totalling 3,150m. To date 29 holes have been completed totalling 942 metres. The first seventy samples have been despatched to Genalysis in Perth for analysis.

REM has a 30% free carry interest in the project to Bankable Feasibility Study. The full Hastings news release can be found at:

http://www.hastingsraremetals.com/wp-content/uploads/2014/05/Announcement-rights-issue-KPC00062216-011.pdf

Starting to take off at long last....really have to be patient with these resource aim stocks...

Bought on the breakout today.

1p to buy now top rise today.

Update on Greenland Exploration

Rare Earth Minerals Plc (AIM: REM) is pleased to announce that SRK Exploration Services Ltd ("SRK ES"), the Company's geological consultants for Greenland, have now identified one main rare earth element target and eight gold targets on the Company's 100% owned 2012/15 exploration Licence in South Greenland.

As previously announced on 25 April 2014, REM's exploration effort in Greenland will be managed by Greenland Minerals Energy Limited ("GMEL"); a leading operator in Greenland's emerging minerals industry and owners of the Kvanefjeld rare earth-uranium deposit, one of the largest rare earth deposits in the world. Exploration efforts will now move to ground based exploration with the GMEL field crews expected on site on 17 June 2014.

more....

Lithium Resource Increase and Upgrade - Sonora Lithium Project

Highlights:

· El Sauz and Fleur and contained LCE increases by 35% to 2.01 million tonnes.

· La Ventana contained LCE increased by 37% to 1.273 million tonnes

· Indicated total Lithium Resources for El Sauz and Fleur total 120,990,000 tonnes averaging 3,120 ppm Li (1.66% LCE) for combined Upper and Lower Clay units at a cut-off of 2,000 ppm Li.

· Indicated total Lithium Resources for La Ventana are 75,320,000 tonnes averaging 3,174 ppm Li (1.66%) for the combined Upper and Lower Clay units at a cut-off of 2,000 ppm Li.

· Work on the large, 96,964 hectare, concession package that form the lands under the second joint venture with Bacanora is progressing well. To date four drill holes have been completed, mapping and surface sampling are ongoing. First results are expected towards the end of June 2014.

It would be nice if they put a value to all this.......I presume probably five times todays sp value...perhaps even more....

Up5% today.

REM increases strategic holding in Bacanora Minerals to 11.27%

Rare Earth Minerals (AIM: REM) announces that it has now increased its shareholding in its joint venture partner in the Sonora Lithium Project in Mexico, Bacanora Minerals Limited ("Bacanora"), to 11.27% from the previously reported 10.18% through further on-market purchases totalling £328,200.

This interest, when aggregated with REM's 30% direct interest in the Fleur- El Sauz Lithium Joint Venture and the 10% direct interest in the 94,000 hectare Megalit Joint Venture, results in a total economic interest in Fleur- El Sauz of approximately 37.89% and a total economic interest in Megalit of approximately 20.14%.

David Lenigas, The Company's Chairman, commented:

"We continue to steadily increase our strategic shareholding in Bacanora Minerals, as we seek to increase REM's exposure to the Sonora Lithium Project in Mexico"

- Ends -